07:57 AM EST, 03/07/2024 (MT Newswires) -- TERAGO Inc. ( TRAGF ) , which provides wireless connectivity and private 5G wireless networking services to businesses operating across Canada, overnight Wednesday reported a fourth-quarter net loss of $3.6 million, or $0.18 per diluted share, wider than a loss of $2.4 million, or $0.12 per diluted share, a year earlier.

Total Revenue for the quarter ended Dec. 31, 2023, was $6.5 million, up from $6.3 million a year earlier.

Adjusted EBITDA for Q4 was $1.2 million, consistent with the year-ago period.

ARPU for the connectivity business was $1,164 in Q4, up from $1,127 in Q3 2023 and $1,063 a year earlier because of changes in customer base and product mix and a new pricing strategy implemented in Q4.

The increase in net loss was driven by a combination of higher finance costs, and lower total revenues, combined with non-recurring costs associated with the staffing and management changes. These were partially offset by a reduction in overall operating expenses year over year.