TIA
EPS of $0.04 matched estimates and revenues of $16.78M beat estimates of $16.73M. Sales of $16.8M grew 18% year-over-year and its SaaS ARR rose by an impressive 26%. Its Adjusted EBITDA margin was 26% and its backlog grew by 12% quarter-over-quarter. It paid down $4M of debt, and the CEO feels confident in growing with leverage, especially in the second half of 2024. In the quarter, it generated good free cash flow, and used just under half of this free cash to pay down debt. It was a decent quarter, but the company will need to see a continuation in improved results before momentum returns to the name.