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Janover (JNVR) - 2023 Q4 - Annual Results
JNVRJanover (JNVR)2024-03-28 20:30

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,adecreasefrom2,003,155, a decrease from 2,150,937 in 2022[20] Financial Position and Assets - Cash and cash equivalents as of December 31, 2023, were 5.1million[4][8]−TotalassetsasofDecember31,2023,were5.1 million[4][8] - Total assets as of December 31, 2023, were 6.68 million, up from 1.34millionin2022[2]−TotalliabilitiesasofDecember31,2023,were1.34 million in 2022[2] - Total liabilities as of December 31, 2023, were 867,847, compared to 811,535in2022[2]−Stockholders′equityincreasedto811,535 in 2022[2] - Stockholders' equity increased to 5.82 million in 2023 from 525,378in2022[2]NetLossandOperatingExpenses−Netlossfortheyear−endedDecember31,2023,was525,378 in 2022[2] Net Loss and Operating Expenses - Net loss for the year-ended December 31, 2023, was 3.4 million, compared to 1.3millionin2022[9]−Netlossfor2023was1.3 million in 2022[9] - Net loss for 2023 was 3,373,794, compared to 1,261,675in2022[20]−Operatingexpensesin2023totaled1,261,675 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 0.18in2022[20]AdjustedEBITDAandPerformanceMetrics−AdjustedEBITDAlossfor2023was0.18 in 2022[20] Adjusted EBITDA and Performance Metrics - Adjusted EBITDA loss for 2023 was 1.9 million, compared to 1.2millionin2022[9]−AdjustedEBITDAandadjustedEBITDApersharearekeymeasuresusedbyJanover′smanagementandBoardtoevaluateoperatingperformanceandmakestrategicdecisions[22]−AdjustedEBITDAexcludesstock−basedcompensation,depreciation,andotherincome/expensetofacilitatecomparabilityacrossreportingperiods[21]StrategicInvestmentsandMilestones−ThecompanycompletedanIPOinJuly2023,raisingover1.2 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]