OneSoft Solutions Inc. Announces Strong Growth in 2023 and Shares Outlook for 2024

OneSoft Solutions Inc., a Canadian software as a service (SaaS) company, has unveiled its unaudited preliminary financial results for the fiscal year ending on December 31, 2023. The company reported a 51% increase in revenue compared to the previous year, reaching $10.4 million. This performance aligns with the initial forecasts, which anticipated revenue of $10.1 million.

The adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA) also improved, moving from a $2.0 million loss to an $85,000 loss in one year, approaching the projections of a $28,000 loss. These positive results are attributed to the increasing adoption of the Cognitive Integrity Management (CIM) solution by current clients and the acquisition of new clients.

For the fiscal year ending on December 31, 2024, OneSoft projects continued growth in its revenue, estimating a revenue range between $15 and $16 million, with an adjusted EBITDA expected between $1.6 and $1.9 million. These optimistic outlooks are supported by the expected increase in the use of the company's SaaS solutions, both by existing and new clients, as well as the introduction of new software modules.

This announcement coincides with the increased presence of OneSoft in the international market, particularly in South America and Europe, where the company plans to expand its sales and marketing efforts in 2024. OneSoft's management is confident in the company's ability to sustain its growth without requiring additional capital.