iFabrick (IFA) Q2 2024 earnings summary

Executive summary

• Achieved record revenues in Q2 2024, with strong growth in gross profit and adjusted EBITDA, driven by the Intelligent Fabrics Division.

• Management remains focused on innovation, technology, and expanding product offerings to support long-term growth.

Financial highlights

• Q2 2024 revenues rose 10% year-over-year to $5.8M; six-month revenues up 5% to $12.6M.

• Gross profit margin increased to 42% in Q2 2024 from 40% in Q2 2023; six-month margin at 43%.

• Adjusted EBITDA for Q2 2024 was $357K, up from $260K in Q2 2023; six-month adjusted EBITDA rose to $1.2M.

• Net earnings attributable to shareholders in Q2 2024 were $56K ($0.002/share), down from $133K ($0.004/share) in Q2 2023.

• Cash at quarter-end was $3.0M, with a fully available $6.75M bank line.

Outlook and guidance

• Management expects investments in personnel, advertising, and infrastructure to support sustained growth and shareholder value.