Aeries Technology(AERT) - 2024 Q3 - Quartetly Results

Financial Performance - Revenues for the third fiscal quarter of 2024 were $18.9 million, up 49$12.7 million for the same period in 2023[2] - Income from operations for the third fiscal quarter of 2024 was $0.7 million, up 150$0.3 million in the third fiscal quarter of 2023[3] - Net loss for the third fiscal quarter of 2024 was $(16.3) million, compared to$(0.3) million for the same period in 2023, including a $16.4 million non-cash charge related to Forward Purchase Agreements[3] - Adjusted EBITDA for the third fiscal quarter of 2024 was$2.4 million, consistent with $2.4 million for the same period in 2023[4] - Gross profit for the third fiscal quarter of 2024 was$6.0 million, with a gross margin of 32%, compared to a gross margin of 18% in the same quarter of 2023[15] - Operating margin for the third fiscal quarter of 2024 was 4%, up from 2% in the same quarter of 2023[15] Future Guidance - The company is guiding for 2024 revenues between $95 million and$105 million, and adjusted EBITDA between $16 million and$20 million[5] Cash Position - Cash at the end of the period was $6.5 million, up from$1.6 million at the end of the same period in 2022[19] - The company reported a net cash provided by financing activities of $6.5 million for the nine months ended December 31, 2023[19] Workforce - Aeries Technology has over 1,600 professionals specializing in various services aimed at driving business success[8]