Digital Accessibility Company Acquisition Drives Revenue Growth
- AudioEye acquires digital-accessibility company ADA Site Compliance
- Expected accretive in Q4
- Impressive client list and talented team
- Revenue guidance raised for Q3 and 2024
AudioEye, a software company based in Tucson, Arizona, has acquired digital-accessibility firm ADA Site Compliance without disclosing the financial terms of the deal. The acquisition is expected to be accretive in the fourth quarter, according to AudioEye’s CEO David Moradi, who also praised the impressive client list and talented team at ADA Site Compliance. As a result, the company has adjusted its Q3 revenue guidance to $8.9 million-$8.95 million from the previous range of $8.85 million-$8.95 million. Additionally, AudioEye raised its 2024 revenue forecast to between $35.15 million and $35.25 million, up from the earlier expectation of $34.5 million-$34.8 million. Adjusted EPS is now expected to be between $0.51-$0.53, an increase from the previous range of $0.48-$0.51.
Factuality Level: 9
Factuality Justification: The article provides accurate information about the acquisition of ADA Site Compliance by AudioEye and updates on their financial outlook for both the third quarter and 2024. It includes relevant details such as the CEO’s statement and specific revenue and EPS expectations.
Noise Level: 7
Noise Justification: The article provides relevant information about the acquisition of ADA Site Compliance by AudioEye and updates on their financial outlook for the year. However, it lacks in-depth analysis or exploration of long-term trends or consequences of this decision. It also doesn’t offer much actionable insights or new knowledge beyond the financial details.
Public Companies: AudioEye (AEYE)
Private Companies: ADA Site Compliance
Key People: David Moradi (Chief Executive)
Financial Relevance: Yes
Financial Markets Impacted: AudioEye’s stock price and the digital accessibility industry
Financial Rating Justification: The article discusses an acquisition, financial outlook adjustments for the third quarter and 2024, and expected revenue and earnings per share. This information is relevant to the company’s financial performance and can impact its stock price and the digital accessibility industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text
Move Size: No market move size mentioned.
Sector: Technology
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks
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