Innovative Solutions & Support Reports Third Quarter 2024 Results
Innovative Solutions & Support (ISSC) reported strong financial results for Q3 2024:
- Net revenue increased 47.8% to $11.8 million
- Gross profit rose 32.6% to $6.3 million
- Net income reached $1.6 million ($0.09 per diluted share)
- Adjusted EBITDA grew 61% to $3.1 million
- Year-to-date free cash flow improved to $4.8 million
The company benefited from strong execution under previously acquired Honeywell product lines and reduced net leverage from 2.9x to 0.8x since the acquisition. ISSC's management expressed confidence in their growth initiatives and positioning for fiscal 2025, citing favorable demand across general aviation, commercial air transport, and military verticals.
Innovative Solutions & Support (ISSC) ha riportato risultati finanziari solidi per il terzo trimestre del 2024:
- I ricavi netti sono aumentati del 47,8% a 11,8 milioni di dollari
- Il profitto lordo è salito del 32,6% a 6,3 milioni di dollari
- Il reddito netto ha raggiunto 1,6 milioni di dollari (0,09 dollari per azione diluita)
- Il EBITDA adjusted è cresciuto del 61% a 3,1 milioni di dollari
- Il flusso di cassa libero da inizio anno è migliorato a 4,8 milioni di dollari
L'azienda ha beneficiato di una forte esecuzione delle linee di prodotto acquisite da Honeywell e ha ridotto il rapporto di indebitamento netto da 2,9x a 0,8x dall'acquisizione. Il management di ISSC ha espresso fiducia nelle loro iniziative di crescita e nella posizione per l'esercizio fiscale 2025, citando una domanda favorevole in aviazione generale, trasporto aereo commerciale e settori militari.
Innovative Solutions & Support (ISSC) reportó resultados financieros sólidos para el tercer trimestre de 2024:
- Los ingresos netos aumentaron un 47,8% a 11,8 millones de dólares
- El beneficio bruto subió un 32,6% a 6,3 millones de dólares
- El ingreso neto alcanzó los 1,6 millones de dólares (0,09 dólares por acción diluida)
- El EBITDA ajustado creció un 61% a 3,1 millones de dólares
- El flujo de caja libre acumulado hasta la fecha mejoró a 4,8 millones de dólares
La empresa se benefició de una fuerte ejecución bajo las líneas de productos adquiridos de Honeywell y redujo su apalancamiento neto de 2,9x a 0,8x desde la adquisición. La dirección de ISSC expresó confianza en sus iniciativas de crecimiento y su posicionamiento para el ejercicio fiscal 2025, citando una demanda favorable en aviación general, transporte aéreo comercial y sectores militares.
Innovative Solutions & Support (ISSC)는 2024년 3분기에 강력한 재무 결과를 보고했습니다:
- 순수익은 47.8% 증가하여 1180만 달러에 달했습니다
- 총 이익은 32.6% 증가하여 630만 달러에 도달했습니다
- 순이익은 160만 달러(1주당 0.09 달러)로 증가했습니다
- 조정된 EBITDA는 61% 증가하여 310만 달러에 이르렀습니다
- 연초부터의 무료 현금 흐름은 480만 달러로 개선되었습니다
회사는 이전에 인수한 Honeywell 제품 라인에서 강력한 실행의 혜택을 받았으며, 인수 이후 순부채 비율을 2.9배에서 0.8배로 줄였습니다. ISSC 경영진은 2025 회계연도에 대한 성장 이니셔티브와 포지셔닝에 대해 자신감을 표현하며, 일반 항공, 상업 항공 운송 및 군사 분야 전반에 걸쳐 우호적인 수요를 언급했습니다.
Innovative Solutions & Support (ISSC) a rapporté des résultats financiers solides pour le troisième trimestre 2024 :
- Les revenus nets ont augmenté de 47,8 % pour atteindre 11,8 millions de dollars
- Le bénéfice brut a fait un bond de 32,6 % à 6,3 millions de dollars
- Le revenu net a atteint 1,6 million de dollars (0,09 dollar par action diluée)
- Le EBITDA ajusté a crû de 61 % pour atteindre 3,1 millions de dollars
- Le flux de trésorerie disponible depuis le début de l'année s'est amélioré à 4,8 millions de dollars
L'entreprise a bénéficié d'une forte exécution sous les lignes de produits précédemment acquises de Honeywell et a réduit son levier net de 2,9x à 0,8x depuis l'acquisition. La direction d'ISSC a exprimé sa confiance dans ses initiatives de croissance et son positionnement pour l'exercice fiscal 2025, en soulignant une demande favorable dans l'aviation générale, le transport aérien commercial et les secteurs militaires.
Innovative Solutions & Support (ISSC) berichtete für das 3. Quartal 2024 über starke Finanzresultate:
- Der Nettoumsatz stieg um 47,8 % auf 11,8 Millionen Dollar
- Der Bruttogewinn nahm um 32,6 % auf 6,3 Millionen Dollar zu
- Der Nettogewinn erreichte 1,6 Millionen Dollar (0,09 Dollar pro verwässerter Aktie)
- Das adjustierte EBITDA wuchs um 61 % auf 3,1 Millionen Dollar
- Der freie Cashflow seit Jahresbeginn verbesserte sich auf 4,8 Millionen Dollar
Das Unternehmen profitierte von einer starken Umsetzung in den zuvor erworbenen Honeywell-Produktlinien und verringerte die Nettoverschuldung von 2,9x auf 0,8x seit der Übernahme. Das Management von ISSC äußerte Vertrauen in seine Wachstumsinitiativen und die Positionierung für das Geschäftsjahr 2025 und verwies auf eine günstige Nachfrage in der allgemeinen Luftfahrt, im kommerziellen Lufttransport und in militärischen Sektoren.
- Net revenue increased 47.8% year-over-year to $11.8 million
- Gross profit rose 32.6% to $6.3 million
- Adjusted EBITDA grew 61% to $3.1 million
- Year-to-date free cash flow improved from $0.8 million to $4.8 million
- Net leverage reduced from 2.9x to 0.8x since Honeywell product line acquisition
- Total cash and credit line availability increased to $21 million
- Operating margin decreased to 17.3% from 18.7% in the same quarter last year
- New orders in Q3 2024 ($10.6 million) were lower than the reported revenue ($11.8 million)
Insights
IS&S's Q3 2024 results show strong growth and improved financial health. Revenue increased by
The company's net income reached
IS&S has also strengthened its balance sheet, reducing net leverage from 2.9x to 0.8x since the Honeywell acquisition. With
IS&S's performance in Q3 2024 reflects a positive trend in the aerospace industry. The company's growth is largely attributed to the successful integration of Honeywell product lines, demonstrating effective M&A strategy execution. The backlog of
The company's focus on bringing more repair work in-house and insourcing sub-assemblies suggests a strategic move towards vertical integration. This approach could lead to improved margins and greater control over the supply chain, important in the current global manufacturing landscape.
IS&S's involvement in both commercial and military aviation sectors, including the Boeing T-7 Red Hawk and KC-46A programs, positions it well to capitalize on diverse market opportunities and mitigate risks associated with sector-specific downturns.
IS&S's Q3 2024 results indicate a company gaining momentum in a competitive market. The
The increase in new orders to
IS&S's focus on product extensions and efficiency gains from the Honeywell acquisition aligns with industry trends towards consolidation and value-added services. The company's improved cash position and reduced leverage provide flexibility for future strategic moves, potentially including further acquisitions or investments in R&D.
THIRD QUARTER 2024 HIGHLIGHTS
(all comparisons versus the prior year period unless otherwise noted)
-
Net revenue of
$11.8 million 47.8% -
Gross profit of
$6.3 million 32.6% ; gross margin of53.4% -
Net Income of
$1.6 million $0.09 $1.9 million $0.11 -
Adjusted EBITDA(2) of
$3.1 million 61% -
Year-to-date free cash flow(3) of
$4.8 million $0.8 million - Net leverage of 0.8x as of June 30, 2024
(1) |
Adjusted net income and adjusted diluted EPS are non-GAAP measures. Reconciliations of adjusted net income to net income and of adjusted diluted EPS to diluted earnings per share, the most directly comparable GAAP financial measures, are set forth in the reconciliation table accompanying this release. |
|
(2) |
Adjusted EBITDA and adjusted EBITDA margin are non-GAAP measures. Reconciliation of adjusted EBITDA and adjusted EBITDA margin to net income, the most directly comparable GAAP financial measure, is set forth in the reconciliation table accompanying this release. |
|
(3) |
Free cash flow is a non-GAAP measure. Reconciliation of free cash flow to net cash provided by operating activities, the most directly comparable GAAP financial measure, is set forth in the reconciliation table accompanying this release. |
MANAGEMENT COMMENTARY
“Our positive business momentum continued during the third quarter, as program execution on both new and existing platforms contributed to a
“We’ve demonstrated our ability to deliver growth in free cash flow over time while maintaining strict financial discipline,” stated Jeffrey DiGiovanni, Chief Financial Officer of IS&S. “Since the completion of our Honeywell product line acquisition announced in July 2023, we’ve reduced net leverage from 2.9x to 0.8x at the end of the third quarter, while our total cash and availability under our credit line has increased to
"We continue to execute at a high level and are well positioned as we look toward fiscal 2025,” noted Askarpour. “Our experienced management team, track record of execution, and favorable demand outlook across our general aviation, commercial air transport, and military verticals position IS&S for significant value creation, over time.”
THIRD QUARTER 2024 PERFORMANCE
Third quarter revenue was
Gross profit was
Third quarter 2024 operating expenses were
Adjusted EBITDA was
New orders in the third quarter of fiscal 2024 were
BALANCE SHEET, LIQUIDITY AND FREE CASH FLOW
As of June 30, 2024, total debt was
Cash flow from operations was
THIRD QUARTER 2024 RESULTS CONFERENCE CALL
IS&S will host a conference call at 9:00 AM ET on Friday August 9, 2024, to discuss the Company’s third quarter 2024 results.
A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of the IS&S website at https://innovative-ss.com/iss-investor-relations/events-presentations/, and a replay of the webcast will be available at the same time shortly after the webcast is complete.
To participate in the live teleconference:
Domestic Live: |
(877) 300-8521 |
|
International Live: |
(412) 317-6026 |
To listen to a replay of the teleconference, which will be available through August 23, 2024:
Domestic Replay: |
(844) 512-2921 |
|
International Replay: |
(412) 317-6671 |
|
Passcode: |
10191208 |
NON-GAAP FINANCIAL MEASURES
Adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted diluted earnings per share (“EPS”) and adjusted net cash provided by operating activities (“free cash flow”) are not measures of financial performance under GAAP and should not be considered substitutes for GAAP measures, net income (for adjusted EBITDA and adjusted EBITDA margin), diluted earnings per share (for adjusted diluted EPS) or net cash provided by operating activities (for free cash flow), which the Company considers to be the most directly comparable GAAP measures. These non-GAAP financial measures have limitations as analytical tools, and when assessing the Company’s operating performance, readers should not consider these non-GAAP financial measures in isolation or as substitutes for net income, diluted earnings per share, net cash provided by operating activities or other consolidated income statement data prepared in accordance with GAAP. Other companies in the Company’s industry may define or calculate these non-GAAP financial measures differently than the Company does, and accordingly, these measures may not be comparable to similarly titled measures used by other companies.
The Company defines adjusted EBITDA as net income before interest, taxes, depreciation, amortization, and certain items of income and expense, transaction-related acquisition and integration expenses, severance, and certain non-recurring items. The Company believes that adjusted EBITDA is an appropriate measure of operating performance because it eliminates the impact of income and expenses that do not relate to ongoing business performance, and that the presentation of this measure enhances an investor’s understanding of its financial performance.
Adjusted EBITDA margin is adjusted EBITDA divided by total revenue. Adjusted EBITDA margin is a key metric used by management to assess the Company’s financial performance. The Company believes that adjusted EBITDA margin is an appropriate measure of operating performance because it eliminates the impact of income and expenses that do not relate to ongoing business performance, and that the presentation of this measure enhances an investor’s understanding of the Company’s financial performance. The Company believes that adjusted EBITDA margin is helpful in measuring profitability of operations on a consolidated level.
Adjusted EBITDA and adjusted EBITDA margin have important limitations as analytical tools. For example, adjusted EBITDA and adjusted EBITDA margin:
- do not reflect any cash capital expenditure requirements for the assets being depreciated and amortized that may have to be replaced in the future;
- do not reflect changes in, or cash requirements for, the Company’s working capital needs;
- exclude the impact of certain cash charges resulting from matters the Company considers not to be indicative of its ongoing operations;
- do not reflect the interest expense or the cash requirements necessary to service interest or principal payments on the Company’s debt; and
- exclude certain tax payments that may represent a reduction in available cash.
Adjusted diluted EPS measures the Company’s per share earnings excluding certain expenses as discussed above for adjusted net income. Adjusted diluted EPS is calculated as adjusted net income divided by adjusted diluted weighted-average shares outstanding. The Company believes adjusted diluted EPS is useful to investors because it enables them to better evaluate per share operating performance across reporting periods.
Free cash flow is calculated as net cash provided by operating activities less capital expenditures. The Company believes that free cash flow is an important financial measure for use in evaluating financial performance because it measures the Company’s ability to generate additional cash from its business operations.
A reconciliation of each non-GAAP measure to the most directly comparable GAAP measure is set forth below.
ABOUT INNOVATIVE SOLUTIONS & SUPPORT
Headquartered in
FORWARD-LOOKING STATEMENTS
In addition to the historical information contained herein, this press release contains “forward-looking statements” within the meaning of, and intended to be covered by, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In this press release, the words “anticipates,” “believes,” “may,” “will,” “estimates,” “continues,” “anticipates,” “intends,” “forecasts,” “expects,” “plans,” “could,” “should,” “would,” “is likely”, “projected”, “might”, “potential”, “preliminary”, “provisionally”, references to “fiscal 2025”, and similar expressions, as they relate to the business or to its management, are intended to identify forward-looking statements, but they are not exclusive means of identifying them. All forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, statements about: future revenue; financial performance and profitability; future business opportunities; the integration of the Honeywell product lines, including statements regarding the ongoing integration; plans to grow organically through new product development and related market expansion, as well as via acquisitions; and the timing of long-term programs remaining in production and continuing to generate future sales. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made. Because forward-looking statements are subject to assumptions, risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the Company’s ability to efficiently integrate acquired and licensed product lines, including the Honeywell product lines, into its operations; a reduction in anticipated orders; an economic downturn; changes in the competitive marketplace and/or customer requirements; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the economic and business environments in which the Company operates. Such factors are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2023, and subsequent reports filed with the Securities and Exchange Commission. Many of the factors that will determine the Company’s future results are beyond the ability of management to control or predict. Readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
INNOVATIVE SOLUTIONS AND SUPPORT, INC CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) |
||||||
|
June 30, |
|
September 30, |
|||
2024 |
2023 |
|||||
ASSETS |
|
|
|
|
|
|
Current assets |
||||||
Cash and cash equivalents |
|
$ |
521,041 |
|
$ |
3,097,193 |
Accounts receivable |
|
7,329,662 |
|
9,743,714 |
||
Contract assets |
|
|
1,098,301 |
|
|
487,139 |
Inventories |
14,540,172 |
|
6,139,713 |
|||
Prepaid inventory |
|
|
1,899,013 |
|
|
12,069,114 |
Prepaid expenses and other current assets |
|
984,684 |
|
1,073,012 |
||
Assets held for sale |
|
|
— |
|
|
2,063,818 |
Total current assets |
|
|
26,372,873 |
|
|
34,673,703 |
Goodwill |
|
|
4,074,466 |
|
|
3,557,886 |
Intangible assets, net |
16,089,821 |
16,185,321 |
||||
Property and equipment, net |
|
|
11,590,207 |
|
|
7,892,427 |
Deferred income taxes |
1,109,598 |
456,392 |
||||
Other assets |
|
|
545,980 |
|
|
191,722 |
Total assets |
|
$ |
59,782,945 |
|
$ |
62,957,451 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
Current portion of long-term debt |
$ |
9,859,074 |
$ |
2,000,000 |
||
Accounts payable |
|
|
3,343,876 |
|
|
1,337,275 |
Accrued expenses |
|
2,818,405 |
|
2,918,325 |
||
Contract liability |
|
|
131,534 |
|
|
143,359 |
|
|
|
|
|||
Total current liabilities |
|
|
16,152,889 |
|
|
6,398,959 |
Long-term debt |
|
|
— |
|
|
17,500,000 |
Other liabilities |
|
448,931 |
|
421,508 |
||
|
|
|
|
|
|
|
Total liabilities |
|
16,601,820 |
|
24,320,467 |
||
|
|
|
|
|
|
|
Commitments and contingencies |
||||||
|
|
|
|
|
|
|
Shareholders’ equity |
||||||
|
|
|
|
|
|
|
Preferred stock, 10,000,000 shares authorized, authorized as Class A Convertible stock. No shares issued and outstanding at June 30, 2024 and September 30, 2023 |
|
— |
|
— |
||
Common stock, June 30, 2024 and September 30, 2023, respectively |
|
|
19,589 |
|
|
19,543 |
Additional paid-in capital |
|
55,043,174 |
|
54,317,265 |
||
Retained earnings |
|
|
9,486,899 |
|
|
5,668,713 |
Treasury stock, at cost, 2,096,451 shares at June 30, 2024 and at September 30, 2023 |
|
(21,368,537) |
|
(21,368,537) |
||
Total shareholders’ equity |
|
|
43,181,125 |
|
|
38,636,984 |
Total liabilities and shareholders’ equity |
$ |
59,782,945 |
$ |
62,957,451 |
||
INNOVATIVE SOLUTIONS AND SUPPORT, INC CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) |
||||||||||||
Three Months Ended June 30, |
Nine Months Ended June 30, |
|||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||
Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
Product |
$ |
5,127,056 |
$ |
6,575,411 |
$ |
14,446,753 |
$ |
17,608,769 |
||||
Customer service |
|
|
6,408,961 |
|
|
1,318,214 |
|
|
15,734,430 |
|
|
3,774,666 |
Engineering development contracts |
|
229,618 |
|
65,583 |
|
1,632,031 |
|
432,482 |
||||
Total net sales |
|
|
11,765,635 |
|
|
7,959,208 |
|
|
31,813,214 |
|
|
21,815,917 |
Cost of sales: |
|
|
|
|
|
|
|
|
|
|
|
|
Product |
|
2,106,629 |
|
2,831,511 |
|
6,235,668 |
|
7,450,205 |
||||
Customer service |
|
|
3,101,875 |
|
|
371,359 |
|
|
7,291,096 |
|
|
1,088,014 |
Engineering development contracts |
|
277,310 |
|
21,692 |
|
901,104 |
|
79,098 |
||||
Total cost of sales |
|
|
5,485,814 |
|
|
3,224,562 |
|
|
14,427,868 |
|
|
8,617,317 |
Gross profit |
|
|
6,279,821 |
|
|
4,734,646 |
|
|
17,385,346 |
|
|
13,198,600 |
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
1,099,367 |
|
851,296 |
|
3,031,630 |
|
2,387,939 |
||||
Selling, general and administrative |
|
|
3,143,334 |
|
|
2,395,714 |
|
|
9,058,347 |
|
|
7,104,212 |
Total operating expenses |
|
4,242,701 |
|
3,247,010 |
|
12,089,977 |
|
9,492,151 |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income |
|
2,037,120 |
|
1,487,636 |
|
5,295,369 |
|
3,706,449 |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
(172,784) |
|
— |
|
(704,267) |
|
— |
||||
Interest income |
|
|
5,826 |
|
|
185,652 |
|
|
121,505 |
|
|
432,495 |
Other income |
|
12,869 |
|
90,049 |
|
57,040 |
|
131,504 |
||||
Income before income taxes |
|
|
1,883,031 |
|
|
1,763,337 |
|
|
4,769,647 |
|
|
4,270,448 |
Income tax expense |
|
|
330,511 |
|
|
339,958 |
|
|
951,461 |
|
|
877,315 |
|
|
|
|
|||||||||
Net income |
|
$ |
1,552,520 |
|
$ |
1,423,379 |
|
$ |
3,818,186 |
|
$ |
3,393,133 |
Net income per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.09 |
$ |
0.08 |
$ |
0.22 |
$ |
0.19 |
||||
Diluted |
|
$ |
0.09 |
|
$ |
0.08 |
|
$ |
0.22 |
|
$ |
0.19 |
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
17,461,652 |
|
7,576,969 |
|
17,455,903 |
|
17,415,358 |
||||
Diluted |
|
|
17,467,259 |
|
|
17,577,588 |
|
|
17,476,089 |
|
|
17,419,265 |
Reconciliation of Net Income to Adjusted EBITDA |
|||||||
|
|
|
|||||
Three Months Ended June |
Nine Months Ended June |
||||||
2023 |
|
2024 |
|
2023 |
|
2024 |
|
Net Income |
|
|
|
|
|
|
|
Income tax expense |
339,958 |
330,511 |
877,315 |
951,461 |
|||
Interest expense |
(185,652) |
|
172,784 |
|
(432,495) |
|
588,588 |
Depreciation and amortization |
87,503 |
611,155 |
258,892 |
1,437,232 |
|||
EBITDA |
|
|
|
|
|
|
|
|
|||||||
Acquisition related costs |
246,199 |
175,278 |
246,199 |
517,352 |
|||
CFO transition, ATM Costs and other strategic initiatives |
- |
233,678 |
- |
|
612,907 |
||
Adjusted EBITDA |
|
|
|
|
|
|
|
Adjusted EBITDA margin |
|
|
|
|
|||
Reconciliation of Net Income to Adjusted Net Income |
|||||||
Three Months Ended June |
Nine Months Ended June |
||||||
2023 |
|
2024 |
|
2023 |
|
2024 |
|
Net Income |
|
|
|
|
|
|
|
Acquisition related costs |
246,199 |
175,278 |
246,199 |
517,352 |
|||
CFO transition, ATM Costs and other strategic initiatives |
- |
|
233,678 |
|
- |
|
612,907 |
Tax impact |
51,702 |
85,881 |
51,702 |
237,354 |
|||
Adjusted Net Income |
|
|
|
|
|
|
|
Diluted shares outstanding |
17,577,588 |
|
17,467,259 |
|
17,419,265 |
|
17,476,089 |
Diluted earnings per share as reported |
|
|
|
|
|
|
|
Total EPS effect |
|
|
|
|
|||
Adjusted diluted earnings per share |
|
|
|
|
|
|
|
Free Cash Flow |
|||||||||
Three Months Ended June |
Nine Months Ended June |
||||||||
2023 |
2024 |
2023 |
2024 |
||||||
Operating Cashflow |
|
|
|
|
|
|
|
|
|
Capital Expenditures |
84,933 |
203,279 |
165,084 |
511,927 |
|||||
Free Cash Flow |
|
|
|
|
|
|
|
|
|
Net Debt and Net Debt Leverage Ratio |
|||||||
Three Months Ended June |
|||||||
|
2023 |
|
|
2024 |
|||
Total Debt |
|
|
$ |
20,000,000 |
|
$ |
9,859,074 |
Cash |
$ |
2,572,233 |
$ |
521,041 |
|||
Net Debt |
|
|
$ |
17,427,767 |
|
$ |
9,338,033 |
Net Leverage Ratio |
2.6x |
0.8x |
|||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20240809270913/en/
IR CONTACT
Paul Bartolai or Noel Ryan
ISSC@val-adv.com
Source: Innovative Solutions & Support, Inc.
FAQ
What was Innovative Solutions & Support's (ISSC) revenue for Q3 2024?
How much did ISSC's adjusted EBITDA grow in Q3 2024?
What was ISSC's net income per diluted share for Q3 2024?
How much free cash flow did ISSC generate in the first nine months of 2024?
What was ISSC's backlog as of June 30, 2024?
