Aeries Technology reported revenues of $72.5 million and net income of $17.3 million for 2024.

From GlobeNewswire: 2024-09-30 16:05:00

Aeries Technology (Nasdaq: AERT) announced financial results for fiscal year 2024, with revenues of $72.5 million, up 37%, and net income of $17.3 million. Adjusted EBITDA was $9.2 million. The company provides professional services and consulting for businesses in transformation mode, focusing on private equity portfolio companies and mid-size businesses. Aeries Technology has over 1,700 professionals specializing in Technology Services, Business Process Management, and Digital Transformation initiatives.

Non-GAAP financial measures used by Aeries Technology include Adjusted EBITDA, defined as net income from operations before interest, income taxes, depreciation, and amortization, adjusted to exclude stock-based compensation and business combination related costs. These measures help evaluate operating performance and make financial decisions. The company believes these measures provide additional information for comparisons and transparency in evaluating the business.

Aeries Technology’s forward-looking statements caution investors on risks, uncertainties, and factors that could affect financial results. The company operates in a competitive environment and rapidly changing landscape, and investors should not solely rely on forward-looking statements as predictions. Aeries Technology will not update or revise forward-looking statements unless required. The company’s financial results for fiscal year 2024 include revenues of $72.5 million, a gross profit of $21.6 million, and net income of $17.3 million. Adjusted EBITDA for the year was $9.2 million. Operating expenses were $18.7 million, and income from operations was $3.0 million.



Read more at GlobeNewswire:: Aeries Technology Reports Results for the Full Fiscal Year