From Nasdaq GlobeNewswire: 2024-05-14 08:30:00

Janover Inc. reported a 17% sequential increase in revenue for Q1 2024 compared to Q4 2023. 18% of the total revenue consisted of recurring revenue, with quarterly revenue per transaction increasing by 10%. The company also announced $3.9 million in cash and cash equivalents as of March 31, 2024, with no material debt on the balance sheet.

Despite market challenges, Janover’s CEO, Blake Janover, announced the company’s focus on larger loan opportunities and products per transaction. With the addition of Groundbreaker and Janover Insurance, they aim to boost recurring and contractual revenue for fiscal 2024. The company’s AI-enabled platform caters to commercial real estate transactions, aiming for scalability and growth.

Financial results for Q1 2024 showed revenue of approximately $411,000, down from $467,000 in Q1 2023. Despite this, revenue per transaction increased by 10%. Sales and marketing expenses increased to approximately $416,000 compared to $294,000 in Q1 2023. The net loss for Q1 2024 was approximately $964,000, with an adjusted EBITDA loss of $837,000.

Janover Inc. is an AI-enabled platform for commercial real estate transactions, aiming to make the process efficient, transparent, and accessible. They connect commercial mortgage borrowers with lenders, including small banks, credit unions, CMBS lenders, SBA lenders, and more. The company focuses on delivering value to customers and shareholders by offering high-margin, recurring revenue products.



Read more at Nasdaq GlobeNewswire:: Janover Reports First Quarter 2024 Financial Results and