Cleartronic Inc (CLRI) Q3 2024 Earnings Report

Cleartronic Inc (CLRI) reported QQ3 2024 results reflecting a meaningful top-line rebound and margins that held despite a fragile balance sheet. Revenue for the quarter reached USD 1.005 million, up 79.35% year over year and 75.70% sequentially, driven by stronger activity in its ReadyOp-based offerings and related services. Gross profit rose to USD 685 thousand, delivering a gross margin of 68.2%, while operating income expanded to USD 80.9 thousand and EBITDA reached USD 86.9 thousand, yielding an EBITDA margin of 8.6%. Net income totaled USD 84.9 thousand with earnings per share (EPS) of USD 0.0003, signaling a return to quarterly profitability on a small base.

From a finances perspective, the quarter shows the company leveraging scale in a high-margin core geography and verticals, yet remains financially exposed to balance-sheet fragilities. Total assets stood at roughly USD 1.65 billion? (note: see balance sheet below for asset mix), with current liabilities near USD 1.58 billion and stockholders’ equity at a modest USD 29.6 thousand due primarily to a large accumulated deficit (retained earnings negative USD 15.21 million). Cash generation was positive from operations (USD 108 thousand) and free cash flow (USD 115.6 thousand), but liquidity remains constrained: current ratio 0.89, quick ratio 0.81, and cash ratio 0.50 on the ratios, highlighting ongoing working-capital pressures.

Management commentary on the quarter is not included in the provided transcript, limiting the visibility of explicit forward-looking guidance or strategy remarks. Nevertheless, the quarterly improvement, combined with a substantial deferred revenue balance (USD 1.44 million) suggests potential for continued recognized revenue as performance obligations are satisfied. For investors, the key takeaway is a fragile but improving earnings trajectory tempered by a fragile balance sheet, OTC liquidity constraints, and a need for sustained growth to meaningfully alter capital structure and financial flexibility.