Q2 2024 Terago Inc Earnings Call Transcript
Key Points
- Revenue, ARPU, and gross margin have increased, contributing to adjusted EBITDA growth.
- The company has generated a cumulative positive cash flow from operations of $4.2 million over the past four quarters.
- Churn bookings are significantly lower due to effective churn strategy initiatives.
- ISED's announcement ensures TeraGo retains and renews its millimeter wave spectrum licenses, providing certainty for future operations.
- Adjusted EBITDA increased by 88% compared to the same period last year, indicating improved profitability.
- Net loss for Q2 2024 was $3.2 million, despite improvements, indicating ongoing financial challenges.
- Higher interest costs on the debt facility partially offset the benefits of reduced operating expenses.
- Total revenue growth was modest, increasing only slightly from $6.5 million to $6.6 million year-over-year.
- The company still faces challenges in accelerating revenue growth despite strategic initiatives.
- Cash and cash equivalents at the end of Q2 2024 were $3.6 million, which may limit flexibility for future investments.
(Operator Instructions)
Good morning, ladies and gentlemen. Welcome to TERAGO's second-quarter 2024 financial results conference call. (Operator Instructions) I would like to remind everyone that this conference call is being recorded.
TERAGO would like to remind listeners that the company's remarks and answers to your questions today may contain forward-looking statements that are based upon management's current expectations. All such statements are made pursuant to the Safe Harbor provisions of and are intended to be forward-looking statements under applicable Canadian securities legislation.
When relying on forward-looking statements to make decisions with respect to the company, you should carefully consider the risks set forth in the Risk Factors section in the 2023 annual MD&A, which is available on www.sedar.com, and also consider other uncertainties and potential events. Except as may be required by Canadian securities laws, the company does not undertake any obligation to update any forward-looking
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