Aeries Technology(AERT) - 2024 Q4 - Annual Results

Revenue Performance - North America revenue increased by 13.1% year-over-year, with total revenues for Q3 2025 at $17.6 million, down 6.8$18.9 million in Q3 2024[1][3] - For the three months ended December 31, 2024, net revenue was $17,607 million, a decrease of 6.8$18,897 million in the same period of 2023[18] - Revenue from North America for the three months ended December 31, 2024, was $16,430 million, an increase of 12.9$14,533 million in 2023[26] Profitability Metrics - Core adjusted EBITDA for Q3 2025 was $1.5 million, a significant improvement from$(0.02) million in Q3 2024[1][4] - Adjusted EBITDA for Q3 2025 was $(2.0) million, down from$2.4 million in Q3 2024[1][4] - The net loss attributable to shareholders of Aeries Technology Inc. for the three months ended December 31, 2024, was $3,053 million, compared to a loss of$16,411 million in the same period of 2023[18] - Adjusted EBITDA for the nine months ended December 31, 2024, was $(3,931) million, compared to$8,200 million in 2023, indicating a significant decline[24] - The adjusted EBITDA margin for the three months ended December 31, 2024, was (11.6)%, compared to 12.5% in the same period of 2023[24] Financial Guidance - The company is reiterating its fiscal year 2025 revenue guidance of $71 million to$73 million and introducing a fiscal year 2026 outlook of $74 million to$80 million[1][5] Operating Expenses and Cash Flow - Operating expenses increased significantly to $37,299 million for the nine months ended December 31, 2024, compared to$12,321 million in 2023, reflecting a rise of 202.5%[18] - The company reported a net cash used in operating activities of $(1,873) million for the nine months ended December 31, 2024, compared to a net cash provided of$25 million in 2023[20] - Cash and cash equivalents at the end of the period were $2,386 million, down from$6,543 million at the end of the same period in 2023[20] - The company incurred stock-based compensation expenses of $12,746 million for the nine months ended December 31, 2024, compared to$1,626 million in 2023[20] Company Strategy and Workforce - Aeries Technology aims to focus on core business services provided to private equity-backed companies in North America, moving away from non-core markets[1][9] - The company has over 1,800 professionals and has received the Great Place to Work Certification for two consecutive years[1][7] Asset and Liability Overview - Total assets as of December 31, 2024, were $50.681 million, an increase from$49.407 million as of March 31, 2024[1][14] - Total liabilities decreased to $50.022 million as of December 31, 2024, from$50.587 million as of March 31, 2024[1][14] Market Presence - The company plans to strengthen its presence in the North American market and capitalize on new opportunities for sustained success[1][2]