Terminal X Online (TRX) Q4 2024 earnings summary

Executive summary

• Achieved record results in 2024 with revenue up 16.2% to ₪492.3M and double-digit profit growth year-over-year.

• Net income reached ₪28M in 2024, reversing a net loss in 2023, with a net margin of 5.7%.

• Strategic acquisitions of Strongful and Ada Lazorgan expanded the independent sites segment and customer base.

• Continued market leadership in online fashion, supported by increased transactions and new brand activity.

• Closed Greek e-commerce site in November 2024 due to negative contribution, with no material financial impact.

Financial highlights

• Annual revenue reached ₪492.3M in 2024, up 16.2% from 2023.

• Adjusted EBITDA for 2024 was ₪77M, with a margin of 15.7%, up from ₪48M and 11.2% in 2023.

• Net income for 2024 was ₪28M, compared to ₪0M in 2023.

• Cash and short-term investments totaled ₪172M at year-end, up from ₪145M in 2023.

• Gross profit rose 17.3% to ₪217.6M, with a gross margin of 44.2%.

Outlook and guidance

• Management expects continued double-digit growth and further margin improvement, focusing on profitability and cost efficiency.

• Plans to accelerate acquisitions, scale up independent site operations, and expand product categories.

• Targeting sustained adjusted EBITDA margin of ~15% and renewed revenue growth after margin stabilization.