TORONTO, July 19, 2024 /CNW/ - Dye & Durham Limited (TSX:DND) ("Dye & Durham" or the "Company"), today announced its preliminary unaudited financial results1 for the three-month period ended June 30, 2024 ("Q4 FY2024"). "As expected, the business fundamentals remained very strong throughout the fourth quarter" said Matthew Proud, CEO of Dye & Durham. "Our strategic transition to a SaaS model is proving effective, enabling us to grow at scale and capture market opportunities more efficiently. This shift has significantly bolstered our financial performance, validating our go-to-market strategy." "Looking ahead, we are optimistic about our future prospects. Early results from the current quarter further reinforce our confidence in the underlying financial performance and cash generation capabilities, which allow us to continue to drive towards a leverage ratio of below four times net debt to adjusted EBITDA. We remain excited about the potential growth and value creation for our shareholders." Fourth Quarter Fiscal 2024 Highlights(1): Revenue for Q4 FY2024 is expected to be approximately $120 million. Total revenue growth for Q4 FY2024 is expected to be approximately 15%, of which 8% is expected to be organic(2)(3). Leveraged Free Cash Flow(2)(4) for Q4 FY2024, is expected to be approximately $28 million. 1. These figures are preliminary and are inherently uncertain due to a number of factors, and remain subject to review by the Company's management, audit committee and board of directors and the completion of regular financial closing and review procedures and audit procedures for Q4 FY2024 and fiscal 2024. The preliminary unaudited figures disclosed herein should not be viewed as a substitute for audited financial statements prepared in accordance with generally accepted accounting principles. Additional adjustments to the preliminary unaudited figures presented above may be identified, and final results for the relevant fiscal periods may differ materially from these preliminary unaudited figures and will not be finalized until after the Company completes its normal year-end accounting procedures, including execution of internal controls over financial reporting.  These preliminary unaudited figures are intended to provide information about management's current expectations regarding certain aspects of Dye & Durham's financial performance. Reliance on the information presented herein may not be appropriate for other purposes. 2. Represents a non-IFRS measure. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. For the relevant definition, see the "Non-IFRS Financial Measures" section of this press release. Management believes non-IFRS measures, including Organic Revenue and Leveraged Free Cash Flow, provide supplementary information to IFRS measures used in assessing the performance of the business by providing further understanding of the Company's results of operations from management's perspective. 3. Revenue Growth is calculated by the total revenue in the current quarter period divided by the total revenue in the prior quarter (excluding TM Group). Organic Revenue Growth Rate is calculated by the total revenue in the current quarter period (excluding the pre-acquisition quarterly revenue of those acquisitions executed in the last twelve months period from June 30, 2024 and discontinued businesses) divided by the total revenue in the prior quarter period (excluding TM Group, pre-acquisition quarterly revenue and discontinued businesses). As disclosed below, Organic Revenue, which is a non-IFRS measure, is used as a component in Organic Revenue Growth Rate. Below is a reconciliation of Organic Revenue to Revenue. Estimated Q4 FY2024 (thousands) Revenue 120,000 TM Group Pre-Divestiture