Q4 2023 Fadel Partners Inc Earnings Call Transcript
Key Points
- Fadel Partners Inc (LSE:FADL) reported a 31% increase in recurring revenue, highlighting strong customer retention and expansion.
- The company successfully introduced new product offerings such as LicenSee, enhancing its portfolio and addressing mid-market needs.
- Significant new client wins including major global customers like PepsiCo and Sanofi, demonstrating the effectiveness of its sales and marketing strategies.
- Expansion into new sectors such as educational publishing, showing adaptability and potential for growth in new markets.
- Strong focus on innovation with multiple new product releases and enhancements planned, keeping the company competitive and relevant in its industry.
- Fadel Partners Inc (LSE:FADL) experienced a 31% decline in service revenue, reflecting challenges in project implementation and delays.
- The company reported an EBITDA loss of $2 million in 2023, indicating ongoing challenges in achieving profitability.
- Despite revenue growth, there was a notable increase in SG&A expenses by 24%, impacting the overall financial health.
- The company had to reduce its 2024 revenue forecast from $17.6 million down to $16.25 million, adjusting expectations due to slower than anticipated growth.
- Fadel Partners Inc (LSE:FADL) faces challenges in revenue recognition timing due to the shift towards a SaaS model, potentially affecting short-term financial reporting.
Good morning, everybody, and thank you for joining us for Fadel's 2023 Results Presentation. I am Tarek Fadel. I'm joined with Ian Flaherty, our Chief Financial Officer. Next slide please. Just as a of way of background, I'm the founder and CEO of the company. I've got 29 years of enterprise technology experience, particularly in the business-to-business software sector, 6 years of those were spent at Oracle in both product management as well as professional services and business development roles. A technical degree and the business degree by way of background and I've been the founder and CEO of the company for a little over 20 years now.
Hi, everyone, Ian Flaherty. I recently joined Fadel in February, a couple of months back. I'm a New York license CPA, previously held the role of CFO with LogicManager Inc. For the better part of the last decade, I've spent time in various financial management roles in a variety of SaaS and
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