NextTrip (NTRP) Q4 2023 earnings summary

Executive summary

• Revenue increased 19.8% year-over-year to $458,752, driven by the continued implementation of the booking engine.

• Net loss applicable to common shareholders widened to $7.3 million from $5.0 million year-over-year, reflecting higher operating and other expenses.

• The company completed a reverse acquisition of Sigma Additive Solutions, Inc., resulting in a new public listing and a change of name to NextTrip, Inc.

• The business model focuses on a proprietary travel booking platform, media integration, and technology-driven solutions for the travel industry.

Financial highlights

• Revenue: $458,752 for FY 2024, up from $382,832 in FY 2023.

• Cost of revenue: $397,532, up 12% year-over-year.

• Operating expenses: $5,740,577, up 15.3% year-over-year, mainly due to higher professional service fees and amortization.

• Net loss from continuing operations: $6,656,837, compared to $5,033,496 in the prior year.

• Net loss from discontinued operations: $675,314, related to legacy Sigma business wind-down.

• Cash at year-end: $323,805; working capital deficit: $245,005; accumulated deficit: $24.2 million.

Outlook and guidance

• Management anticipates the need to raise at least $5.5 million to continue operations for the next twelve months.

• There is substantial doubt about the company's ability to continue as a going concern without additional funding.

• The company plans to expand its booking platform, invest in R&D, and leverage its media and technology assets for growth.