RDE, INC. Gross Margins Increased
Cash Balance of
Key Financial Highlights for the Three Months Ended
- Revenue of
$21.5 million - Gross profit of
$3.3 million - Gross margin increased 300 basis points to 15.1%
- Net loss of
$3.2 million (Of note, net loss for the three months endedMarch 31, 2024 included$2.5 million in non-cash and one-time expenses, including$1.1 million in stock option and other non-cash compensation,$0.6 million in amortization of intangible assets,$0.2 million in interest expense,$0.4 million in amortization of capitalized software costs and$0.2 million in fair value of common stock issued for services) - Modified EBITDA loss of
$0.7 million - Cash balance of
$5.4 million - Total assets of
$39.1 million - Shareholders’ equity of
$25.1 million
Key Recent Business Highlights
- CardCash.com surpasses 1,100 retailers in their network, including major brands like Target, Home Depot, Starbucks, and TJ Maxx
Restaurant.com launched an all-new mobile app for the iOS system designed to elevate the dining experience for users and provide seamless access to their Restaurant Deals
Modified EBITDA is a non-GAAP financial measure. Please see the discussion below under the heading “Non-GAAP Financial Measures and Key Metrics” and the reconciliations at the end of this release for additional information concerning this and other non-GAAP financial measures.
Management Commentary
Thakker, continued, “The combination with CardCash.com is transformational and we look forward to the cross-selling marketing opportunities and new growth prospects to drive our expected increase in revenue over the remainder of 2024 and into 2025. Our strong balance sheet, led by
About
For more information, visit: www.rdeholdings.com and https://www.restaurant.com and www.cardcash.com.
Forward-Looking Statements
Press Releases may include forward-looking statements. In particular, the words “believe,” “may,” “could,” “should,” “expect,” “anticipate,” “estimate,” “project," "propose," "plan," "intend," and similar conditional words and expressions are intended to identify forward-looking statements. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Accordingly, you should not place undue reliance on these forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The company takes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the company. Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although
Non-GAAP Financial Measures and Key Metrics
The Company has provided in this release Modified EBITDA, a non-GAAP financial measure, to supplement the consolidated financial statements, which are prepared in accordance with generally accepted accounting principles in
Management uses Modified EBITDA internally in analyzing the Company’s financial results to assess operational performance and to determine the Company’s future capital requirements. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. The Company believes that both management and investors benefit from referring to Modified EBITDA in assessing its performance and when planning, forecasting and analyzing future periods. The Company believes Modified EBITDA is useful to investors and others to understand and evaluate the Company’s operating results and it allows for a more meaningful comparison between the Company’s performance and that of competitors. Our use of Modified EBITDA has limitations as an analytical tool, and you should not consider this performance measure in isolation from or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are that Modified EBITDA does not reflect, among other things: cash capital expenditures for assets underlying depreciation and amortization expense that may need to be replaced or for new capital expenditures; net loss from discontinued operations; interest income, net; other expense, net; income tax expense from continuing operations; our working capital requirements; the potentially dilutive impact of stock-based compensation; and the provision for income taxes. Other companies, including companies in our industry, may calculate Modified EBITDA differently, which reduces its usefulness as a comparative measure.
Because of these limitations, you should consider Modified EBITDA along with other financial performance measures, including total revenues, subscription revenue, deferred revenue, net loss, cash and cash equivalents, restricted cash, net cash used in operating activities and our financial results presented in accordance with GAAP.
Investors Contacts:
ClearThink
nyc@clearthink.capital
2024 GlobeNewswire, Inc., source
