Fourth Quarter and Full Year 2024 Outlook
The Company has tightened the overall range of its expectations for the full year and is providing its fourth quarter financial guidance as shown in the table below. The Company continues to expect the effective tax rate for the year to be approximately 17% to 19%.
Fourth quarter 2024 interest expense is expected to be approximately $210,000. EPS and adjusted EPS (Non-GAAP)3 at the mid-point of the estimates for the quarter are approximately $0.08 and $0.14, respectively and is based on approximately 12,150,000 weighted average shares. Capital expenditures are expected to continue to be approximately 1% to 2% of revenue.
| (As of November 1, 2024) | Fourth Quarter Guidance | Full Year Guidance |
| Revenue | $34 million to $37 million | $128 million to $131 million |
| Gross margin | Approximately 42% | 42% to 43% |
| Operating expenses | Approximately $13.5 million | Approximately $53 million |
| Intangible asset amort expense | Approximately $0.9 million | Approximately $3.3 million |
| Intangible asset amort exp. After tax | Approximately $0.7 million | Approximately $2.7 million |
The foregoing guidance is based on management's current views with respect to operating and market conditions and customers' forecasts. It also assumes macroeconomic conditions remain unchanged through the end of the year. Actual results may differ materially from what is provided here today as a result of, among other things, the factors described under "Forward-Looking Statements" below. Further information about non-GAAP measures can be found under "Non-GAAP Financial Measures" and the reconciliations of GAAP financial measures to non-GAAP financial measures that accompany this press release.
