Post by
Maximus10 on Nov 14, 2024 9:07am
NOW.V posted great financials net profit again
Our third quarter results clearly highlight the accelerated progress we've made in executing our One Brand, One Business Integration strategy. Q3 2024 Adjusted EBITDA of $2 million, up from $1.5 million in Q2 2024 (excluding the Allegient divestiture) indicates our integration strategy and efficiency focused measures are yielding results. Outstanding credit goes to our operator-first leadership team who have executed this at a faster pace than anticipated," said Sandeep Mendiratta, CEO of NOW. "We have renegotiated acquisition liabilities, leading to meaningful savings and a more favourable payment schedule for those liabilities. Acquisition-related liabilities have been reduced in total by an estimated $5.4 million. Our third quarter has demonstrably put us on a path to achieving our objective of having annual EBITDA of $10 million, by achieving annual revenue of $50 million and a best-in-class 20% EBITDA margin. We believe we now have a platform for sustained organic revenue growth, with strong margins across our core markets. We look forward to discussing these points and more on our third quarter investor call."
https://finance.yahoo.com/news/nowvertical-group-inc-reports-third-120000929.html
Comment by
francoisl13 on Nov 14, 2024 9:41am
I wouldn't say 'great financials' but very good one. They are showing the investment community that the organisational changes made are paying off. They now have to keep growing and stay profitable for the next few quarters for the investors to gain full confidence back into this company mnagement. Good market reaction this morning with a 20% increase with decent volume so far... GLTA!