Investor Relations / Financial Information

Financials & Quarterly Results

Detailed quarterly performance, consolidated financial statements, practice segment revenue contribution, and capital liquidity metrics.

Earnings Releases

Quarterly Earnings Materials

Fiscal Year ends December 31

LATEST RELEASE Released October 24, 2024

Q3 2024 Financial Results

Revenue: $51.8M (+31.2% YoY)
Adj. EBITDA: $11.4M (22.0% Margin)
Free Cash Flow: $9.2M
Press Release (PDF) Shareholder Letter Presentation Deck ▶ Webcast Replay
Q2 2024 Released July 25, 2024

Q2 2024 Financial Results

Revenue: $47.5M (+28.1% YoY)
Adj. EBITDA: $10.2M (21.5% Margin)
Free Cash Flow: $8.4M
Press Release (PDF) Shareholder Letter Presentation Deck
Q1 2024 Released April 23, 2024

Q1 2024 Financial Results

Revenue: $43.6M (+26.5% YoY)
Adj. EBITDA: $9.1M (20.9% Margin)
Free Cash Flow: $7.5M
Press Release (PDF) Shareholder Letter Presentation Deck
ANNUAL RESULTS Released February 20, 2024

Full Year 2023 Financial Results & Form 10-K

FY23 Revenue: $152.8M (+27.3% YoY)
Operating Income: $29.6M (19.4% Margin)
Annual FCF: $26.1M
Download 2023 Annual Report Audited Statements

Segment Contribution

Revenue Breakdown by Practice & Market

High diversification across high-value distributed systems practices and North American enterprise centers.

Contribution by Practice Area LTM Q3 2024

Cloud Architecture & Platform Eng. $69.8M (37.9%)
AI & Data Platforms (Streaming / Lakehouses) $53.4M (29.0%)
Core Application Modernization $38.7M (21.0%)
Architecture Advisory & Quality Eng. $22.3M (12.1%)

Geographic Revenue Distribution LTM Q3 2024

North America (US & Canada) $125.3M (68.0%)
EMEA (UK & Western Europe) $40.5M (22.0%)
Asia-Pacific (APAC) $18.4M (10.0%)
140+ active enterprise clients with an average annual engagement value of $1.31M. Zero individual clients represent greater than 8.5% of annual revenue.

Historical Summary

Consolidated Financial Performance

(in USD millions, except percentage metrics)
Financial Metric FY 2021 FY 2022 FY 2023 LTM Q3 2024
Total Consolidated Revenue $94.2 $120.0 $152.8 $184.2
YoY Growth Rate — +27.4% +27.3% +28.4%
Cost of Professional Services ($59.3) ($74.4) ($93.2) ($110.5)
Gross Profit $34.9 $45.6 $59.6 $73.7
Gross Margin % 37.0% 38.0% 39.0% 40.0%
Research & Platform Development ($6.1) ($8.4) ($11.5) ($14.0)
Selling, General & Administrative ($13.2) ($16.1) ($18.5) ($20.3)
Non-GAAP Operating Income (EBIT) $15.6 $21.1 $29.6 $39.4
Non-GAAP Operating Margin % 16.6% 17.6% 19.4% 21.4%
Adjusted EBITDA $17.1 $23.0 $32.1 $42.6
Free Cash Flow (Operating Cash less CapEx) $13.8 $18.9 $26.1 $34.8
Free Cash Flow Conversion (% of EBITDA) 80.7% 82.2% 81.3% 81.7%

Research Coverage

Equity & Industry Research Analysts

The following equity research analysts currently publish independent analysis and coverage reports on AlgoDomain Solutions.

Morgan Stanley Institutional

Marcus Sterling, CFA

Enterprise Software & IT Services

Contact via IR Office

Goldman Sachs Tech Research

Elena Rostova, PhD

Cloud Infrastructure & Applied AI

Contact via IR Office

William Blair Equity Research

David Vance, CPA

Enterprise Modernization & Mid-Market IT

Contact via IR Office

Note: Any opinions, estimates, or forecasts regarding AlgoDomain Solutions made by these analysts are theirs alone and do not represent opinions or forecasts of AlgoDomain or its management.