Route1 (ROI) Q3 2024 earnings summary

Executive summary

• Q3 2024 saw steady operational improvement, revenue growth, and improving free cash flow, with expectations for further improvement in Q4 and fiscal 2025.

Financial highlights

• Q3 2024 total revenue was CAD $3.71M, up from $3.48M in Q2 2024 but down from $4.52M in Q3 2023.

• Gross profit for Q3 2024 was $1.33M, up from $1.22M in Q2 2024, but down from $1.53M in Q3 2023.

• Net loss in Q3 2024 was ($283K), an improvement from ($328K) in Q2 2024, but wider than ($70K) in Q3 2023.

• Adjusted EBITDA for Q3 2024 was $147K, up from $2K in Q2 2024, but down from $297K in Q3 2023.

Outlook and guidance

• Management expects Q4 2024 to show further quarter-over-quarter improvement, setting up for a financially improved fiscal year 2025.

• Updated operating metrics for 2025 and 2026 will be provided in early 2025 to reflect the next stage of growth.