Intouch Insight (INX) Q3 2024 earnings summary

Executive summary

• Revenue grew 18% year-over-year to $6.66M in Q3 2024, with recurring services revenue up 23% to $5.76M.

• Gross margin improved to 48.2% from 41.7% in Q2 2024, driven by a favorable product mix.

• Adjusted EBITDA increased to $575,889, up from $296,515 in Q2 2024 and $509,762 in Q3 2023.

• Operating expenses rose 7% year-over-year due to ongoing acquisition integration.

• Net income reached $454,060, up from $175,455 in Q3 2023.

Financial highlights

• SaaS revenues grew 9% organically year-over-year.

• Income from operating activities was $366,763, compared to $258,531 in Q3 2023.

• Total operating expenses were $2.84M, up from $2.66M in Q3 2023.

Outlook and guidance

• Management expects annual revenues to exceed $25M for the second consecutive year, with continued growth anticipated.