Moatable, Inc. ( (MTBLY) ) has released its Q4 earnings. Here is a breakdown of the information Moatable, Inc. presented to its investors.
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Moatable, Inc. is a US-based SaaS company that operates two businesses, Lofty and Trucker Path, and trades on the OTC Pink market under the symbol MTBLY.
In its latest earnings report, Moatable, Inc. announced significant financial growth for the fiscal year 2024, showcasing a substantial increase in revenue and improvements in profitability metrics.
The company reported a 27% increase in revenue for Q4 2024 compared to the same period in 2023, reaching $17.5 million. For the entire fiscal year, revenue rose by 22% to $63.5 million. Gross profit also saw a rise, with a 23% increase in Q4 and an 18% increase for the year. Notably, the loss from operations improved by 95% in Q4 and 75% for the year, while adjusted EBITDA showed a significant turnaround from a loss in 2023 to a profit of $1.7 million in 2024.
Despite a decrease in total cash and cash equivalents from $39.0 million in 2023 to $31.9 million in 2024, the company highlighted its continued revenue growth over twelve consecutive quarters and positive operating cash flows in the last three quarters of 2024.
Looking forward, Moatable, Inc. remains committed to enhancing productivity and maintaining its path to profitability, as indicated by the company’s management. The focus will likely continue on sustaining revenue growth and improving operational efficiencies.