Avante (XX) Q4 2024 earnings summary

Executive summary

• Achieved 25% annual revenue growth in fiscal 2024, with 35% year-over-year growth in Q4 and 12% improvement in recurring monthly revenues.

• NSSG acquisition positions the company for accelerated international growth and expanded service offerings.

• Launched new services including Argus App, Homeworxx, and Toyboxx, receiving strong market interest.

Financial highlights

• Fiscal 2024 revenue from continuing operations was $24.95M, up 25% year-over-year; Q4 revenue was $7.26M, up 35%.

• Gross profit increased by $2.19M annually and $1.18M in Q4; gross margin rose to 41.3% for the year and 44% in Q4.

• Recurring monthly revenue (RMR) reached $11.39M for the year, up 10%, and $3.02M in Q4, up 12% year-over-year.

• Adjusted EBITDA from continuing operations was $(824)K for fiscal 2024, down from $1.05M in the prior year.

• Net loss from continuing operations was $3.05M, improved from a $3.86M loss in the prior year.

Outlook and guidance

• Management expects accelerated growth in fiscal 2025, driven by NSSG integration and continued organic and acquisition-led expansion.

• Strategic focus on building recurring revenues, achieving industry-consistent Adjusted EBITDA margins, and reinvesting cash flow for growth.