Atlantic International Corp. Reports Strong 2024 Results with Over $442 Million in Revenue; Over 10% Revenue Growth
Atlantic International Corp. (NASDAQ: ATLN) reported strong financial results for Q4 and full year 2024. The company achieved $442.6 million in full-year revenue, up 10.3% from 2023, with Q4 revenue reaching $129.5 million, an 11.5% increase year-over-year.
Key financial metrics include Q4 gross profit of $13.3 million (10.3% margin) and full-year gross profit of $47.2 million (10.7% margin). Adjusted EBITDA for Q4 and full year were $1.9 million and $4.7 million respectively.
Strategic developments include expansion of workforce solutions across Texas and Southeast, launch of Site Selection Dashboard, and termination of Staffing 360 merger. The company targets ambitious revenue growth to $1-1.5 billion within 12-18 months through organic growth and M&A initiatives, while focusing on margin improvement and cost-cutting measures for 2025.
Atlantic International Corp. (NASDAQ: ATLN) ha riportato risultati finanziari solidi per il quarto trimestre e l'intero anno 2024. L'azienda ha raggiunto 442,6 milioni di dollari di fatturato annuale, con un aumento del 10,3% rispetto al 2023, mentre il fatturato del quarto trimestre ha toccato 129,5 milioni di dollari, con un incremento dell'11,5% rispetto all'anno precedente.
I principali indicatori finanziari includono un utile lordo del quarto trimestre di 13,3 milioni di dollari (margine del 10,3%) e un utile lordo annuale di 47,2 milioni di dollari (margine del 10,7%). L'EBITDA rettificato per il quarto trimestre e per l'intero anno è stato rispettivamente di 1,9 milioni di dollari e 4,7 milioni di dollari.
Le sviluppi strategici includono l'espansione delle soluzioni per la forza lavoro in Texas e nel Sud-Est, il lancio del Dashboard per la Selezione dei Siti e la cessazione della fusione con Staffing 360. L'azienda punta a una crescita ambiziosa del fatturato fino a 1-1,5 miliardi di dollari entro 12-18 mesi attraverso una crescita organica e iniziative di M&A, concentrandosi al contempo sul miglioramento dei margini e su misure di riduzione dei costi per il 2025.
Atlantic International Corp. (NASDAQ: ATLN) reportó resultados financieros sólidos para el cuarto trimestre y el año completo 2024. La compañía logró 442.6 millones de dólares en ingresos anuales, un aumento del 10.3% en comparación con 2023, y los ingresos del cuarto trimestre alcanzaron 129.5 millones de dólares, un incremento del 11.5% interanual.
Los principales indicadores financieros incluyen una ganancia bruta del cuarto trimestre de 13.3 millones de dólares (margen del 10.3%) y una ganancia bruta anual de 47.2 millones de dólares (margen del 10.7%). El EBITDA ajustado para el cuarto trimestre y el año completo fue de 1.9 millones y 4.7 millones de dólares, respectivamente.
Los desarrollos estratégicos incluyen la expansión de soluciones de fuerza laboral en Texas y el Sureste, el lanzamiento del Dashboard de Selección de Sitios y la terminación de la fusión con Staffing 360. La compañía tiene como objetivo un crecimiento ambicioso de ingresos de hasta 1-1.5 mil millones de dólares en 12-18 meses a través de crecimiento orgánico e iniciativas de M&A, mientras se enfoca en la mejora de márgenes y medidas de reducción de costos para 2025.
Atlantic International Corp. (NASDAQ: ATLN)는 2024년 4분기 및 연간 강력한 재무 결과를 보고했습니다. 이 회사는 연간 4억 4,260만 달러의 수익을 달성했으며, 이는 2023년 대비 10.3% 증가한 수치입니다. 4분기 수익은 1억 2,950만 달러에 달하며, 전년 대비 11.5% 증가했습니다.
주요 재무 지표로는 4분기 총 이익이 1,330만 달러(10.3% 마진)이고, 연간 총 이익은 4,720만 달러(10.7% 마진)입니다. 4분기와 연간 조정 EBITDA는 각각 190만 달러와 470만 달러였습니다.
전략적 개발에는 텍사스 및 남동부 지역의 인력 솔루션 확장, 사이트 선택 대시보드 출시, Staffing 360 합병 종료가 포함됩니다. 이 회사는 12-18개월 내에 유기적 성장 및 M&A 이니셔티브를 통해 10억-15억 달러의 야심찬 수익 성장을 목표로 하며, 2025년을 위해 마진 개선 및 비용 절감 조치에 집중하고 있습니다.
Atlantic International Corp. (NASDAQ: ATLN) a annoncé des résultats financiers solides pour le quatrième trimestre et l'année complète 2024. L'entreprise a réalisé un chiffre d'affaires annuel de 442,6 millions de dollars, en hausse de 10,3 % par rapport à 2023, avec un chiffre d'affaires du quatrième trimestre atteignant 129,5 millions de dollars, soit une augmentation de 11,5 % par rapport à l'année précédente.
Les principaux indicateurs financiers incluent un bénéfice brut de 13,3 millions de dollars pour le quatrième trimestre (marge de 10,3 %) et un bénéfice brut annuel de 47,2 millions de dollars (marge de 10,7 %). L'EBITDA ajusté pour le quatrième trimestre et l'année complète s'élevait respectivement à 1,9 million de dollars et 4,7 millions de dollars.
Les développements stratégiques comprennent l'expansion des solutions de main-d'œuvre au Texas et dans le Sud-Est, le lancement du tableau de bord de sélection de sites et la résiliation de la fusion avec Staffing 360. L'entreprise vise une croissance ambitieuse de son chiffre d'affaires allant jusqu'à 1-1,5 milliard de dollars dans les 12 à 18 mois, grâce à une croissance organique et à des initiatives de fusions et acquisitions, tout en se concentrant sur l'amélioration des marges et des mesures de réduction des coûts pour 2025.
Atlantic International Corp. (NASDAQ: ATLN) hat starke Finanzergebnisse für das vierte Quartal und das gesamte Jahr 2024 gemeldet. Das Unternehmen erzielte einen Jahresumsatz von 442,6 Millionen Dollar, was einem Anstieg von 10,3% gegenüber 2023 entspricht. Der Umsatz im vierten Quartal erreichte 129,5 Millionen Dollar, was einem Anstieg von 11,5% im Jahresvergleich entspricht.
Wichtige Finanzkennzahlen umfassen einen Bruttogewinn im vierten Quartal von 13,3 Millionen Dollar (10,3% Marge) und einen Bruttogewinn für das gesamte Jahr von 47,2 Millionen Dollar (10,7% Marge). Das bereinigte EBITDA betrug für das vierte Quartal und das gesamte Jahr 1,9 Millionen Dollar bzw. 4,7 Millionen Dollar.
Strategische Entwicklungen umfassen die Erweiterung von Personallösungen in Texas und im Südosten, die Einführung des Standortauswahl-Dashboards und die Beendigung der Fusion mit Staffing 360. Das Unternehmen strebt ein ehrgeiziges Umsatzwachstum von bis zu 1-1,5 Milliarden Dollar innerhalb von 12-18 Monaten durch organisches Wachstum und M&A-Initiativen an, während es gleichzeitig auf die Verbesserung der Margen und Kostensenkungsmaßnahmen für 2025 fokussiert ist.
- Revenue growth of 10.3% to $442.6M in 2024
- Strong Q4 performance with 11.5% revenue increase
- Expansion of workforce solutions in Texas and Southeast
- Launch of Site Selection Dashboard for higher-margin revenue
- Active debt restructuring to improve liquidity
- Gross profit margin declined from 11.7% to 10.7% in 2024
- Failed merger with Staffing 360 Solutions
- Low Adjusted EBITDA of $4.7M on $442.6M revenue
- Ongoing debt concerns requiring refinancing efforts
Insights
Atlantic International's 2024 financial results showcase impressive top-line growth with full-year revenue reaching
While revenue growth is robust, profit margins show some compression. Gross profit margin declined to
The company's debt refinancing efforts signal a focus on improving capital structure, which is essential given their ambitious growth targets of
The termination of the Staffing 360 acquisition due to IRS settlement complications demonstrates disciplined M&A approach rather than pursuing growth at any cost. Management's announced focus on margin improvement and cost-cutting initiatives for 2025 addresses the key concern of profitability, which will be critical to watch as they pursue their aggressive growth strategy.
Company Completes First Quarter Publicly-Traded on Nasdaq Global Market under “ATLN”
Announces Strategic Developments and Outlook; Targets
ENGLEWOOD CLIFFS, N.J., March 28, 2025 (GLOBE NEWSWIRE) -- Atlantic International Corp. (“Atlantic” or the “Company”) (NASDAQ: ATLN), a leading provider of strategic staffing, outsourced services and workforce solutions, today announced its financial results for the fourth quarter and full year ended December 31, 2024.
Key Financial Highlights:
- Q4 2024 Revenue: Revenue for the fourth quarter was
$129.5 million , representing an11.5% increase from$116.2 million in Q4 2023. - Q4 2024 Gross Profit: Gross profit for the quarter was
$13.3 million , or10.3% of revenue, compared to$12.6 million , or10.84% of revenue, in Q4 2023. - Q4 2024 Adjusted EBITDA: Adjusted EBITDA for Q4 was
$1.9 million , reflecting ongoing cost efficiencies and revenue growth. - Full-Year Revenue: Atlantic reported full-year revenue of
$442.6 million , reflecting an increase of10.3% compared to$401.4 million in 2023. Growth was driven by expansion in key industry verticals, new customer acquisitions, and increased demand for workforce solutions. - Full-Year Gross Profit: Gross profit for the year was
$47.2 million , or10.7% of revenue, compared to$46.9 million , or11.7% of revenue, in the prior year. - Full-Year Adjusted EBITDA: Excluding one-time charges, Adjusted EBITDA was
$4.7 million , reflecting operational improvements and cost efficiencies.
Operational and Strategic Highlights:
- Expansion of Workforce Solutions: The Company continued to expand its on-premise managed services, with new locations opening across Texas and the Southeast, serving major logistics and manufacturing clients.
- Technology Investments: Launched the Site Selection Dashboard, enabling customers to optimize hiring decisions through data-driven insights, which is expected to contribute to higher-margin revenue streams in 2025.
- Termination of Staffing 360 Acquisition: Atlantic formally terminated the planned merger with Staffing 360 Solutions Inc. due primarily to unresolved financial contingencies related to IRS settlement agreements. The Company remains focused on other strategic M&A opportunities aligned with its long-term growth strategy.
- Debt Refinancing Efforts: The Company is actively working on restructuring existing credit facilities to improve liquidity and financial flexibility, with a focus on reducing overall leverage.
Management Commentary:
“Our 2024 performance demonstrates the resilience and scalability of our business model,” said Jeffrey Jagid, Chief Executive Officer of Atlantic International Corp. “We have a strong M&A pipeline which is expected to drive toward our stated goal of exceeding
Non-GAAP Financial Measures
(Unaudited)
In addition to our financial results presented in accordance with GAAP, Atlantic may use certain non-GAAP financial measures, which we believe provide useful information to investors in evaluating our core operating performance. The following non-GAAP financial measure presented may not provide information that is directly comparable to that provided by other companies, as other companies may calculate such financial results differently. We view this non-GAAP financial measure as supplemental, which is not intended to be a substitute for, or superior to, the information provided by GAAP financial results.
“Adjusted EBITDA”, a non-GAAP financial measure, is defined by Atlantic as net income (loss) before depreciation and amortization; stock-based compensation expense; interest expense, net; income tax (benefit) expense; organizational realignment activities; legal settlement expense and loss on extinguishment, change in fair value. Adjusted EBITDA should not be considered a measure of financial performance under GAAP. Items excluded from Adjusted EBITDA are significant components in understanding and assessing our past and future financial performance, and this presentation should not be construed as an inference by us that our future results will be unaffected by those items excluded from Adjusted EBITDA. Adjusted EBITDA is a key measure used by management to assess our operations including our ability to generate cash flows and our ability to repay our debt obligations and management believes it provides a good metric of our core profitability in comparing our performance to our competitors, as well as our performance over different time periods. Consequently, management believes it is useful information to investors. The measure should not be considered in isolation or as an alternative to net income, cash flows or other financial statement information presented in the consolidated financial statements as indicators of financial performance or liquidity. Also, Adjusted EBITDA, as presented, may not be comparable to similarly titled measures of other companies.
In addition, although we excluded stock-based compensation expense because it is a non-cash expense, we expect to continue to incur stock-based compensation expense in the future and the associated stock issued may result in an increase in our outstanding shares of stock, which may result in the dilution of our shareholder ownership interest. We suggest that you evaluate these items and the potential risks of excluding such items when analyzing our financial position.
About Atlantic International Corp.:
Atlantic International Corp. (“Atlantic”) is a leading strategic staffing, outsourced services, and workforce solutions company executing a high-growth strategy. Through its principal operating subsidiary, Lyneer Investments LLC (“Lyneer”), Atlantic’s approximately 300 employees generated over
For more information about Atlantic International Corp., please visit www.atlantic-international.com.
Forward-Looking Statements & Safe Harbor Statement
With the exception of the historical information contained in this press release, the matters described herein, may contain “forward-looking statements” relating to the business of Atlantic, and its subsidiary company Lyneer. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Investor Relations
Investors@atlantic-international.com
FAQ
What was Atlantic International's (ATLN) revenue growth in 2024?
Why did ATLN terminate the merger with Staffing 360 Solutions?
What is ATLN's revenue target for the next 12-18 months?
How did ATLN's Q4 2024 performance compare to Q4 2023?
What strategic initiatives is ATLN implementing for growth?
