Zoomd Technologies Reports Fourth Quarter and Fiscal 2024 Financial Results
Conference call will be held on March 26, 2025 at 11AM ET
TORONTO, March 25, 2025 /PRNewswire/ -- Zoomd Technologies Ltd. (TSXV:ZOMD) (OTC:ZMDTF) and its wholly-owned subsidiary Zoomd Ltd. (collectively, "Zoomd" or the "Company"), the marketing technology (MarTech) user-acquisition and engagement platform, today reported its financial results for the three months and full year periods ended December 31, 2024. The Company's financial statements and management discussion and analysis ("MD&A") are available in the Investors section of Zoomd's website at https://zoomd.com/investors/ and on SEDAR+ under the Company's profile.
Unless otherwise stated herein, all amounts are presented in United States dollars.
Key Financial Highlights
Revenues in FY2024 were US$54.5M, reflecting 70% growth compared to FY2023.
FY2024 Gross Margin of 39%, representing a 2% YoY increase.
Adjusted EBITDA of US$11.3M in FY2024 vs. US$1.7M in FY2023.
Net income of US$8.9M in FY2024, an increase of US$13.6M compared to FY2023.
Generated operating cash flow of US$7.7M resulting in an EoY cash balance of US$9.2M.
Management Commentary
Ido Almany, CEO of Zoomd Technologies, stated:
"2024 was a transformative year, demonstrating the strength of Zoomd's strategic execution. We achieved a 100% year-over-year revenue increase in Q4, contributing to a 70% growth for the full year. Annual Adjusted EBITDA reached US$11.3 million, and we delivered net income of US$8.9 million, marking a notable turnaround from a US$4.7 million loss in 2023.
This performance highlights the scalability and resilience of our business model, technology, and approach, validated by seven consecutive quarters of operating income growth.
These results reflect the dedication, hard work, and disciplined execution by the entire Zoomd team. We remain committed to sustained profitable growth, prioritizing margin expansion, strong cash generation, and a compelling return on investment to drive continued shareholder value."
Amit Bohensky, Chairman of Zoomd Technologies, stated:
"Zoomd's performance in 2024 reflects the foundation we've built through focus, discipline, and belief in our strategy. Looking ahead, we remain committed to investing in the vision that drives us - scaling innovation, deepening customer value, and building a business that delivers over the long term."
Fourth Quarter 2024 Financial Highlights
Revenues in Q4.24 increased by 100% to US$15M, compared to US$7.5M in Q4.23. During 2024 the Company achieved consistent quarterly revenue growth each quarter compared to the corresponding quarter in the previous year.
Cost of sales for Q4.24 amounted to US$8.9M, reflecting an 80% increase compared to Q4.23. However, with revenues increasing 100% ...
