Akamai(US:AKAM)2025-02-20 21:09Revenue Performance - Fourth quarter revenue was $1.020 billion, a 3% increase year-over-year from $995 million in Q4 2023[4] - Full-year revenue for 2024 was $3.991 billion, up 5% from $3.812 billion in 2023[4] - Total revenue for Q4 2024 reached $1,019,939, a 3% increase year-over-year, with total revenue for the year at $3,991,168, up 5% from 2023[28] - U.S. revenue for Q4 2024 was $530 million, up 3% year-over-year[17] - U.S. revenue for Q4 2024 was $529,879, a 3% increase year-over-year, while international revenue was $490,060, growing by 2%[29] Profitability Metrics - GAAP net income per diluted share for Q4 2024 was $0.91, a 12% decrease from $1.03 in Q4 2023[14] - Non-GAAP net income per diluted share for 2024 was $6.48, a 5% increase from $6.20 in 2023[14] - Net income for Q4 2024 was $139,905,000, compared to $57,907,000 in Q3 2024 and $161,165,000 in Q4 2023, reflecting a significant quarter-over-quarter increase[24] - Non-GAAP net income per diluted share for Q4 2024 was $1.66, up from $1.59 in Q3 2024 and $1.69 in Q4 2023[34] - Total net income for the year ended December 31, 2024, was $504.9 million, down from $547.6 million in 2023[36] Operating Expenses and Cash Flow - Cash from operations for Q4 2024 was $344 million, representing 34% of revenue[15] - Operating cash flow for Q4 2024 was $343,788,000, up from $392,542,000 in Q3 2024 and $389,193,000 in Q4 2023[25] - Total costs and operating expenses for Q4 2024 were $871,879,000, a decrease from $934,042,000 in Q3 2024 and an increase from $810,231,000 in Q4 2023[24] - Research and development expenses for Q4 2024 were $120,245,000, compared to $120,347,000 in Q3 2024 and $109,202,000 in Q4 2023, indicating a year-over-year increase of 10.4%[24] Shareholder Returns - The company repurchased 1.4 million shares for $138 million at an average price of $97.43 per share in Q4 2024[16] - The company repurchased $138,371,000 of common stock in Q4 2024, compared to $165,839,000 in Q3 2024[26] Guidance and Future Expectations - The company provided guidance for Q1 2025 revenue between $1.000 billion and $1.020 billion[19] - Non-GAAP operating margin for 2025 is expected to be 28%[19] - Forward-looking statements indicate expectations for future financial performance, with potential risks including competition, economic uncertainty, and geopolitical conditions[53] Non-GAAP Financial Measures - The company emphasizes the use of non-GAAP financial measures to provide a clearer view of its ongoing business performance[37] - Adjusted EBITDA for Q4 2024 was $429.4 million, with an adjusted EBITDA margin of 42%, consistent with Q3 2024[36] - Adjusted EBITDA excludes various items such as interest, taxes, depreciation, and legal settlements, providing a clearer view of operational performance[47] Capital Expenditures - Capital expenditures for Q4 2024 amounted to $192,668, representing 19% of total revenue, with annual capital expenditures at $675,901[30] - Total cash used in investing activities for the year ended December 31, 2024, was $798,679,000, compared to $1,848,238,000 for the year ended December 31, 2023[26] Employee Metrics - The number of employees at the end of Q4 2024 was 10,748, an increase from 10,281 in the previous year[30] Currency Impact - Foreign currency exchange rates significantly impact revenue and earnings from international operations, with management expecting continued effects[51] - The impact of foreign currency exchange rates is calculated by translating current period results using prior period average rates, enhancing financial performance understanding[52]