SSC Security Services (SECU) Q4 2024 earnings summary

Executive summary

• Achieved revenue growth to $120.6 million for FY2024, driven by organic expansion and strategic acquisitions, with a strong balance sheet and experienced leadership.

• Adjusted EBITDA per share increased 18.2% year-over-year to $0.26.

• Completed share buybacks totaling 591,400 shares (3% of the company) at an average price of $2.52 per share.

• Ended the year with no long-term debt and strong liquidity, including $13.3 million in cash.

• Emphasizes recurring revenue, multi-year contracts, and cross-selling opportunities to drive sustainable growth.

Financial highlights

• FY2024 revenue reached $120.6 million, up 10.6%–11% year-over-year; Q4 revenue was $29.6 million, up 11.7% from Q4 2023.

• Gross profit for FY2024 was $17.6 million (14.6% margin), up from $16.3 million (14.9% margin) in FY2023; Q4 gross profit declined 4.9% year-over-year.

• Adjusted EBITDA for FY2024 was $5.0 million ($0.26 per share), up 16.6%–18% year-over-year; Q4 Adjusted EBITDA was $1.24 million, down 14.1% year-over-year.

• Comprehensive net income for FY2024 was $0.6 million ($0.03 per share), up from $0.1 million ($0.00 per share) last year.

• Paid $0.12 per share in dividends during the year.

Outlook and guidance

• Targets 10–15% annual Adjusted EBITDA growth per share and expects continued demand for security services.

• Maintains a no-debt policy and consistent quarterly dividend, currently $0.03 per share.

• Focuses on organic growth, new product offerings, and further disciplined acquisitions.

• Most remaining legacy assets expected to convert to cash in the next year to support business expansion.