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Quisitive Solutions (QUIS) investor relations material
Quisitive Solutions Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q3 2024 delivered sequential revenue and EBITDA improvements, with gross margins above 40% and stable year-over-year performance.
Recurring revenue remained strong at over 40%, with 90% of revenue from customers engaged for more than a year.
AI initiatives and partnership with Microsoft drove a robust pipeline of over 200 AI opportunities, spanning public sector, retail, manufacturing, and healthcare.
Completed hiring for the Microsoft-funded AI Black Belt team, enhancing Azure-based AI deployment capabilities at no direct cost in the first year.
Awarded 2024 Microsoft Analytics Partner of the Year and participated in major Microsoft events to strengthen partnership and customer engagement.
Financial highlights
Q3 2024 revenue from continuing operations was $30.7M, up from $29.6M in Q2 2024 and nearly flat year-over-year from $30.68M in Q3 2023.
Recurring revenue rose to 40.4% from 37.2% a year ago.
Gross margin was $13.2M (42.9% of revenue), unchanged year-over-year but up from $12.5M sequentially.
Adjusted EBITDA was $4.2M, up from $3.9M in Q2 but down from $4.9M in Q3 2023; EBITDA margin increased to 14% from 13% sequentially.
Loss from continuing operations was $397K in Q3 2024, compared to a loss of $1.38M in Q3 2023.
Outlook and guidance
Fiscal 2024 revenue guidance: $119M–$121M; pro forma adjusted EBITDA: $15M–$16M.
Q4 expected to be seasonally lower due to fewer billable days, consistent with prior years.
AI Black Belt team expected to drive revenue impact starting in Q2 2025 as customer readiness and budgeting mature.
Early 2025 expected to be a key momentum-building phase for growth.
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