Kits Eyecare (TSX: KITS) has released preliminary data on its first quarter results this morning, indicating that it continues to see substantial growth on a year over year basis.
Revenue in the first quarter is said to have grown to $46.6 million, a 34% improvement over the $34.8 million in revenue reported in the first quarter of 2024.
Adjusted EBITDA meanwhile is said to have hit record levels, and is expected to have exceeded 7.0% of revenue. The figure implies Adjusted EBITDA of approximately $3.3 million, which compares to the year ago period that posted just $0.6 million in Adjusted EBITDA for the quarter. The company had previously guided to Adjusted EBITDA in a range of 6% to 8% of revenue.
The company meanwhile is reporting that it ended the quarter with $17.5 million in cash on hand.
Full financial results for Q1 are scheduled to be released in early May.
Kits Eyecare last traded at $10.47 on the TSX.
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