Business
Route1 Announces Q3 2024 Financial Results
TORONTO, ON / ACCESSWIRE / November 26, 2024 / Route1 Inc. (TSXV:ROI) (the "Company" or "Route...
About this update from Route1 Inc.
[{"type":"text","content":"Route1 Announces Q3 2024 Financial ResultsTORONTO, ON / ACCESSWIRE / November 26, 2024 / Route1 Inc. (TSXV:ROI) (the \"Company\" or \"Route1\"), an advanced North American provider of data-centric business empowerment solutions, today reported its financial results for the three- and nine-month periods ended September 30, 2024.Statement of operationsIn 000s of CAD dollars Q32024 Q22024 Q12024 Q42023 Q32023 Q22023 Revenue Subscription and services $1,417 $888 $906 $1,064 $1,148 $1,159 Devices and appliances 2,301 2,605 3,123 3,222 3,370 3,026 Other (12) (9) 3 10 5 (1)Total revenue 3,706 3,484 4,032 4,296 4,523 4,184 Cost of revenue 2,376 2,269 2,716 2,797 2,998 3,011 Gross profit 1,331 1,215 1,317 1,499 1,525 1,173 Operating expenses 1,418 1,457 1,431 1,558 1,542 1,533 Operating profit 1 (87) (242) (115) (59) (18) (360)Total other expenses 2 196 86 34 223 52 265 Net income (loss) $(283) $(328) $(149) $(282) $(70) $(625)1 Before stock-based compensation2 Includes gain or loss on asset disposal, stock-based compensation expense, interest expense, income tax recovery, foreign exchange loss or gain, other expenses and acquisition expenses.Adjusted EBITDA 1In thousands of Canadian dollars Q32024 Q22024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Adjusted EBITDA $147 $2 $134 $226 $297 $(27)Depreciation and amortization 234 245 248 285 314 333 Operating profit $(87) $(242) $(115) $(59) $(18) $(360)1 Adjusted EBITDA is defined as earnings before interest, income taxes, depreciation and amortization, stock-based compensation, patent litigation, restructuring and other costs. Adjusted EBITDA does not have any standardized meaning prescribed under IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. Adjusted EBITDA allows Route1 to compare its operating performance over time on a consistent basis.Subscription and services revenuein 000s of CAD dollars Q32024 Q22024 Q12024 Q42023 Q32023 Q22023 Application software $37 $49 $129 $139 $280 $343 Other services 1,380 839 777 925 868 816 Total $1,417 $888 $906 $1,064 $1,148 $1,159 Other services revenuein 000s of CAD dollars Q32024 Q22024 Q12024 Q42023 Q32023 Q22023 Technology life-cycle maintenance and support $370 $356 $347 $323 $314 $310 Professional services 1,010 483 430 602 553 506 Total $1,417 $839 $777 $925 $867 $816 \" Not a dramatic quarter, rather a stea...