From GlobeNewswire: 2025-02-26 17:13:00

Kneat.com, inc. reported strong financial results for Q4 2024, with total revenue hitting $13.7 million, a 40% increase year over year. Gross profit rose by 48% to $10.4 million. Annual Recurring Revenue (ARR) reached $59.7 million, up 60% from the previous year. SaaS revenue grew by 41% to $12.5 million in Q4.

In 2024, total revenues for Kneat increased by 43% to $48.9 million compared to 2023. SaaS revenue reached $44.6 million, a 48% increase from the previous year. Gross profit for the year was $36.8 million, a 59% rise from 2023. EBITDA for 2024 was $5.6 million, compared to a loss in 2023.

Throughout 2024, Kneat welcomed five large strategic customers and formalized its partner program, exceeding new partner additions goal. AI tools were used to enhance productivity, with plans to incorporate AI capabilities into the Kneat Gx platform. Kneat was recognized as one of Ireland’s fastest-growing technology companies for the fourth year.

In 2025, Kneat announced partnerships with Capgemini and a European consumer products company to digitize validation processes. The company’s CFO highlighted 2024 as a year of progress towards profitability, with gross profit growing significantly. Kneat is well-positioned to invest in modernizing data-intensive work processes for companies.

Kneat will host a conference call on February 27, 2025, to discuss its financial results. The company uses supplementary financial measures like ARR, SaaS ARR, and NRR to assess performance. EBITDA and Adjusted EBITDA are also used as key performance indicators. Kneat Gx is an industry-leading digital validation platform for highly regulated companies.



Read more at GlobeNewswire:: Kneat Achieves Record Revenue for Fourth Quarter and Full