Revenue Growth
Fourth quarter revenue increased by 15% to $200.8 million compared to $174.7 million in 2023.
Operating Income Improvement
Operating income increased to $11.6 million in Q4 2024, compared to an operating loss of $3.3 million in Q4 2023.
Adjusted EBITDA Surge
Adjusted EBITDA from continuing operations was $24.0 million, marking a 55% year-over-year increase in Q4 2024.
Bookings and Backlog Growth
Bookings increased by 39% to approximately $900 million in 2024, and backlog increased by 47% to over $540 million.
Strategic Divestitures
Completed sale of SPIG and GMAB businesses for $33.4 million to improve the balance sheet.
BrightLoop Project Funding
Announced $10 million funding for BrightLoop hydrogen production and carbon capture facility in West Virginia.