Earnings1Q24 results missed consensus on revenue, adjusted EBITDA, and EPS, partly due to a dropoff in breakage revenue from a large expiring prepaid program.
Gross ProfitGross profit Q1/24 was $4.2 million, versus $4.9 million in Q1/23, with a 220-bps decline in gross margins to 20.7%.
RevenueRevenues of $20.3 million were down 5% versus $21.4 million in Q1/23.