Insignia(LDWY) - 2024 Q4 - Annual Results

Financial Performance - Net revenue for Q4 2024 was $6.2 million, with all revenue coming from the Bloomia acquisition[6]. - Gross loss in Q4 2024 was $0.6 million, representing 9.4% of sales[5]. - Operating loss for Q4 2024 was $3.9 million, an increase from a loss of $0.5 million in Q4 2023[10]. - Net loss attributable to Lendway for Q4 2024 was $2.9 million, or a loss of $1.66 per share, compared to a loss of $0.3 million, or $0.19 per share in Q4 2023[13]. - Adjusted EBITDA for Q4 2024 was a loss of $2.7 million, compared to a loss of $0.6 million in Q4 2023[16]. - Full year 2024 net revenue was $37.8 million, with a gross profit of $6.5 million, or 17.2% of sales[7][9]. - Operating loss for the full year 2024 was $6.7 million, compared to a loss of $3.5 million in 2023[10]. - Net loss from continuing operations for 2024 was $6.9 million, up from a loss of $3.0 million in 2023[12]. - Revenue for Q4 2024 was $6,192,000, compared to $0 in Q4 2023, indicating a significant increase[21]. - Gross loss for Q4 2024 was $(582,000), while the gross profit for the year ended December 31, 2024 was $6,509,000[21]. - Operating loss for Q4 2024 was $(3,888,000), compared to $(536,000) in Q4 2023, reflecting increased operational challenges[21]. - Net loss from continuing operations for the year ended December 31, 2024 was $(6,901,000), compared to $(3,021,000) in 2023[26]. - Adjusted EBITDA for the year ended December 31, 2024 was $1,013,000, a recovery from $(3,512,000) in 2023[26]. Cash and Liquidity - Cash and cash equivalents as of December 31, 2024, were $1.8 million, down from $16.1 million a year prior[18]. - Cash and cash equivalents decreased to $1,759,000 in 2024 from $16,077,000 in 2023, indicating liquidity challenges[23]. Assets and Liabilities - Total assets as of December 31, 2024 were $99,985,000, a significant increase from $16,673,000 in 2023[23]. - Total debt as of December 31, 2024 was $42,090,000, with total liabilities at $88,091,000[23]. Acquisition Impact - Bloomia generated $3.7 million of adjusted EBITDA since its acquisition, with stronger sales expected in the first half of the year[17]. - The company reported a net loss attributable to Lendway, Inc. of $(2,940,000) for Q4 2024, compared to $(324,000) in Q4 2023[21]. - The company is focusing on acquisition-related costs and integration, with $2,877,000 in costs reported for the year ended December 31, 2024[26].