Arizona Tribune - Altigen Technologies Reports First Quarter Results for Fiscal Year 2025

NEWARK, CA / ACCESS Newswire / February 27, 2025 / Altigen Technologies (OTCQB:ATGN), a leading Silicon Valley-based Microsoft Cloud Communications Solutions provider, announced today its financial results for the first quarter ended December 31, 2024.

Our fiscal first quarter represented our 2nd consecutive quarter of profitability," said Jeremiah Fleming, Altigen President & CEO. "On a year over year basis our results improved in virtually every category. Although our cloud services revenue decreased on a year over year basis, we did experience modest growth on a sequential quarterly basis. Overall, our digital transformation efforts are gaining traction as evidenced by our reduction in operating expenses. Going forward we expect to see similar improvements in our top line revenue."

Quarter Highlights (1Q 2025 versus 1Q 2024)

1. Net Revenue increased 4% to $3.4 million

2. Cloud services revenue decreased 9% to $1.7 million

3. Service and Other revenue increased 37% to $1.4 million

4. Gross margin increased to 63%, compared with 60%

5. GAAP net income was $87 thousand, compared with ($346) thousand

Select Financial Metrics: Fiscal 2025 versus Fiscal 2024

nm = not measurable/ meaningful; *may not add up due to rounding

Adjusted EBITDA excludes one-time litigation costs and other non-recurring or unusual charges that may arise from time to time that we do not consider to be directly related to core operating performance.

Trended Financial Information

Adjusted EBITDA excludes one-time litigation costs and other non-recurring or unusual charges that may arise from time to time that we do not consider to be directly related to core operating performance.

Conference Call:

Altigen will be discussing its financial results and outlook on a conference call today at 2:00 p.m. Pacific Time (5:00 p.m. ET). The conference call can be accessed by dialing (888) 506-0062 (domestic) or (973) 528-0011 (international), conference ID #451744. A live webcast will also be made available at www.altigen.com. To access the replay, dial (877) 481-4010 (domestic) or (919) 882-2331 (international), conference ID #52071. A web archive will be made available at www.altigen.com for 90 days following the call's conclusion.

About Altigen Technologies

Altigen Technologies (OTCQB: ATGN) is focused on driving digital transformation in today's modern workplace.  Our Cloud Communications solutions and Technology Consulting services empower companies of all sizes to elevate customer engagement, increase employee productivity and improve operational efficiency. We're headquartered in Silicon Valley with operations strategically located in five countries spanning three continents. For more information, call 1-888-ALTIGEN or visit our website at www.altigen.com.

Safe Harbor Statement

This press release contains forward‐looking information. The statements are based on reasonable assumptions, beliefs and expectations of management and the Company provides no assurance that actual events will meet management's expectations. Furthermore, the forward-looking statements contained in this press release are based on the Company's views of future events and financial performances which are subject to known and unknown risks and uncertainties including, but not limited to, statements regarding the Company's operational improvements, performance enhancements, AI solution development, and expectations for sustainable growth. There can be no assurances that the Company will achieve the expected results, and actual results may be materially different than expectations and from those stated or implied in forward-looking statements.

Please refer to the Company's most recent Annual Report filed with the OTCQB over-the-counter market for a further discussion of risks and uncertainties. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company does not undertake any obligation to update any forward-looking statements.

Contact:

• Altigen Communications, Inc.

• Investor Relations - [email protected]

Altigen Communications, INC.
Consolidated Balance Sheets
(in thousands, except shared and per share data

The information in this column was derived from the Company's audited consolidated financial statements as of and for the year ended September 30, 2024

Altigen Communications, INC.
Consolidated Statements of Cash Flows
(Amounts in thousands)

Altigen Communications, INC.
UnAudited Consolidated Condensed Statements of Operations
(Amounts in thousands, except share data)

Altigen Communications, INC.
Reconciliation of GAAP to NON-GAAP Financial Measures
(Amounts in thousands, except share data)

Non-GAAP Financial Measures

In calculating non-GAAP financial measures, we exclude certain items to facilitate a review of the comparability of our core operating performance on a period-to-period basis. These non-GAAP financial measures exclude stock-based compensation expense, amortization of acquired intangible assets, depreciation and amortization expenses, acquisition-related costs, change in deferred tax asset valuation allowance, litigation costs and other non-recurring or unusual charges or benefits that may arise from time to time that we do not consider to be directly related to core operating performance. We use non-GAAP measures to evaluate the core operating performance of our business and to perform financial planning. Since we find these measures to be useful, we believe that investors benefit from seeing results reviewed by management in addition to seeing GAAP results. We believe that these non-GAAP measures, when read in conjunction with our GAAP financials, provide useful information to investors by facilitating: (i) the comparability of our on-going operating results over the periods presented and (ii) the ability to identify trends in our underlying business.

SOURCE: Altigen Technologies

View the original press release on ACCESS Newswire

R.Garcia--AT