American Aires Announces Record Q4 and Annual 2023 Order Volume and Significant Q4 EBITDA Profitability
American Aires Inc.
American Aires (CSE: WIFI | OTCQB: AAIRF) has developed a technology that neutralizes the harmful effects of EMFs.
Toronto, Ontario (April 11, 2024) - American Aires Inc. (CSE:WIFI; OTC Pink:AAIRF) ("Aires" or the "Company”), a pioneer in cutting-edge technology designed to protect against electromagnetic radiation and optimize human health, is pleased to announce the filing the Company’s Financial Statements and Management’s Discussion & Analysis (MD&A) for the year ended December 31, 2023 and disclose key performance metrics (non-IFRS and unaudited financial results). To keep financial results comparable on a YoY basis while making them consistent with ongoing and future reporting, all figures below combine the results of Aires and those achieved by HUCK Project LLC (“HUCK”) pursuant to the Distributor-Royalty agreement initially announced on August 28, 2023 and which has been subsequently terminated by mutual agreement of the parties, as announced on February 16, 2024.
The Aires team is proud of its Q4 2023 performance, achieving record order volume of $3.7 million,1 largely due to enhancements made to Aires’ marketing and advertising strategy. The increased order volume represents strong growth YoY (up $1.3 million for 53% growth), while advertising and promotion expenses grew by only a modest $0.3 million YoY as we continue to scale up our growth engine, and marketing costs were slightly reduced by 2% YoY.
The record level of quarterly order volume was achieved despite a temporary shortage of product that limited sales. The related supply chain constraint has now been resolved, and the Company has been fully stocked since that time thanks to the negotiation of new supply terms and increased working capital from our recently closed $4 million financing, as announced on February 16, 2024.
The Company’s most important quarterly achievement was reporting its first significant adjusted quarterly EBITDA profitability at $77,750, which is a milestone that underscores the Company’s ongoing strategic delivery of shareholder value. EBITDA adjustments are for inclusion of HUCK results and non-recurring expenses associated with restructuring and other one-time costs. Please see “Adjusted EBITDA Reconciliation Table for Q4/2023” below for more details.
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The Aires team is equally proud of its annual performance in 2023 on multiple fronts. The Company drove an impressive order volume increase of 79% YoY to $10.4 million (up from $5.8 million in 2022). The strong order volume financial results are a direct result of the brand-building vision of American Aires CEO, Josh Bruni, and his ability to consistently drive growth, such as 2022’s order volume increase of 128% YoY. As with previous years, the main catalyst for revenue growth was Bruni’s measured, data-driven and iterative growth engine.
American Aires CEO, Josh Bruni, commented: "This success builds on the hard work and sustainable growth we’ve demonstrated over the past 2 years. These financial results are just the latest proof that we have what it takes to reach and convert the massive and growing consumer market focused on wellbeing and EMF protection. Now it’s time to focus on making 2024 our best year ever and continuing our trajectory of significant revenue growth. That means staying the course but with the welcomed advantage of working with a larger budget. That will involve ramping up our predictable growth engine to drive further revenue increases and deepening and widening our relationships with athletes, celebrities and performers to elevate Aires to the level of household brand.”
1Please see “HUCK-Aires Reconciliation Table” for a breakdown of order volume generated by Aires and by HUCK pursuant to the Distributor-Royalty agreement between Aires and HUCK, prior to termination of the agreement.
As investors we trust that exciting times are yet to come! The next goal is corporate profitability with positive cash flow in order not to depend on capital markets to finance growth, and expand gross margins. Scalability is the secret of every successful business! We expect a significant increase in triple-digit growth and reach new heights every year in order to reach 100 million turnover in the coming years with 80% margins! We are only at the beginning of a distruptive company with a unique vision, to become the leader in its field and reach 1 Bln of marketcap!