Business
NowVertical Reports Record 2024 Financial Results
Company Hosting Investor Webinar on April 2, 2025, at 10:00 AM EST Q4 2024 revenue was ...
About this update from Nowvertical Group Inc
[{"type":"text","content":"NowVertical Reports Record 2024 Financial Results\n\n\n\n\n Company Hosting Investor Webinar on April 2, 2025, at 10:00 AM EST\n \n\n\n\n\n Q4 2024 revenue was $10.9 million, up 94% Y/Y excluding recent divestitures\n \n\n\n\n On a reported basis, Q4 2024 revenue increased 8% Y/Y\n \n\n\n\n Q4 2024 Net Income was $0.6 million, up 115% Y/Y excluding recent divestitures\n \n\n\n\n On a reported basis, Q4 2024 Net Income increased by 116% Y/Y\n \n\n\n\n Q4 2024 Adjusted EBITDA was $2.6 million, up 225% Y/Y\n \n\n\n\n 2024 FY Cash flows from operations were $2.8 million\n \n\n\n\n TORONTO, April 01, 2025 (GLOBE NEWSWIRE) -- NowVertical Group Inc. (TSX-V: NOW) (“\n \n NOW\n \n ” or the “\n \n Company\n \n ”), a leader in AI-driven data solutions, announces audited financial results for its fourth fiscal quarter ended December 31, 2024. Unless otherwise specified, all dollar amounts are expressed in U.S. dollars. Management will host an investor webinar at 10:00 AM EST (7:00 AM PST) on Wednesday April 2, 2025, to discuss the Company’s financial and business results.\n \n\n\n Selected Financial Highlights for the Three Months Ended December 31, 2024:\n \n\n\n\n\n Revenue\n \n was $10.9 million in the three months ended December 31, 2024 (“\n \n Q4 2024\n \n ”), an 8% increase from $10.1 million for the three months ending December 31, 2023 (“\n \n Q4 2023\n \n ”). Excluding the disposition of Allegient Defense, Inc. (“\n \n Allegient\n \n ”) on May 24, 2024, and Seafront Analytics, LLC (“\n \n Seafront\n \n ”) on December 31, 2023, Q4 2023 revenue was $5.6 million, translating to a year-over-year growth of 94%.\n \n\n\n Gross Profit\n \n was $5.7 million in Q4 2024, consistent with $5.7 million in Q4 2023. Excluding the Allegient and Seafront businesses, Q4 2023 gross profit was $4.1 million, translating to a year-over year increase of 37%.\n \n\n\n Administrative Expenses\n \n were $3.0 million in Q4 2024, a 52% decrease from $6.1 million in Q4 2023. Excluding the Allegient and Seafront businesses, Q4 2023 administrative expenses were $5.0 million, translating to a year-over-year decrease of 40%.\n \n\n\n Adjusted EBITDA\n \n was $2.6 million in Q4 2024, a 225% increase from $0.8 million in Q4 2023. Excluding the Allegient and Seafront businesse...