エンウェーブ、2024年第3四半期連結中間決算を発表

Delta, BC, August 23, 2024

EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) today reported the Company’s consolidated interim financial results for the third quarter ended June 30^th, 2024, demonstrating strong improvement over the first and second quarters this fiscal year.  

特に断りのない限り、数値はすべて千単位でCAD表示。

• Reported revenue for Q3 2024 of $2,622 compared to $2,486 for Q3 2023, representing an increase of $136. The increase was related to a large-scale machine resale with a higher margin and increased small scale machines sales for the period.
• Reported royalty revenues of $425, representing an increase of $31 relative to the comparable period in the prior year due to increased sales and production from current royalty partners.
• Reported an Adjusted EBITDA⁽¹⁾ (refer to NON-IFRS Financial Measures section below) profit of $85 for Q3 2024, compared to an Adjusted EBITDA⁽¹⁾ loss of $192 in the same period in the prior year due to the resale of a high margin large-scale machine and increased royalty revenues.
• Gross margin for the three months ended Q3 2024 was 44% compared to 29% for the three months ended Q3 2023. The increase in margin was a result of the resale of the large-scale machine with a higher margin and increased royalties.
• Reported Selling, General & Administrative (“SG&A”) costs (including Research & Development (“R&D”) of $1,364 which increased by $178 from the comparable period in the prior year due to increased personnel costs, legal fees and increased sales efforts, including higher attendance at trade shows. 

連結業績：

                Note:

• Adjusted EBITDA is a non-IFRS financial measure. Refer to the Non-IFRS Financial Measures disclosure below for a reconciliation to the nearest IFRS equivalent.

EnWave’s consolidated interim financial statements and MD&A are available on SEDAR+ at www.sedarplus.ca and on the Company’s website www.enwave.net

Key Financial Highlights for the Nine Months Ended Q3 2024 (expressed in 000’s)

• Royalties for the nine months ending June 30, 2024 were $1,319 compared to $1,085 for the same period ending June 30, 2023, an increase of $234 or 22%. Royalties grew due to increased partner product sales and production offset by a decrease in exclusivity fees.
• Reported revenue for Q3 2024 of $4,547, representing a decrease of $5,349 relative to the comparable period in the prior year. The decrease was related to overall fewer machine sales and machines in fabrication compared to the prior period due to the inherent volatility in large-scale Radiant Energy Vacuum (“REV™”) machine orders.
• SG&A costs for the nine months ending June 30, 2024 were $4,016 compared to $4,140 for the same period ending June 30, 2023, a decrease of $124, as a result of concerted efforts to maintain discretionary spending.
• Adjusted EBITDA⁽¹⁾ loss for the nine months ended Q3 2024 of $1,939, compared to an Adjusted EBITDA⁽¹⁾ profit of $703 in the same period in the prior year due to fewer machine sales to absorb fixed overhead costs.

Significant Corporate Accomplishments in Q3 2024 and Subsequently:

• Signed a Technology Evaluation and License Option Agreement with a North American food company led by a renowned chef with multiple Michelin Stars.
• Signed an Equipment Purchase Agreement for a 120kW REV® dehydration machine with an existing royalty partner. 
• Signed an Equipment Purchase Agreement with BranchOut Foods LLC, a current royalty partner, for a 100kW REV™ dehydration machine to provide additional drying capacity.
• Signed a Commercial License Agreement with Bounty Specialty Foods to produce several product types in the Philippines and sold a 10kW REV™ dehydration machine for product development.
• Signed a Commercial Licence Agreement with an existing royalty partner to produce several tropical fruit products in an unspecified Central American country. An annual six-figure royalty fee will be paid in exchange for the exclusive rights.
• Subsequent to the quarter, repurchased a large-scale machine from a cannabis multi-state operator to expedite the completion of the 120kW REV™ Branchout Foods LLC Equipment Purchase Agreement. 

非IFRS財務指標：

This news release refers to Adjusted EBITDA which is a non-IFRS financial measure. We define Adjusted EBITDA as earnings before deducting amortization and depreciation, stock-based compensation, foreign exchange gain or loss, finance expense or income, income tax expense or recovery and non-recurring impairment, restructuring and severance charges, and discontinued operations. This measure is not necessarily comparable to similarly titled measures used by other companies and should not be construed as an alternative to net income or cash flow from operating activities as determined in accordance with IFRS. Please refer to the reconciliation between Adjusted EBITDA and the most comparable IFRS financial measure reported in the Company’s consolidated interim financial statements.

Non-IFRS financial measures should be considered together with other data prepared in accordance with IFRS to enable investors to evaluate the Company’s operating results, underlying performance and prospects in a manner similar to EnWave’s management.  Accordingly, these non-IFRS financial measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For more information, please refer to the Non-IFRS Financial Measures section in the Company’s MD&A available on SEDAR+ www.sedarplus.ca.

エンウェーブについて

EnWave社は、真空マイクロ波脱水の革新と応用の世界的リーダーです。EnWave社は、BC州デルタに本社を置き、強固な知的財産ポートフォリオを開発し、放射エネルギー真空(REV™)技術を完成させ、革新的なアイデアを、食品、製薬、大麻産業用の、実績のある、一貫した、拡張可能な乾燥ソリューションに変えました。

世界23カ国、5大陸にまたがる50社以上のロイヤリティ創出パートナーとともに、EnWaveのライセンスパートナーは、同社の特許技術、ライセンス機械、専門家の指導により、収益性の高い、これまでにないスナック菓子や食材を生み出し、既存製品の品質と一貫性を向上させ、無駄のない経営を実現し、市場投入を早めている。

エンウェーブの戦略は、凍結乾燥、ラック乾燥、風乾よりも、より良く、より速く、より経済的に乾燥させ、エキサイティングな新製品を生産し、最適な水分レベルに最大7倍速く到達し、製品の味、食感、色、栄養価を向上させるという次のようなメリットを享受したいと考える食品製造業者と、ロイヤリティを伴う商業ライセンスを締結することである。

詳しくはEnWave.netをご覧ください。

エンウェーブ・コーポレーション

ブレント・チャールトン CFA

社長兼CEO

詳細はこちら：

ブレント・チャールトン、CFA、社長兼CEO、電話：+1 (778) 378-9616
E-mail:bcharleton@enwave.net      

ディラン・マレイ、CPA、CFO、電話：+1 (778) 870-0729
E-mail:dmurray@enwave.net  

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