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on Armada Data Corporation (isin : CA0420841037)

Armada Releases Annual Results

MISSISSAUGA, ON / ACCESSWIRE / September 27, 2024 / Armada Data Corporation (TSXV:ARD) has disclosed its annual financial results for the year ended May 31, 2024. The full report is available on SEDAR+ and the company’s website.

The company saw a 3% increase in total revenue, reaching $2,219,749 in 2024. Despite this, Armada reported a comprehensive loss of $12,153, attributing it to the constrained supply of new vehicles and decreased insurance claims processing.

On the operational side, the CarCostCanada division experienced a 16% increase in revenue, and the Information Technology division saw a 13% rise. However, the Insurance Services division's revenue dropped by 4%.

Noteworthy is an acquisition agreement with 1498798 B.C. Ltd., where key figures Matthews and Oszlak plan to acquire all outstanding common shares at a price of $0.04 per share. The transaction is expected to close by the end of October 2024, pending shareholder approval.

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