NTG Clarity Letter to Shareholders: 2024 Wrap-Up
NTG Clarity Networks (TSXV: NCI) (OTC Pink: NYWKF) released a shareholder letter highlighting its transformative 2024 performance. The company reported significant growth with revenue reaching $38.9 million in the first nine months, a 100% year-over-year increase, targeting $55M for full-year 2024.
Key achievements include growing their team by 67% to over 1,000 employees, securing three major contracts valued at $80M over three years, and building a backlog exceeding $100 million. Financial metrics showed strong improvement with Adjusted EBITDA increasing 127% to $8.0 million and net income growing 270% to $6.9 million through Q3. The company completed a $4.8 million equity raise to support growth.
Operating metrics demonstrated robust performance with 17% customer growth, 87% retention rate, and 57% of customers increasing their service levels. The company's success is attributed to its 20-year strategic foundation in Saudi Arabia, focusing on relationship building, talent development, and future investments.
NTG Clarity Networks (TSXV: NCI) (OTC Pink: NYWKF) ha pubblicato una lettera agli azionisti evidenziando le sue prestazioni trasformative per il 2024. L'azienda ha registrato una crescita significativa, con ricavi che hanno raggiunto $38,9 milioni nei primi nove mesi, un aumento del 100% rispetto all'anno precedente, puntando a $55 milioni per l'intero anno 2024.
Tra i risultati chiave figurano l'aumento del loro team del 67% a oltre 1.000 dipendenti, l'ottenimento di tre contratti principali del valore di $80 milioni su tre anni e la costruzione di un backlog che supera i $100 milioni. I metriche finanziari hanno mostrato un forte miglioramento, con un EBITDA rettificato in aumento del 127% a $8,0 milioni e un reddito netto in crescita del 270% a $6,9 milioni fino al terzo trimestre. L'azienda ha completato un'operazione di aumento di capitale di $4,8 milioni per supportare la crescita.
I metriche operativi hanno dimostrato una robusta performance con una crescita dei clienti del 17%, un tasso di retention dell'87% e il 57% dei clienti che aumenta i propri livelli di servizio. Il successo dell'azienda è attribuito alla sua fondazione strategica ventennale in Arabia Saudita, focalizzandosi sulla costruzione di relazioni, sviluppo del talento e investimenti futuri.
NTG Clarity Networks (TSXV: NCI) (OTC Pink: NYWKF) publicó una carta a los accionistas resaltando su rendimiento transformador para 2024. La empresa reportó un crecimiento significativo con ingresos que alcanzaron los $38.9 millones en los primeros nueve meses, un aumento del 100% interanual, apuntando a $55 millones para todo el año 2024.
Los logros clave incluyen el crecimiento de su equipo en un 67%, superando los 1,000 empleados, la obtención de tres contratos importantes valorados en $80 millones durante tres años, y la construcción de un backlog que supera los $100 millones. Las métricas financieras mostraron una fuerte mejoría, con un EBITDA ajustado en aumento del 127% a $8.0 millones y un ingreso neto en crecimiento del 270% a $6.9 millones hasta el tercer trimestre. La empresa completó una recaudación de capital de $4.8 millones para apoyar su crecimiento.
Las métricas operativas demostraron un rendimiento robusto con un crecimiento de clientes del 17%, una tasa de retención del 87% y el 57% de los clientes aumentando sus niveles de servicio. El éxito de la empresa se atribuye a su estratégica base de 20 años en Arabia Saudita, centrada en la construcción de relaciones, desarrollo de talento e inversiones futuras.
NTG 클라리티 네트웍스 (TSXV: NCI) (OTC Pink: NYWKF)는 2024년의 혁신적인 성과를 강조하는 주주 서한을 발표했습니다. 회사는 첫 9개월 동안 수익이 3,890만 달러에 도달하며 상당한 성장을 보고했으며, 이는 전년 대비 100% 증가한 수치로, 2024년 전체 연간 목표는 5,500만 달러입니다.
주요 성과로는 67% 증가하여 1,000명 이상의 직원으로 팀을 확장하고, 3년 간 총 8,000만 달러 규모의 세 개 주요 계약을 따내며, 1억 달러가 넘는 백로그를 구축한 것입니다. 재무 지표는 조정 EBITDA가 127% 증가한 800만 달러, 순이익이 270% 증가한 690만 달러로 강한 개선을 보였습니다. 회사는 성장을 지원하기 위해 480만 달러의 주식 자금 조달을 완료했습니다.
운영 지표는 17%의 고객 증가, 87%의 유지율, 그리고 고객의 57%가 서비스 수준을 높인 Robust한 성과를 보여주었습니다. 회사의 성공은 사우디 아라비아에서의 20년 전략적 기초에 기인하며, 관계 구축, 인재 개발, 미래 투자에 중점을 두고 있습니다.
NTG Clarity Networks (TSXV: NCI) (OTC Pink: NYWKF) a publié une lettre aux actionnaires soulignant ses performances transformantes pour 2024. L'entreprise a rapporté une croissance significative avec des revenus atteignant 38,9 millions de dollars au cours des neuf premiers mois, soit une augmentation de 100 % par rapport à l'année précédente, visant 55 millions de dollars pour l'année complète 2024.
Les réalisations clés comprennent l'augmentation de leur équipe de 67 % pour atteindre plus de 1 000 employés, la sécurisation de trois contrats majeurs d'une valeur de 80 millions de dollars sur trois ans, et la constitution d'un carnet de commandes dépassant les 100 millions de dollars. Les indicateurs financiers montrent une forte amélioration avec un EBITDA ajusté en hausse de 127 % pour atteindre 8,0 millions de dollars et un revenu net en hausse de 270 % à 6,9 millions de dollars jusqu'au troisième trimestre. L'entreprise a complété une levée de fonds de 4,8 millions de dollars pour soutenir sa croissance.
Les indicateurs opérationnels ont montré une performance robuste avec une croissance de la clientèle de 17 %, un taux de fidélisation de 87 % et 57 % des clients augmentant leurs niveaux de service. Le succès de l'entreprise est attribué à sa base stratégique de 20 ans en Arabie Saoudite, axée sur la construction de relations, le développement des talents et les investissements futurs.
NTG Clarity Networks (TSXV: NCI) (OTC Pink: NYWKF) hat einen Aktionärsbrief veröffentlicht, in dem die transformative Leistung für 2024 hervorgehoben wird. Das Unternehmen berichtete von einem deutlichen Wachstum mit Einnahmen von 38,9 Millionen US-Dollar in den ersten neun Monaten, was einem Anstieg von 100 % im Vergleich zum Vorjahr entspricht, mit dem Ziel, 55 Millionen US-Dollar für das gesamte Jahr 2024 zu erreichen.
Zu den wichtigsten Erfolgen gehören das Wachstum ihres Teams um 67 % auf über 1.000 Mitarbeiter, der Abschluss von drei Großverträgen im Wert von 80 Millionen US-Dollar über drei Jahre und der Aufbau eines Auftragsbestands von über 100 Millionen US-Dollar. Die finanziellen Kennzahlen zeigten eine starke Verbesserung, da das bereinigte EBITDA um 127 % auf 8,0 Millionen US-Dollar stieg und der Nettogewinn um 270 % auf 6,9 Millionen US-Dollar bis zum dritten Quartal wuchs. Das Unternehmen hat eine Kapitalerhöhung in Höhe von 4,8 Millionen US-Dollar abgeschlossen, um das Wachstum zu unterstützen.
Die betrieblichen Kennzahlen zeigten eine robuste Leistung mit einem Kundenzuwachs von 17 %, einer Kundenbindungsrate von 87 % und 57 % der Kunden, die ihr Servicelevel erhöhten. Der Erfolg des Unternehmens wird auf das 20-jährige strategische Fundament in Saudi-Arabien zurückgeführt, das sich auf Beziehungsaufbau, Talententwicklung und zukünftige Investitionen konzentriert.
- Revenue doubled YoY to $38.9M in first nine months
- Net income surged 270% YoY to $6.9M
- Adjusted EBITDA increased 127% to $8.0M
- Secured $80M in new contracts over three years
- Contract backlog exceeded $100M
- Team expanded 67% to over 1,000 employees
- 87% customer retention rate
- Successfully raised $4.8M through equity offering
- None.
Toronto, Ontario--(Newsfile Corp. - January 15, 2025) - NTG Clarity Networks Inc. (TSXV: NCI) (OTC Pink: NYWKF); NTG Clarity management is pleased to share the following letter with shareholders.
Dear Shareholders,
With the new year comes time for reflection, and 2024 has been a transformative year for NTG Clarity. Decades of strategic investment have met significant tailwinds in our key market to deliver remarkable results. While we know there is still much more to achieve, this year represents a pivotal moment in our journey, showcasing the strength of our long-term commitment to growing our business in Saudi Arabia and across the region.
For more than 20 years, we have methodically built NTG's foundation in Saudi Arabia through three strategic pillars:
- Deeply entrenched relationships in Saudi Arabia
- We've cultivated trusted relationships with IT professionals across all levels, many of whom now hold leadership and key decision-making roles in some of the largest financial, telecom, and government organizations in Saudi Arabia. These relationships are driving our revenue growth today and going forward.
- Education & training programs to build our talent pipeline
- For decades, we've partnered with Egyptian schools to upskill and train engineering and IT professionals, creating a robust talent pipeline. This strategy reached a new milestone in 2023 when we partnered with the Egyptian Ministry of Education to establish two NTG schools dedicated to training future professionals. This is allowing us to rapidly scale to handle the demand and continue providing outstanding service to our customers.
- Investing in the future
- We've expanded our training programs within Saudi Arabia to develop the technical and business leaders of tomorrow. These investments are already compounding the relationship network effects that have been central to our growth.
The success of our strategy is evident in our 2024 results. Through the first nine months of the year, we've grown our team by
- Significant Revenue Growth: Increased revenue to
$38.9 million , compared to$19.5 million through the same nine-month period in the prior year. This100% year-over-year growth puts us on track to reach our target of$55M in revenue for 2024. - Sustained Momentum: 14 consecutive quarters of LTM revenue growth, with 8 quarters setting company all-time records.
- Improved Profitability: Increased Adjusted EBITDA to
$8.0 million through the first nine months of the year, a127% increase year over year. Increased Net Income through the same time period to$6.9 million a270% increase year over year. - Fortified Balance Sheet: Completed an equity raise for
$4.8 million in net proceeds, strengthening our balance sheet to sustain record growth.
Our underlying KPIs are also showing the strength of our strategy, product market fit, and the excellent value that our customers get from our services. Through the first nine months of the year, we saw:
- Large and Longer Contract Wins: We signed three major contracts valued at
$80M over three years, including our largest contract ever. This puts our backlog of unbilled purchase orders and contracts on hand at over$100 million as of November 30, 2024, with visibility out over three years. - Increase in New Customers: We've seen a
17% increase in customers[1] driven by our relationships with key decision makers at some of the largest Saudi organizations. - Strong Customer Satisfaction: With
87% customer retention[2] and57% of customers increasing their level of service[3] it is clear they recognize the quality and value NTG provides. - Accelerating Interest in Software Products: In and leading up to 2024, our largest professional services clients have signed on to work on proofs of concept and projects to implement our proprietary NTGapps software. We look forward to continued opportunities to grow this line of business which brings with it revenue and margin expansion.
2024 has been an extraordinary year, with every financial and operational KPI trending in the right direction. We're energized to carry this momentum into 2025 and beyond. We deeply appreciate the support and confidence of our shareholders and are committed to introducing more people to the NTG story.
If you haven't already, I encourage you to explore our updated investor deck and video at https://ntgclarity.com/investors/. For any questions or further insights, please feel free to reach out to me at the email address below.
Thank you for being part of this journey.
Sincerely,
Adam Zaghloul
Vice President, Strategy & Planning
NTG Clarity Networks Inc.
adam@ntgclarity.com.
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About NTG Clarity Networks Inc.
NTG Clarity Networks' vision is to be a global leader in digital transformation solutions. As a Canadian company established in 1992, NTG Clarity has delivered software, networking, and IT solutions to large enterprises including financial institutions and network service providers. More than 1000 IT and network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading enterprises.
Forward-Looking Information
Certain statements in this release, other than statements of historical fact, are forward looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature.
These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The company assumes no obligation to update forward looking statements should circumstances or management's estimates or opinions change.
For Further Information:
Adam Zaghloul, Vice President, Strategy & Planning
NTG Clarity Networks Inc.
Ph: 905-305-1325
Fax: 905-752-0469
Email: adam@ntgclarity.com
Neither 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.
[1] Customer defined as accounts spending more than
[2] Customer retention for Middle East based customers as of nine-months ended September 30, 2024. Customer defined as accounts spending more than
[3] Calculated as % of total customers that spent more with NTG through nine-months ended September 30, 2024, compared to prior year period. Customer defined as accounts spending more than
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