Business
EQ Inc. Reports Profitable Fourth Quarter and 2024 Year End Financial Results
Revenue Increase of 33% Sequentially and Positive EBITDA for the Quarter TORONTO, ON / ACCE...
About this update from Eq Inc.
[{"type":"text","content":"EQ Inc. Reports Profitable Fourth Quarter and 2024 Year End Financial ResultsRevenue Increase of 33% Sequentially and Positive EBITDA for the Quarter TORONTO, ON / ACCESS Newswire / April 30, 2025 / EQ Inc. (TSXV:EQ.V) (\"EQ Works\" or the \"Company\"), a leader in AI and data driven software and solutions, announced its financial results today for the fourth quarter and the year ended December 31, 2024.The Company is pleased to report that revenue for the fourth quarter of $3.3 million increased by over 33% sequentially and 5% from the same period a year ago. The revenue increase was the result of continued client demand for our data driven media solutions and the strong performance of our Paymi business unit, which delivered a sequential revenue increase of over 133%. Gross margin for the quarter was approximately 40% and the Company generated a positive adjusted EBITDA of $161 thousand.Revenue for the year ended December 31, 2024, was $9.9 million consistent with the previous year while the adjusted EBITDA loss improved by over 40%. After years of investing in technology, data and AI driven solutions, the Company continued to focus on profitability and reduced the number of campaigns that did not utilize the full potential of its data and analytics offerings which generated lower margins. This focus resulted in a significantly improved adjusted EBITDA loss for the year, and a positive adjusted EBITDA for the fourth quarter. The adjusted EBITDA loss for the year improved by over 37% to $0.9 million, which is a significant improvement from the $1.4 million loss for the same period in 2023.Significant Milestones and Highlights During the Year:The Company generated positive net cash from operating activities of approximately $0.5 million.Entered into a $1.1 million contract with a leading automotive company to support and execute their digital strategies.Executed contracts in excess of $1.0 million to drive AI powered innovation, engagement and digital strategies to leading appliance manufacturers.Paymi revenue increased by over 133% when compared to the previous year.Developed white label platforms for multiple Paymi customers to help drive additional insights and cash savings opportunities.Card link offers on the Paymi platform increased by over 100% during 2024.Paymi entered new partnerships with 4 white-label customers includ...