Kits Eyecare (TSX: KITS) has released preliminary results for the fourth quarter as well as the full year of 2024. The results are highlighted by topline revenue growth of 32% on a year over year basis.
Total revenue for the fourth quarter is reported as being $44.8 million, marking a 42% improvement on a year over year basis. Glasses revenue is said to have been a key aspect of this growth, with the segment seeing 60% growth on a year over year basis.
Adjusted EBITDA also improved in Q4, with Kits indicating that it exceeded 6% of revenue while not providing an actual dollar figure. At 6%, Adjusted EBITDA would be approximately $2.7 million.
The company is said to have ended the quarter with $19.3 million in cash, versus $19.1 million in cash as of the end of the third quarter.
For the full fiscal year, revenue grew 32% to $159.3 million. Adjusted EBITDA is said to have exceeded 4% of revenue on a full year basis, with the company again electing to not provide a dollar figure. At 4%, this figure is estimated at roughly $6.4 million.
Full financial results are slated to be released in early March.
Kits Eyecare last traded at $7.90 on the TSX.
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