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Pluribus (PLRB) investor relations material

Pluribus Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 earnings summary27 Nov, 2024

Executive summary

  • Q3 2024 focused on strategic review, including divestiture of Digital Enablement and POWR to strengthen balance sheet and reduce bank debt.

  • Revenue for Q3 2024 declined 13% year-over-year to $4,462, mainly due to lower eLearning and eCommerce revenue.

  • Adjusted EBITDA loss improved 11% year-over-year to $(477) in Q3 2024; nine-month Adjusted EBITDA turned positive at $151.

  • Net loss for Q3 2024 was $2,672, a 10% improvement from Q3 2023; nine-month net loss narrowed 3% to $9,125.

  • Restructuring program initiated in Q4 2024 expected to reduce annualized costs by $1,800, with impact in Q1 2025.

Financial highlights

  • Q3 2024 revenue: $4,462, down 13% from $5,107 in Q3 2023; nine-month revenue up 3% to $15,536.

  • Q3 2024 Adjusted EBITDA: $(477), improved from $(536) in Q3 2023; nine-month Adjusted EBITDA: $151, up from $(2,233).

  • Q3 2024 net loss: $2,672, improved from $2,982 in Q3 2023; nine-month net loss: $9,125, improved from $9,425.

  • Cash on hand at September 30, 2024: $678, down from $1,279 at December 31, 2023.

  • Gross profit for Q3 2024: $2,413, down 15% year-over-year; operating expenses decreased 14% to $2,890.

Outlook and guidance

  • Strategic review ongoing to optimize capital structure, including further divestitures and refinancing opportunities.

  • Sale of Digital Enablement and POWR intended to provide liquidity for debt reduction and focus on profitable eLearning vertical.

  • Cost reductions from restructuring expected to be reflected in Q1 2025 results.

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Frequently asked questions

Pluribus Technologies Corp. is a technology company that specializes in acquiring and scaling small to mid-sized software businesses. The company's focus is on digital transformation solutions, helping its portfolio companies improve their offerings and expand their market reach. Pluribus targets businesses operating in niche markets across various sectors, including eLearning, eCommerce, and digital publishing. Through its acquisition strategy, the company aims to enhance the operational efficiency and growth potential of its acquired businesses by providing strategic management and technological resources.The company is headquartered in Toronto, Ontario, Canada, and its shares are listed on the TSX.

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