Revenue Performance - Revenue for the three months ended September 30, 2024, was approximately $619,000, an increase of 6% compared to $584,000 for the same period in 2023[110]. - Total revenue for the nine months ended September 30, 2024 was approximately $1.5 million, a decrease of $182,000 or 11% from approximately $1.7 million in the same period of 2023[120]. - Approximately 20% of total revenue for the nine months ended September 30, 2024 was recurring revenue, with subscription revenue reaching approximately $295,000[120]. Average Revenue per Transaction - The average revenue per transaction increased by 26% to approximately $12,000 in Q3 2024, up from approximately $10,000 in Q3 2023, due to a change in average loan size[110]. - The average revenue per transaction increased by 9% to approximately $12,000 in the nine months ended September 30, 2024, compared to approximately $11,000 in the same period of 2023[120]. Recurring Revenue - Approximately 22% of total revenue for Q3 2024 was recurring revenue, compared to 20% for Q2 2024, with subscription revenue reaching approximately $134,000[110]. - The annual recurring revenue (ARR) run-rate reached approximately $480,000 for Q3 2024, a sequential increase of 58% from approximately $303,000 in Q2 2024[110]. - Annual recurring revenue (ARR) run-rate reached approximately $480,000 as of September 30, 2024, compared to no ARR in the prior year[120]. Operating Expenses - Total operating expenses decreased by 52% to $1,065,127 in Q3 2024, down from $2,222,431 in Q3 2023[108]. - Total operating expenses for the nine months ended September 30, 2024 were approximately $3.77 million, a decrease of $41,472 or 1% from $3.81 million in the same period of 2023[119]. - Sales and marketing expenses for Q3 2024 were approximately $299,000, a decrease of $465,000 or 61% compared to $764,000 in Q3 2023[113]. - Sales and marketing expenses decreased by approximately $245,000, or 18%, to $1.1 million for the nine months ended September 30, 2024, compared to $1.4 million for the same period in 2023[124]. - Research and development expenses for Q3 2024 were approximately $151,000, down $96,000 or 39% from $247,000 in Q3 2023[114]. - Research and development expenses increased by approximately $36,000, or 8%, to $479,000 for the nine months ended September 30, 2024, compared to $443,000 for the same period in 2023[126]. - General and administrative expenses for Q3 2024 were approximately $564,000, a decrease of $647,000 or 53% compared to $1.2 million in Q3 2023[115]. - General and administrative expenses remained stable at approximately $2.0 million for both the nine months ended September 30, 2024, and 2023[127]. Net Loss - Net loss for Q3 2024 was $471,255, a significant improvement of 70% compared to a net loss of $1,578,528 in Q3 2023[108]. - Net loss for the nine months ended September 30, 2024 was approximately $2.24 million, compared to a net loss of approximately $2.20 million in the same period of 2023[119]. - Adjusted EBITDA for the nine months ended September 30, 2024, was approximately $(353,383), compared to $(407,106) for the same period in 2023[140]. Cash Flow - Cash used in operating activities was approximately $2.2 million for the nine months ended September 30, 2024, compared to approximately $908,000 for the same period in 2023, reflecting an increase of $1.3 million[134]. - Cash used in investing activities was approximately $16,000 for the nine months ended September 30, 2024, compared to approximately $9,000 for the same period in 2023[135]. - Cash used in financing activities was approximately $53,000 for the nine months ended September 30, 2024, a decrease from approximately $5.8 million for the same period in 2023[136]. Transactions and Market Activity - The company closed 36 transactions on its marketplace in Q3 2024, compared to 60 transactions in Q3 2023[110]. Future Plans - The company plans to focus on expanding its sales channels and enhancing its product offerings in fiscal 2024[97]. - The acquisition of Groundbreaker and the launch of new subsidiaries are expected to increase recurring revenue streams moving forward[96]. Other Financial Information - Cost of revenue for Q3 2024 was approximately $8,000, representing about 1% of total revenue[111]. - Cost of revenue for the nine months ended September 30, 2024 was approximately $24,000, representing about 2% of total revenue[122]. - The Company derives revenue from SaaS subscription fees recognized over the term of customer contracts[146]. - As of September 30, 2024, there was approximately $201,000 in deferred revenue related to SaaS fees received in advance, to be recognized in 2024 and 2025[147]. - The Company evaluates goodwill and indefinite-lived intangibles annually for impairment, with no impairment necessary as of September 30, 2024, and December 31, 2023[149]. - Stock-based compensation is recorded based on the fair value of equity instruments issued, recognized over the employee's required service period[150]. - The Company did not have any off-balance sheet arrangements during the periods presented[151].

Core Insights - Janover Inc. has entered a licensing agreement with a top 20 publicly traded commercial real estate professional services firm to deploy its AI tools, enhancing client engagement and communication in the commercial real estate sector [1][2] - This partnership signifies a pivotal moment in Janover's shift towards subscription revenue, particularly through licensing its customized conversational AI technology [1][2] Company Overview - Janover is an AI-enabled platform that connects the commercial real estate industry, serving over one million annual web users and more than 1,000 lenders, including over 10% of U.S. banks [3] - The company provides a range of services including debt capital markets, real estate syndication software, data and AI licensing, and insurance brokerage solutions, focusing on technology-first solutions for multifamily and commercial real estate professionals [3] Technology Deployment - The AI tools will be implemented in a phased approach, allowing Janover to collaborate closely with interested parties to maximize value delivery [2] - The technology aims to enhance user experience and reduce friction across various touchpoints, achieving improvements that were not possible two years ago [2]

Core Insights - Janover Inc. has launched Janover Pro, a subscription-based service providing access to a comprehensive dataset of commercial lenders, and has signed its first subscriber [1][2][3] Group 1: Product Offering - Janover Pro offers access to over 10% of all U.S. banks, 35% of the top 100 credit unions, and more than 1,000 additional commercial lenders, featuring major loan products such as Fannie Mae, Freddie Mac, FHA, and CMBS [2] - The service is available on a 3-year subscription basis, providing continuous updates and access to the latest lender information [2] Group 2: Market Positioning - The CEO of Janover stated that Janover Pro aims to democratize access to commercial real estate data, allowing smaller operators to compete with larger firms like JLL and CBRE [3] - The company envisions Janover Pro evolving into a platform similar to Costar for commercial loan origination, enhancing its subscription revenue model [3] Group 3: Future Developments - Future updates for Janover Pro will include features such as creating and sharing professional offering memorandums and advanced deal shopping [3] - The company plans to integrate an AI commercial loan advisor into the product to streamline the financing process [3] Group 4: Company Overview - Janover Inc. is focused on revolutionizing the commercial real estate lending market by making it more efficient and accessible, connecting borrowers with a wide range of lenders [5] - The company targets a growing segment of small business owners, which it identifies as a significant growth opportunity [5]

Boca Raton, FL, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) ("Janover" or the "Company"), an AI-enabled platform for commercial real estate transactions, today announced it has entered into a licensing agreement for its artificial intelligence ("AI") technology with International Land Alliance, Inc. (OTCQB: ILAL) ("ILAL" or "International Land Alliance"), a land investment and development firm. This collaboration will integrate a component of Janover's generative AI technology into ILAL's ...

With Another Quarter of Sequential Revenue Growth Achieved a Record 20% of Total Revenue from Recurring and Subscription Revenue BOCA RATON, Fla., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) ("Janover" or the "Company"), an AI-enabled platform for commercial real estate transactions, provided a business update, and announced its financial results for the second quarter ended June 30, 2024. Q2 2024 Financial Highlights 7% sequential increase in revenue for Q2 2024 compared to Q1 2024; 20% o ...

Boca Raton, FL, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) ("Janover" or the "Company"), an AI-enabled platform for commercial real estate transactions, today provided an update on its wholly-owned subsidiary Groundbreaker Tech Inc. ("Groundbreaker"), its recurring revenue B2B Software-asa-Service ("SaaS") platform for multifamily and commercial real estate syndicators. Janover, which acquired Groundbreaker in November 2023, reports that this new business line achieved profitability for t ...

Boca Raton, FL, July 31, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) ("Janover" or the "Company"), an AI-enabled platform for commercial real estate transactions, today provided an update on Janover Insurance Group ("Janover Insurance"), its insurtech subsidiary for commercial property insurance and more. The Company officially launched Janover Insurance in March 2024 and is pleased to report that Janover Insurance achieved profitability in May 2024. Our total monthly recurring revenue for the mont ...

"Janover Insurance has already been licensed in several states and we are building out our digital infrastructure to insert our insurance offerings throughout our funnel and sales processes while building out new customer acquisition channels. In May, Janover Insurance generated its first month of revenue, accounting for approximately 40% of the total monthly revenue from our core subscription business. We believe the insurance business will be a meaningful addition to our platform delighting our clients an ...

Blake Janover, CEO of Janover, stated, "We are pleased to report that Groundbreaker achieved profitability in May, reflecting an increase in our operating margins due to the hard work and strict financial discipline of our team. We expect this positive trend to continue to improve in June and throughout the rest of the year. Since acquiring Groundbreaker, we have integrated it into Janover's ecosystem, leveraging our highly automated, AI- BOCA RATON, Fla., July 11, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nas ...

Contact: Crescendo Communications, LLC Tel: 212-671-1020 Email: jnvr@crescendo-ir.com Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c16e569a-5a05-43c4-97fb-a13e624d95a3 https://www.globenewswire.com/NewsRoom/AttachmentNg/f5f4ea72-cb5f-41bd-80cc-97d7992b8bab BOCA RATON, Fla., July 11, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) ("Janover" or the "Company"), an AI-enabled platform for commercial real estate transactions, today provided an u ...