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Givex (GIVX) investor relations material
Givex Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved net income of $175K for Q2 2024, reversing a net loss of $978K in Q2 2023; net income for the six months was $667K versus a loss of $2.2M year-over-year.
Achieved positive net income for the second consecutive quarter, with significant year-over-year improvements in revenue, gross profit, and net income for both the quarter and six-month period ending June 30, 2024.
Revenue grew to $20.9M in Q2 2024, up 7.4% year-over-year; six-month revenue reached $41.7M, an 8% increase.
Gross profit for Q2 2024 was $15.2M, up from $14.1M in Q2 2023; gross margin remained strong.
Management remains optimistic about continued growth in 2024, citing new business opportunities.
Financial highlights
Q2 2024 revenue: $20.9M (Q2 2023: $19.4M); six-month revenue: $41.7M (2023: $38.6M).
Net income for Q2 2024: $175K (Q2 2023: loss of $978K); six-month net income: $667K (2023: loss of $2.2M).
EBITDA for Q2 2024 was $1.9M, up 224% year-over-year; six-month EBITDA was $3.6M, up 470%.
Cash and cash equivalents at June 30, 2024: $24.2M, up from $22.2M at year-end 2023.
Operating cash flow for six months: $4.0M, up from $2.6M year-over-year.
Outlook and guidance
Management continues to focus on growth in core technology solutions and integration of recent acquisitions.
Management expects the positive trend in financial performance to continue for the remainder of 2024, supported by active pursuit of new business opportunities.
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