Altigen Technologies Reports Full Year and Fourth Quarter Fiscal 2024 Results
Altigen Technologies (ATGN) reported its fiscal 2024 results with fourth-quarter revenue reaching $3.7 million, a 7.3% increase from the previous year, marking a 12-year high. The company's full-year revenue was $13.6 million, slightly down from $13.7 million in FY2023.
Key financial metrics for FY2024 include services revenue of $5.1 million (up 19.9%), cloud services revenue of $7.1 million (down 7.3%), and gross margin of 61.6% (down from 63.2%). GAAP net income was $1.6 million with diluted EPS of $0.06, primarily due to a $1.8 million non-cash tax benefit. Non-GAAP net income was $0.5 million with diluted EPS of $0.02.
Altigen Technologies (ATGN) ha riportato i risultati fiscali per il 2024, con un fatturato del quarto trimestre che ha raggiunto 3,7 milioni di dollari, un aumento del 7,3% rispetto all'anno precedente, segnando un massimo di 12 anni. Il fatturato totale dell'azienda per l'intero anno è stato di 13,6 milioni di dollari, leggermente in calo rispetto ai 13,7 milioni di dollari del FY2023.
I principali indicatori finanziari per il FY2024 includono un fatturato per servizi di 5,1 milioni di dollari (in aumento del 19,9%), un fatturato per servizi cloud di 7,1 milioni di dollari (in calo del 7,3%) e un margine lordo del 61,6% (in calo rispetto al 63,2%). L'utile netto GAAP è stato di 1,6 milioni di dollari con un utile per azione diluito di 0,06 dollari, principalmente a causa di un beneficio fiscale non monetario di 1,8 milioni di dollari. L'utile netto non GAAP è stato di 0,5 milioni di dollari con un utile per azione diluito di 0,02 dollari.
Altigen Technologies (ATGN) reportó sus resultados fiscales para 2024, con ingresos en el cuarto trimestre alcanzando 3.7 millones de dólares, un aumento del 7.3% en comparación con el año anterior, marcando un máximo de 12 años. Los ingresos totales de la compañía para el año completo fueron de 13.6 millones de dólares, ligeramente por debajo de los 13.7 millones de dólares en el FY2023.
Los indicadores financieros clave para el FY2024 incluyen ingresos por servicios de 5.1 millones de dólares (aumento del 19.9%), ingresos por servicios en la nube de 7.1 millones de dólares (disminución del 7.3%) y un margen bruto del 61.6% (descenso desde el 63.2%). El ingreso neto GAAP fue de 1.6 millones de dólares con una EPS diluida de 0.06 dólares, principalmente debido a un beneficio fiscal no monetario de 1.8 millones de dólares. El ingreso neto no GAAP fue de 0.5 millones de dólares con una EPS diluida de 0.02 dólares.
Altigen Technologies (ATGN)는 2024 회계연도 결과를 보고했으며, 4분기 수익은 370만 달러에 달해 전년 대비 7.3% 증가하였고, 이는 12년 만에 최고치를 기록한 것입니다. 회사의 전체 연간 수익은 1,360만 달러로, FY2023의 1,370만 달러보다 약간 감소하였습니다.
2024 회계연도를 위한 주요 재무 지표에는 서비스 수익 510만 달러(19.9% 증가), 클라우드 서비스 수익 710만 달러(7.3% 감소), 그리고 총 이익률 61.6% (63.2%에서 감소)가 포함됩니다. GAAP 순이익은 160만 달러였으며, 희석 EPS는 0.06달러로, 주로 180만 달러의 비현금 세금 혜택에 기인했습니다. Non-GAAP 순이익은 50만 달러로, 희석 EPS는 0.02달러였습니다.
Altigen Technologies (ATGN) a annoncé ses résultats fiscaux pour 2024, avec un chiffre d'affaires du quatrième trimestre atteignant 3,7 millions de dollars, en hausse de 7,3 % par rapport à l'année précédente, marquant un sommet de 12 ans. Le chiffre d'affaires total de l'entreprise pour l'année entière a été de 13,6 millions de dollars, légèrement en baisse par rapport à 13,7 millions de dollars en FY2023.
Les indicateurs financiers clés pour l'exercice 2024 comprennent un chiffre d'affaires de services de 5,1 millions de dollars (augmentation de 19,9 %), un chiffre d'affaires de services cloud de 7,1 millions de dollars (baisse de 7,3 %) et une marge brute de 61,6 % (en baisse par rapport à 63,2 %). Le bénéfice net GAAP était de 1,6 million de dollars avec un BPA dilué de 0,06 dollar, principalement en raison d'un avantage fiscal non monétaire de 1,8 million de dollars. Le bénéfice net non GAAP était de 0,5 million de dollars avec un BPA dilué de 0,02 dollar.
Altigen Technologies (ATGN) hat seine Ergebnisse für das Geschäftsjahr 2024 veröffentlicht, wobei die Umsätze im vierten Quartal 3,7 Millionen US-Dollar erreichten, was einem Anstieg von 7,3 % im Vergleich zum Vorjahr entspricht und einen 12-Jahres-Höchststand markiert. Der Gesamterlös des Unternehmens für das ganze Jahr betrug 13,6 Millionen US-Dollar, was leicht unter den 13,7 Millionen US-Dollar im FY2023 lag.
Wichtige Finanzkennzahlen für das Geschäftsjahr 2024 umfassen einen Dienstleistungsumsatz von 5,1 Millionen US-Dollar (19,9 % Anstieg), Cloud-Service-Umsatz von 7,1 Millionen US-Dollar (7,3 % Rückgang) und eine Bruttomarge von 61,6 % (Rückgang von 63,2 %). Der GAAP-Nettoeinkommen betrug 1,6 Millionen US-Dollar mit einem verwässertem EPS von 0,06 US-Dollar, primär aufgrund eines nicht monetären Steuerbegünstigung von 1,8 Millionen US-Dollar. Das Non-GAAP-Nettoeinkommen betrug 0,5 Millionen US-Dollar mit einem verwässerten EPS von 0,02 US-Dollar.
- Q4 revenue increased 7.3% YoY to $3.7 million
- Services revenue grew 19.9% YoY to $5.1 million
- Q4 gross margin improved to 63.9% from 62.4% YoY
- Cash flow from operations improved to $510K from $62K YoY
- Full-year revenue decreased 0.5% to $13.6 million
- Cloud services revenue declined 7.3% to $7.1 million
- Full-year gross margin decreased to 61.6% from 63.2%
- Legacy products revenue dropped 20.9% YoY
4th Quarter Revenues Hit a 12 Year High
NEWARK, CA / ACCESSWIRE / December 12, 2024 / Altigen Technologies (OTCQB:ATGN), a leading Silicon Valley-based Microsoft Cloud Communications Solutions provider, announced today its financial results for the fourth quarter and year ended September 30, 2024.
"This quarter demonstrates the effectiveness of Altigen's transformation initiatives," said Jeremiah Fleming, Altigen President & CEO. "We've streamlined operations, achieved consistent performance improvements, and are making tangible progress in bringing our AI solutions to market, paving the way for sustainable growth."
Full Year Highlights (Fiscal 2024 versus Fiscal 2023)
Net revenue was
$13.6 million , compared with$13.7 million ;Services revenue was
$5.1 million , compared with$4.3 million ;Cloud services revenue was
$7.1 million , compared with$7.6 million ;Gross margin decreased to
61.6% , compared with63.2% in the previous year;GAAP net income totaled
$1.6 million , with diluted EPS of$0.06 , primarily due to a$1.8 million non-cash tax-related benefit resulting from the release of the valuation allowance for deferred tax assets;Non-GAAP1 net income and non-GAAP diluted EPS of
$0.5 million and$0.02 , respectively.
Fourth Quarter Highlights (Fiscal 2024 versus Fiscal 2023)
Net Revenue was
$3.7 million , compared with$3.5 million ;Services revenue was
$1.7 million , compared with$1.1 million ;Cloud services revenue was
$1.7 million , compared with$2.0 million ;Gross margin increased to
63.9% , compared with62.4% in the prior year;GAAP net income was
$2.1 million , with diluted EPS of$0.08 , driven primarily by the previously mentioned non-cash, tax-related benefit of$1.8 million ;Non-GAAP1 net income and non-GAAP diluted EPS of
$0.5 million and$0.02 , respectively.
Select Financial Metrics: Fiscal 2024 versus Fiscal 2023 | |||||||||||||||||||||
(in thousands, except for EPS and percentages) | Fiscal |
|
| Fiscal |
| Change |
|
| YTD |
|
| YTD |
| Change |
| ||||||
Total Revenue | $ | 3,736 |
|
| $ | 3,482 |
|
| 7.3 | % |
| $ | 13,619 |
|
| $ | 13,681 |
|
| -0.5 | % |
Cloud Services |
| 1,680 |
|
|
| 1,983 |
|
| -15.3 | % |
|
| 7,097 |
|
|
| 7,656 |
|
| -7.3 | % |
Services and Other |
| 1,731 |
|
|
| 1,100 |
|
| 57.4 | % |
|
| 5,159 |
|
|
| 4,301 |
|
| 19.9 | % |
Legacy Products |
| 325 |
|
|
| 399 |
|
| -18.5 | % |
|
| 1,363 |
|
|
| 1,724 |
|
| -20.9 | % |
Software Assurance |
| 315 |
|
|
| 353 |
|
| -10.8 | % |
|
| 1,293 |
|
|
| 1,551 |
|
| -16.6 | % |
Perpetual Software License |
| 10 |
|
|
| 46 |
|
| -78.3 | % |
|
| 70 |
|
|
| 173 |
|
| -59.5 | % |
GAAP Operating Income/(Loss) | $ | 209 |
|
| $ | 30 |
|
| 596.7 | % |
| $ | (305 | ) |
| $ | (436 | ) |
| nm |
|
Operating Margin |
| 5.6 | % |
|
| 0.9 | % |
|
|
|
|
| -2.2 | % |
|
| -3.2 | % |
|
|
|
Non-GAAP Operating Income/(Loss) | $ | 228 |
|
| $ | 58 |
|
| 293.1 | % |
| $ | (245 | ) |
| $ | (317 | ) |
| nm |
|
Non-GAAP Operating Margin |
| 6.1 | % |
|
| 1.7 | % |
|
|
|
|
| -1.8 | % |
|
| -2.3 | % |
|
|
|
GAAP Net Income/(Loss) | $ | 2,079 |
|
| $ | (2,813 | ) |
| nm |
|
| $ | 1,560 |
|
| $ | (3,323 | ) |
| nm |
|
GAAP Income/(Loss) Per Share | $ | 0.08 |
|
| $ | (0.11 | ) |
| nm |
|
| $ | 0.06 |
|
| $ | (0.14 | ) |
| nm |
|
Non-GAAP Net Income | $ | 493 |
|
| $ | 145 |
|
| 240.0 | % |
| $ | 467 |
|
| $ | 324 |
|
| 44.1 | % |
Non-GAAP Diluted Earnings Per Share | $ | 0.02 |
|
| $ | 0.01 |
|
| nm |
|
| $ | 0.02 |
|
| $ | 0.01 |
|
| nm |
|
Adjusted EBITDA(1) | $ | 507 |
|
| $ | 109 |
|
| 365.1 | % |
| $ | 495 |
|
| $ | 252 |
|
| 96.4 | % |
Cash Flow from Operations | $ | 641 |
|
| $ | (236 | ) |
| nm |
|
| $ | 510 |
|
| $ | 62 |
|
| nm |
|
nm = not measurable/meaningful; *may not add up due to rounding
Throughout this release, the use of non-GAAP financial measures is intended to provide useful information that supplements Altigen's results in accordance with GAAP. Please refer to the Reconciliation of Non-GAAP Financial Measure at the end of this release.
Trended Financial Information | |||||||||||||||||||||||||||||||||||||||
(in thousands, except for EPS and percentages) | Fiscal |
|
| Fiscal |
|
| Fiscal |
|
| Fiscal |
|
| Fiscal |
|
| Fiscal |
|
| Fiscal |
|
| Fiscal |
|
| FY2023 |
|
| FY2024 |
| ||||||||||
Total Revenue | $ | 3,460 |
|
| $ | 3,373 |
|
| $ | 3,366 |
|
| $ | 3,482 |
|
| $ | 3,240 |
|
| $ | 3,360 |
|
| $ | 3,283 |
|
| $ | 3,736 |
|
| $ | 13,681 |
|
| $ | 13,619 |
|
Cloud Services |
| 1,822 |
|
|
| 1,894 |
|
|
| 1,957 |
|
|
| 1,983 |
|
|
| 1,890 |
|
|
| 1,817 |
|
|
| 1,710 |
|
|
| 1,680 |
|
|
| 7,656 |
|
|
| 7,097 |
|
Services and Other |
| 1,174 |
|
|
| 1,028 |
|
|
| 999 |
|
|
| 1,100 |
|
|
| 996 |
|
|
| 1,183 |
|
|
| 1,249 |
|
|
| 1,731 |
|
|
| 4,301 |
|
|
| 5,159 |
|
Legacy Products |
| 464 |
|
|
| 451 |
|
|
| 410 |
|
|
| 399 |
|
|
| 354 |
|
|
| 360 |
|
|
| 324 |
|
|
| 325 |
|
|
| 1,724 |
|
|
| 1,363 |
|
Software Assurance |
| 424 |
|
|
| 390 |
|
|
| 384 |
|
|
| 353 |
|
|
| 342 |
|
|
| 340 |
|
|
| 296 |
|
|
| 315 |
|
|
| 1,551 |
|
|
| 1,293 |
|
Perpetual Software License |
| 40 |
|
|
| 61 |
|
|
| 26 |
|
|
| 46 |
|
|
| 12 |
|
|
| 20 |
|
|
| 28 |
|
|
| 10 |
|
|
| 173 |
|
|
| 70 |
|
GAAP Operating Income/(Loss) | $ | (188 | ) |
| $ | (131 | ) |
| $ | (147 | ) |
| $ | 30 |
|
| $ | (342 | ) |
| $ | (240 | ) |
| $ | 68 |
|
| $ | 209 |
|
| $ | (436 | ) |
| $ | (305 | ) |
Operating Margin |
| -5.4 | % |
|
| -3.9 | % |
|
| -4.4 | % |
|
| 0.9 | % |
|
| -10.6 | % |
|
| -7.1 | % |
|
| 2.1 | % |
|
| 5.6 | % |
|
| -3.2 | % |
|
| -2.2 | % |
Non-GAAP Operating Income/(Loss) | $ | (156 | ) |
| $ | (101 | ) |
| $ | (118 | ) |
| $ | 58 |
|
| $ | (330 | ) |
| $ | (225 | ) |
| $ | 82 |
|
| $ | 228 |
|
| $ | (317 | ) |
| $ | (245 | ) |
Non-GAAP Operating Margin |
| -4.5 | % |
|
| -3.0 | % |
|
| -3.5 | % |
|
| 1.7 | % |
|
| -10.2 | % |
|
| -6.7 | % |
|
| 2.5 | % |
|
| 6.1 | % |
|
| -2.3 | % |
|
| -1.8 | % |
GAAP Net Income/(Loss) | $ | (188 | ) |
| $ | (140 | ) |
| $ | (183 | ) |
| $ | (2,813 | ) |
| $ | (345 | ) |
| $ | (236 | ) |
| $ | 62 |
|
| $ | 2,079 |
|
| $ | (3,324 | ) |
| $ | 1,560 |
|
Non-GAAP Net Income/(Loss) | $ | 44 |
|
| $ | 95 |
|
| $ | 40 |
|
| $ | 145 |
|
| $ | (156 | ) |
| $ | (72 | ) |
| $ | 202 |
|
| $ | 493 |
|
| $ | 324 |
|
| $ | 467 |
|
Non-GAAP Diluted Earnings/ Loss Per Share | $ | 0.00 |
|
| $ | 0.00 |
|
| $ | 0.00 |
|
| $ | 0.01 |
|
| $ | (0.01 | ) |
| $ | (0.00 | ) |
| $ | 0.01 |
|
| $ | 0.02 |
|
| $ | 0.01 |
|
| $ | 0.02 |
|
Adjusted EBITDA(1) | $ | 44 |
|
| $ | 95 |
|
| $ | 4 |
|
| $ | 109 |
|
| $ | (159 | ) |
| $ | (67 | ) |
| $ | 214 |
|
| $ | 507 |
|
| $ | 252 |
|
| $ | 495 |
|
Throughout this release, the use of non-GAAP financial measures is intended to provide useful information that supplements Altigen's results in accordance with GAAP. Please refer to the Reconciliation of Non-GAAP Financial Measure at the end of this release.
Conference Call
Altigen will be discussing its financial results and outlook on a conference call today at 2:00 p.m. Pacific Time (5:00 p.m. ET). The conference call can be accessed by dialing (888) 506-0062 (domestic) or (973) 528-0011 (international), conference ID #182309. A live webcast will also be made available at www.altigen.com. To access the replay, dial (877) 481-4010 (domestic) or (919) 882-2331 (international), conference ID #51729. A web archive will be made available at www.altigen.com for 90 days following the call's conclusion.
About Altigen Technologies
Altigen Technologies (OTCQB: ATGN) is focused on driving digital transformation in today's modern workplace. Our Cloud Communications solutions and Technology Consulting services empower companies of all sizes to elevate customer engagement, increase employee productivity and improve operational efficiency. We're headquartered in Silicon Valley with operations strategically located in five countries spanning three continents. For more information, call 1-888-ALTIGEN or visit our website at www.altigen.com.
Safe Harbor Statement
This press release contains forward‐looking information. The statements are based on reasonable assumptions, beliefs and expectations of management and the Company provides no assurance that actual events will meet management's expectations. Furthermore, the forward-looking statements contained in this press release are based on the Company's views of future events and financial performances which are subject to known and unknown risks and uncertainties including, but not limited to, statements regarding the Company's operational improvements, performance enhancements, AI solution development, and expectations for sustainable growth. There can be no assurances that the Company will achieve the expected results, and actual results may be materially different than expectations and from those stated or implied in forward-looking statements.
Please refer to the Company's most recent Annual Report filed with the OTCQB over-the-counter market for a further discussion of risks and uncertainties. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company does not undertake any obligation to update any forward-looking statements.
Contact:
Carolyn David
Vice President of Finance
Altigen Communications, Inc.
(408) 597-9033
www.altigen.com
ALTIGEN COMMUNICATIONS, INC. |
| ||||||||
| |||||||||
| |||||||||
|
|
|
|
|
|
| |||
| September 30, 2024 |
|
| September 30, 2023 |
|
| |||
ASSETS |
|
|
|
|
|
|
| ||
Current assets: |
|
|
|
|
|
|
| ||
Cash and cash equivalents |
| $ | 2,575 |
|
| $ | 2,641 |
|
|
Accounts receivable, net |
|
| 1,770 |
|
|
| 1,495 |
|
|
Other current assets |
|
| 185 |
|
|
| 236 |
|
|
Total current assets |
|
| 4,530 |
|
|
| 4,372 |
|
|
|
|
|
|
|
|
|
|
| |
Property and equipment, net |
|
| - |
|
|
| 3 |
|
|
Operating lease right-of-use assets |
|
| 149 |
|
|
| 301 |
|
|
Goodwill |
|
| 2,725 |
|
|
| 2,725 |
|
|
Intangible assets, net |
|
| 1,242 |
|
|
| 1,568 |
|
|
Capitalized software development cost, net |
|
| 1,363 |
|
|
| 1,215 |
|
|
Deferred tax asset |
|
| 5,638 |
|
|
| 3,737 |
|
|
Other long-term assets |
|
| 2 |
|
|
| - |
|
|
Total assets |
| $ | 15,649 |
|
| $ | 13,921 |
|
|
|
|
|
|
|
|
|
|
| |
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Accounts payable |
| $ | 98 |
|
| $ | 58 |
|
|
Accrued compensation and benefits |
|
| 593 |
|
|
| 417 |
|
|
Accrued expenses |
|
| 446 |
|
|
| 455 |
|
|
Deferred consideration - current |
|
| 744 |
|
|
| 510 |
|
|
Operating lease liabilities - current |
|
| 104 |
|
|
| 324 |
|
|
Deferred revenue - current |
|
| 481 |
|
|
| 477 |
|
|
Total current liabilities |
|
| 2,466 |
|
|
| 2,241 |
|
|
Deferred consideration - long-term |
|
| - |
|
|
| 208 |
|
|
Operating lease liabilities - long-term |
|
| 49 |
|
|
| - |
|
|
Deferred revenue - long-term |
|
| 176 |
|
|
| 134 |
|
|
Total liabilities |
|
| 2,691 |
|
|
| 2,583 |
|
|
|
|
|
|
|
|
|
|
| |
Stockholders' equity: |
|
|
|
|
|
|
|
|
|
Common stock |
|
| 24 |
|
|
| 24 |
|
|
Treasury stock |
|
| (1,565 | ) |
|
| (1,565 | ) |
|
Additional paid-in capital |
|
| 73,193 |
|
|
| 73,133 |
|
|
Accumulated deficit |
|
| (58,694 | ) |
|
| (60,254 | ) |
|
Total stockholders' equity |
|
| 12,958 |
|
|
| 11,338 |
|
|
Total liabilities and stockholders' equity |
| $ | 15,649 |
|
| $ | 13,921 |
|
|
|
|
|
|
|
|
|
|
| |
ALTIGEN COMMUNICATIONS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands) |
| |||||||
| Twelve Months Ended September 30, |
| ||||||
| 2024 |
|
| 2023 |
| |||
Cash flows from operating activities: |
|
|
|
|
|
| ||
Net income (loss) |
| $ | 1,560 |
|
| $ | (3,324 | ) |
|
|
|
|
|
|
|
| |
Adjustments to reconcile net income to net cash from operating activities: |
|
|
|
|
|
|
|
|
Impairment of capitalized software |
|
| 53 |
|
|
| - |
|
Impairment of intangible assets |
|
| 142 |
|
|
| 131 |
|
Depreciation and amortization |
|
| 3 |
|
|
| 4 |
|
Deferred income tax expense |
|
| (1,901 | ) |
|
| 2,756 |
|
Change in operating lease liabilities |
|
| (19 | ) |
|
| - |
|
Amortization of intangible assets |
|
| 184 |
|
|
| 183 |
|
Amortization of capitalized software |
|
| 375 |
|
|
| 587 |
|
Stock-based compensation |
|
| 60 |
|
|
| 119 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Accounts receivable and unbilled accounts receivable |
|
| (275 | ) |
|
| (275 | ) |
Prepaid expenses and other current assets |
|
| 51 |
|
|
| (30 | ) |
Other long-term assets |
|
| (2 | ) |
|
| 37 |
|
Accounts payable |
|
| 40 |
|
|
| 5 |
|
Accrued expenses |
|
| 193 |
|
|
| 30 |
|
Deferred revenue |
|
| 46 |
|
|
| (161 | ) |
Net cash provided by operating activities |
|
| 510 |
|
|
| 62 |
|
|
|
|
|
|
|
|
| |
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
Capitalized software development costs |
|
| (576 | ) |
|
| (471 | ) |
Net cash used in investing activities |
|
| (576 | ) |
|
| (471 | ) |
|
|
|
|
|
|
|
| |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
Payment related to business acquisition |
|
| - |
|
|
| (225 | ) |
Proceeds from issuances of common stock |
|
| - |
|
|
| 43 |
|
Net cash used in financing activities |
|
| - |
|
|
| (182 | ) |
Net decrease in cash and cash equivalents |
|
| (66 | ) |
|
| (591 | ) |
Cash and cash equivalents, beginning of year |
|
| 2,641 |
|
|
| 3,232 |
|
Cash and cash equivalents, end of year |
| $ | 2,575 |
|
| $ | 2,641 |
|
|
|
|
|
|
|
|
| |
ALTIGEN COMMUNICATIONS, INC. |
| ||||||||||||||||
| |||||||||||||||||
| |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Three Months Ended |
|
| Twelve Months Ended |
|
| |||||||||||
| September 30, |
|
| September 30, |
|
| |||||||||||
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
|
| |||||
Net revenue |
| $ | 3,736 |
|
| $ | 3,482 |
|
| $ | 13,619 |
|
| $ | 13,681 |
|
|
Gross profit |
|
| 2,386 |
|
|
| 2,172 |
|
|
| 8,395 |
|
|
| 8,648 |
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
| 885 |
|
|
| 1,187 |
|
|
| 4,268 |
|
|
| 5,066 |
|
|
Selling, general & administrative |
|
| 1,292 |
|
|
| 955 |
|
|
| 4,432 |
|
|
| 4,018 |
|
|
Operating income (loss) |
|
| 209 |
|
|
| 30 |
|
|
| (305 | ) |
|
| (436 | ) |
|
Interest expense |
|
| (3 | ) |
|
| (37 | ) |
|
| (26 | ) |
|
| (74 | ) |
|
Interest and other income |
|
| 16 |
|
|
| 1 |
|
|
| 52 |
|
|
| 2 |
|
|
Net income (loss) before provision for income taxes |
|
| 222 |
|
|
| (6 | ) |
|
| (279 | ) |
|
| (508 | ) |
|
Income tax benefit (expense) (1) |
|
| 1,857 |
|
|
| (2,807 | ) |
|
| 1,839 |
|
|
| (2,816 | ) |
|
Net income (loss) |
| $ | 2,079 |
|
| $ | (2,813 | ) |
| $ | 1,560 |
|
| $ | (3,324 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Per share data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
| $ | 0.08 |
|
| $ | (0.11 | ) |
| $ | 0.06 |
|
| $ | (0.14 | ) |
|
Diluted |
| $ | 0.08 |
|
| $ | (0.11 | ) |
| $ | 0.06 |
|
| $ | (0.14 | ) |
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
| 24,919 |
|
|
| 24,917 |
|
|
| 24,919 |
|
|
| 24,550 |
|
|
Diluted |
|
| 25,903 |
|
|
| 24,917 |
|
|
| 25,959 |
|
|
| 24,550 |
|
|
(1) The Company's fourth quarter fiscal year 2024 results include a non-cash tax benefit of
ALTIGEN COMMUNICATIONS, INC. |
| |||||||||
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| Three Months Ended |
| Twelve Months Ended |
| ||||
|
|
| September 30, |
| September 30, |
| ||||
|
|
| 2024 |
| 2023 |
| 2024 |
| 2023 |
|
Reconciliation of GAAP to Non-GAAP Gross Profit: |
|
|
|
|
|
|
| |||
GAAP gross profit |
| $ | 2,386 | $ | 2,172 | $ | 8,395 | $ | 8,648 |
|
Amortization of capitalized software |
|
| 56 |
| 124 |
| 335 |
| 531 |
|
Amortization of acquired customer relationships |
|
| 40 |
| 40 |
| 160 |
| 160 |
|
Non-GAAP gross profit |
| $ | 2,482 | $ | 2,336 | $ | 8,890 | $ | 9,339 |
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of GAAP to Non-GAAP Expenses: |
|
|
|
|
|
|
|
| ||
GAAP operating expenses |
| $ | 2,177 | $ | 2,142 | $ | 8,700 | $ | 9,084 |
|
Asset impairment |
|
| 142 |
| - |
| 142 |
| - |
|
Depreciation and amortization |
|
| - |
| 1 |
| 3 |
| 4 |
|
Amortization of capitalized software |
|
| 9 |
| 13 |
| 40 |
| 56 |
|
Amortization of intangible assets |
|
| 6 |
| 6 |
| 24 |
| 24 |
|
Stock-based compensation |
|
| 18 |
| 29 |
| 60 |
| 119 |
|
Non-GAAP operating expenses |
| $ | 2,002 | $ | 2,093 | $ | 8,431 | $ | 8,881 |
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of GAAP to Non-GAAP Net Income: |
|
|
|
|
|
|
| |||
GAAP net loss |
| $ | 2,079 | $ | (2,813) | $ | 1,560 | $ | (3,324) |
|
Asset impairment |
|
| 142 |
| - |
| 142 |
| - |
|
Depreciation and amortization |
|
| - |
| 1 |
| 3 |
| 4 |
|
Amortization of capitalized software |
|
| 65 |
| 137 |
| 375 |
| 587 |
|
Amortization of intangible assets |
|
| 46 |
| 46 |
| 184 |
| 184 |
|
Stock-based compensation |
| 18 |
| 29 |
| 60 |
| 119 |
| |
Deferred tax asset valuation allowance |
| (1,857) |
| 2,745 |
| (1,857) |
| 2,754 |
| |
Non-GAAP net income |
| $ | 493 | $ | 145 | $ | 467 | $ | 324 |
|
|
|
|
|
|
|
|
|
|
|
|
Per share data: |
|
|
|
|
|
|
|
|
|
|
Basic |
| $ | 0.02 | $ | 0.01 | $ | 0.02 | $ | 0.01 |
|
Diluted |
| $ | 0.02 | $ | 0.01 | $ | 0.02 | $ | 0.01 |
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
Basic |
|
| 24,919 |
| 24,917 |
| 24,919 |
| 24,550 |
|
Diluted |
|
| 25,903 |
| 26,122 |
| 25,959 |
| 25,663 |
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Financial Measures
In calculating non-GAAP financial measures, we exclude certain items to facilitate a review of the comparability of our core operating performance on a period-to-period basis. These non-GAAP financial measures exclude stock-based compensation expense, amortization of acquired intangible assets, depreciation and amortization expenses, acquisition-related costs, change in deferred tax asset valuation allowance, litigation costs and other non-recurring or unusual charges or benefits that may arise from time to time that we do not consider to be directly related to core operating performance. We use non-GAAP measures to evaluate the core operating performance of our business and to perform financial planning. Since we find these measures to be useful, we believe that investors benefit from seeing results reviewed by management in addition to seeing GAAP results. We believe that these non-GAAP measures, when read in conjunction with our GAAP financials, provide useful information to investors by facilitating: (i) the comparability of our on-going operating results over the periods presented and (ii) the ability to identify trends in our underlying business.
SOURCE: Altigen Technologies
View the original press release on accesswire.com
FAQ
What was ATGN's Q4 2024 revenue growth compared to Q4 2023?
How much was ATGN's cloud services revenue in fiscal 2024?
What was ATGN's GAAP net income for fiscal year 2024?
How did ATGN's services revenue perform in fiscal 2024?
What was ATGN's gross margin in Q4 2024?
