EQ Inc. Reports Third Quarter Financial Results

EQ Inc., an AI-driven software company, disclosed its third quarter results for 2024, showing steady revenue at $2.5 million, comparable to last year's figures. The Paymi division experienced a remarkable 35% increase in revenue sequentially, indicating a strong entry into Q4. EQ's proposal and pipeline activities rose by over 100%, with bookings and backlog climbing 25%, illustrating increased demand for its SaaS offerings.

The company noted a gross margin enhancement to 44%, fueled by higher data revenue and cost optimization, and reported a $0.1 million loss in adjusted EBITDA, marking a 25% quarterly improvement. EQ also secured a $1.0 million loan from the BDC and received a $1.0 million net settlement after legal expenses.

CEO Geoffrey Rotstein emphasized ongoing profitability efforts and the strategic use of extensive first-party data resources, positioning EQ to capitalize on diverse market opportunities with advancements in AI solutions.