$AEYE reports record financial results, with 28th consecutive period of record revenue.
Mar 9th 2023, 9:12 pm
Analyst Summary: AudioEye, an industry-leading SaaS accessibility platform that delivers website accessibility compliance to businesses, announced record financial results for Q4 and full year 2022. This marks the 28th consecutive period of record revenue for the company. The company's CEO, David Moradi, stated that the fourth quarter demonstrated 19% revenue growth with an increase in gross margin while operating expenses were driven down by 19%. The financial results showcased the company's non-GAAP profitability and improvement in GAAP net loss. Additionally, the company's revenue guidance for Q1 2023 projects YoY growth of 13% at the midpoint, with a range of between $7.7 million and $7.9 million. AudioEye's report also outlined their ARR (annual recurring revenue) and the two primary channels they reach their customers, Enterprise and Partner and Marketplace. The company believes ARR to be a key operating metric, which for them reached $21.5m during Q4, representing a 38% YoY increase. AudioEye has used non-GAAP financial measures such as non-GAAP earnings (loss) and non-GAAP earnings (loss) per diluted share to provide investors with greater insight into their financial and operational decision-making.