First Profit for Equity Holders in Three Years
Aimia reported its first profit for equity holders in three years, along with measurable growth in adjusted EBITDA and cash flow from operations, despite challenging macroeconomic conditions.
Improvement in Key Financial Metrics
SG&A expenses declined by 11% to $26.3 million, operating income grew by 37% to $7.8 million, and adjusted EBITDA increased by 35% to $20.3 million.
Increased Cash Position
Aimia ended Q3 with $106.5 million of cash, up from $70.5 million at the end of Q2, driven by a $29.3 million refund from the CRA and $15.1 million of net cash flow from operations.
Reduction in Holdco Costs
Significant reduction in holdco costs, including the absence of shareholder activism costs and lower audit and professional fees, contributing to overall financial improvement.