TAT Technologies Ltd. reported its unaudited results for the full year ended December 31, 2024, with revenue growing by 34% to $152.116 million. Net income surged by 139% to $11.167 million, and Adjusted EBITDA increased by 67% compared to 2023.
The company marked its ninth consecutive quarter of revenue growth, demonstrating consistent operational execution. Gross margin improved from 19.7% in 2023 to 21.7% in 2024, and adjusted EBITDA margin increased from 9.7% to 12.2% over the same period.
In the fourth quarter, TAT secured new contracts and orders totaling $47 million, pushing its backlog to a record high of $429 million. This substantial backlog provides strong visibility for future revenue generation.
Management launched a 'Customer First' initiative in Q4 2024 and strategically increased parts and rotatable inventory to mitigate supply chain risks and support anticipated revenue growth in 2025. The company also completed a $10 million overnight capital raise in 2024, expanding its engagement with the investor community.
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