Kneat Achieves Record Revenue for Fourth Quarter and Full Year 2024

About this update from Kneat.com, Inc.

[{"type":"text","content":"Kneat Achieves Record Revenue for Fourth Quarter and Full Year 2024\n\n\n\n LIMERICK, Ireland, Feb. 26, 2025 (GLOBE NEWSWIRE) --\n \n kneat.com, inc. (TSX: KSI) (OTC: KSIOF)\n \n\n (“Kneat” or the “Company”)\n \n a leader in digitizing and automating validation and quality processes, today announced financial results for the three- and twelve-month periods ended December 31, 2024. All dollar amounts are presented in Canadian dollars unless otherwise stated.\n \n\n\n Total revenue reaches $13.7 million in the fourth quarter, an increase of 40% year over year\n \n\n Fourth-quarter gross profit grew 48% year over year to $10.4 million\n \n\n Annual Recurring Revenue (ARR)\n \n 1\n \n at December 31, 2024, reaches $59.7 million, an increase of 60% year over year\n \n\n\n\n\n “Our sustained revenue growth, expanding margins and solid traction across all areas of Validation demonstrate the durability of our business model. With companies throughout the Life Sciences adopting new technologies to drive business value, Validation’s transition to digital is set to continue, with Kneat leading the way.”\n \n\n\n\n - said Eddie Ryan, Chief Executive Officer of Kneat.\n \n\n\n\n Q4 2024 Highlights\n \n\n\n\n Total revenues increased 40% to $13.7 million in the fourth quarter of 2024, compared to $9.8 million for the fourth quarter of 2023.\n \n\n SaaS revenue for the fourth quarter of 2024 grew 41% to $12.5 million, versus $8.9 million for the fourth quarter of 2023.\n \n\n Fourth-quarter 2024 gross profit was $10.4 million, up 48% from $7.0 million (adjusted)\n \n 2\n \n in gross profit for the fourth quarter of 2023.\n \n\n Gross margin in the fourth quarter of 2024 was 75%, compared to 71% (adjusted)\n \n 2\n \n for the fourth quarter of 2023.\n \n\n EBITDA\n \n 3\n \n in the fourth quarter of 2024 was $1.1 million, compared with ($0.1) million (adjusted)\n \n 2\n \n for the fourth quarter of 2023.\n \n\n Adjusted EBITDA\n \n 3\n \n in the fourth quarter of 2024 was $2.6 million, compared with ($0.3) million (adjusted)\n \n 2\n \n for the fourth quarter of 2023.\n \n\n Total ARR\n \n 1\n \n , which includes SaaS license and recurring maintenance fees, was $59.7 million at December 31, 2024, an increase of 60% from $37.4 million at December 31, 2023.\n \n\n SaaS ARR\n \n 1\n \n , the proport...

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