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Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
VSBLTY Groupe Technologies
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.Q3 2024 earnings summary5 Dec, 2024
Executive summary
Q3 2024 revenue reached $0.35 million, marking a 250% increase year-over-year, with YTD revenue at $868,000, up from $319,000 in 2023.
Revenue growth driven by the Winkel Master Service Agreement and Shelf Nine acquisition.
Deferred revenue of $2.1 million from Winkel JV to be recognized as payments begin in Q1 2025.
Operating loss reduced to $1.4 million in Q3 2024 from $2.9 million in Q3 2023 due to cost controls and cloud architecture improvements.
Strategic focus on profitability and prudent disclosure, with growth plans resuming as profitability is achieved.
Financial highlights
Q3 2024 revenue up 250% year-over-year to $0.35 million; YTD revenue up 172% compared to 2023.
Deferred revenue of $2.1 million and $2.7 million in loans owed by Winkel JV, both expected to be collected in 2025.
Operating loss for Q3 2024 reduced by $1.5 million year-over-year to $1.4 million; YTD operating loss improved from $7.7 million to $4.3 million.
Cost reductions of $1.3 million achieved, including a 50% decrease in cloud computing costs.
Outlook and guidance
Expectation to recognize deferred revenue and recover loans from Winkel JV starting Q1 2025.
Plans to deploy an additional 1,000 Winkel stores in Mexico in 2025, focusing on high-revenue markets.
Anticipated recovery and growth in 2025, with confidence in achieving profitability.
Management anticipates further growth, supported by a robust sales pipeline in both retail and security sectors.
Cash flow positive status possible by year-end on a receipts basis, though not on an audited revenue basis.
Winkel JV: How will $4.8M in debt/deferred revenue be collected?
New retail partner pilot: What is the deployment timeline?
Security pipeline: How does $0.5B translate to cash?
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Next VSBLTY Groupe Technologies earnings date
Q2 202519 Jan, 2026
VSBLTY Groupe Technologies
Next VSBLTY Groupe Technologies earnings date
Q2 202519 Jan, 2026
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Frequently asked questions
VSBLTY Groupe Technologies Corp. is a provider of artificial intelligence-driven security and retail analytics technology. Their solutions are at the intersection of marketing and security, transforming retail spaces and public areas into interactive, smart environments. Through edge and cloud-enabled digital display solutions, VSBLTY allows retailers to enhance customer experiences with proximity-aware, interactive brand messaging based on demographics, identity, or sentiment. The company is headquartered in Philadelphia, Pennsylvania, and its shares are listed on the Canadian Securities Exchange.
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