At Hitit (HTTBT), we reported a substantial 27% increase in sales revenue for Q3 2024, reaching USD$ 24.3 million. With a 39% EBITDA margin and a net cash balance of USD$ 8 million, the company also invested USD$ 10.3 million in R&D to enhance its technological infrastructure and support digital transformation in aviation. Our partnerships with 75 airlines across 49 countries contributed to a 57% increase in invoiced passengers, driven by both new collaborations and a significant increase in business volume from existing partners. Notably, three new partner airlines began generating revenue this quarter after successful system setups.
Hitit continues to strengthen its position in the Airline Retailing Maturity Index (ARMI), achieving 49 capabilities under the Offer and Order Management System (OOMS) receiving certifications for NDC v21.3, and supporting an annual sales volume of USD$ 6.5 billion for its partners. Through ongoing investments in AI and machine learning, we remain committed to delivering innovative and personalized travel solutions.