Zoomd Technologies (ZOMD) Q2 2024 earnings summary

Executive summary

• Achieved strong Q2 2024 performance with 58%–60% revenue growth, driven by strategic refocusing, cost reduction, and expansion into growth sectors.

• Ceased underperforming business lines and non-core operations, focusing on core user acquisition and operational efficiency.

• Diversified customer portfolio, expanded into e-commerce, iGaming, transportation, consumer packaged goods, and increased geographic reach.

• Serves global clients in mobile-first, performance-driven digital advertising, with campaigns in over 50 countries.

• Achieved five consecutive quarters of net profit growth.

Financial highlights

• Q2 2024 revenue reached $14 million, a 58%–60% increase year-over-year and sequentially.

• Adjusted EBITDA was $3 million, up 700% year-over-year and 149% sequentially.

• Net profit for Q2 2024 was $2.2–$2.3 million, with continued net income growth.

• Operating profit in Q2 2024 totaled $2.4–$2.5 million, a significant turnaround from prior losses.

• Cash flow from operating activities was $2.3–$2.4 million, with a cash balance of $4.4 million and no long-term debt.

Outlook and guidance

• Management remains optimistic about long-term growth, focusing on innovation, operational excellence, and leveraging technology for client expansion.

• Current cash and recurring revenues are expected to be sufficient for working capital and future growth plans.

• Positioned to benefit from ongoing growth in global mobile ad spend and app store revenues.