Improvement in Adjusted EBITDA
Adjusted EBITDA loss during the quarter improved substantially to $2.9 million from losses of $6.4 million in Q1, $9.3 million in Q2, and $5 million in Q3.
Gross Margin Expansion
Gross margin expanded by 25 percentage points year-over-year.
Increase in Registered Members
Registered members reached 7.5 million, up 42% year-over-year.
Insurance Revenue Growth
Insurance revenue grew by 40% to $8.2 million in 2024, now accounting for a double-digit share of total revenue.
Wealth Revenue Surge
Wealth revenue surged by 138% to $8.5 million in 2024, driven by deepening banking relationships and robust demand for investment products.
Cost Reduction and Efficiency
Operating expenses decreased with employee-related expenses decreasing by approximately 45% year-over-year.
Strong Cash Position
The company maintains a debt-free balance sheet with $42.5 million in cash.