Janover (JNVR) - 2023 Q4 - Annual Results

Revenue Growth and Performance - Revenue per transaction increased 54% year-over-year for the year-ended December 31, 2023[8] - Revenue from Small Business transactions grew more than 100% for the second consecutive year[6][8] - Janover's 2023 revenues were $2,003,155, a decrease from $2,150,937 in 2022[20] Financial Position and Assets - Cash and cash equivalents as of December 31, 2023, were $5.1 million[4][8] - Total assets as of December 31, 2023, were $6.68 million, up from $1.34 million in 2022[2] - Total liabilities as of December 31, 2023, were $867,847, compared to $811,535 in 2022[2] - Stockholders' equity increased to $5.82 million in 2023 from $525,378 in 2022[2] Net Loss and Operating Expenses - Net loss for the year-ended December 31, 2023, was $3.4 million, compared to $1.3 million in 2022[9] - Net loss for 2023 was $3,373,794, compared to $1,261,675 in 2022[20] - Operating expenses in 2023 totaled $5,408,047, up from $3,871,332 in 2022, driven by increased sales and marketing, R&D, and general administrative costs[20] - Net loss per common share was $0.40 in 2023, compared to $0.18 in 2022[20] Adjusted EBITDA and Performance Metrics - Adjusted EBITDA loss for 2023 was $1.9 million, compared to $1.2 million in 2022[9] - Adjusted EBITDA and adjusted EBITDA per share are key measures used by Janover's management and Board to evaluate operating performance and make strategic decisions[22] - Adjusted EBITDA excludes stock-based compensation, depreciation, and other income/expense to facilitate comparability across reporting periods[21] Strategic Investments and Milestones - The company completed an IPO in July 2023, raising over $5.0 million[8] - The company launched an AI chatbot interface for commercial lenders under a SaaS licensing model[8] - Janover achieved significant milestones in 2023, including Nasdaq listing in July and acquisition of Groundbreaker in November, signaling a transition to recurring revenue[17] - Janover made substantial investments in 2023 in sales and marketing capabilities and artificial intelligence, building a scalable infrastructure for future growth[17] Share Structure and Equity - Weighted average common shares outstanding increased to 8,451,573 in 2023 from 6,882,581 in 2022[20]