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Issuer Direct (ISDR) - 2024 Q4 - Annual Results
ISDRIssuer Direct (ISDR)2025-03-25 13:01

Revenue Performance - Revenue for Q4 2024 increased by 1% to 5.8millioncomparedto5.8 million compared to 5.76 million in Q4 2023[6] - Full year 2024 total revenue was 23.057million,a623.057 million, a 6% decrease from 24.522 million in 2023[11] - For the three months ended December 31, 2024, the company reported revenues of 5,826,000,aslightincreasefrom5,826,000, a slight increase from 5,762,000 in the same period of 2023[29] Profitability and Loss - Adjusted EBITDA for Q4 2024 was 871,000,representing15871,000, representing 15% of revenue, up from a loss of (27,000) in Q4 2023[7] - Net loss from continuing operations for Q4 2024 was (10.945)million,or(10.945) million, or (2.85) per diluted share, compared to a net loss of (1.512)million,or(1.512) million, or (0.40) per diluted share in Q4 2023[7] - Operating loss for the full year 2024 was (16.319)million,comparedto(16.319) million, compared to (2.739) million in 2023, primarily due to a 14.15millionimpairmentloss[11]−Thecompanyreportedanetlossfromcontinuingoperationsof14.15 million impairment loss[11] - The company reported a net loss from continuing operations of (13,281,000) for the year ended December 31, 2024, compared to (3,441,000)in2023,indicatingaworseninglosssituation[29]−Thecompanyreportedanetlossof(3,441,000) in 2023, indicating a worsening loss situation[29] - The company reported a net loss of 10,793 million for the year ended December 31, 2024, compared to a net income of 766millionin2023[32]CashFlowandFinancialHealth−Cashflowfromoperationsimprovedto766 million in 2023[32] Cash Flow and Financial Health - Cash flow from operations improved to 353,000 in Q4 2024 from (236,000)inQ42023[6]−ThenetcashprovidedbyoperatingactivitiesforthefullyearendedDecember31,2024,was(236,000) in Q4 2023[6] - The net cash provided by operating activities for the full year ended December 31, 2024, was 400,000, a significant improvement from a cash used of (741,000)in2023[17]−TheadjustedfreecashflowforthefullyearendedDecember31,2024,was(741,000) in 2023[17] - The adjusted free cash flow for the full year ended December 31, 2024, was 26,000, compared to (476,000)in2023,reflectingapositiveturnaround[17]−Netcashprovidedbyoperatingactivitiesfromdiscontinuedoperationswas(476,000) in 2023, reflecting a positive turnaround[17] - Net cash provided by operating activities from discontinued operations was 2,760 million, down from 3,801millionin2023[32]−Totalcashandcashequivalentsattheendoftheperiodwere3,801 million in 2023[32] - Total cash and cash equivalents at the end of the period were 4,103 million, a decrease from 5,714millionatthebeginningoftheyear[32]AssetandLiabilityManagement−Totalassetsdecreasedfrom5,714 million at the beginning of the year[32] Asset and Liability Management - Total assets decreased from 65,152,000 in 2023 to 50,638,000in2024,adeclineofapproximately22.350,638,000 in 2024, a decline of approximately 22.3%[26] - The company's total liabilities decreased from 29,732,000 in 2023 to 25,412,000in2024,areductionofabout14.525,412,000 in 2024, a reduction of about 14.5%[26] Customer Metrics - Subscription customers increased to 1,124 in Q4 2024 from 1,053 in Q4 2023[6] - Annual recurring revenue (ARR) for subscriptions reached 10.735 million, up from 9.489millionattheendof2023[11]ImpairmentandInvestments−Thecompanyincurredanimpairmentlossonintangibleassetsof9.489 million at the end of 2023[11] Impairment and Investments - The company incurred an impairment loss on intangible assets of 14,150,000 for the three months ended December 31, 2024, compared to no such loss in the same period of 2023[29] - The company incurred a loss on impairment of intangible assets amounting to 14,150million,indicatingpotentialchallengesinassetvaluation[32]−Capitalizedsoftwareexpendituresroseto14,150 million, indicating potential challenges in asset valuation[32] - Capitalized software expenditures rose to 597 million, compared to $478 million in 2023, reflecting ongoing investment in technology[32] Strategic Outlook - The company aims to optimize capital allocation and increase customer counts and market share moving forward[4] - The company expects to continue to award stock in exchange for services, but the amount of stock-based compensation is excluded from certain adjustments due to its variability[1] - The company did not make any acquisitions during the year, as indicated by the absence of cash outflows for business purchases[32]