Business
EarthLabs Reports Results For The Fourth Quarter and Fiscal Year 2024
Ended the year with total cash, cash equivalents, and investments of $39,234,437; 172.1% increas...
About this update from Earthlabs Inc
[{"type":"text","content":"EarthLabs Reports Results For The Fourth Quarter and Fiscal Year 2024Ended the year with total cash, cash equivalents, and investments of $39,234,437;172.1% increase in advertising revenue as compared to Q4 2024 with advertising revenue of $6,108,765 for the year ended December 31, 2024 (176.9% increase);39.9% increase in subscriptions revenue as compared to Q4 2024 with subscription revenue of $1,237,035 for the year ended December 31, 2024 (41.3% increase);Toronto, Ontario--(Newsfile Corp. - April 28, 2025) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) (FSE: 8EK0) (\"EarthLabs\" or the \"Company\") is pleased to announce the consolidated financial results for three months and year ended December 31, 2024 of the Company (the \"Financial Results\").Highlights for the three-months period ended December 31, 2024:172.1% increase in Advertising revenue to $1,843,012 as compared to $677,279 for the three months ended December 31, 2023;39.9% increase in Subscriptions revenue to $322,338 as compared to $230,391 for the three months ended December 31, 2023;12.0% increase in Sales of exploration maps to $37,655 as compared to $33,610 for the three months ended December 31, 2023;Net investment losses of $3,667,473 from our investment portfolio as compared to $1,263,270 for the three months ended December 31, 2023; Net loss and comprehensive loss of $4,959,177(basic loss per share of $0.04) as compared to net loss and comprehensive loss of $11,220,627 (basic loss per share of $0.08) for the three months ended December 31, 2023. Highlights for the year ended December 31, 2024:Completed the nine-month period with total cash and cash equivalents, due from brokers, investments and equity investments of $39,234,437 as compared to $42,943,109 as at December 31, 2023;176.9% increase in Advertising revenue to $6,108,765 as compared to $2,206,523 for the year ended December 31, 2023;41.3% increase in Subscriptions revenue to $1,237,035 as compared to $875,682 for the year ended December 31, 2023;20.3% decrease in Sales of exploration maps to $177,763 as compared to $223,038 for the year ended December 31, 2023;Net investment gains of $160,441 from our investment portfolio as compared to net investment losses of $2,277,329 for the year ended December 31, 2023; Net loss and comprehensive loss of $6,187,284 (basic loss per share of $0.04) as compared t...