OTCPK:MAGTF - Post Discussion
Post by
cleareye on Mar 10, 2022 6:26am
Year end results - solid
Q4 and FY 2021 Financial Highlights
(Comparison periods in each case are the three and twelve months ended December 31, 2020, unless otherwise stated)
- Revenue of $21.4 million in Q4 2021, an increase of 37%; and $70.3 million in FY 2021, an increase of 37%
- Gross Margin of 93% in each of Q4 2021 and FY 2021
- Net income of $0.8 million in Q4 2021, a decrease of 82%, and $7.3 million in FY 2021, a decrease of 31%
- Adjusted EBITDA(1) of $4.7 million in Q4 2021, a decrease of 19%, and $18.6 million in FY 2021, an increase of 21%
- Annual Recurring Revenue(2)("ARR") of $61.3 million as of December 31, 2021, an increase of 48% compared to December 31, 2020
1) Non-IFRS measure. See "Non-IFRS Measures" and the reconciliation to the most directly comparable IFRS measure included in this press release
2) Key Performance Indicator. See "Key Performance Indicators"
"Our 48% growth in Annual Recurring Revenue is led by new customer acquisition and expanding our range of solutions and services for our existing customers," said Adam Belsher, chief executive officer of Magnet Forensics. "Digital crimes and cyberattacks are growing at a rapid pace in today's digitally-connected world. Our suite of digital investigation solutions enables public safety organizations and enterprises to uncover critical digital evidence in a timely and effective fashion so they can solve crimes and identify and close threat vectors. We're consistently outpacing the growth in our sector, generating profits and cash flows. At the same time, we're investing in future growth through our R&D efforts and the expansion of our sales and marketing teams. We intend to continue to execute our growth strategy in line with our mission to seek justice and protect the innocent for our customers, the victims they serve and our shareholders."
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