Zoomd Technologies (ZOMD) Q4 2024 earnings summary

Executive summary

• Achieved 70% annual revenue growth in 2024, reaching US$54.5M, with Q4 revenue doubling year-over-year to US$15.1M.

• Net income for FY2024 was US$8.9M, a turnaround from a US$4.7M loss in 2023, with Q4.24 net income of US$3M.

• Adjusted EBITDA for FY2024 totaled US$11.3M; Q4.24 Adjusted EBITDA was US$3.2M, up from US$0.6M in Q4.23.

• Strategic refocusing since late Q2.23 included ceasing non-core operations, cost reductions, and customer diversification, driving improved profitability and operational efficiency.

• Management emphasized disciplined execution, margin expansion, and sustained profitable growth.

Financial highlights

• Operating profit for 2024 was US$9.5M, a US$13.6M improvement from 2023.

• Operating expenses as a percentage of revenue dropped to 22% in 2024 and 19% in Q4.24, down from 50% in 2023.

• Operating cash flow for FY2024 was US$7.7M; year-end cash balance was US$9.2M (C$13.3M), with no long-term debt.

• Gross margin improved to 41% in Q4.24, up from 30% in Q1.22; FY2024 gross margin was 39%, up 2 percentage points year-over-year.

• Earnings per share for FY2024 was C$0.12.

Outlook and guidance

• Positioned for continued organic growth, leveraging a diversified customer base and global expansion, especially from EU & APAC into North America & EU.

• Management remains committed to margin expansion, strong cash generation, and long-term shareholder value.

• Mobile digital ad market projected to grow at a 4.7–7.3% CAGR through 2030, supporting industry tailwinds.

• Next quarterly results to be shared in May.