Route1 Inc. Reports Q3 2024 Financial Results

Route1 Inc., a North American firm specializing in data-centric business solutions, has released its financial results for Q3 2024. The company's total revenue decreased slightly to CAD 3.71 million compared to CAD 4.52 million in Q3 2023. Notably, subscription and services revenue was CAD 1.42 million, while revenues from devices and appliances stood at CAD 2.30 million, marking a decrease from previous quarters.

Gross profit reached CAD 1.33 million, down from CAD 1.53 million year-over-year, while operating expenses were CAD 1.42 million. Consequently, the company recorded an operating loss of CAD 87,000 and a net loss of CAD 283,000. Adjusted EBITDA for the quarter was positive at CAD 147,000.

Route1's CEO, Tony Busseri, noted a steady operational performance with improvements in cash flow. Total current assets decreased to CAD 3.10 million, with total liabilities at CAD 8.59 million.