BeWhere Holdings Inc. Reports Third Quarter 2024
BeWhere Holdings reported record-breaking financial results for Q3 2024, with total revenue reaching $5,030,356, marking a 64% increase year-over-year. The company's recurring revenue grew by 33% to $1,717,274, while operating income rose 57% to $532,660. Working capital stood at $7,252,145, with cash balance of $4,810,367. Adjusted EBITDA improved by 35% to $665,450. The company successfully shipped a record number of devices and expects continued growth following the launch of its next-generation devices.
BeWhere Holdings ha riportato risultati finanziari straordinari per il terzo trimestre del 2024, con un fatturato totale che ha raggiunto i $5.030.356, segnando un aumento del 64% rispetto all'anno precedente. I ricavi ricorrenti dell'azienda sono aumentati del 33% a $1.717.274, mentre il reddito operativo è cresciuto del 57% a $532.660. Il capitale circolante si attesta a $7.252.145, con un saldo di cassa di $4.810.367. L'EBITDA rettificato è migliorato del 35% a $665.450. L'azienda ha spedito un numero record di dispositivi e si aspetta una continua crescita a seguito del lancio dei suoi dispositivi di nuova generazione.
BeWhere Holdings reportó resultados financieros récord para el tercer trimestre de 2024, con ingresos totales alcanzando $5.030.356, marcando un aumento del 64% en comparación con el año anterior. Los ingresos recurrentes de la compañía crecieron un 33% hasta $1.717.274, mientras que el ingreso operativo aumentó un 57% a $532.660. El capital de trabajo se situó en $7.252.145, con un saldo de efectivo de $4.810.367. El EBITDA ajustado mejoró un 35% hasta $665.450. La empresa envió un número récord de dispositivos y espera un crecimiento continuo tras el lanzamiento de sus dispositivos de nueva generación.
BeWhere Holdings는 2024년 3분기에 기록적인 재무 성과를 보고하였으며, 총 수익이 $5,030,356에 달하여 64%의 증가를 기록하였습니다. 회사의 반복 수익은 33% 증가하여 $1,717,274에 달하였고, 운영 소득은 57% 상승하여 $532,660에 도달했습니다. 운전 자본은 $7,252,145로, 현금 잔액은 $4,810,367입니다. 조정된 EBITDA는 35% 개선되어 $665,450에 이릅니다. 회사는 기록적인 수량의 장치를 성공적으로 배송하였고, 차세대 장치 출시 이후 지속적인 성장을 기대하고 있습니다.
BeWhere Holdings a annoncé des résultats financiers records pour le troisième trimestre de 2024, avec un chiffre d'affaires total atteignant 5 030 356 $, marquant une augmentation de 64% par rapport à l'année précédente. Les revenus récurrents de l'entreprise ont crû de 33% pour atteindre 1 717 274 $, tandis que le revenu opérationnel a augmenté de 57% pour atteindre 532 660 $. Le fonds de roulement s'élevait à 7 252 145 $, avec un solde de trésorerie de 4 810 367 $. L'EBITDA ajusté s'est amélioré de 35% pour atteindre 665 450 $. L'entreprise a expédié un nombre record d'appareils et s'attend à une croissance continue après le lancement de ses appareils de nouvelle génération.
BeWhere Holdings hat für das dritte Quartal 2024 rekordverdächtige Finanzresultate veröffentlicht, mit einem Gesamtumsatz von $5.030.356, was einen 64%-igen Anstieg im Vergleich zum Vorjahr bedeutet. Der wiederkehrende Umsatz des Unternehmens stieg um 33% auf $1.717.274, während der Betriebsgewinn um 57% auf $532.660 zulegte. Das Umlaufvermögen belief sich auf $7.252.145, mit einem Barguthaben von $4.810.367. Das bereinigte EBITDA verbesserte sich um 35% auf $665.450. Das Unternehmen hat eine rekordverdächtige Anzahl von Geräten versendet und erwartet ein fortgesetztes Wachstum nach dem Launch seiner Geräte der nächsten Generation.
- Record quarterly revenue of $5.03M, up 64% YoY
- Recurring revenue increased 33% to $1.72M
- Operating income grew 57% to $533K
- Strong working capital position of $7.25M
- Cash balance of $4.81M
- Adjusted EBITDA improved 35% to $665K
- None.
Toronto, Ontario--(Newsfile Corp. - November 20, 2024) - BeWhere (TSXV: BEW) (OTCQB: BEWFF) ("BeWhere" or the "Company"), a leading Mobile Internet of Things (M-IoT) company, is pleased to announce its financial results for three and nine months ended September 30, 2024.
Owen Moore, CEO and Co-Founder stated, "The company recorded its highest ever quarterly revenue with year over year growth of
Chris Panczuk, COO and Co-Founder stated, "We are pleased that the Company successfully shipped a record number of devices on short notice demonstrating our capability to handle large orders in the future."
Third Quarter 2024 Highlights
- Total Revenue increased by
64% year over year – Total Revenue for the three months ended September 30, 2024, was$5,030,356 compared to$3,075,102 for the same period in 2023: an increase of$1,955,254.
- Recurring Revenue increased by
33% year over year – Recurring Revenue for the three months ended September 30, 2024, was$1,717,274 compared to$1,286,885 for the same period in 2023: an increase of$430,389.
- Operating income increased by
57% year over year – The Company recorded net income for the three months ended September 30, 2024, of$532,660 compared to$339,246 for the same period in 2023: an increase of$193,414.
- Working capital and Cash in hand – At September 30, 2024, the Company had working capital of
$7,252,145. T he cash balance on September 30, 2024 was$4,810,367.
- Adjusted EBITDA (non-IFRS measure) improved by
35% year over year – Adjusted EBITDA for the three months ended September 30, 2024, was$665,450 compared to$494,718 for the same period in 2023, an improvement of$170,732.
About BeWhere
BeWhere (TSXV: BEW) (OTCQB: BEWFF) specializes in low-power 5G IoT wide-area tracking technology, creating remote monitoring solutions that address cost, power, and environmental challenges. In just 6 years, the company has experienced rapid growth, collaborating with Fortune 500 companies, top resellers and installers to deploy hundreds of thousands of trackers across numerous sectors, including transportation, construction, logistics, utilities, health, and government.
BeWhere's tracking solutions are designed to be both cost-effective and simple to implement, significantly expanding the scope of assets that can be connected. These connected devices generate data that powers intelligent AI management platforms. By increasing the number of connected devices, BeWhere enhances the capabilities and growth potential of AI solutions.
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CONTACT INFORMATION
BeWhere Inc.
Margaux Berry, VP Strategy and Growth
1 (844) 229-4373 x 107
info@bewhere.com
Cautionary Statements Regarding Forward-Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
BeWhere Holdings Inc. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.
The Company's audited Interim Consolidated Financial Statements for the period ended September 2024 and 2023, together with its corresponding Management's discussion and analysis can be found under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.bewhere.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the Policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230656
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