iFabrick (IFA) Q4 2024 earnings summary

Executive summary

• Achieved record Q4 2024 sales of $10.5M, up 55% year-over-year, driven by new apparel programs.

• Fiscal 2024 set records in both revenue and profitability, with EPS of $0.054.

• 2024 revenue reached $27.3M for 12 months, up 20% on a proportionate basis from the prior 15-month period.

• Management remains optimistic about 2025, citing a robust roadmap, new category launches, and expectations for double-digit sales growth and increased net earnings.

Financial highlights

• Q4 2024 revenue: $10,495,982 (+55% YoY); gross profit: $4,168,114 (+63% YoY); gross margin: 40% (up from 38%).

• FY 2024 revenue: $27,327,390 (12 months), a 20% increase on a proportionate basis.

• FY 2024 gross profit: $11,302,084 (41% margin), up 28% on a proportionate basis.

• Adjusted EBITDA for FY 2024: $2,743,670 (+177% on a proportionate basis); Q4: $1,895,396 (+636% YoY).

• FY 2024 net income: $1,632,614 ($0.054 per share), compared to a net loss of $2,107,522 in the prior period.

Outlook and guidance

• Management expects double-digit growth for 2025 and beyond, with new product categories launching.

• Confident in ability to double revenues without external capital, leveraging increased credit line and working capital.

• 2025 is described as having a comfortable roadmap, with 2026 planning already underway.