EarthLabs Reports Results For The Fourth Quarter and Fiscal Year 2024
EarthLabs reported strong revenue growth despite challenges in Q4 2024. The company saw a 172.1% increase in advertising revenue to $1.84M and a 39.9% increase in subscription revenue to $322K compared to Q4 2023.
For the full year 2024, advertising revenue jumped 176.9% to $6.1M, while subscription revenue grew 41.3% to $1.24M. The company ended the year with $39.2M in total cash, equivalents, and investments.
Key financial highlights:
- Net investment loss of $3.67M in Q4 2024
- Net loss reduced to $4.96M ($0.04 per share) from $11.22M in Q4 2023
- Built $3.45M in deferred revenue, showing strong client confidence
- Implementing cost-cutting measures while investing in high-ARR tools
CEO Denis Laviolette emphasized strategic portfolio building and opportunities in the commodities sector, despite development delays and macro headwinds.
EarthLabs ha riportato una forte crescita dei ricavi nonostante le difficoltà nel quarto trimestre del 2024. L'azienda ha registrato un aumento del 172,1% nelle entrate pubblicitarie, raggiungendo 1,84 milioni di dollari, e un incremento del 39,9% nelle entrate da abbonamenti, pari a 322 mila dollari rispetto al quarto trimestre del 2023.
Per l'intero anno 2024, le entrate pubblicitarie sono salite del 176,9% a 6,1 milioni di dollari, mentre quelle da abbonamenti sono cresciute del 41,3% raggiungendo 1,24 milioni di dollari. L'azienda ha chiuso l'anno con un totale di 39,2 milioni di dollari in liquidità, equivalenti e investimenti.
Punti finanziari chiave:
- Perdita netta sugli investimenti di 3,67 milioni di dollari nel quarto trimestre 2024
- Perdita netta ridotta a 4,96 milioni di dollari (0,04 dollari per azione) da 11,22 milioni nel quarto trimestre 2023
- Accumulati 3,45 milioni di dollari in ricavi differiti, a dimostrazione della forte fiducia dei clienti
- Implementazione di misure di riduzione dei costi mantenendo investimenti in strumenti ad alto ARR
Il CEO Denis Laviolette ha sottolineato la costruzione strategica del portafoglio e le opportunità nel settore delle materie prime, nonostante i ritardi nello sviluppo e le difficoltà macroeconomiche.
EarthLabs reportó un fuerte crecimiento en ingresos a pesar de los desafíos en el cuarto trimestre de 2024. La compañía experimentó un aumento del 172,1% en ingresos por publicidad, alcanzando 1,84 millones de dólares, y un incremento del 39,9% en ingresos por suscripciones, con 322 mil dólares en comparación con el cuarto trimestre de 2023.
Para todo el año 2024, los ingresos por publicidad aumentaron un 176,9% hasta 6,1 millones de dólares, mientras que los ingresos por suscripciones crecieron un 41,3% llegando a 1,24 millones de dólares. La empresa cerró el año con un total de 39,2 millones de dólares en efectivo, equivalentes e inversiones.
Puntos financieros clave:
- Pérdida neta por inversiones de 3,67 millones de dólares en el cuarto trimestre de 2024
- Pérdida neta reducida a 4,96 millones de dólares (0,04 dólares por acción) desde 11,22 millones en el cuarto trimestre de 2023
- Generó 3,45 millones de dólares en ingresos diferidos, mostrando fuerte confianza de los clientes
- Implementación de medidas de reducción de costos mientras se invierte en herramientas con alto ARR
El CEO Denis Laviolette destacó la construcción estratégica del portafolio y las oportunidades en el sector de materias primas, a pesar de los retrasos en desarrollo y los vientos macroeconómicos adversos.
EarthLabs는 2024년 4분기 어려움에도 불구하고 강력한 매출 성장을 보고했습니다. 회사는 광고 수익이 전년 동기 대비 172.1% 증가한 184만 달러, 구독 수익은 39.9% 증가한 32만 2천 달러를 기록했습니다.
2024년 전체 매출은 광고 수익이 176.9% 증가한 610만 달러, 구독 수익은 41.3% 증가한 124만 달러를 기록했습니다. 회사는 현금, 현금성 자산 및 투자금 총액 3,920만 달러로 연말을 마감했습니다.
주요 재무 하이라이트:
- 2024년 4분기 순투자 손실 367만 달러
- 순손실은 2023년 4분기 1,122만 달러에서 496만 달러(주당 0.04달러)로 감소
- 3백 45만 달러의 이연 수익을 쌓아 고객 신뢰 강함을 보여줌
- 비용 절감 조치를 시행하면서도 높은 ARR 도구에 투자 중
CEO 데니스 라비올렛은 개발 지연과 거시경제 역풍에도 불구하고 전략적 포트폴리오 구축과 원자재 부문 기회를 강조했습니다.
EarthLabs a rapporté une forte croissance de ses revenus malgré les défis du quatrième trimestre 2024. L'entreprise a enregistré une augmentation de 172,1% des revenus publicitaires à 1,84 million de dollars et une hausse de 39,9% des revenus d'abonnement à 322 000 dollars par rapport au quatrième trimestre 2023.
Pour l'année complète 2024, les revenus publicitaires ont bondi de 176,9% à 6,1 millions de dollars, tandis que les revenus d'abonnement ont augmenté de 41,3% pour atteindre 1,24 million de dollars. L'entreprise a terminé l'année avec un total de 39,2 millions de dollars en liquidités, équivalents et investissements.
Points financiers clés :
- Perte nette sur investissements de 3,67 millions de dollars au quatrième trimestre 2024
- Perte nette réduite à 4,96 millions de dollars (0,04 dollar par action) contre 11,22 millions au quatrième trimestre 2023
- Constitution de 3,45 millions de dollars de revenus différés, témoignant d'une forte confiance des clients
- Mise en œuvre de mesures de réduction des coûts tout en investissant dans des outils à ARR élevé
Le PDG Denis Laviolette a souligné la construction stratégique du portefeuille et les opportunités dans le secteur des matières premières, malgré les retards de développement et les vents contraires macroéconomiques.
EarthLabs meldete trotz Herausforderungen im vierten Quartal 2024 ein starkes Umsatzwachstum. Das Unternehmen verzeichnete einen 172,1%igen Anstieg der Werbeeinnahmen auf 1,84 Mio. USD und einen 39,9%igen Anstieg der Abonnementerlöse auf 322.000 USD im Vergleich zum vierten Quartal 2023.
Für das Gesamtjahr 2024 stiegen die Werbeeinnahmen um 176,9% auf 6,1 Mio. USD, während die Abonnementerlöse um 41,3% auf 1,24 Mio. USD wuchsen. Das Unternehmen schloss das Jahr mit 39,2 Mio. USD an Gesamtliquidität, Äquivalenten und Investitionen ab.
Wichtige finanzielle Highlights:
- Nettoanlageverlust von 3,67 Mio. USD im vierten Quartal 2024
- Nettoverlust auf 4,96 Mio. USD (0,04 USD pro Aktie) reduziert von 11,22 Mio. USD im vierten Quartal 2023
- Aufbau von 3,45 Mio. USD an abgegrenzten Erlösen, was starkes Kundenvertrauen zeigt
- Umsetzung von Kostensenkungsmaßnahmen bei gleichzeitiger Investition in Tools mit hohem ARR
CEO Denis Laviolette betonte den strategischen Portfolioaufbau und Chancen im Rohstoffsektor trotz Entwicklungsverzögerungen und makroökonomischer Gegenwinde.
- 172.1% increase in Q4 2024 advertising revenue to $1.84M vs Q4 2023
- 176.9% increase in FY 2024 advertising revenue to $6.11M vs FY 2023
- 41.3% increase in FY 2024 subscription revenue to $1.24M
- Strong cash position with $39.23M in cash, equivalents and investments
- Net investment gains of $160,441 in FY 2024 vs losses of $2.28M in FY 2023
- Deferred revenue grew to $3.45M, indicating strong future revenue potential
- Reduced net loss to $6.19M in FY 2024 from $16.62M in FY 2023
- Q4 2024 net investment losses of $3.67M vs $1.26M in Q4 2023
- 20.3% decrease in exploration maps sales to $177,763 in FY 2024
- Operating expenses increased 21.2% to $11.34M in FY 2024
- R&D expenses nearly doubled to $3.17M in FY 2024
- Continued net losses despite revenue growth
- Total assets declined to $44.93M from $49.25M year-over-year
- Ended the year with total cash, cash equivalents, and investments of
$39,234,437 ; 172.1% increase in advertising revenue as compared to Q4 2024 with advertising revenue of$6,108,765 for the year ended December 31, 2024 (176.9% increase);39.9% increase in subscriptions revenue as compared to Q4 2024 with subscription revenue of$1,237,035 for the year ended December 31, 2024 (41.3% increase);
Toronto, Ontario--(Newsfile Corp. - April 28, 2025) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) (FSE: 8EK0) ("EarthLabs" or the "Company") is pleased to announce the consolidated financial results for three months and year ended December 31, 2024 of the Company (the "Financial Results").
Highlights for the three-months period ended December 31, 2024:
172.1% increase in Advertising revenue to$1,843,012 as compared to$677,279 for the three months ended December 31, 2023;39.9% increase in Subscriptions revenue to$322,338 as compared to$230,391 for the three months ended December 31, 2023;12.0% increase in Sales of exploration maps to$37,655 as compared to$33,610 for the three months ended December 31, 2023;- Net investment losses of
$3,667,473 from our investment portfolio as compared to$1,263,270 for the three months ended December 31, 2023; - Net loss and comprehensive loss of
$4,959,177 (basic loss per share of$0.04) as compared to net loss and comprehensive loss of$11,220,627 (basic loss per share of$0.08) for the three months ended December 31, 2023.
Highlights for the year ended December 31, 2024:
- Completed the nine-month period with total cash and cash equivalents, due from brokers, investments and equity investments of
$39,234,437 as compared to$42,943,109 as at December 31, 2023; 176.9% increase in Advertising revenue to$6,108,765 as compared to$2,206,523 for the year ended December 31, 2023;41.3% increase in Subscriptions revenue to$1,237,035 as compared to$875,682 for the year ended December 31, 2023;20.3% decrease in Sales of exploration maps to$177,763 as compared to$223,038 for the year ended December 31, 2023;- Net investment gains of
$160,441 from our investment portfolio as compared to net investment losses of$2,277,329 for the year ended December 31, 2023; - Net loss and comprehensive loss of
$6,187,284 (basic loss per share of$0.04) as compared to 16,623,683 (basic loss per share of$0.12) for the year ended December 31, 2023.
"While this quarter brought significant challenges, we're actively reshaping our approach. Our advertising revenue has nearly tripled year-over-year, subscription revenue is up over
Summary of financial results
The following are selected interim condensed consolidated financial results as at and for the three and twelve months ended December 31, 2024, with comparatives:
| Consolidated statements of loss and comprehensive loss highlights | Three months ended December 31, | Twelve months ended December 31, | ||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||
| Advertising revenue | $ | 1,843,012 | $ | 677,279 | $ | 6,108,765 | $ | 2,206,523 | ||||
| Subscriptions revenue | 322,338 | 230,391 | 1,237,035 | 875,682 | ||||||||
| Sales of exploration maps | 37,655 | 33,610 | 177,763 | 223,038 | ||||||||
| Net investment gains (losses) | (3,667,473 | ) | (1,263,270 | ) | 160,441 | (2,277,329 | ) | |||||
| Other income | 180,074 | 167,400 | 755,956 | 902,780 | ||||||||
| Operating, general and administrative | (3,239,686 | ) | (2,256,744 | ) | (11,339,500 | ) | (9,358,659 | ) | ||||
| Research and development expenses | (742,954 | ) | (359,641 | ) | (3,173,710 | ) | (1,605,738 | ) | ||||
| Total expenses | (4,016,968 | ) | (2,622,561 | ) | (14,657,449 | ) | (10,984,404 | ) | ||||
| Loss from equity investment | (325,339 | ) | (16,670 | ) | (355,724 | ) | (107,524 | ) | ||||
| Impairment of goodwill and intangible assets | - | (9,530,129 | ) | - | (9,530,129 | ) | ||||||
| Income tax recovery | 667,524 | 1,187,884 | 385,929 | 2,152,241 | ||||||||
| Net loss and comprehensive loss for the period | (4,959,177 | ) | (11,220,627 | ) | (6,187,284 | ) | (16,623,683 | ) | ||||
| Loss per common share for the period - basic and diluted | (0.04 | ) | (0.08 | ) | (0.04 | ) | (0.12 | ) | ||||
| Consolidated statements of financial position highlights | December 31, 2024 | December 31, 2023 | ||||
| Cash and cash equivalents | $ | 4,122,474 | $ | 5,227,657 | ||
| Due from brokers | 416,907 | 485,949 | ||||
| Accounts receivable, net of expected credit losses | 519,491 | 120,253 | ||||
| Investments, at fair value | 32,912,428 | 35,091,151 | ||||
| Equity investment | 1,782,628 | 2,138,352 | ||||
| Income tax receivable | 268,362 | 854,023 | ||||
| Property, equipment and right-of-use assets | 1,128,713 | 1,252,737 | ||||
| Intangible Assets | 2,826,438 | 3,127,000 | ||||
| Goodwill | 624,290 | 624,290 | ||||
| Total assets | 44,930,710 | 49,251,445 | ||||
| Accounts payable and accrued liabilities | 1,697,947 | 1,287,021 | ||||
| Deferred revenue | 3,452,044 | 1,921,102 | ||||
| Total promissory note | 726,458 | 980,971 | ||||
| Total lease liabilities | 1,031,645 | 1,155,154 | ||||
| Deferred tax liabilities | - | 204,690 | ||||
| Total liabilities | 7,105,575 | 5,589,812 | ||||
| Share capital, contributed surplus, and warrants | 52,575,143 | 52,224,357 | ||||
| Deficit | (14,750,008 | ) | (8,562,724 | ) |
About EarthLabs Inc.
EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) (FSE: 8EK0) is a mining investment, technology, and media company that aims to provide strategic leverage to the metals and mining sector through investments, royalties and a full suite of data-driven media SaaS tools and services including CEO.CA, The Northern Miner, MINING.COM, Canadian Mining Journal and DigiGeoData.
For further information please contact:
Denis Laviolette
Executive Chairman and CEO
EarthLabs Inc.
Tel: 647-345-7720
Email: investors@earthlabs.com
Neither the TSX Venture Exchange ("TSXV"), OTC Best Market ("OTCQX") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, risks detailed from time to time in the Company's filings with securities regulators and available under the Company's profile on SEDAR at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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