TeraGo Inc. (TSE:TGO) has released an update.
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TeraGo Inc. maintains steady revenues at $6.5M in Q1 2024, while achieving an increase in Adjusted EBITDA to $930K, despite a rise in net loss to $3.5M attributed to higher interest costs and restructuring. The company’s focus on efficient growth and cost optimization is underscored by a reduction in debt usage by $10M and enhanced cash flow from operations. Despite a decrease in backlog MRR, TeraGo reports an improved ARPU in its connectivity business, indicating a shift towards profitable revenue generation.
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