TAT Technologies(US:TATT)2024-11-19 16:19Financial Performance - Q3 2024 - Revenue increased to $40.5 million, a 35% increase compared to $29.9 million in Q3 2023[7] - Gross profit reached $8.5 million, a 46% increase from $5.8 million in Q3 2023[7] - Operating profit surged to $3.4 million, a 96% increase compared to $1.8 million in Q3 2023[7] - Adjusted EBITDA rose to $5.1 million, a 70% increase from $3.0 million in Q3 2023[7] - Net profit increased to $2.9 million, a 33% increase from $2.2 million in Q3 2023[7] Financial Performance - 9 Months 2024 - Revenue for the first 9 months of 2024 was $111.1 million, a 36% increase compared to $82.0 million in the same period of 2023[7] - Gross profit for the first 9 months of 2024 was $23.5 million, a 52% increase from $15.5 million in the same period of 2023[7] - Operating profit for the first 9 months of 2024 was $8.4 million, a 98% increase compared to $4.2 million in the same period of 2023[7] - Adjusted EBITDA for the first 9 months of 2024 was $13.1 million, a 72% increase from $7.7 million in the same period of 2023[7] - Net profit for the first 9 months of 2024 was $7.6 million, a 77% increase from $4.3 million in the same period of 2023[7] Strategic Agreements and Market Opportunity - Honeywell strategic agreements have expanded the Total Addressable Market (TAM) to over $2.5 billion annually after Q1 2024, compared to less than $380 million prior to Q1 2024[35, 39]