Eva Live (GOAI) Q4 2024 earnings summary

Executive summary

• Operates an AI-driven digital marketing platform, Eva Platform, and Eva XML Platform, focusing on automated ad campaign management and media monetization for North American clients, mainly advertising agencies and businesses in various sectors.

• Revenue is highly concentrated, with the top three customers accounting for 85% of 2024 revenue; loss of any could significantly impact financial health.

• Completed a reverse capitalization with EvaMedia in 2021, making EvaMedia the accounting acquirer; also acquired AdFlare, a header bidding technology company, in 2022.

Financial highlights

• Revenue for FY 2024 was $9.33M, up from $5.10M in FY 2023, driven by increased client spending.

• Net loss for FY 2024 was $3.75M, an improvement from a $6.61M net loss in FY 2023, mainly due to lower share-based expenses.

• General & administrative expenses were $7.48M (80.2% of revenue) in 2024, down from $8.68M (170.3% of revenue) in 2023.

• Media traffic purchases rose to $5.57M (59.7% of revenue) in 2024 from $2.83M (55.6% of revenue) in 2023.

• Cash at year-end 2024 was $76K, down from $473K at year-end 2023; accumulated deficit reached $28.47M.

Outlook and guidance

• Management expects to continue investing in sales, marketing, and technology, with planned capital expenditures of up to $250K in the next 12 months.

• Additional capital will be required to support growth and ongoing operations; no firm funding sources are currently secured.

• The company’s ability to continue as a going concern depends on raising new capital and achieving sustainable revenue growth.