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VSBLTY Groupe Technologies (VSBY) investor relations material
VSBLTY Groupe Technologies Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2024 revenue reached $0.35 million, up 250% year-over-year, with YTD revenue at $868,000, driven by the Winkel Master Service Agreement and Shelf9 acquisition.
Operating loss narrowed to $1.4 million from $2.9 million in Q3 2023, attributed to cost controls and cloud architecture improvements.
Deferred revenue from the Winkleville JV totals $2.1M, with $2.7M in JV debt due to be recovered in 2025.
Broad austerity initiatives led to $1.3 million in cost reductions, including a 50% decrease in cloud computing costs.
Shelf9 underperformed expectations but has entered a pilot with a major partner for up to 3,000 retail locations in 2025.
Financial highlights
Q3 2024 revenue up 250% year-over-year to $0.35 million; YTD revenue at $868,000 versus $319,000 last year.
Operating loss improved to $1.4 million in Q3 2024 from $2.9 million in Q3 2023; YTD operational loss reduced to $4.3M from $7.7M.
Cost reductions of $1.3 million achieved, with cloud computing costs cut by 50%.
Deferred revenue and loans from Winkleville JV total $4.8M, expected to be recognized/collected in 2025.
Outlook and guidance
Expectation to recognize deferred revenue and recover JV debt in 2025 as Winkleville JV is now a going concern.
Management anticipates further growth, supported by a robust sales pipeline in retail and security sectors.
Plans to deploy an additional 1,000 Winkel stores in Mexico in 2025, focusing on high-revenue markets.
Shelf9 pilot with a $1B partner could lead to significant scale if pilot metrics are met.
Anticipates cash flow positivity possible by year-end on a cash receipts basis, but not on an audited revenue recognition basis.
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