VOXX reports Q4 FY2024 net loss of $21M; sales down 20.8% YoY; Adjusted EBITDA turns negative

VOXX International Corp

Q4 net sales $108.1M (-20.8% YoY); net loss $21.0M ($0.90/share) vs loss $18.1M ($0.75) prior year.
Full-year net sales $468.9M (-12.2%); net loss $40.9M ($1.74/share) vs $27.5M ($1.13).
Q4 Adjusted EBITDA loss $6.4M (vs +$4.1M); full-year loss $3.4M (vs +$9.7M).
Recorded $14.2M intangible impairment; gross margin fell 550bps to 19.9% on higher inventory provisions.
Total debt rose to $73.3M (from $39.2M) due to $42M Seaguard settlement; BioCenturion JV formed.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VOXX International Corp reported the quarter and year ended February 29, 2024 results: revenue $108.1 million.

Period: the quarter and year ended February 29, 2024
Revenue: $108.1 million
Result: reported results

Exact text from the filing

returns, cash flow and our balance sheet.” Fiscal 2024 and Fiscal 2023 Fourth Quarter Comparisons Net sales in the Fiscal 2024 fourth quarter ended February 29, 2024, were $108.1 million as compared to $136.5 million in the Fiscal 2023 fourth quarter ended February 28, 2023, a decrease of $28.4 million or 20.8%. • Automotive Electronics segment net sales in the

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Source: SEC EDGAR

accession 0000950170-24-061518

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