Aeries Technology, Inc. Reports Results for Third Fiscal Quarter 2025

North America Income Up 13.1% 12 months-Over-12 months. Core adjusted EBITDA for the third fiscal quarter of 2025 was $1.50 million, in comparison with ($0.02) with the identical interval in 2024.

NEW YORK, Feb. 14, 2025 (GLOBE NEWSWIRE) — Aeries Technology, Inc. (“Aeries” or “the Firm”) (Nasdaq: AERT), a number one supplier of worldwide functionality middle (GCC) options, in the present day introduced monetary outcomes for the quarter ended December 31, 2024.

“With the latest management adjustments, Aeries is strategically poised for the long run, persevering with our give attention to serving high-quality, long-standing U.S. purchasers via World Functionality Facilities.” stated Ajay Khare, CEO of Aeries Know-how. “We imagine this clear course, supported by a realigned price construction and a sturdy group, firmly positions us for a return to worthwhile progress in each money move and Adjusted EBITDA. As we capitalize on new alternatives and strengthen our presence within the North American market, we’re assured in our capacity to drive sustained success and operational excellence.”

Three Months Ended December 31, 2024 (Third Fiscal Quarter 2025) Monetary Highlights
Revenues: Revenues for the third fiscal quarter of 2025 have been $17.6 million, down 6.8% in comparison with $18.9 million for the third fiscal quarter of 2024.

Earnings/(Loss) from Operations: Earnings from operations for the third fiscal quarter of 2025 was $(5.2) million, in comparison with $0.7 million for the third fiscal quarter of 2024.

Web Earnings/(Loss): Web revenue for the third fiscal quarter of 2025 was $2.0 million, in comparison with internet lack of $(16.3) million for the third fiscal quarter of 2024.

Adjusted EBITDA: Adjusted EBITDA for the third fiscal quarter of 2025 was $(2.0) million, in comparison with $2.4 million for the third fiscal quarter of 2024.

Core adjusted EBITDA: Core adjusted EBITDA for the third fiscal quarter 2025 was $1.5 million, in comparison with $(0.02) million for the third fiscal quarter of 2024.

Monetary Outlook

The Firm is reiterating its said steerage for fiscal yr 2025:

• Income between $71 million and $73 million
• Core adjusted EBITDA between $6 million and $7 million

As well as, we’re introducing our fiscal yr 2026 outlook, with anticipated revenues between $74 million and $80 million and Adjusted EBITDA between $6 million to $8 million. Fiscal 2026 reporting and steerage won’t embody Core adjusted EBITDA, as we anticipate that each one anticipated credit score losses from prior non-core markets may have been absolutely addressed this fiscal yr.

Convention Name Particulars
The corporate will host a convention name to debate its monetary outcomes on Tuesday, February 18, 2025, at 8 AM ET. The decision might be accessible by phone at 1-877-407-0792 (home) or 1-201-689-8263 (worldwide). The decision transcript may even be obtainable on the corporate’s investor relations web site at https://ir.aeriestechnology.com

About Aeries Know-how
Aeries Technology (Nasdaq: AERT) is a world chief in World Functionality Heart (GCC) options. We set up GCCs for Personal Fairness’s Portfolio Firms and ship a complete suite of Advisory & Worth Creation options. Leveraging superior applied sciences like AI and automation, Aeries provides tailor-made engagement fashions designed to ship versatile, impact-driven options with measurable outcomes.

Based in 2012, Aeries Know-how has grown to over 1,800 professionals, and its dedication to workforce improvement has earned it the Nice Place to Work Certification for 2 consecutive years.

Non-GAAP Monetary Measures
The Firm makes use of non-GAAP monetary data and believes it’s helpful to buyers because it offers further data to facilitate comparisons of historic working outcomes, establish traits in its underlying working outcomes and supply further perception and transparency on the way it evaluates the enterprise. The Firm makes use of non-GAAP monetary measures to funds, make working and strategic choices, and consider its efficiency. The Firm has detailed the non-GAAP changes that it makes within the non-GAAP definitions under. The changes typically fall inside the classes of non-cash objects. The Firm believes the non-GAAP measures introduced herein ought to at all times be thought of together with, and never as an alternative to or superior to, the associated GAAP monetary measures. As well as, equally titled objects utilized by different firms might not be comparable because of variations in how they’re calculated and the way phrases are outlined. For additional data, see “RECONCILIATION OF NON-GAAP FINANCIAL MEASURES For the three and 9 months ended December 31, 2024 and 2023” under, together with the reconciliations of those non-GAAP measures to their most straight comparable GAAP monetary measures.
The Firm outline Adjusted EBITDA as internet earnings from operations earlier than curiosity, earnings taxes, depreciation and amortization, additional adjusted to exclude stock-based compensation, M&A transaction-related prices, and adjustments in honest worth of spinoff liabilities. The Firm outline Core Adjusted EBITDA as Adjusted EBITDA much less EBITDA from non-core enterprise. Our core enterprise contains GCC providers offered to non-public equity-backed firms, primarily in North America, characterised by long-term relationships, recurring contracts, and multi-year income streams. In distinction, our non-core enterprise contains consulting providers, primarily for purchasers within the Center East, which generally contain one-time engagements with prolonged assortment cycles. Transferring ahead, we goal for almost all of our income to be generated from our core enterprise, and we don’t plan to enter into new buyer contracts outdoors North America.
Adjusted EBITDA and Core Adjusted EBITDA are key efficiency indicators the corporate makes use of in evaluating our working efficiency and in making monetary, working, and planning choices. The Firm believes these measures are helpful to buyers within the analysis of Aeries’ working efficiency as such data was utilized by the Firm’s administration for inner reporting and planning procedures, together with points of our consolidated working funds and capital expenditures. A number of the limitations of Adjusted EBITDA and Core Adjusted EBITDA embody: every of those measures doesn’t mirror (i) our money expenditures or future necessities for capital expenditures or contractual commitments or international trade acquire/loss; (ii) adjustments in, or money necessities for, working capital; (iii) important curiosity expense or the money necessities essential to service curiosity or principal funds on our excellent debt; (iv) funds made or future necessities for earnings taxes; and (v) money necessities for future alternative or cost in depreciated or amortized property; (vi) inventory based mostly compensation prices, (vii) severance pay, (viii) Enterprise Mixture and M&A transaction associated prices, which symbolize non-recurring authorized, skilled, personnel and different charges and bills incurred in reference to potential mergers and acquisitions associated actions for the three and 9 months ended December 31, 2024, and Enterprise Mixture associated prices for the three and 9 months associated December 31, 2023, (ix) change in honest worth of spinoff liabilities. Moreover, the Core Adjusted EBITDA doesn’t mirror the availability for anticipated credit score loss / (revenue) from non-core enterprise.

Ahead-Wanting Statements
All statements on this launch that aren’t based mostly on historic truth are “forward-looking statements” inside the which means of the Personal Securities Litigation Reform Act of 1995 and the provisions of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. Phrases similar to “anticipate,” “imagine,” “proceed,” “may,” “estimate”, “count on”, “hope”, “intend”, “might”, “would possibly”, “ought to”, “would”, “will”, “perceive” and related phrases are supposed to establish ahead wanting statements. These forward-looking statements embody however aren’t restricted to, statements concerning our future working outcomes, outlook, steerage and monetary place, our enterprise technique and plans, our goals for future operations, and macroeconomic traits. Whereas administration has based mostly any forward-looking statements included on this launch on its present expectations, the knowledge on which such expectations have been based mostly might change. These forward-looking statements depend on a variety of assumptions regarding future occasions and are topic to a variety of dangers, uncertainties and different components, a lot of that are outdoors of the management of Aeries and its subsidiaries, which may trigger precise outcomes to materially differ from such statements. The next components, amongst others, may trigger precise outcomes and the timing of occasions to vary materially from the anticipated outcomes or different expectations expressed within the forward-looking statements: our market alternative; our capacity to take care of the itemizing of the Class A odd shares and the warrants on the Nasdaq Inventory Market, and the potential liquidity and buying and selling of such securities; our enterprise improvement efforts to maximise our potential worth and to retain and develop our buyer base; our estimates concerning bills, future income, capital necessities and desires for added financing; our monetary efficiency; our capacity to proceed as a going concern; the sufficiency of our present money and money equivalents to fund our working bills and capital expenditure necessities; our success in retaining or recruiting officers, key workers or administrators, or any mandatory adjustments to those positions; adjustments in relevant legal guidelines or laws in america and international jurisdictions; our capacity to develop and preserve efficient inner controls; dangers associated to cybersecurity and information privateness; basic financial and political circumstances, similar to the results of the Russia-Ukraine and the Israel-Hamas conflicts, pandemics such because the COVID-19 outbreak, recessions, rates of interest, inflation, native and nationwide elections, gas costs, worldwide forex fluctuations, adjustments in diplomatic and commerce relationships, political instability, acts of conflict or terrorism and pure disasters. Additional data on dangers, uncertainties and different components that would have an effect on our monetary outcomes are included in Aeries’ periodic and present reviews filed with the U.S. Securities and Alternate Fee. Moreover, Aeries operates in a extremely aggressive and quickly altering atmosphere the place new and unanticipated dangers might come up. Accordingly, buyers shouldn’t place any reliance on forward-looking statements as a prediction of precise outcomes. Aeries disclaims any intention to, and undertakes no obligation to, replace or revise forward-looking statements, until in any other case required by legislation.

Contact
IR@aeriestechnology.com

The accompanying notes are an integral a part of these condensed consolidated monetary statements.