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Dec 31, 2024
MotiTest Q4 2024 Earnings Report
Pursuit reported an 8.5% increase in Q4 2024 revenue but posted a net loss of $65.1 million from continuing operations.
Key Takeaways
Pursuit's Q4 2024 revenue grew 8.5% year-over-year to $45.8 million, driven by higher attraction ticket sales. However, the company posted a net loss of $65.1 million from continuing operations, which included $41.5 million in impairment charges. Adjusted EBITDA improved to negative $11.2 million, up from negative $12.0 million in Q4 2023. The company completed the strategic sale of GES, bolstering its balance sheet and setting the stage for future expansion.
Revenue increased by 8.5% to $45.8 million.
Net loss from continuing operations widened to $65.1 million.
Adjusted EBITDA improved to negative $11.2 million from negative $12.0 million in Q4 2023.
GES business was sold for $535 million, eliminating high-cost debt and strengthening liquidity.
MotiTest
MotiTest
Forward Guidance
Pursuit expects double-digit revenue growth in 2025, driven by improved leisure travel demand, enhanced guest experiences, and strategic investments.
Positive Outlook
- Recovery of leisure travel demand, particularly in Jasper.
- Incremental EBITDA from three recent acquisitions.
- Continued guest experience enhancements driving revenue growth.
- Focus on revenue and cost management for improved margins.
- New revolving credit facility to support future investments.
Challenges Ahead
- Macroeconomic uncertainty affecting consumer travel spending.
- Potential headwinds from currency exchange fluctuations.
- Ongoing restructuring and impairment charges.
- Increased operating costs due to inflationary pressures.
- Potential adverse weather impacts on seasonal revenue streams.