FalconStor Software Announces Fourth Quarter and Full Year 2024 Results
FalconStor Software (OTC: FALC) reported its Q4 and full year 2024 results, highlighting a significant transformation towards recurring revenue business. The company achieved a 91% year-over-year increase in hybrid cloud ARR run-rate, with recurring sources now accounting for 80% of total revenue.
Key financial metrics for FY2024 include:
- Total revenue: $10.4M (down from $11.6M in 2023)
- EBITDA margin: 12%
- Net income margin: 7%
- Total operating expenses: $7.9M
Q4 2024 results show revenue of $2.8M (vs $3.7M in Q4 2023) and ending cash of $2.5M. The company plans to increase strategic investment in new IBM watsonx-based AI solutions in 2025, leveraging partnerships with IBM, Kyndryl/Skytap, and Converge/Google Cloud.
FalconStor Software (OTC: FALC) ha riportato i risultati del quarto trimestre e dell'intero anno 2024, evidenziando una significativa trasformazione verso un modello di business basato su entrate ricorrenti. L'azienda ha registrato un aumento del 91% anno su anno dell'ARR nel cloud ibrido, con le fonti ricorrenti che ora rappresentano l'80% del fatturato totale.
I principali indicatori finanziari per l'anno fiscale 2024 includono:
- Fatturato totale: 10,4 milioni di dollari (in calo rispetto a 11,6 milioni di dollari nel 2023)
- Margine EBITDA: 12%
- Margine di utile netto: 7%
- Spese operative totali: 7,9 milioni di dollari
I risultati del quarto trimestre 2024 mostrano un fatturato di 2,8 milioni di dollari (rispetto a 3,7 milioni di dollari nel quarto trimestre 2023) e una liquidità finale di 2,5 milioni di dollari. L'azienda prevede di aumentare gli investimenti strategici in nuove soluzioni AI basate su IBM watsonx nel 2025, sfruttando le partnership con IBM, Kyndryl/Skytap e Converge/Google Cloud.
FalconStor Software (OTC: FALC) informó sobre sus resultados del cuarto trimestre y del año completo 2024, destacando una transformación significativa hacia un modelo de negocio basado en ingresos recurrentes. La compañía logró un aumento del 91% interanual en el ARR de la nube híbrida, con fuentes recurrentes que ahora representan el 80% de los ingresos totales.
Los principales indicadores financieros para el año fiscal 2024 incluyen:
- Ingresos totales: $10.4M (a la baja desde $11.6M en 2023)
- Margen EBITDA: 12%
- Margen de ingreso neto: 7%
- Gastos operativos totales: $7.9M
Los resultados del cuarto trimestre de 2024 muestran ingresos de $2.8M (frente a $3.7M en el cuarto trimestre de 2023) y un efectivo final de $2.5M. La compañía planea aumentar la inversión estratégica en nuevas soluciones de IA basadas en IBM watsonx en 2025, aprovechando las asociaciones con IBM, Kyndryl/Skytap y Converge/Google Cloud.
FalconStor Software (OTC: FALC)는 2024년 4분기 및 연간 실적을 발표하며 반복 수익 비즈니스로의 중요한 변화를 강조했습니다. 이 회사는 하이브리드 클라우드 ARR의 연간 91% 증가를 달성했으며, 반복 수익원이 이제 총 수익의 80%를 차지하고 있습니다.
2024 회계연도의 주요 재무 지표는 다음과 같습니다:
- 총 수익: 1,040만 달러 (2023년 1,160만 달러에서 감소)
- EBITDA 마진: 12%
- 순이익 마진: 7%
- 총 운영 비용: 790만 달러
2024년 4분기 실적은 280만 달러의 수익(2023년 4분기 370만 달러 대비)과 250만 달러의 현금 잔액을 보여줍니다. 이 회사는 2025년에 IBM watsonx 기반의 새로운 AI 솔루션에 대한 전략적 투자를 늘릴 계획이며, IBM, Kyndryl/Skytap, Converge/Google Cloud와의 파트너십을 활용할 것입니다.
FalconStor Software (OTC: FALC) a publié ses résultats du quatrième trimestre et de l'année complète 2024, mettant en avant une transformation significative vers un modèle commercial basé sur des revenus récurrents. L'entreprise a enregistré une augmentation de 91 % de l'ARR du cloud hybride d'une année sur l'autre, les sources récurrentes représentant désormais 80 % des revenus totaux.
Les principaux indicateurs financiers pour l'exercice 2024 incluent :
- Revenu total : 10,4 millions de dollars (en baisse par rapport à 11,6 millions de dollars en 2023)
- Marge EBITDA : 12 %
- Marge de bénéfice net : 7 %
- Dépenses d'exploitation totales : 7,9 millions de dollars
Les résultats du quatrième trimestre 2024 montrent un revenu de 2,8 millions de dollars (contre 3,7 millions de dollars au quatrième trimestre 2023) et une trésorerie finale de 2,5 millions de dollars. L'entreprise prévoit d'augmenter ses investissements stratégiques dans de nouvelles solutions d'IA basées sur IBM watsonx en 2025, en tirant parti de partenariats avec IBM, Kyndryl/Skytap et Converge/Google Cloud.
FalconStor Software (OTC: FALC) hat seine Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 bekannt gegeben und dabei eine bedeutende Transformation hin zu einem wiederkehrenden Geschäftsmodell hervorgehoben. Das Unternehmen verzeichnete einen Jahresanstieg von 91% im hybriden Cloud-ARR, wobei wiederkehrende Einnahmequellen nun 80% des Gesamtumsatzes ausmachen.
Die wichtigsten finanziellen Kennzahlen für das Geschäftsjahr 2024 umfassen:
- Gesamtumsatz: 10,4 Millionen USD (rückläufig von 11,6 Millionen USD im Jahr 2023)
- EBITDA-Marge: 12%
- Nettoergebnismarge: 7%
- Gesamte Betriebskosten: 7,9 Millionen USD
Die Ergebnisse des vierten Quartals 2024 zeigen einen Umsatz von 2,8 Millionen USD (gegenüber 3,7 Millionen USD im vierten Quartal 2023) und einen Endbestand an Bargeld von 2,5 Millionen USD. Das Unternehmen plant, 2025 strategische Investitionen in neue auf IBM watsonx basierende KI-Lösungen zu erhöhen und dabei Partnerschaften mit IBM, Kyndryl/Skytap und Converge/Google Cloud zu nutzen.
- 91% YoY increase in hybrid cloud ARR run-rate
- 80% of revenue from recurring sources
- 12% EBITDA margin in 2024
- 7% net income margin in 2024
- Reduced operating expenses to $7.9M from $8.5M
- Total revenue declined to $10.4M from $11.6M YoY
- Q4 revenue dropped to $2.8M from $3.7M YoY
- Cash position decreased to $2.5M from $3.4M YoY
- EBITDA decreased to $1.3M from $2.0M YoY
Strong Hybrid Cloud ARR Growth and Profitability
-
91% year-over-year increase in total hybrid cloud ARR run-rate for full year 2024 -
12% EBITDA for full year 2024 -
7% net income for full year 2024
“Our 2024 results highlight FalconStor’s continued transformation into a high-growth, high-margin recurring revenue business,” said Todd Brooks, CEO of FalconStor Software. “While total revenue declined versus 2023 with our continued aggressive shift away from one-time perpetual licenses, we achieved a
As our recurring business continues to scale, our partnerships with IBM, global IBM-focused partners like Kyndryl/Skytap and Converge/Google Cloud, and regional IBM partners, remain the core drivers of our growth. In 2024, we deepened our collaboration across IBM Power, Storage, and watsonx business units strengthening our role in IBM’s hybrid cloud ecosystem. We are well positioned for 2025 and beyond to generate total revenue growth and continued levels of healthy profitability as we bring new innovations to market, helping enterprise customers modernize and optimize their data protection strategies.”
Fourth Quarter 2024 Financial Results
-
Hybrid Cloud ARR Run-Rate:
91% increase compared to fourth quarter of fiscal 2023 -
Ending Cash:
$2.5 million $3.4 million -
Total Revenue:
$2.8 million $3.7 million -
Total Cost of Revenue:
$0.5 million $0.5 million -
Total Operating Expenses:
$2.1 million $2.1 million -
Non-GAAP EBITDA:
$0.4 million $1.2 million -
GAAP Net Income:
$0.2 million $1.0 million
Full Year 2024 Financial Results
-
Total Revenue:
$10.4 million $11.6 million -
Total Cost of Revenue:
$1.7 million $1.6 million -
Total Operating Expenses:
$7.9 million $8.5 million -
Non-GAAP EBITDA:
$1.3 million $2.0 million -
GAAP Net Income:
$0.7 million $1.0 million
“We continue to exercise disciplined expense management and operational efficiency, while pursuing growth and innovation,” said Vincent Sita, FalconStor CFO.
Non-GAAP Financial Measures
The non-GAAP financial measures used in this press release are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. The Company’s management refers to these non-GAAP financial measures in making operating decisions because they provide meaningful supplemental information regarding the Company’s operating performance. In addition, these non-GAAP financial measures facilitate management’s internal comparisons to the Company’s historical operating results and comparisons to competitors’ operating results. We include these non-GAAP financial measures (which should be viewed as a supplement to, and not a substitute for, their comparable GAAP measures) in this press release because we believe they are useful to investors in allowing for greater transparency into the supplemental information used by management in its financial and operational decision-making. The non-GAAP financial measures exclude (i) depreciation, (ii) amortization, (iii) restructuring expenses, (iv) severance expenses, (v) board expenses, (vi) stock based compensation, (vii) non-operating expenses (income) including income taxes and interest & other expenses (income). For a reconciliation of our GAAP and non-GAAP financial results, please refer to our Reconciliation of Net Income (Loss) to Adjusted EBITDA presented in this release.
Please click this link for accompanying financial charts.
About FalconStor Software
FalconStor is the trusted data protection software leader modernizing disaster recovery and backup operations for the hybrid cloud world. The Company enables enterprise customers and managed service providers to secure, migrate, and protect their data while reducing data storage and long-term retention costs by up to
FalconStor and FalconStor Software are trademarks or registered trademarks of FalconStor Software, Inc., in the
Links to websites or pages controlled by parties other than FalconStor are provided for the reader's convenience and information only. FalconStor does not incorporate into this release the information found at those links nor does FalconStor represent or warrant that any information found at those links is complete or accurate. Use of information obtained by following these links is at the reader's own risk.
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CONTACT INFORMATION
For more information, contact:
Vincent Sita
Chief Financial Officer
FalconStor Software Inc.
investorrelations@falconstor.com
CONTACT US AROUND THE GLOBE
Corporate Headquarters
111 Congress Avenue
Suite 500
Tel: +1.631.777.5188
salesinfo@falconstor.com
Europe Headquarters
Landsberger Straße 302
80687 München,
salesemea@falconstor.com
Source: FalconStor Software, Inc.
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