Strong Revenue Growth
Q3 revenues were $62 million, up 8% from the previous year, excluding divested automation unit results. The Americas region led with an 11% increase, and Europe saw a 7% growth.
Increased Profitability
Adjusted EBITDA rose 19% to $8.4 million, with a margin increase of 200 basis points to 13.5%. Net income for the quarter was $3.1 million, or $0.06 per share, up from $1.1 million, or $0.02 per share, the previous year.
AI-Driven Growth
AI-related revenue quadrupled to $20 million compared to last year, with 350 clients supported in AI-related services, marking over a 200% increase.
Strong Cash Flow
Generated $11 million in cash from operations for the quarter, with a total of $23 million over the last two quarters.
Successful Client Engagements
Engagements with major clients like Lockheed Martin and Carnival Cruise Lines, with significant projects in Europe and the Americas.
AI Impact Summit Success
The AI Impact Summit in London was the largest client event in the company's history, highlighting the strong market interest in AI insights.