The following is a summary of the Rubicon Technologies, Inc. (RBT) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Rubicon Technologies reported Q4 2023 revenue of $170.7 million, a 2.8% increase compared to Q4 2022.

• Adjusted gross profit increased by 36.5% to $18.3 million, driving the gross profit margin expansion to 10.7%.

• Adjusted EBITDA improved by $17 million year-over-year to a loss of $437,000.

• For the full year, the company reported revenue of $697.6 million, up by 3.3% compared with 2022, and an adjusted gross profit of $72.2 Million, up by 35.5%.

• There was a significant reduction in the annualized expense by $55 million in 2023.

Business Progress:

• Rubicon diverted over 1.6 million tons of materials from landfills in 2023, which is equivalent to approximately 2.1 million metric tons of CO2 emissions avoided.

• There was an accelerated growth of their high-margin SaaS offerings, with ongoing optimization efforts planned for 2024.

• New multi-year agreements were secured with key commercial clients including Neiman Marcus and Vail Properties, and extensions of existing contracts with companies like Gap, Goodyear Tires, and Americold.

• The company hosted its second annual Next Summit, a platform for industry leaders to engage with Rubicon's technological developments.

More details: Rubicon Technologies IR

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