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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