Speedemissions, Inc. announced the winners of its Project Planet Young Entrepreneur competition, awarding $100,000 grants to two students with innovative environmental solutions. The company aims to support the next generation of eco-conscious entrepreneurs through mentoring and resources.
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Speedemissions, Inc. (SPMI) reported its financial results for Q4 and full year 2022, marking its sixteenth consecutive quarter of positive EBITDA. Revenue rose by 13.2% to approximately $3.8 million for the year, despite the closure and acquisition of stations. Q4 revenue increased by $76,000 to $940,000, supported by 9.5% growth in Atlanta stores. However, operating expenses and general administrative costs also increased by 5.7% and 11.2%, respectively. The company posted net income of $90,000 in Q4, up $26,000 from the prior year, and $392,000 for the year, reflecting an adjusted net income growth of 23.1%.
Speedemissions, Inc. (SPMI) reported a 14.7% year-to-date increase in same-store sales and a net income of $292,700 for the nine months ended September 30, 2022. Revenue rose to approximately $2.86 million, driven by a 14.7% increase in sales across its locations. However, net income for the third quarter fell to $13,000, down $117,000 year-over-year, influenced by higher operational and administrative costs. The company is exploring opportunities for margin expansion and profitability enhancement.
Speedemissions, Inc. (OTC Markets Expert Market: SPMI) reported a net income increase of over 66% for the fourth quarter of 2021, attaining approximately $91,000, marking a 13.75% growth year over year. The company generated revenue of approximately $864,000, a 12.3% increase in same-store sales in Atlanta, and a 67.6% rise in St. Louis. Total annual revenue reached $3,359,000, a 2.4% increase. This marks the company’s twelfth consecutive quarter of positive EBITDA, demonstrating solid operational progress and a commitment to potential revenue diversification.
Speedemissions, Inc. (SPMI) announced its third-quarter financial results for 2021, showing a revenue increase of $30,000 to $901,000 compared to the same quarter in 2020. This growth is attributed to a 4% rise in same-store sales across Atlanta and St. Louis. Net income rose to $217,000, influenced by $88,000 in other income from account adjustments. Year-to-date revenues slightly declined by 0.6% to $2,496,000 due to a store closure. However, general and administrative expenses decreased by 9%, contributing to reduced overall expenses by 13.5% compared to the previous year.