The following is a summary of the AudioEye, Inc. (AEYE) Q2 2024 Earnings Call Transcript:

Financial Performance:

• AudioEye reported Q2 2024 revenue of $8.5 million, marking a 19% annualized growth rate.

• Net loss decreased by 63% year-over-year to $700,000.

• Generated record adjusted EBITDA of $1.5 million with a corresponding margin of 17%.

• Recorded free cash flow from operations of $1 million.

• Increased the full-year revenue guidance to $34.5 - $34.8 million and EBITDA guidance to $6 - $6.3 million.

Business Progress:

• Notable growth in enterprise and partner/marketplace channels, with investments in R&D improving the go-to-market approach.

• Enhanced focus on strategic partnership initiatives, notably with Finalsite to target their customer base.

• Anticipated positive traction from regulatory changes in digital accessibility, aiming to expand market share.

• Guide for Q3 2024 includes revenue of $8.85 million to $8.95 million and adjusted EBITDA of $1.85 million to $1.95 million.

Opportunities:

• Regulatory developments like DOJ Title II and HHS rules for digital accessibility present significant expansion opportunities for AudioEye.

• New partnerships in industries affected by Title II and HHS rules, particularly in education and healthcare, offer substantial growth potential.

Risks:

• The complexity and cost implications of complying with new and stringent digital accessibility regulations could pose challenges.

More details: AudioEye IR

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