Business
Ionik Announces Record Fourth Quarter and Fiscal 2024 Results
Record Fiscal 2024 Revenue of $179 million - Growth of 28% over previous 12 months Record F...
About this update from Ionik Corporation
[{"type":"text","content":"Ionik Announces Record Fourth Quarter and Fiscal 2024 ResultsRecord Fiscal 2024 Revenue of $179 million - Growth of 28% over previous 12 months Record Fiscal 2024 Adjusted EBITDA1 of $23 million - 34% growth compared to $17.2 million in the prior 12 monthsRecord Quarterly Adjusted EBITDA1 of $7.3 million in Q4 - Year-over-year growth of 32% and quarter-over-quarter growth of 30%(All figures in US dollars, unless otherwise indicated)Toronto, Ontario--(Newsfile Corp. - April 30, 2025) - Ionik Corporation (the \"Company\" or \"Ionik\") (TSXV: INIK, OTCQB: INIKF), a data and technology-driven marketing and advertising solutions company, announced its financial results for the three and twelve months ended December 31, 2024. Fiscal 2024 Annual Financial HighlightsRecord revenue of $179.1 million during its fiscal year 2024, as compared to $140.4 million for the prior twelve months ended December 31, 2023, an increase of 28%. Revenue growth was primarily driven by the acquisitions of Shift44, Inc. (\"SHIFT44\") in Q4 2023 and Nimble5, LLC (\"Nimble5\") and Rise4 Inc. (\"Rise4\") in 2024.Record gross profit of $67.3 million in its fiscal year 2024 ($55.5 million for the prior twelve months), representing a 21% increase from the comparable period in the prior year, driven by the increase in revenue.Gross margin percentage of 38% in fiscal year 2024 (40% for the prior twelve months).Record Adjusted EBITDA1 of $23.1 million ($17.2 million for the prior twelve months), an increase of 34%. Adjusted EBITDA growth was predominantly related to the three acquisitions as well as operating expense reductions.Financial Highlights for the Fourth Quarter 2024Revenue of $48.4 million, an increase of 10% versus $44.0 million for the prior quarter with growth driven by the acquisitions of Nimble5 in September and Rise4 in November 2024. Gross profit of $19.2 million (40% margin), compared to $17.1 million (39% margin) for the prior quarter and $17.4 million (46% margin) for the same period of 2023 (\"Q4 2023\"). Adjusted EBITDA1 of $7.3. million, compared to $6.0 million for the prior quarter, with growth derived from 2024 acquisitions.Adjusted Free Cash Flow1 of $4.8 million (65% Adjusted Free Cash Flow conversion rate1), compared to $5.5 million (92% Adjusted Free Cash Flow conversion rate1) for the prior quarter and $5.3 million (95% Adjusted Free C...