OTC Markets Group Reports Fourth Quarter and Full Year 2024 Results Delivering Revenue Growth
OTC Markets Group (OTCQX: OTCM) reported its Q4 and full-year 2024 financial results, achieving record gross revenues of $111.1 million, up 1% from 2023. The company's operating income decreased 1% to $32.2 million, with an operating profit margin of 29.9%. Net income declined 1% to $27.4 million, resulting in GAAP diluted EPS of $2.26.
Key highlights include: $29.5 million returned to shareholders through dividends ($26.6M) and share repurchases ($2.9M); 567 OTCQX and 1,050 OTCQB companies at year-end; and 43 companies graduating to national securities exchanges. The company announced plans to launch OTCID Basic Reporting Market in July 2025, introduced OTC Overnight trading for OTC equity securities, and launched MOON ATS for overnight trading in NMS securities.
Q4 2024 showed improvement with gross revenues of $28.5 million (+3% YoY), while operating income remained flat at $8.8 million. The company declared a Q1 2025 dividend of $0.18 per share and authorized a new stock buyback program for up to 300,000 shares.
OTC Markets Group (OTCQX: OTCM) ha riportato i risultati finanziari del quarto trimestre e dell'intero anno 2024, raggiungendo ricavi lordi record di 111,1 milioni di dollari, in aumento dell'1% rispetto al 2023. Il reddito operativo dell'azienda è diminuito dell'1% a 32,2 milioni di dollari, con un margine di profitto operativo del 29,9%. L'utile netto è sceso dell'1% a 27,4 milioni di dollari, portando a un EPS diluito GAAP di 2,26 dollari.
Tra i punti salienti ci sono: 29,5 milioni di dollari restituiti agli azionisti tramite dividendi (26,6 milioni di dollari) e riacquisti di azioni (2,9 milioni di dollari); 567 aziende OTCQX e 1.050 aziende OTCQB a fine anno; e 43 aziende che si sono trasferite su borse valori nazionali. L'azienda ha annunciato piani per lanciare il mercato OTCID Basic Reporting nel luglio 2025, ha introdotto il trading overnight per titoli azionari OTC e ha lanciato MOON ATS per il trading overnight in titoli NMS.
Il quarto trimestre del 2024 ha mostrato miglioramenti con ricavi lordi di 28,5 milioni di dollari (+3% rispetto all'anno precedente), mentre il reddito operativo è rimasto stabile a 8,8 milioni di dollari. L'azienda ha dichiarato un dividendo per il primo trimestre del 2025 di 0,18 dollari per azione e ha autorizzato un nuovo programma di riacquisto di azioni fino a 300.000 azioni.
OTC Markets Group (OTCQX: OTCM) informó sus resultados financieros del cuarto trimestre y del año completo 2024, logrando ingresos brutos récord de 111.1 millones de dólares, un aumento del 1% en comparación con 2023. El ingreso operativo de la empresa disminuyó un 1% a 32.2 millones de dólares, con un margen de beneficio operativo del 29.9%. El ingreso neto cayó un 1% a 27.4 millones de dólares, resultando en un EPS diluido GAAP de 2.26 dólares.
Los puntos destacados incluyen: 29.5 millones de dólares devueltos a los accionistas a través de dividendos (26.6 millones de dólares) y recompra de acciones (2.9 millones de dólares); 567 empresas OTCQX y 1,050 empresas OTCQB al final del año; y 43 empresas que se graduaron a bolsas de valores nacionales. La empresa anunció planes para lanzar el mercado OTCID Basic Reporting en julio de 2025, introdujo el comercio nocturno para valores de capital OTC y lanzó MOON ATS para el comercio nocturno en valores NMS.
El cuarto trimestre de 2024 mostró una mejora con ingresos brutos de 28.5 millones de dólares (+3% interanual), mientras que el ingreso operativo se mantuvo plano en 8.8 millones de dólares. La empresa declaró un dividendo para el primer trimestre de 2025 de 0.18 dólares por acción y autorizó un nuevo programa de recompra de acciones por hasta 300,000 acciones.
OTC 마켓 그룹 (OTCQX: OTCM)은 2024년 4분기 및 전체 연도 재무 결과를 보고하며, 1억 1,110만 달러의 기록적인 총 수익을 달성했다고 발표했습니다. 이는 2023년 대비 1% 증가한 수치입니다. 회사의 운영 수익은 1% 감소하여 3,220만 달러에 이르렀으며, 운영 이익률은 29.9%입니다. 순이익은 1% 감소하여 2,740만 달러에 도달했으며, GAAP 희석 EPS는 2.26달러입니다.
주요 하이라이트에는 주주에게 배당금(2,660만 달러)과 자사주 매입(290만 달러)을 통해 2,950만 달러가 반환되었으며; 연말 기준 567개의 OTCQX 기업과 1,050개의 OTCQB 기업이 있었고; 43개의 기업이 국가 증권 거래소로 졸업했습니다. 회사는 2025년 7월에 OTCID 기본 보고 시장을 출시할 계획을 발표했으며, OTC 주식에 대한 야간 거래를 도입하고, NMS 증권에 대한 야간 거래를 위한 MOON ATS를 출시했습니다.
2024년 4분기는 총 수익이 2,850만 달러(+3% 전년 대비)로 개선되었으며, 운영 수익은 880만 달러로 유지되었습니다. 회사는 2025년 1분기 주당 0.18달러의 배당금을 선언하고, 최대 300,000주까지의 새로운 자사주 매입 프로그램을 승인했습니다.
OTC Markets Group (OTCQX: OTCM) a publié ses résultats financiers du quatrième trimestre et de l'année entière 2024, atteignant des revenus bruts record de 111,1 millions de dollars, en hausse de 1 % par rapport à 2023. Le résultat d'exploitation de l'entreprise a diminué de 1 % pour atteindre 32,2 millions de dollars, avec une marge bénéficiaire opérationnelle de 29,9 %. Le bénéfice net a chuté de 1 % pour s'établir à 27,4 millions de dollars, entraînant un BPA dilué GAAP de 2,26 dollars.
Les faits saillants comprennent : 29,5 millions de dollars retournés aux actionnaires via des dividendes (26,6 millions de dollars) et des rachats d'actions (2,9 millions de dollars) ; 567 entreprises OTCQX et 1 050 entreprises OTCQB à la fin de l'année ; et 43 entreprises diplômées sur des bourses de valeurs nationales. L'entreprise a annoncé des plans pour lancer le marché OTCID Basic Reporting en juillet 2025, a introduit le trading nocturne pour les titres de capitaux propres OTC et a lancé MOON ATS pour le trading nocturne des titres NMS.
Le quatrième trimestre 2024 a montré une amélioration avec des revenus bruts de 28,5 millions de dollars (+3 % par rapport à l'année précédente), tandis que le résultat d'exploitation est resté stable à 8,8 millions de dollars. L'entreprise a déclaré un dividende de 0,18 dollar par action pour le premier trimestre 2025 et a autorisé un nouveau programme de rachat d'actions jusqu'à 300 000 actions.
OTC Markets Group (OTCQX: OTCM) hat seine Finanzzahlen für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht und dabei Rekordumsätze von 111,1 Millionen Dollar erzielt, was einem Anstieg von 1% gegenüber 2023 entspricht. Das Betriebsergebnis des Unternehmens sank um 1% auf 32,2 Millionen Dollar, mit einer operativen Gewinnmarge von 29,9%. Der Nettogewinn fiel um 1% auf 27,4 Millionen Dollar, was zu einem GAAP-diluted EPS von 2,26 Dollar führte.
Zu den wichtigsten Highlights gehören: 29,5 Millionen Dollar, die an die Aktionäre durch Dividenden (26,6 Millionen Dollar) und Aktienrückkäufe (2,9 Millionen Dollar) zurückgegeben wurden; 567 OTCQX- und 1.050 OTCQB-Unternehmen zum Jahresende; und 43 Unternehmen, die an nationale Wertpapierbörsen gewechselt sind. Das Unternehmen kündigte Pläne zur Einführung des OTCID Basic Reporting Market im Juli 2025 an, führte den OTC Overnight-Handel für OTC-Aktien ein und startete MOON ATS für den Overnight-Handel mit NMS-Wertpapieren.
Das vierte Quartal 2024 zeigte Verbesserungen mit einem Umsatz von 28,5 Millionen Dollar (+3% im Jahresvergleich), während das Betriebsergebnis mit 8,8 Millionen Dollar stabil blieb. Das Unternehmen erklärte eine Dividende von 0,18 Dollar pro Aktie für das erste Quartal 2025 und genehmigte ein neues Aktienrückkaufprogramm von bis zu 300.000 Aktien.
- Record gross revenues of $111.1M in 2024
- Q4 2024 revenues up 3% YoY to $28.5M
- OTC Link revenues increased 33% in Q4
- Trading volume growth with 38,000 average daily trades vs 32,000 in 2023
- New product launches: OTC Overnight and MOON ATS
- Operating income declined 1% to $32.2M
- Net income decreased 1% to $27.4M
- Operating profit margin dropped to 29.9% from 30.6%
- Corporate Services revenues declined 6% in Q4
- Lower number of companies on OTCQX and OTCQB markets
Fourth Quarter and Full Year 2024 Highlights:
- Gross revenues of
$111.1 million for the year, up1% versus 2023 - Operating income of
$32.2 million for the year, down1% versus 2023 - Operating profit margin of
29.9% for the year, versus30.6% for 2023 - Net income of
$27.4 million for 2024, down1% versus 2023, and GAAP diluted EPS of$2.26 versus$2.28 for 2023 - Total cash returned to shareholders during 2024 of
$29.5 million , comprised of dividends of$26.6 million and repurchases of common shares of$2.9 million , down1% versus 2023 - Announcing first quarter 2025 dividend of
$0.18 per share - 567 OTCQX® and 1,050 OTCQB® companies at year end
- 43 graduates to a national securities exchange during 2024
- 114 subscribers to OTC Link ECN as of year-end 2024, up 6 versus 2023
- 141 unique OTC Link subscribers, up 5 versus 2023
- Approximately 38,000 average daily trades during 2024, versus approximately 32,000 during 2023
- Fourth quarter gross revenues of
$28.5 million , up3% versus the prior year quarter - Fourth quarter operating income of
$8.8 million , flat versus the prior year quarter - Fourth quarter operating profit margin of
31.6% , compared to32.8% in the prior year quarter - OTC Markets Group announced that in July 2025, it will launch OTCIDTM – a Basic Reporting Market for companies that meet a minimal current information standard and provide management certification. The Pink Current Market will cease to exist
- In September 2024, OTC Markets Group launched OTC OvernightTM, a new offering for overnight trading in OTC equity securities
- In November 2024, OTC Markets Group launched MOON ATSTM, a new offering for overnight trading in NMS securities
NEW YORK, March 12, 2025 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced its financial results for the fourth quarter and full year 2024.
“In 2024, we focused on the groundwork for projects that we will prioritize in the current year: OTC Overnight to support trading in OTC securities, and MOON ATS to support trading in exchange-listed, NMS securities,” said R. Cromwell Coulson, President and Chief Executive Officer. “Additionally, we began the work to launch a new market – the OTCID Basic Reporting Market. The expected July 1, 2025 launch of OTCID will provide a more detailed distinction between each of our markets, support companies that publish basic disclosure for investors, and clearly label securities that trade with limited to no involvement from the issuer. We believe this will increase opportunities for companies to provide ongoing information and improve the quality of our markets.”
“In 2024, our gross revenues exceeded
Fourth Quarter 2024 compared to Fourth Quarter 2023
| Quarter Ended December 31, | ||||||||||||||
| (in thousands, except shares and per share data) | 2024 | 2023 | % change | $ change | ||||||||||
| OTC Link | $ | 6,364 | $ | 4,802 | 33 | % | 1,562 | |||||||
| Market data licensing | 10,893 | 10,881 | - | 12 | ||||||||||
| Corporate services | 11,194 | 11,922 | (6 | %) | ( 728 | ) | ||||||||
| Gross Revenues | 28,451 | 27,605 | 3 | % | 846 | |||||||||
| Net revenues | 27,660 | 26,772 | 3 | % | 888 | |||||||||
| Revenues less transaction-based expenses | 25,503 | 25,442 | - | 61 | ||||||||||
| Operating expenses | 16,753 | 16,651 | 1 | % | 102 | |||||||||
| Income from operations | 8,750 | 8,791 | - | ( 41 | ) | |||||||||
| Operating profit margin | 31.6 | % | 32.8 | % | ||||||||||
| Income before provision for income taxes | 9,050 | 9,065 | - | ( 15 | ) | |||||||||
| Net income | $ | 7,215 | $ | 7,001 | 3 | % | 214 | |||||||
| Diluted earnings per share | $ | 0.60 | $ | 0.58 | 3 | % | ||||||||
| Adjusted diluted earnings per share | $ | 0.91 | $ | 0.89 | 2 | % | ||||||||
| Weighted-average shares outstanding, diluted | 11,855,291 | 11,874,331 | - | |||||||||||
Fourth Quarter 2024 Financial Highlights
- Gross revenues of
$28.5 million , up3% over the prior year quarter. Revenues less transaction-based expenses flat to the prior year quarter. - OTC Link revenues up
33% . Transaction-based revenues from OTC Link ECN and OTC Link NQB up56% , predominantly reflecting the benefit of higher trading volumes on these platforms. Additionally, revenue from OTC Link ATS messages increased22% due to higher number of messages and fee increases. Further contributing to the overall increase in OTC Link revenues was an increase in certain connectivity revenue due to the introduction of additional fees in 2024. - Market Data Licensing revenues were flat to the prior year quarter. Redistributor-based revenues decreased
4% , with professional user revenues declining5% , and non-professional user revenues increasing1% quarter over quarter. Market Data Licensing saw a lower number of professional users during the quarter, compared to the prior year quarter, reflected in a3% decline in period-end number of professional users, while the addition of a new redistributor relationship at the end of the third quarter of 2024 gradually drove a12% increase in the period-end number of non-professional users. Revenues from direct sold licenses increased5% primarily due to growth in subscribers and corresponding revenue from broker-dealer enterprise licenses. Revenues from data and compliance solutions increased4% , due to price increases for certain licenses and additional fees driving higher data services and Blue Sky data revenue, partially offset by lower EDGAR Online revenue due to subscriber cancellations. - Corporate Services revenues were down
6% quarter over quarter, driven by a4% decrease in revenues from each of our OTCQX and OTCQB markets, and a6% decrease in revenues from the Disclosure & News Service® (“DNS”), in each case due to a lower number of companies on our markets or subscribing to DNS, which more than offset the impact of the annual, incremental price increases effective at the beginning of 2024. Also contributing to the decline in Corporate Services revenues for the quarter was lower revenue from our Virtual Investor Conferences® (“VIC”) product due to fewer events held and a lower number of participants per event. - Operating expenses increased
1% over the prior year quarter. The increase was primarily driven by a7% increase in compensation and benefits and a16% increase in IT infrastructure and information services costs, partially offset by a42% reduction in professional and consulting fees, as certain one-time costs in the prior year quarter did not recur. - Operating income was flat to the prior year quarter at
$8.8 million , while net income increased3% to$7.2 million . - Adjusted EBITDA, which excludes non-cash stock-based compensation expense, increased
2% to$11.0 million , or$0.91 per adjusted diluted share.
Fiscal Year 2024 Results compared to Fiscal Year 2023
| Year Ended December 31, | ||||||||||||||
| (in thousands, except shares and per share data) | 2024 | 2023 | % change | $ change | ||||||||||
| OTC Link | $ | 22,409 | $ | 19,599 | 14 | % | 2,810 | |||||||
| Market data licensing | 43,626 | 43,368 | 1 | % | 258 | |||||||||
| Corporate services | 45,029 | 46,928 | (4 | %) | ( 1,899 | ) | ||||||||
| Gross Revenues | 111,064 | 109,895 | 1 | % | 1,169 | |||||||||
| Net revenues | 107,882 | 106,658 | 1 | % | 1,224 | |||||||||
| Revenues less transaction-based expenses | 101,233 | 101,134 | - | 99 | ||||||||||
| Operating expenses | 69,021 | 68,540 | 1 | % | 481 | |||||||||
| Income from operations | 32,212 | 32,594 | (1 | %) | ( 382 | ) | ||||||||
| Operating profit margin | 29.9 | % | 30.6 | % | ||||||||||
| Income before provision for income taxes | 33,142 | 33,497 | (1 | %) | ( 355 | ) | ||||||||
| Net income | $ | 27,360 | $ | 27,661 | (1 | %) | ( 301 | ) | ||||||
| Diluted earnings per share | $ | 2.26 | $ | 2.28 | (1 | %) | ||||||||
| Adjusted diluted earnings per share | $ | 3.41 | $ | 3.37 | 1 | % | ||||||||
| Weighted-average shares outstanding, diluted | 11,840,819 | 11,863,180 | - | |||||||||||
Fiscal Year 2024 Financial Highlights
- Gross revenues of
$111.1 million , up1% . Revenues less transaction-based expenses flat to the prior year. - OTC Link revenues up
14% , primarily driven by a21% increase in revenues from OTC Link ECN and OTC Link NQB, due to a higher volume of shares traded on those platforms, and a16% increase in revenue from OTC Link ATS messages, due to fee increases offsetting a lower number of messages. Further contributing to the overall increase in OTC Link revenues was an increase in certain connectivity revenue due to the introduction of additional fees. - Market Data Licensing revenues up
1% . A4% increase in revenues from direct sold licenses and a2% increase in revenues from data and compliance solutions, in each case due to the same drivers as described in the fourth quarter results, were largely offset by a2% decline in redistributor-based revenues, due to lower professional and non-professional user revenues. - Corporate Services revenues down
4% . OTCQB and DNS revenues were down5% and7% , respectively, due to a lower number of companies subscribing to OTCQB and DNS, more than offsetting the impact of pricing adjustments. OTCQX revenues were relatively flat, with incremental pricing adjustments offsetting the lower number of companies on the OTCQX market. Lower revenues from VIC, due to the same drivers as described in the fourth quarter results, also contributed to the overall decline in Corporate Services revenues. - Operating expenses were up
1% , reflecting a4% increase in compensation and benefits, a3% increase in IT infrastructure and information services costs, and a12% increase in depreciation and amortization, substantially offset by a22% decline in professional and consulting fees, due to approximately$1.4 million in one-time costs related to an SEC matter and approximately$1.1 million in non-recurring integration costs related to EDGAR Online, each in the prior year. - Operating income and net income each decreased
1% to$32.2 million and$27.4 million , respectively. - Adjusted EBITDA increased
1% to$41.3 million , or$3.41 per adjusted diluted share.
Dividend Declaration – Quarterly Cash Dividend
OTC Markets Group announced today that its Board of Directors authorized and approved a quarterly cash dividend of
Stock Buyback Program
The Company is authorized to purchase shares from time to time on the open market, from employees and consultants, and through block trades, in compliance with applicable law.
On March 11, 2025, the Board of Directors refreshed the Company’s stock repurchase program, giving the Company authorization to repurchase up to 300,000 shares of the Company’s Class A Common Stock.
Non-GAAP Financial Measures
In addition to disclosing results prepared in accordance with GAAP, the Company also discloses certain non-GAAP results of operations, including adjusted EBITDA and adjusted diluted earnings per share that either exclude or include amounts that are described in the reconciliation table of GAAP to non-GAAP information provided at the end of this release. Non-GAAP financial measures do not replace and are not superior to the presentation of GAAP financial results but are provided to improve overall understanding of the Company’s current financial performance. Management believes that this non-GAAP information is useful to both management and investors regarding certain additional financial and business trends related to the operating results. Management uses this non-GAAP information, along with GAAP information, in evaluating its historical operating performance.
Fourth Quarter and Full Year 2024 Conference Call
The Company will host a conference call and webcast on Thursday, March 13, 2025, at 8:30 a.m. Eastern Time, during which management will discuss the financial results in further detail.
Webcast:
The conference webcast and management presentation can be accessed at the following link (replay available until March 12, 2026):
https://edge.media-server.com/mmc/p/n6hcdcqb
Live Call:
Participants intending to ask a question during the live call and Q&A session should also register in advance at:
https://register.vevent.com/register/BI27b59e5597d341e1a1a461fb3784f94d
Upon registration, participants will receive a dial-in number along with a unique PIN number that can be used to access the live call. Live call participants may also select a “Call Me” option.
OTC Markets Group’s Annual Report, earnings release, transcript of the earnings call, and management presentation will also be available in the Investor Relations section of our corporate website at www.otcmarkets.com/investor-relations/overview.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market, and Pink® Open Market.
Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.
OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS are each an SEC-regulated ATS, operated by OTC Link LLC, a FINRA and SEC-registered broker-dealer, member SIPC.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
Investor Contact:
Antonia Georgieva
Chief Financial Officer
Phone: (212) 220-2215
Email: ir@otcmarkets.com
Media Contact:
OTC Markets Group Inc.
Phone: (212) 896-4428
Email: media@otcmarkets.com
| OTC MARKETS GROUP INC. | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||
| (in thousands, except share and per share information) | |||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| OTC Link | $ | 6,364 | $ | 4,802 | $ | 22,409 | $ | 19,599 | |||||||
| Market data licensing | 10,893 | 10,881 | 43,626 | 43,368 | |||||||||||
| Corporate services | 11,194 | 11,922 | 45,029 | 46,928 | |||||||||||
| Gross revenues | 28,451 | 27,605 | 111,064 | 109,895 | |||||||||||
| Redistribution fees and rebates | (791 | ) | (833 | ) | (3,182 | ) | (3,237 | ) | |||||||
| Net revenues | 27,660 | 26,772 | 107,882 | 106,658 | |||||||||||
| Transaction-based expenses | (2,157 | ) | (1,330 | ) | (6,649 | ) | (5,524 | ) | |||||||
| Revenues less transaction-based expenses | 25,503 | 25,442 | 101,233 | 101,134 | |||||||||||
| Operating expenses | |||||||||||||||
| Compensation and benefits | 10,160 | 9,460 | 44,123 | 42,467 | |||||||||||
| IT Infrastructure and information services | 2,673 | 2,298 | 10,574 | 10,311 | |||||||||||
| Professional and consulting fees | 1,783 | 3,077 | 6,294 | 8,048 | |||||||||||
| Marketing and advertising | 422 | 315 | 1,368 | 1,194 | |||||||||||
| Occupancy costs | 619 | 591 | 2,369 | 2,360 | |||||||||||
| Depreciation and amortization | 668 | 554 | 2,681 | 2,398 | |||||||||||
| General, administrative and other | 428 | 356 | 1,612 | 1,762 | |||||||||||
| Total operating expenses | 16,753 | 16,651 | 69,021 | 68,540 | |||||||||||
| Income from operations | 8,750 | 8,791 | 32,212 | 32,594 | |||||||||||
| Other income | |||||||||||||||
| Other income | 300 | 274 | 930 | 903 | |||||||||||
| Income before provision for income taxes | 9,050 | 9,065 | 33,142 | 33,497 | |||||||||||
| Provision for income taxes | 1,835 | 2,064 | 5,782 | 5,836 | |||||||||||
| Net Income | $ | 7,215 | $ | 7,001 | $ | 27,360 | $ | 27,661 | |||||||
| Earnings per share | |||||||||||||||
| Basic | $ | 0.61 | $ | 0.59 | $ | 2.29 | $ | 2.32 | |||||||
| Diluted | $ | 0.60 | $ | 0.58 | $ | 2.26 | $ | 2.28 | |||||||
| Basic weighted average shares outstanding | 11,729,845 | 11,669,376 | 11,721,215 | 11,658,694 | |||||||||||
| Diluted weighted average shares outstanding | 11,855,291 | 11,874,331 | 11,840,819 | 11,863,180 | |||||||||||
| Non-GAAP Reconciliation | |||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net Income | $ | 7,215 | $ | 7,001 | $ | 27,360 | $ | 27,661 | |||||||
| Excluding: | |||||||||||||||
| Interest expense (income) | (312 | ) | (312 | ) | (940 | ) | (844 | ) | |||||||
| Provision for income taxes | 1,835 | 2,064 | 5,782 | 5,836 | |||||||||||
| Depreciation and amortization | 668 | 554 | 2,681 | 2,398 | |||||||||||
| Stock-based compensation expense | 1,573 | 1,493 | 6,370 | 5,858 | |||||||||||
| Adjusted EBITDA | $ | 10,979 | $ | 10,800 | $ | 41,253 | $ | 40,909 | |||||||
| Adjusted diluted earnings per share | $ | 0.91 | $ | 0.89 | $ | 3.41 | $ | 3.37 | |||||||
| Note: We use non-GAAP financial measures of operating performance. Non-GAAP measures do not replace and are not superior to the presentation of our GAAP financial results, but are provided to improve overall understanding of the Company's current financial performance. | |||||||||||||||
| OTC MARKETS GROUP INC. | |||||||
| CONSOLIDATED BALANCE SHEETS | |||||||
| (in thousands, except share information) | |||||||
| December 31, | |||||||
| 2024 | 2023 | ||||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 34,522 | $ | 34,101 | |||
| Short-term investments | 4,513 | 3,622 | |||||
| Accounts receivable, net of allowance for credit losses of | 8,097 | 7,680 | |||||
| Prepaid income taxes | 244 | 1,324 | |||||
| Prepaid expenses and other current assets | 2,237 | 1,865 | |||||
| Total current assets | 49,613 | 48,592 | |||||
| Property and equipment, net | 7,096 | 8,429 | |||||
| Operating lease right-of-use assets | 10,951 | 12,324 | |||||
| Deferred tax assets, net | 10,120 | 7,691 | |||||
| Goodwill | 3,984 | 3,984 | |||||
| Intangible assets, net | 6,829 | 7,411 | |||||
| Long-term restricted cash | 1,606 | 1,586 | |||||
| Other assets | 543 | 508 | |||||
| Total Assets | $ | 90,742 | $ | 90,525 | |||
| Liabilities and stockholders' equity | |||||||
| Current liabilities | |||||||
| Accounts payable | $ | 1,175 | $ | 2,152 | |||
| Income taxes payable | 54 | 141 | |||||
| Accrued expenses and other current liabilities | 13,425 | 14,065 | |||||
| Deferred revenue | 29,084 | 29,267 | |||||
| Total current liabilities | 43,738 | 45,625 | |||||
| Income tax reserve | 927 | 778 | |||||
| Operating lease liabilities | 10,360 | 11,895 | |||||
| Total Liabilities | 55,025 | 58,298 | |||||
| Commitments and contingencies | |||||||
| Stockholders' equity | |||||||
| Common stock - par value | |||||||
| Class A - 17,000,000 authorized, 12,815,075 issued, 11,979,165 outstanding at | |||||||
| December 31, 2024; 12,716,135 issued, 11,931,366 outstanding at December 31, 2023 | 128 | 127 | |||||
| Additional paid-in capital | 35,127 | 29,469 | |||||
| Retained earnings | 23,200 | 22,425 | |||||
| Treasury stock - 835,910 shares at December 31, 2024 and 784,769 shares at December 31, 2023 | (22,738 | ) | (19,794 | ) | |||
| Total Stockholders' Equity | 35,717 | 32,227 | |||||
| Total Liabilities and Stockholders' Equity | $ | 90,742 | $ | 90,525 | |||
FAQ
What were OTC Markets Group's (OTCM) key financial metrics for full-year 2024?
How much did OTC Markets Group (OTCM) return to shareholders in 2024?
What new products did OTC Markets Group (OTCM) launch in 2024?
What is OTCID and when will OTC Markets Group (OTCM) launch it?
How did OTC Markets Group's (OTCM) Q4 2024 performance compare to Q4 2023?
