Moadtable Celebrates Record Growth in Annual Financials
Moatable Announces 2024 Annual Financial Results
Moatable, Inc. (OTC: MTBLY) has just shared exciting news regarding its financial performance. The company, known for its robust SaaS solutions, has revealed its fourth quarter of 2024 and the annual financial results that have garnered attention across the market. As a leading US-based software as a service provider, Moatable continues to showcase its capability for sustainable growth.
Financial Highlights from Q4 and Annual Performance
Let's delve into the impressive financial highlights for Q4 2024 and the entire fiscal year:
Revenue Growth
In a remarkable demonstration of growth, revenue for Moatable soared by 27% compared to Q4 of the previous year, amounting to $17.5 million. For the fiscal year that ended, the total revenue hit $63.5 million, reflecting a substantial 22% increase from the previous year.
Gross Profit Improvement
Gross profit surged to $13.2 million in Q4, marking a 23% growth year-on-year. Similarly, the annual gross profit reached $48.3 million, which is an 18% increase compared to the prior fiscal year.
Loss from Operations
Operational losses improved significantly, with a loss of $0.2 million in Q4 2024, a substantial improvement from the loss of $4 million reported in the same quarter last year. For the year, the operations loss narrowed to $3 million, down from $11.8 million in the previous fiscal year.
Adjusted EBITDA Metrics
Moatable's adjusted EBITDA showed impressive results as well, jumping 47% from a profit of $231,000 in Q4 2023 to $339,000 in Q4 2024. The profit from adjusted EBITDA for the entire fiscal year reached $1.7 million, a considerable improvement from the loss of $4.8 million in the previous year.
Cash Position and Operational Performance
As of December 31, 2024, Moatable reported total cash and cash equivalents alongside restricted cash amounting to $31.9 million. This value reflects a decrease from $39 million the previous year, although the company remains in a strong position to invest in its future growth.
According to Scott Stone, the chief financial officer of Moatable, "We have seen consistent revenue growth for twelve consecutive quarters, alongside positive operating cash flows in each of the last three quarters. This trend reinforces our path to profitability as we enhance productivity and operational efficiency. Our operating cash flows, totaling $0.5 million, $0.9 million, and $0.3 million for Q2, Q3, and Q4 respectively, exemplify our commitment to financial stability and growth."
About Moatable Inc.
Moatable, Inc. operates two significant SaaS businesses: Lofty and Trucker Path. The company’s shares trade on the OTC Pink open market under the symbol "MTBLY," reflecting its commitment to providing innovative solutions over the years. To learn more about the company and its offerings, please visit Moatable.com.
Frequently Asked Questions
1. What is Moatable's primary business focus?
Moatable primarily operates in the SaaS sector, offering solutions through its platforms Lofty and Trucker Path.
2. How did Moatable's revenue perform in 2024?
The company reported a 27% revenue increase in Q4 2024 compared to Q4 2023, amounting to $17.5 million.
3. What was the adjusted EBITDA for Moatable in 2024?
Moatable achieved an adjusted EBITDA profit of $1.7 million for the fiscal year, marking significant improvement over the previous year.
4. How has Moatable improved its operational losses?
The company's operational losses dropped dramatically from $11.8 million in 2023 down to $3 million in 2024.
5. Where can I find more information about Moatable?
For more information, you can visit Moatable's official website at Moatable.com.
About The Author
Contact Lucas Young privately here. Or send an email with ATTN: Lucas Young as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
