Zoomd Technologies Achieves Record Growth in 2024 Results
Zoomd Technologies Reports Exceptional Financial Growth
Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) has recently disclosed its remarkable financial performance for the fiscal year 2024, marking an impressive milestone in the company’s journey. The Toronto-based company, which specializes in marketing technology, has showcased significant developments in user acquisition and engagement.
Impressive Financial Performance Overview
The financial outcomes reported revealed a compelling trajectory for the company. In fiscal year 2024, Zoomd achieved revenues amounting to US$54.5 million, a staggering 70% increase when compared to the previous year. This growth is not only indicative of the effective strategies being employed but also highlights the robustness of their business model and market engagement.
Strong Revenue Growth
In particular, the last quarter of the fiscal year saw revenues swelling by a remarkable 100%, hitting US$15 million. This is up from US$7.5 million in the prior year’s fourth quarter. Such performance reflects an unwavering commitment to enhancing customer acquisition tactics, underscoring a year of strategic excellence.
Significant Operational Efficiency
Despite increasing sales, Zoomd successfully managed its cost of sales, which stood at US$8.9 million for Q4 2024. This increase in costs reflects an improvement in efficiency, resulting in a substantial increase in gross margin to 39% compared to the previous year. Operating expenses as a portion of revenue also saw a consistent decline, reaching 19%, signaling stronger cost management practices across the business.
Adjusted EBITDA and Net Income Highlights
Another notable achievement was the adjusted EBITDA for 2024, which climbed to US$11.3 million from US$1.7 million in the previous year. The net income for the year rose to US$8.9 million, representing a remarkable turnaround from a loss of US$4.7 million recorded in 2023. This dramatic improvement is attributed to both revenue growth and tighter operational management.
Management Insights
Ido Almany, the CEO, commented on the outstanding results, stating that 2024 has been transformative for Zoomd. He expressed pride in the company’s strategic execution and indicated that the results reflect their scalability and resilience. Under Almany's guidance, the entire team has remained focused on driving sustainable profit growth, positively impacting shareholder value.
Commitment to Innovation and Long-term Value
Chairman Amit Bohensky reiterated this commitment by emphasizing the importance of innovation and the company's focus on long-term business viability. The commitment to investing resources into business that aligns with their vision remains pivotal in ensuring future success.
Looking Ahead: Conference Call Announcement
A conference call is scheduled to provide further insights into the financial results. This call will engage shareholders and stakeholders in a discussion about the results and future strategies, fostering a transparent line of communication.
About Zoomd Technologies
Founded in 2012, Zoomd has made significant strides since its listing on the TSX Venture Exchange in 2019. The company offers a unique mobile app user-acquisition platform that streamlines campaign management across multiple platforms, fulfilling the advertising needs of their clients effectively. By consolidating various media sources into one solution, Zoomd has effectively reduced operational costs for advertisers, providing clear advantages in the competitive landscape.
Frequently Asked Questions
What is the total revenue generated by Zoomd in FY2024?
Zoomd generated total revenues of US$54.5 million in fiscal year 2024.
How much did the net income grow in 2024?
The net income increased to US$8.9 million in 2024, reversing a loss of US$4.7 million from 2023.
What percentage of revenue growth did Zoomd achieve in Q4 2024?
In the fourth quarter of 2024, Zoomd achieved a revenue growth of 100% compared to the same quarter in the previous year.
What are the adjusted EBITDA figures for Zoomd?
The adjusted EBITDA for 2024 reached US$11.3 million, significantly higher than US$1.7 million in 2023.
When is the upcoming conference call scheduled?
The conference call is set for March 26, 2025, at 11 AM ET.
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