Thursday, April 09, 2026
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q4 exceeds revenue expectations. QuoteMedia reported Q4 revenue of $5.35M (+14% y/y) and FY2025 revenue of $20.3M (+8% y/y), reflecting solid top-line momentum, while profitability declined with Adjusted EBITDA of $1.0M (vs. $1.8M prior year) and a net loss of $2.3M, driven by investment and accounting treatment of development costs.
Revenue Drivers & Earnings Dynamics. Growth was led by Corporate Quotestream (enterprise), benefiting from larger contracts, higher ARPC, and cross-selling of data and SaaS solutions, while earnings were pressured by higher expensing of development costs (vs. capitalization), which impacted reported profitability but not cash flow.
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