AudioEye(AEYE) - 2024 Q4 - Annual Results

Revenue Growth - Total revenue for Q4 2024 increased 24% to a record $9.7 million from $7.9 million in the same prior year period[6] - Total revenue for the full year 2024 increased 12% to a record $35.2 million from $31.3 million in 2023[6] - Revenue for Q4 2024 was $9,723,000, a 23.5% increase from $7,869,000 in Q4 2023[30] - For 2025, the company is guiding revenue between $41 million and $42 million, representing an 18% growth at the midpoint[3] Adjusted EBITDA and Earnings - Adjusted EBITDA for Q4 2024 was a record $2.3 million, with an adjusted EPS of $0.18 per share, compared to adjusted EBITDA of $1.3 million and adjusted EPS of $0.11 per share in the same prior year period[6] - The company expects adjusted EBITDA for 2025 to be between $9 million and $10 million, indicating a 41% growth at the midpoint[3] - Adjusted EBITDA for Q4 2024 was $2,291,000, representing an Adjusted EBITDA margin of 24%, compared to 17% in Q4 2023[33] - Adjusted earnings per diluted share for Q4 2024 was $0.18, up from $0.11 in Q4 2023[33] Customer Growth - The company had approximately 127,000 customers as of December 31, 2024, an increase of 17,000 from December 31, 2023[12] Operating Expenses - In Q4 2024, total operating expenses increased 36% to $9.1 million, primarily due to increased selling and marketing expenses and litigation costs[6] - Total operating expenses for Q4 2024 were $9,081,000, compared to $6,665,000 in Q4 2023, reflecting a 36.3% increase[30] Financial Position - Total assets increased to $29,766,000 as of December 31, 2024, from $25,495,000 in 2023, marking a growth of 17.8%[32] - Cash and cash equivalents decreased to $5,651,000 in 2024 from $9,236,000 in 2023, a decline of 38.5%[32] Capital Raising - The company completed an at-the-market offering in Q4 2024, raising approximately $7 million at an average share price of $24.65[12] Product Development - AudioEye launched new role-based courses on its accessibility learning platform, AudioEyeQ, in February 2025[12] Net Loss - Net loss for Q4 2024 was $1,488,000, compared to a net loss of $533,000 in Q4 2023, indicating a deterioration in performance[30] Forward-Looking Statements - The company anticipates providing forward-looking non-GAAP financial measures for adjusted EBITDA and adjusted EPS guidance for Q1 and full year 2025[27]