The following is a summary of the Creative Realities, Inc. (CREX) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Creative Realities Inc. reported record Q4 2023 revenue of $14.5 million, gross profit of $7.5 million, and adjusted EBITDA of $2.8 million.

• Posted a record annual revenue of $45.2 million, gross profit of $22.2 million, and adjusted EBITDA of $5.1 million in FY 2023.

• For the first time, the company reported a positive result on an annual basis with an operating income of $1.3 million.

• The Annual Recurring Revenue (ARR) grew to a record $16.3 million by the end of 2023, standing at a record high of $17.7 million midway through March.

• The company had outstanding principal debt of about $15.1 million as of December 31, 2023, and a net debt of around $12.2 million.

Business Progress:

• Creative Realities expects growth in 2024 and beyond, raising its 2024 guidance for exit run rate ARR for SaaS-based subscription license revenue from $18 million to $20 million.

• There are plans for reducing company debt and focusing on profitability and free cash flow.

• Plans for continuous investment in platforms and exploration for potential future acquisitions were announced.

• Due to customer acquisition in 2022 and 2023, no single customer exceeded 10% of the company's revenue in 2023.

• The company began a channel program, targeting to quickly reach 1,000 licenses to generate additional SaaS revenue, and is transitioning to a comprehensive, company-wide ERP solution. It also anticipates rapid sales growth in their drive-thru product.

More details: Creative Realities IR

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