GSA Technologies Reports 15% Revenue Growth

By Bobby Samwell • Thursday, December 12 10:21 • Permanent Link

At the recent analyst and investor day, GSA Technologies revealed its latest financial performance. The company reported a 15% increase in revenue compared to the previous period, reaching $350 million. Additionally, GSA Technologies saw a 10% growth in net income, which totaled $45 million.

In terms of operational metrics, the company disclosed that its customer base expanded by 20% to reach 500,000 users. Moreover, the average revenue per user (ARPU) experienced a modest increase of 5%, now standing at $150.

GSA Technologies also highlighted its cost management efforts, with operating expenses decreasing by 8% to $60 million. This resulted in an improved operating margin of 22%, up from 20% in the prior period.

Furthermore, the company's investment in research and development (R&D) saw a significant uptick of 25%, amounting to $30 million.

As a result of these announcements, the company's shares have moved -5.2% on the market, and are now trading at a price of $2.1. For the full picture, make sure to review Globalstar's 8-K report.

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