Quisitive Technology Solutions, Inc. (OTCQX:QUISF) Q3 2024 Earnings Conference Call November 25, 2024 5:00 PM ET
Company Participants
Mike Reinhart – Founder and Chief Executive Officer
Scott Meriwether – Chief Financial Officer
Conference Call Participants
Adhir Kadve – Eight Capital
Rob Goff – Ventum Financial Corp.
Jerome Dubreuil – Desjardins
Stephen Boland – Raymond James
Divya Goyal – Scotiabank
Operator
Good afternoon and welcome to Quisitive’s Third Quarter 2024 Earnings Conference Call. Joining us for today’s call are Quisitive’s Chief Executive Officer, Mike Reinhart; and Chief Financial Officer, Scott Meriwether. Following their remarks, we’ll open the call for your questions.
Before we begin today, I’d like to remind everyone that during the conference call, management may make statements that contain forward-looking statements within the meaning of applicable Canadian securities legislation. Please refer to the company’s forward-looking information disclaimer statement, which can be found on the notice for this call and the website of the third quarter 2024 earnings release.
Now, I’d like to turn the call over to Mike Reinhart. You may begin.
Mike Reinhart
Thank you, operator, and good afternoon, everyone. We appreciate you taking the time to join our third quarter 2024 earnings call. The third quarter saw solid sequential financial improvement with marginal upticks across both revenue and EBITDA.
Gross margins across our cloud business continue to hold steady and healthy above the 40% range, showing slight sequential gains and remained stable year-over-year. Recurring revenue stayed firmly within the 40% range to reflect our consistent customer engagement and retention over time. We are pleased with the results of our continued focus on recurring revenues as it generates a solid foundation for the business.
Our anchor customers continue to reaffirm their commitment, choose Quisitive as their strategic partner of choice with 90% of revenue coming from customers that have engaged
