Quisitive reports $29.9 million in revenue for Q1 2024, with increased gross profit margin

From GlobeNewswire: 2024-05-22 17:11:00

Quisitive Technology Solutions Inc. reported financial results for Q1 2024, showing revenue of $29.9 million, a decline from $31.9 million in Q1 2023. Gross profit margin increased to 42.8%, up from 37.3% in Q1 2023. Adjusted EBITDA was $3.9 million, a growth from $3.3 million in Q1 2023.

Quisitive appointed Dan Kunz as EVP of Microsoft Cloud and AI, completed the sale of PayiQ, announced sale of BankCard USA, and unveiled the upcoming MazikCare copilot. The company was awarded the AI and Machine Learning in Microsoft Azure Specialization, showcasing its leadership in cloud solutions. Quisitive provides FY 2024 guidance with revenue projected at $120-130 million.

The Company will hold a conference call on May 22, 2024 at 5:00 p.m. Eastern time to discuss the results. For those interested, the call can be accessed via toll-free dial-in at 1-877-704-4453 or international dial-in at 1-201-389-0920. Additional financial details and tables for Q1 2024 are available on the Company’s website and SEDAR profile.

Quisitive leverages the Microsoft cloud and AI platform to drive transformative outcomes for customers across industries. The Company focuses on innovation and helping enterprises thrive in the era of AI. For more information, visit www.Quisitive.com or follow @BeQuisitive. Quisitive’s non-GAAP financial measures, including Adjusted EBITDA, provide transparency and a basis of comparison for investors and analysts reviewing the Company’s performance.



Read more at GlobeNewswire:: Quisitive Reports First Quarter 2024 Financial Results