RECORD GROWTH FY2024 Q1 RESULTSQ1 2024 HIGHLIGHTS
During the first quarter ended December 31, 2023, revenue was $30.9 million, up $2.9 million (10.2% organic growth) over revenue recorded in the same period last year and representing an increase of 5.4% from last quarter (Q4 2023).
Adjusted EBITDA for the quarter was $1.4 million ($0.07 per share), up from $0.9 million ($0.04 per share) during the same quarter last year (56% increase over Q1 2023).
During the quarter we paid $0.03 per share in dividends to shareholders and bought back 128,100 shares of the Company at an average of $2.59 per share.
We finished the quarter ended December 31 with (comparison to prior quarter - Q4 2023):
Cash and cash equivalents of $9.8 million ($14.8 million);
Working capital of $27.8 million ($28.3 million);
Legacy assets (including assets held for sale and mortgages & loans receivable) of $7.7 million ($8.3 million);
Total shareholders' equity of $66.9 million ($67.7 million); and
Long-term debt of nil (nil).