The following is a summary of the Creative Realities, Inc. (CREX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Creative Realities reported Q1 2024 revenue of $12.3 million, a 23.5% increase from the same period last year.

• Gross profit of $5.8 million represents an increase from the $5.1 million reported in Q1 2023.

• The company saw a decrease in Adjusted EBITDA to $0.8 million from the $1 million of Q1 2023.

• The Annual Recurring Revenue for 2024 was raised to a run rate of $17.7 million, a gain of $1.4 million from the previous year.

Business Progress:

• Creative Realities plans a record-breaking year while expanding their sales funnel.

• The ARR guidance for 2024 was raised from $18 million to $20 million.

• A $20 million senior revolving credit facility commitment has been secured, with an additional $5 million accordion feature.

• Major customer acquisitions and broadened existing customer relationships were reported across various sectors.

• The company is seeing accelerating adoption of its drive-thru solution for quick-serve restaurants.

• Administrative expenses have risen, given the investments into ERP applications, additional sales staff, and channel growth.

• Even though the backlog has slightly reduced, it remains considerably significant. The company is exploring potential acquisitions, utilizing its expanded capacity to transform the brand into a leader in digital signage solutions.

More details: Creative Realities IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.