Rubicon Technologies, Inc. (NYSE:RBT) Q4 2023 Earnings Call Transcript

And as Phil previously mentioned, the adjusted EBITDA figure includes approximately $3.8 million of non-cash operating expenses. Now turning to our full year results. Revenue was $697.6 million, an increase of $22.2 million or 3.3% compared to $675.4 million for the full year of 2022. Adjusted gross profit was $72.2 million, an increase of $18.9 million or 35.5% compared to $53.3 million for the full year 2022, driven by additional higher-margin business with existing customers, which also drove adjusted gross profit margin expansion of over 245 basis points to 10.4% from 7.9%. Adjusted EBITDA was negative $33 million, an improvement of $41.3 million compared to negative $74.3 million for the full year of 2022. I will now turn it back over to Phil before we take questions.

Phil Rodoni: Thank you for continuing this journey with us. We look forward to updating you on our progress in the coming quarters. With that, I will turn the call over to the operator, who can open the line for questions.

Operator:

Phil Rodoni: Thank you, everyone, for joining us today, and we look forward to updating you in the future. Thanks again.

Operator: This concludes today’s call. You may now disconnect.