AudioEye Buys ADA Site Compliance, Raises 2024 Outlook

Dow Jones

Sep 30, 2024

By Don Nico Forbes

AudioEye said it acquired digital-accessibility company ADA Site Compliance, and raised its outlook for 2024.

The Tuscon, Ariz., software company didn't disclose the financial terms of the deal, but said it expects the acquisition to be accretive in the fourth quarter.

"ADA Site Compliance has an impressive client list and a talented team with which we see synergy," Chief Executive David Moradi said.

AudioEye added it adjusted its outlook for the third quarter and now expects revenue to come in between $8.9 million and $8.95 million, compared with $8.85 million to $8.95 million previously.

The company also raised guidance for 2024, saying it anticipates revenue of between $35.15 million and $35.25 million, up from a previous forecast for $34.5 million-$34.8 million. Adjusted earnings per share are expected to come in between $0.51 and $0.53, up from a prior view of $0.48 to $0.51.

Write to Don Nico Forbes at don.forbes@wsj.com

(END) Dow Jones Newswires

September 30, 2024 06:46 ET (10:46 GMT)

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