HealthTech Vertical Sale Deleveraging
Successfully sold the HealthTech vertical, doubling its EBITDA since acquisition in 2019, as a first step in deleveraging the balance sheet.
Positive Adjusted EBITDA
Service segment delivered positive adjusted EBITDA even in a tough economic environment, benefiting from cost-cutting initiatives.
Revenue Growth
Revenue for Q1 2024 was $9.5 million, an increase of $0.8 million or 9% compared to the prior period, driven by the eLearning perpetual license sale.
Operating Expense Reduction
Operating expenses decreased by $0.3 million or 6% compared to the prior period, due to a reduction in employee and contractor costs.
Improved Adjusted EBITDA
Adjusted EBITDA increased to $2.3 million from $0.6 million in the comparative period, due to higher revenue and decreased operating expenses.