LICT Corporation Reports Strong Financial Results for Q4 and Full Year 2024

LICT Corporation (OTC Pink: LICT) reported strong financial results for the fourth quarter and full year of 2024, driven by its strategic focus on broadband and data services, acquisitions, and participation in the Enhanced ACAM program. The company's revenues and earnings per share (EPS) grew significantly, reflecting its successful execution of strategic initiatives and expansion into new markets.

Fourth Quarter and Full Year Highlights:

* Revenues increased by 12.8% to $33.4 million in Q4 2024, compared to $29.6 million in Q4 2023.
* Full-year revenues rose by 15.2% to $134.2 million in 2024, compared to $116.5 million in 2023.
* EBITDA grew by 11.2% to $12.9 million in Q4 2024 and by 21.5% to $55.4 million for the full year 2024.
* Earnings per share from continuing operations, excluding one-time items, were $193 in Q4 2024, up 14.2% YoY, and $1,007 for the full year 2024, a 25.6% increase.
* The Enhanced ACAM program participation boosted annual federal USF revenue by $14 million to $37.2 million through 2038.
* LICT repurchased 367 shares for $5.1 million at an average price of $14,011 per share in Q4 2024 and 798 shares for $11.7 million for the full year.
* The company secured a new $100 million revolving credit facility and completed strategic acquisitions, including Manti Telephone Communications.

Key Drivers of LICT's Financial Performance:

1. Broadband and Data Services: LICT's strategic focus on broadband and data services contributed significantly to its revenue growth. Non-regulated revenues, driven by sales of broadband services and high-speed data circuits, increased by 6.7% to $75.1 million in 2024.
2. Acquisitions: The acquisition of Manti Telephone Communications Company (MTCC) and AFConnect (AFI) contributed to LICT's revenue growth. The non-regulated facet of the Manti transaction added $3.1 million in incremental revenues for the full year of 2024.
3. Enhanced ACAM Program: LICT's participation in the Enhanced Alternative Connect America Cost Model (E-ACAM) program boosted its annual federal USF revenue by $14 million to $37.2 million through 2038. This increase in revenue was primarily driven by the acceptance of E-ACAM, which accounted for a $14.0 million increase in regulated revenues for the full year.



LICT's strong financial performance in 2024 reflects its successful execution of strategic initiatives, expansion into new markets, and participation in the Enhanced ACAM program. The company's focus on broadband and data services, along with its acquisitions, has driven significant revenue growth and contributed to its long-term financial outlook. As LICT continues to expand its offerings and explore new opportunities, investors can expect the company to maintain its strong financial performance and continue to create value for shareholders.