The following is a summary of the Creative Realities, Inc. (CREX) Q1 2024 Earnings Call Transcript:
Financial Performance:
Creative Realities reported Q1 2024 revenue of $12.3 million, a 23.5% increase from the same period last year.
Gross profit of $5.8 million represents an increase from the $5.1 million reported in Q1 2023.
The company saw a decrease in Adjusted EBITDA to $0.8 million from the $1 million of Q1 2023.
The Annual Recurring Revenue for 2024 was raised to a run rate of $17.7 million, a gain of $1.4 million from the previous year.
Business Progress:
Creative Realities plans a record-breaking year while expanding their sales funnel.
The ARR guidance for 2024 was raised from $18 million to $20 million.
A $20 million senior revolving credit facility commitment has been secured, with an additional $5 million accordion feature.
Major customer acquisitions and broadened existing customer relationships were reported across various sectors.
The company is seeing accelerating adoption of its drive-thru solution for quick-serve restaurants.
Administrative expenses have risen, given the investments into ERP applications, additional sales staff, and channel growth.
Even though the backlog has slightly reduced, it remains considerably significant. The company is exploring potential acquisitions, utilizing its expanded capacity to transform the brand into a leader in digital signage solutions.
More details: Creative Realities IR
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