NowVertical Group Reports Record Fourth Quarter 2022 - Adjusted Revenue was $8.6 million1 for the three months ended December 31, 2022 (“Q4 2022”) and $27.7 million1 for the year ended December 31, 2022 (“FY 2022”), an increase of more than 450% from the three months ended December 31, 2021 (“Q4 2021”) and more than 550% from the year ended December 31, 2021 (“FY 2021”).
- NOW reported breakeven Adjusted EBITDA1 in Q4 2022 and $(1.2) million in FY 2022, an increase of 99% from Q4 2021 and 53% from FY 2021.
TORONTO, April 19, 2023 (GLOBE NEWSWIRE) -- NowVertical Group Inc. (TSX-V: NOW) (OTCQB: NOWVF) (“NOW” or the “Company”), the Vertical Intelligence (“VI”) company, today announces its financial results for the three and twelve months ended December 31, 2022. All figures are in U.S. dollars unless otherwise stated.
“The fourth quarter results demonstrate our ability to create value through a disciplined, profitability-oriented growth strategy,” said Daren Trousdell, Chief Executive Officer. “Carrying this momentum into fiscal 2023, we are uniquely positioned – strategically, operationally, and financially – to continue consolidating in markets around the world, while realizing meaningful cost efficiencies and generating increasing levels of organic growth.”
“NOW has ramped up our operations to build significant scale and position us to compete with some of the biggest and most well-known brands in the AI industry,” continued Trousdell. “We have done this with a very strong and dedicated corporate development team that has internally sourced, pursued, and closed 12 acquisitions, that all-in generates approximately $60 million in revenue on a trailing 12-month (“TTM”) basis.”
NowVertical Group Reports Record Fourth Quarter 2022 (globenewswire.com)