The following is a summary of the AudioEye, Inc. (AEYE) Q3 2024 Earnings Call Transcript:

Financial Performance:

• AudioEye reported Q3 2024 revenue of $8.93 million, a 14% year-over-year increase, and sequential growth from $8.47 million in Q2 2024.

• Adjusted EBITDA for Q3 2024 was $1.6 million, compared to $1 million in Q2 2024 and negative $200,000 in Q3 of last year.

• Gross margin increased to 80%, with a $1.1 million increase in revenue year-over-year accompanied by only marginal increases in the cost of goods sold.

• Net loss for Q3 2024 improved to $1.2 million, down from $1.4 million in the same period last year.

Business Progress:

• AudioEye expanded partnerships with Finalsite and CivicPlus aimed at penetrating their customer bases over the next three years.

• Acquired ADA Site Compliance, immediately accretive to financials, expanding services in compliance solutions.

• Launched Accessibility Protection Status and the Accessibility Testing Software Kit (SDK).

• Achieved HIPAA compliance and SOC 2 Type 2 certification, enhancing their credibility in sectors with stringent data security demands.

Opportunities:

• The expansion of partnerships and acquisitions are expected to substantially increase revenues over the next three years.

• AudioEye's continuous investment in innovative products like the Accessibility Protection Status and Accessibility Testing Software, and certifications such as HIPAA compliance and SOC 2 Type 2, cater to growing demands across various compliance-sensitive sectors.

Risks:

• Given the integration of ADA Site Compliance and scaling the partnerships with Finalsite and CivicPlus, there is a potential risk in managing these integrations and achieving the forecasted penetration successfully.

More details: AudioEye 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.