ONAR Provides Q3 2024 Results and Business Update
ONAR Holdings (OTCQB:RELT) released its Q3 2024 results, highlighting significant growth following its reverse merger announced in Q2 2024. The company reported a 57% increase in consolidated revenue for the nine months ending September 30, 2024, compared to the same period last year. Notable achievements include a reduction in Cost of Revenues by nearly $250,000, and a cash balance increase of approximately $0.5 million compared to December 31, 2023.
The company expanded its global workforce, with 60% of employees now spread across five continents. ONAR also formed a strategic alliance with iQSTEL (OTCQX:IQST) for market presence enhancement and technology sharing. The company maintains its commitment to reaching $100 million in revenue and uplisting to NASDAQ, with plans to establish an Independent Board of Directors in Q1 2025.
ONAR Holdings (OTCQB:RELT) ha pubblicato i risultati del terzo trimestre 2024, evidenziando una crescita significativa dopo la fusione inversa annunciata nel secondo trimestre 2024. La società ha registrato un aumento del 57% nei ricavi consolidati per i nove mesi terminati il 30 settembre 2024, rispetto allo stesso periodo dell'anno scorso. Tra i risultati notevoli vi è stata una riduzione dei Costi dei Ricavi di quasi $250.000, e un incremento del saldo di cassa di circa $0,5 milioni rispetto al 31 dicembre 2023.
La società ha ampliato la sua forza lavoro globale, con il 60% dei dipendenti ora distribuiti su cinque continenti. ONAR ha anche stretto un'alleanza strategica con iQSTEL (OTCQX:IQST) per migliorare la presenza sul mercato e condividere tecnologie. L'azienda mantiene il suo impegno a raggiungere $100 milioni di ricavi e a quotarsi al NASDAQ, con piani per costituire un Consiglio di Amministrazione Indipendente nel primo trimestre del 2025.
ONAR Holdings (OTCQB:RELT) publicó sus resultados del tercer trimestre de 2024, destacando un crecimiento significativo tras su fusión inversa anunciada en el segundo trimestre de 2024. La compañía reportó un aumento del 57% en los ingresos consolidados para los nueve meses que terminaron el 30 de septiembre de 2024, en comparación con el mismo período del año anterior. Logros notables incluyen una reducción en el Costo de los Ingresos de casi $250,000, y un aumento en el saldo de efectivo de aproximadamente $0.5 millones en comparación con el 31 de diciembre de 2023.
La empresa amplió su fuerza laboral global, con el 60% de los empleados distribuidos ahora en cinco continentes. ONAR también formó una alianza estratégica con iQSTEL (OTCQX:IQST) para mejorar su presencia en el mercado y compartir tecnología. La compañía mantiene su compromiso de alcanzar $100 millones en ingresos y de cambiar su listado a NASDAQ, con planes para establecer una Junta Directiva Independiente en el primer trimestre de 2025.
ONAR Holdings (OTCQB:RELT)는 2024년 3분기 실적을 발표하며 2024년 2분기에 발표된 역합병 이후 유의미한 성장을 강조했습니다. 회사는 2024년 9월 30일로 종료된 9개월 동안 통합 수익이 57% 증가했다고 보고했습니다. 지난해 같은 기간에 비해 특히 주목할 만한 성과로는 수익원가가 거의 $250,000 감소했으며, 2023년 12월 31일과 비교하여 현금 잔고가 약 $0.5백만 증가한 점이 있습니다.
회사는 글로벌 인력을 확대했으며, 현재 60%의 직원이 5개 대륙에 분포해 있습니다. ONAR는 또한 iQSTEL (OTCQX:IQST)와 전략적 제휴를 체결하여 시장 존재감을 강화하고 기술을 공유하였습니다. 회사는 $1억의 수익 달성 및 NASDAQ 상장을 목표로 하며, 2025년 1분기에 독립 이사회 설립 계획을 가지고 있습니다.
ONAR Holdings (OTCQB:RELT) a publié ses résultats du troisième trimestre 2024, mettant en avant une croissance significative suite à sa fusion inversée annoncée au deuxième trimestre 2024. L'entreprise a rapporté une augmentation de 57 % de son chiffre d'affaires consolidé pour les neuf mois se terminant le 30 septembre 2024, par rapport à la même période de l'année dernière. Parmi les réalisations notables, on note une réduction des coûts des revenus de près de 250 000 $ et une augmentation de la trésorerie d'environ 0,5 million $ par rapport au 31 décembre 2023.
L'entreprise a élargi sa main-d'œuvre mondiale, avec 60 % des employés maintenant répartis sur cinq continents. ONAR a également formé une alliance stratégique avec iQSTEL (OTCQX:IQST) pour améliorer sa présence sur le marché et partager des technologies. L'entreprise reste engagée à atteindre 100 millions de dollars de revenus et à s'introduire au NASDAQ, avec des projets de création d'un conseil d'administration indépendant au premier trimestre 2025.
ONAR Holdings (OTCQB:RELT) hat seine Ergebnisse für das dritte Quartal 2024 veröffentlicht, die ein signifikantes Wachstum nach der im zweiten Quartal 2024 angekündigten Umkehrfusion hervorheben. Das Unternehmen berichtete von einem Umsatzanstieg von 57% für die neun Monate bis zum 30. September 2024 im Vergleich zu demselben Zeitraum des Vorjahres. Zu den bemerkenswerten Erfolgen gehört eine Reduzierung der Umsatzkosten um nahezu $250.000 und ein Anstieg des Barguthabens um ca. $0,5 Millionen im Vergleich zum 31. Dezember 2023.
Das Unternehmen hat seine globale Belegschaft erweitert, 60% der Mitarbeiter verteilen sich jetzt auf fünf Kontinente. ONAR hat auch eine strategische Allianz mit iQSTEL (OTCQX:IQST) zur Verbesserung der Marktpräsenz und zum Technologietransfer gebildet. Das Unternehmen bleibt entschlossen, $100 Millionen Umsatz zu erreichen und an die NASDAQ zu listen, mit Plänen zur Gründung eines unabhängigen Verwaltungsrats im ersten Quartal 2025.
- 57% increase in consolidated revenue for the nine months ending September 30, 2024
- Cost of Revenues decreased by $250,000 year-over-year
- Cash balance increased by $0.5 million compared to December 31, 2023
- Healthcare Marketing services achieved 44% Net Operating Income to Sales ratio
- Secured $1.8M in net financing for working capital and expansion
- Increased interest expenses due to reverse merger financing
- Reduced Net Operating Income due to new sales hires
- Additional liabilities requiring future conversion to equity
The letter to shareholders covers key highlights for the nine months that ended September 30, 2024 and gives a first look at the Company's consolidated business since the reverse merger announced in Q2 2024.
"It has been quite a journey getting to this point. ONAR is now on the trajectory we envisioned when we started the reverse merger process," said Claude Zdanow, CEO of ONAR. "We are incredibly proud of where we are today and know we have a platform set for rapid growth through the acquisitions we are targeting and our plans for organic growth."
In alignment with its commitment to becoming a
Additionally, ONAR will announce a new board charter to usher in an Independent Board of Directors in Q1 of 2025. The new board and its growing investor base demonstrates the support that exists for the company's vision and growth strategy, underscoring the shared commitment to building a premier, technology-enabled marketing powerhouse.
The shareholder letter highlights these notable achievements from Q3:
- Increased Revenues: By completing the reverse merger, the Company's consolidated revenue for the nine months ending September 30, 2024, was
57% higher than the same period last year. - Decreased Cost of Revenues: The Cost of Revenues declined by almost
$250,000 - Increase in Cash on Hand: Cash Balance Increased by almost
$.5 Million as compared to December 31, 2023. - Global Reach: Overall headcount increased globally, with
60% of the Company's workforce being international across five continents. - Partnership for Growth and Tech Expansion: A strategic alliance was signed with iQSTEL, Inc. (OTCQX:IQST) to help iQSTEL increase its market presence and share technologies to further both companies' businesses.
ONAR concludes the letter with enthusiasm and optimism for the future, stating its ambitious goals to expand its network of agencies in 2025.
The full shareholder letter is shared below.
Dear Shareholders,
We are excited to announce our Q3 FY-2024 results, a testament to ONAR's extraordinary growth and strategic innovation. This quarter has solidified our position as a leader in the marketing industry, and we are eager to share the tangible progress we have made.
1. Revenue and Profitability
- By completing the reverse merger, the Company's consolidated revenue for the nine months ending September 30, 2024, was
57% higher than the same period last year. - Recurring Revenues remained steady as Cost of Revenues declined by almost
$250,000 - Revenues are expected to increase organically in the near future due to new contracts being negotiated.
- Digital Marketing Agency Performance
- Recurring revenues remained steady, with Net Operating Income equaling ~
5% of Sales. NOI is expected to increase in the near term due to new sales hires, which contributed to the reduction in NOI.
- Recurring revenues remained steady, with Net Operating Income equaling ~
- Healthcare Marketing Agency Performance
- Net Operating Income for Healthcare Marketing services was nearly
44% of Sales.
- Net Operating Income for Healthcare Marketing services was nearly
2. Interest Expense
- Interest paid increased nominally as compared to the previous year as a result of financing activities to complete the reverse merger. This will be offset by an increase in Revenues in the near future, as well as liabilities that will be converted into Equity.
3. Assets and Liabilities
- Cash Balance increased by almost
$.5 Million as compared to December 31, 2023
4. Cash Flow and Liquidities
- Financing activities provided
$1.8M
5. Global Presence, Operational Reach, and Marketing
- Overall headcount increased globally, with
60% of the Company's workforce being international across five continents.
6. Partnership for Growth and Tech Expansion
- A strategic alliance was signed with iQSTEL, Inc. (OTCQX:IQST) to help iQSTEL increase its market presence and share technologies to further both companies' businesses.
- ONAR CEO Claude Zdanow attended NobleCon 2024 and showcased a glimpse into the Company's proprietary artificial intelligence usage and how machine learning capabilities are helping shape how the company leverages data.
Summary
We are pleased to report that our strategic initiatives are progressing according to plan, delivering strong results across key performance indicators. This positive momentum reinforces our confidence in the company's ability to achieve sustained growth.
Thank you for your support.
Sincerely,
Claude Zdanow
CEO, ONAR
About ONAR
ONAR (OTCQB: RELT) is a dynamic marketing and business solutions network, currently publicly traded as Reliant Holdings, Inc. with plans to become Onar Holding Corporation in the near future. ONAR's mission is to provide unparalleled service through an integrated, AI-driven approach, leveraging its diverse brand family's strengths. Committed to honor, candor, and best-in-class results, ONAR aims to lead the industry by example, ensuring every client relationship is deeply rooted in trust and excellence.
ONAR has nearly 50 employees across five continents, and it is aggressively expanding its team to support the company's growth and acquisition pipeline. Its agencies service over 45 clients across various industries:
- Performance Marketing & SEO: Our high-touch performance marketing agency, Storia, specializes in brand growth, data-driven excellence, and paid advertising.
- Full-Service Healthcare Marketing: Partnering with healthcare professionals, Of Kos provides the best possible patient experience and strives to revolutionize the standard of care.
- Experiential Marketing & Events: CHALK is an experiential marketing powerhouse of event architects who turn bold ideas into unforgettable reality, designing events that dare to defy the ordinary.
ONAR's network of agencies focuses on servicing companies ranging from
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on ONAR's current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy, and financial needs. These statements are not historical facts and are inherently uncertain and outside of ONAR's control. Forward-looking statements include, among other things, statements regarding ONAR's expectations regarding its ability to achieve its financial and strategic goals, including surpassing
View original content to download multimedia:https://www.prnewswire.com/news-releases/onar-provides-q3-2024-results-and-business-update-302340319.html
SOURCE ONAR
FAQ
What was ONAR's revenue growth in Q3 2024 compared to the previous year?
How much did ONAR reduce its Cost of Revenues in Q3 2024?
What is ONAR's strategic partnership with IQST about?
What is ONAR's target revenue goal and exchange listing plan?
What percentage of ONAR's workforce is international?
What was ONAR's Net Operating Income ratio for Healthcare Marketing services?
