AudioEye Q1 revenue $8.1M record, raised FY2024 guidance; net loss narrows to $0.8M

AUDIOEYE INC

2024-Q1 EPS reported -$0.07 revenue$8,083,000

Q1 2024 revenue rose 4% YoY to a record $8.1M; ARR reached $32.0M as of March 31, 2024.
Net loss improved 59% to $0.8M ($0.07 loss per share) from $2.0M ($0.17 loss) a year ago.
Adjusted EBITDA swung to $0.9M ($0.08 EPS) from negative $0.1M ($0.00 EPS) in Q1 2023.
Raises full-year 2024 guidance: revenue $34.3-34.7M, adjusted EBITDA $4.5-5.5M, adjusted EPS $0.38-0.46.
DOJ final rule under ADA Title II expected to drive demand; customer count up 18% to ~112,000.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AUDIOEYE INC reported first quarter ended March 31, 2024 results: revenue $8.1M, net income $0.8M, or $(0.07) per share. Guidance raised.

Period: first quarter ended March 31, 2024
Revenue: $8.1M
Net income: $0.8M, or $(0.07) per share
Guidance: raised
Result: reported results

Exact text from the filing

and we are well positioned to meet the much higher demand expected from the public sector.” First Quarter 2024 Financial Results ● Total revenue increased 4% to a record $8.1M from $7.8M in the same prior year period. ● Gross profit increased to $6.3M (78% of total revenue) from $6.1M (78% of total revenue) in the same prior year period. The

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Source: SEC EDGAR

accession 0001104659-24-050581

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