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NTG Clarity Delivers Record 2024 Financials With $56.1M Revenue, $9.9M Profit
Toronto, Ontario--(Newsfile Corp. - April 15, 2025) - NTG Clarity Networks Inc. (TSXV: NCI) (OTC...
About this update from Ntg Clarity Networks Inc.
[{"type":"text","content":"NTG Clarity Delivers Record 2024 Financials With $56.1M Revenue, $9.9M ProfitToronto, Ontario--(Newsfile Corp. - April 15, 2025) - NTG Clarity Networks Inc. (TSXV: NCI) (OTC Pink: NYWKF); NTG Clarity (\"NTG\" or the \"Company\") today reports its fourth quarter and year end results for the fiscal year ended December 31, 2024 (all figures in Canadian Dollars). Full Year HighlightsAll comparisons below are to the year ended December 31, 2023, unless otherwise notedRevenue grew 102% year-over-year to $56.1 million, driven by strong customer retention of over 90%1, with 54% of customers expanding their services2 and a 25% increase in total customer count3.Gross Profit increased 137% to $20.8 million, representing 37% of revenue, compared to $8.8 million and 32% in the prior year. Margin expansion was driven by a higher mix of offshore revenue.Net Income rose 326% to $9.9 million, or 18% of revenue, up from $2.3 million or 8% a year ago. The increase reflects both improved gross margins and the operating leverage of the Company's scalable model.Adjusted EBITDA grew 294% to $12.3 million, or 22% of revenue, compared to $3.1 million or 11% of revenue in the prior year.Operating Cash Flow of $2.6 million.Free Cash Flow of $1.6 million.\"2024 has been a transformative year for NTG. Decades of strategic investment aligned with strong market tailwinds to deliver exceptional results. We grew revenue by 102% year over year and increased net income by 326%,\" said Adam Zaghloul, Vice President of Strategy & Planning at NTG Clarity. \"These results are a testament to our incredible team, who continue to deliver outstanding value for our customers. The impact is clear in our KPIs-customer retention exceeded 90% in 2024, and more than half of our customers expanded their engagement with us.\"\"We also saw meaningful growth driven by our referral network, which contributed to a 25% increase in customers. Importantly, 2024 is just the beginning. We're in the fortunate position of being insulated from tariff-related uncertainty, and we continue to benefit from the macroeconomic tailwinds fueling digital transformation. Our clients are recognizing the value we provide-reflected in the increasing size and duration of the contracts we're signing.\"OutlookOur 2025 guidance reflects our confidence in another year of meaningful growth, profitability,...