Asure Q3 2024 Earnings Report
Key Takeaways
Asure reported third-quarter revenue of $29.3 million, with recurring revenue up 20% year-over-year, representing 98% of total revenue. The company's net loss was $3.9 million. New bookings increased by 141% year-over-year, and backlog grew significantly, over 35% from Q2 2024 and over 250% from Q3 2023.
Revenue remained nearly unchanged at $29.3 million compared to the same period last year.
Recurring revenue increased by 20% year-over-year, reaching $28.6 million and constituting 98% of total revenue.
The company experienced a net loss of $3.9 million, compared to a net loss of $2.2 million in the same period last year.
New bookings were up 141% year-over-year, and backlog grew significantly, over 35% from Q2 2024 and over 250% from Q3 2023.
Asure
Asure
Asure Revenue by Segment
Forward Guidance
The Company is providing the following guidance for the fourth quarter 2024 based on the Company’s year-to-date results and recent business trends. Management is initiating full year 2025 guidance to a range of $134M–$138M, which does not include revenue from potential future acquisitions.
Positive Outlook
- Q4 2024 Revenue: $30M–32M
- FY 2024 Revenue: $119M–121M
- Q4 2024 Adjusted EBITDA: $6M–7M
- FY 2024 Adjusted EBITDA: 18%-19%
- FY 2025 Revenue: $134M–138M
Revenue & Expenses
Visualization of income flow from segment revenue to net income