Business
Scodix Announces Record-Breaking 2024: Achieves Profitability and 23% Revenue Growth, Driven by Groundbreaking Technology and Strategic Partnerships
Scodix (TASE: SCDX) the pioneer and global leader in digital embellishment, today announced its financial results and key milestones for the year ending December 31, 2024, marking a significant turning point in the company's history.
About this update from Scodix Ltd.
[{"type":"text","content":"ROSH HAAYIN, Israel, April 1, 2025 /PRNewswire/ -- Scodix (TASE: SCDX) the pioneer and global leader in digital embellishment, today announced its financial results and key milestones for the year ending December 31, 2024, marking a significant turning point in the company's history.","length":293,"tagName":"p"},{"type":"image","alt":"Scodix Logo","displaySize":"","headline":null,"caption":"Scodix Logo","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":93,"url":"https://media.zenfs.com/en/prnewswire.com/76bfece54e29662035ec512dba238acc"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/EKEY5FE.vLRskogpbrnm4w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE2NDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/76bfece54e29662035ec512dba238acc","width":400,"height":93}},"href":"https://mma.prnewswire.com/media/2655014/Scodix_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"2024 was a year of unprecedented growth and achievement for Scodix, highlighted by the company achieving operational profitability for the first time. The company reported a record $32.1 million in total revenue, representing a 23% year-over-year increase. This growth was fuelled by a 39% surge in system sales and a 4% rise in recurring revenue, demonstrating the strong demand for Scodix's innovative technology and services.","length":432,"tagName":"p"},{"type":"text","content":"Key financial highlights include:","length":33,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Operational Profitability: Achieved for the first time in company history","length":73,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross Margin: Reached a robust 40.5%","length":36,"tagName":"p"}]},{"val":[{"type":"text","content":"Positive Cash Flow from Operations: Generated $4.41 million","length":59,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":168,"olType":false},{"type":"text","content":""2024 marks a pivotal moment for Scodix," said Eli Grinberg, Scodix's CEO and Co-founder. "We have successfully transitioned to profitability-driven growth, validating our strategic focus on innovation, customer success, and operational excellence. The launch of our next-generation Ultra SHD technology at Drupa 2024, coupled with strategic partnerships with global packaging ...