The following are recent financial reports as posted by selected Utah corporations:
Extra Space
Extra Space Storage Inc., based in Salt Lake City, reported funds from operations (FFO) attributable to common stockholders and unit holders of $433.3 million, or $1.96 per share, for the fourth quarter ended Dec. 31. That compares with FFO of $418.6 million, or $1.89 per share, for the same quarter a year earlier.
The company reported net income attributable to common stockholders of $262.5 million, or $1.24 per share, for the fourth quarter. That compares with $216.1 million, or $1.02 per share, for the year-earlier quarter.
Same-store revenues in the most recent quarter totaled $415.9 million, down from $417.5 million in the year-earlier period.
For the full year 2024, the company reported FFO of $1.68 billion, or $7.57 per share. That compares with $1.35 billion, or $7.56 per share, for 2023.
Net income in 2024 totaled $854.7 million, or $4.03 per share. That compares with $803.2 million, or $4.74 per share, for 2023. Total same-store revenues in 2024 totaled $1.67 billion, up from $1.66 billion in 2023.
“The team continues to optimize performance in a challenging macro environment,” Joe Margolis, CEO, said in announcing the results. “This is evidenced by our ability to maintain strong occupancy during a time of year which is typically marked by occupancy declines. Our people, systems and high occupancy position the portfolio for future revenue growth as conditions improve.
“The outsized growth in our third-party management, bridge loan and insurance businesses, as well as our ability to find creative and off-market investment opportunities, continue to provide an avenue of growth in an otherwise tough operating environment, and contribute to core FFO per-share growth modestly ahead of our projections.”
“We expect much of the same in 2025 —a challenging but slowly improving operating environment, augmented by contributions to FFO from our ancillary businesses and structured investments.”
Merit Medical
Merit Medical Systems Inc., based in South Jordan, reported net income of $27.9 million, or 46 cents per share, for the fourth quarter ended Dec. 31. That compares with $27.6 million, or 47 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $355.2 million, up from $324.5 million in the year-earlier quarter.
For the full year 2024, the company reported net income of $120.4 million, or $2.03 per share. That compares with $94.4 million, or $1.62 per share, for 2023. Revenue in 2024 totaled of $1.36 billion, up from $1.26 billion in 2023.
Merit Medical manufactures and markets health care products.
“We finished 2024 with strong momentum by delivering better-than-expected financial results in the fourth quarter, reflecting continued strong execution,” Fred P. Lampropoulos, chairman and CEO, said in announcing the results. “Our constant currency revenue, organic, and our constant currency total revenue exceeded the high end of our expectations in the fourth quarter.”
Beyond
Beyond Inc., based in Murray, reported a net loss of $81.3 million, or $1.66 per share, for the fourth quarter ended Dec. 31. That compares with a loss of $161 million, or $3.55 per share, for the same quarter a year earlier.
Net revenue in the most recent quarter totaled $303.2 million, down from $384.5 million in the year-earlier period.
For the full year 2024, the company reported a net loss of $258.8 million, or $5.56 per share. That compares with a loss of $307.8 million, or $6.81 per share, for 2023. Net revenue in 2024 totaled $1.4 billion, down from $1.6 billion in 2023.
Beyond owns or has ownership interests in several retail brands, including Bed Bath & Beyond, Overstock and Zulily.
“We are exceeding our previously announced targets of margin improvement and fixed-cost reductions, improved site experience, and the elimination of poor performing SKUs/vendors, which are all leading to our primary goal of making money,” Marcus Lemonis, executive chairman, said in announcing the results. “We will continue to make calibrated decisions to reset the base of the company and build a profitable foundation.
“We are excited by the progress we have made since Nov. 1 and are further encouraged by the sequential improvements that have continued through February. While there is still much work to do, we will continue to make the necessary difficult decisions, leverage technology innovation and utilize our resources and partnerships to create a solid foundation that we believe will deliver profitability and growth.”
Recursion
Recursion, based in Salt Lake City, reported a net loss of $178.9 million, or 53 cents per share, for the fourth quarter ended Dec. 31. That compares with a loss of $93 million, or 42 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $4.5 million, down from $10.9 million in the year-earlier period.
For the full year 2024, the company reported a net loss of $463.7 million, or $1.69 per share. That compares with a loss of $328.1 million, or $1.58 per share, in 2023. Revenue in 2024 totaled $58.8 million, up from $44.6 million in 2023.
Recursion is a clinical stage techbio company.
“In 2024, Recursion made a transformative leap with the largest techbio merger in history, combining our pipeline, partnerships, people and platform to further accelerate the Recursion OS as the leading full-stack techbio platform,” Chris Gibson, co-founder and CEO, said in announcing the results.
“With a portfolio of 10 clinical and preclinical programs, including both potential first-in-class and best-in-class therapies, we are driving towards faster and more effective drug development. These advances position us at the forefront of the next generation of medicine, where the impact will be measured not just in scientific breakthroughs through the power of our platform, but in real-world patient outcomes at scale.”
Green Dot
Green Dot Corp., based in Provo, reported net income of $5.1 million, or 9 cents per share, for the fourth quarter ended Dec. 31. That compares with a net loss of $23.6 million, or 45 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $455 million, up from $366 million for the same quarter a year earlier.
For the full year 2024, the company reported a net loss of $26.7 million, or 50 cents per share. That compares with net income of $6.7 million, or 13 cents per share, for 2023. Operating revenues in 2024 totaled $1.72 billion, up from $1.5 billion in 2023.
Green Dot is a financial technology platform and registered bank holding company that builds banking and payment solutions.
“It was a solid year and fourth quarter for Green Dot as we accelerated revenue and earnings growth and saw our first positive quarter of account growth in several years,” George Gresham, CEO, said in announcing the results. “We balanced the impact of ongoing headwinds with operational improvements and growth in our B2B and embedded finance businesses, aided by new partner wins including Varo, Clip Money, DolFintech and others, reflecting the increasing demand and growth opportunity in embedded finance and Green Dot’s unique value proposition. This reinforces our investments in Arc, our embedded finance brand and platform, and further bolsters my confidence in our growth strategy and path forward.”