OTTAWA, ON, April 3, 2025 /CNW/ - Intouch Insight Ltd, ("Intouch" or "the Company") (TSXV: INX) (OTCQX: INXSF) a leader in customer experience measurement solutions, today announced financial results for the year ended December 31, 2024.
Key highlights for 2024
- Revenue increased 11% to $28,224,202 compared to $25,433,731 in 2023.
- SaaS revenues grew 7% organically, the ninth consecutive year of growth.
- Gross margin decreased to 44.5% from 46.2% in 2023 due to the shift in product mix, including lower margin Ardent revenues.
- EBITDA increased 46% to $2,223,350 from $1,524,275 in 2023.
- Net income has increased to $1,402,792 from a loss of $384,318 in 2023.
- Earnings per share were $0.05 compared to a loss of $0.02 in 2023
"We are pleased with the financial results in 2024 having delivered the strongest year in the company's history with record profits. 82% of our revenues came from the United States and we do not expect to be impacted directly by the current government actions as we operate in the United States through a US corporation," said Cameron Watt, President & Chief Executive Officer of the Company.
"Looking forward we remain committed to sustainable, profitable revenue while ensuring that the organization is able to generate the resources it requires," said Watt.
Consolidated Statements of Operations | |||||||
2024 | 2023 | ||||||
Revenue | $ 28,224,202 | $ 25,433,731 | |||||
Cost of services | 15,656,698 | 13,677,101 | |||||
Gross margin | 12,567,504 | 11,756,630 | |||||
Total operating expenses | 11,632,074 | 11,298,069 | |||||
Income from operating activities | 935,430 | 458,561 | |||||
Non-operating (expenses) income | 1,163,664 | (690,444) | |||||
Income tax recovery (expense) | (696,302) | (152,435) | |||||
Net income (loss) | $ 1,402,792 | $ (384,318) | |||||
About Intouch Insight
Intouch Insight offers a complete portfolio of customer experience management (CEM) products and services that help global brands delight their customers, strengthen brand reputation and improve financial performance. Intouch helps clients collect and centralize data from multiple customer touch points, gives them actionable, real-time insights, and provides them with the tools to continuously improve customer experience. Founded in 1992, Intouch is trusted by over 300 of North America's most-loved brands for their customer experience management, customer survey, mystery shopping, mobile forms, operational and compliance audits, geolocation data capture and event marketing automation solutions. For more information, visit intouchinsight.com.
Certain statements included in this news release contain forward looking statements that are made of the date hereof, which by their nature are necessarily subject to risks and uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such statements reflect the Company's current views with respect to future events, including the acquisition, future revenues and references to the Company's expansion and growth of the business and operations, and are based on information currently available to the Company and on hypotheses which it considers to be reasonable; however, management warns the reader that hypotheses relative to future events which are beyond the control of management could prove to be false, given that they are subject to certain risks and uncertainties. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedar.com. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Intouch Insight Ltd.
For further information, please contact: Cathy Smith, Chief Financial Officer, [email protected], 613-270-7916
