Armada Data Reports Growth Amid Market Challenges

Armada Data (TSE:ARD) has released an update.

Armada Data Corporation has reported a rise in Q3 2024 revenues to $573,438, up 5% from the previous year, alongside an increase in comprehensive income to $25,808, recovering from a loss in the same quarter of 2023. The growth is attributed to cost-cutting measures and increased revenues in both the CarCostCanada and IT divisions, despite challenges from continued new vehicle supply constraints. The company anticipates further growth as vehicle inventories normalize and new revenue-generating products are introduced.

For further insights into TSE:ARD stock, check out TipRanks’ Stock Analysis page.