INTOUCH INSIGHT ANNOUNCES Q3 2024 FINANCIAL RESULTS

Canada NewsWire

OTTAWA, ON, Nov. 21, 2024

OTTAWA, ON, Nov. 21, 2024 /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 quarter ended September 30, 2024.

Key highlights for Q3 2024

   -- Revenue increased 18% to $6,656,664 compared to $5,634,594 in Q3 2023. 
 
   -- Recurring services revenue increased 23% to $5,761,966 from $4,678,154 
      the prior year Q3. 
 
   -- Gross margin increased to 48.2% from 41.7% in Q2 2024 due to the shift in 
      product mix. 
 
   -- SaaS revenues grew 9% organically. 
 
   -- Operating expenses have grown 7% compared to prior year's Q3 as 
      acquisition integration efforts continue. 
 
   -- Adjusted EBITDA remained positive increasing to $575,889 compared to 
      $296,515 in Q2, 2024 and $509,762 in prior year Q3. 

"Our financials illustrate that Intouch is a growing, profitable and financially self-sufficient business. Sales and marketing efforts are building on our thought leadership and improving brand recognition, particularly in the key target market segments of Quick Serve Restaurants and Petro Convenience, as evidenced by recent mainstage speaking invitations for four industry events," said Cameron Watt, President & Chief Executive Officer of the Company.

"This year will mark the second year in a row with revenues over $25 Million and we expect growth to continue well beyond this level into the future," said Watt.

 
Consolidated Statements of Operations 
                                  Q3 2024      Q3 2023 
 
Revenue                           $ 6,656,664  $ 5,634,594 
Cost of services                    3,445,180    2,719,682 
 
Gross margin                        3,211,484    2,914,912 
 
Total operating expenses            2,844,721    2,656,381 
 
Income from operating activities      366,763      258,531 
Non-operating (expenses) income        87,297     (83,076) 
Income tax recovery (expense)               -            - 
Net income (loss)                   $ 454,060    $ 175,455 
 

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.

View original content: http://www.newswire.ca/en/releases/archive/November2024/21/c3393.html

/CONTACT:

For further information, please contact: Cathy Smith, Chief Financial Officer, csmith@intouchinsight.com, 613-270-7916

Copyright CNW Group 2024 
 

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November 21, 2024 17:30 ET (22:30 GMT)