Enablence Technologies Inc. Announces Financial Results for Fiscal Year 2024
Enablence Technologies (TSXV: ENA) reported financial results for FY2024, showing revenue of $1,601K, down 18% from $1,961K in FY2023. The company saw increased NRE revenue of $578K and Americas sales growth to $655K. Net loss widened to $14,108K from $8,605K due to manufacturing investments. The company secured $6,611K in new funding. For FY2025, management projects revenue of $5.5M ±0.5M, representing 300% YoY growth, with expected gross margin positivity in Q3. Manufacturing capacity is planned to increase from 100 to 700 wafer starts per week to meet AI-driven demand.
Enablence Technologies (TSXV: ENA) ha riportato i risultati finanziari per l'anno fiscale 2024, registrando un fatturato di $1,601K, in calo del 18% rispetto ai $1,961K dell'anno fiscale 2023. L'azienda ha visto un aumento del fatturato NRE a $578K e una crescita delle vendite nelle Americhe a $655K. La perdita netta è aumentata a $14,108K rispetto agli $8,605K a causa degli investimenti nella produzione. L'azienda ha ottenuto $6,611K di nuovi finanziamenti. Per l'anno fiscale 2025, la direzione prevede un fatturato di $5.5M ±0.5M, rappresentando una crescita del 300% anno su anno, con un margine lordo positivo previsto nel terzo trimestre. Si prevede che la capacità produttiva aumenterà da 100 a 700 avvii di wafer a settimana per soddisfare la domanda trainata dall'AI.
Enablence Technologies (TSXV: ENA) informó resultados financieros para el año fiscal 2024, mostrando ingresos de $1,601K, una disminución del 18% desde $1,961K en el año fiscal 2023. La empresa vio un aumento en los ingresos de NRE a $578K y un crecimiento en las ventas de América a $655K. La pérdida neta se amplió a $14,108K desde $8,605K debido a las inversiones en manufactura. La compañía aseguró $6,611K en nuevos fondos. Para el año fiscal 2025, la dirección proyecta ingresos de $5.5M ±0.5M, representando un crecimiento del 300% interanual, con un margen bruto positivo esperado en el tercer trimestre. Se planea que la capacidad de fabricación aumente de 100 a 700 inicios de wafers por semana para satisfacer la demanda impulsada por la IA.
Enablence Technologies (TSXV: ENA)는 2024 회계연도 재무 결과를 보고하며, 수익이 $1,601K로 2023 회계연도의 $1,961K에서 18% 감소했다고 전했습니다. 회사는 NRE 수익이 $578K로 증가하고 아메리카 지역의 매출이 $655K로 성장했다고 밝혔습니다. 순손실은 제조 투자로 인해 $14,108K로 확대되었으며, 이전의 $8,605K에서 증가했습니다. 회사는 새로운 자금 조달로 $6,611K를 확보했습니다. 2025 회계연도의 경우, 경영진은 수익을 $5.5M ±0.5M으로 예상하며, 이는 전년 대비 300% 성장에 해당하고, 3분기에는 긍정적인 총 마진을 예상하고 있습니다. AI 주도 수요를 충족하기 위해 제조 용량을 주당 100개의 웨이퍼 시작에서 700개로 늘릴 계획입니다.
Enablence Technologies (TSXV: ENA) a rapporté ses résultats financiers pour l'exercice 2024, montrant des revenus de 1,601 K$, une baisse de 18 % par rapport à 1,961 K$ en 2023. L'entreprise a constaté une augmentation des revenus NRE à 578 K$ et une croissance des ventes en Amérique à 655 K$. La perte nette a augmenté à 14,108 K$ contre 8,605 K$ en raison des investissements dans la fabrication. L'entreprise a sécurisé 6,611 K$ de nouveaux financements. Pour l'exercice 2025, la direction projette des revenus de 5,5 M$ ±0,5 M$, représentant une croissance de 300 % par rapport à l'année précédente, avec une marge brute positive attendue au troisième trimestre. La capacité de fabrication devrait passer de 100 à 700 débuts de wafers par semaine pour répondre à la demande alimentée par l'IA.
Enablence Technologies (TSXV: ENA) hat die Finanzzahlen für das Geschäftsjahr 2024 veröffentlicht und meldete Einnahmen von $1,601K, was einem Rückgang von 18% im Vergleich zu $1,961K im Geschäftsjahr 2023 entspricht. Das Unternehmen verzeichnete einen Anstieg der NRE-Einnahmen auf $578K sowie ein Umsatzwachstum in den Amerikas auf $655K. Der Nettoverlust erweiterte sich auf $14,108K von $8,605K aufgrund von Investitionen in die Fertigung. Das Unternehmen sicherte sich $6,611K an neuer Finanzierung. Für das Geschäftsjahr 2025 prognostiziert das Management Einnahmen von $5.5M ±0.5M, was einem Wachstum von 300% im Jahresvergleich entspricht, mit einer erwarteten positiven Bruttomarge im dritten Quartal. Die Produktionskapazität soll von 100 auf 700 Waferstarts pro Woche erhöht werden, um der von KI getriebenen Nachfrage gerecht zu werden.
- Secured $6,611K in new funding during FY2024
- NRE revenue increased to $578K from $466K
- Americas sales grew to $655K from $452K
- Projected 300% revenue growth for FY2025 to $5.5M ±0.5M
- Manufacturing capacity expansion planned from 100 to 700 wafer starts weekly
- Revenue declined 18% to $1,601K from $1,961K YoY
- Net loss increased to $14,108K from $8,605K YoY
- Currently operating at negative gross margins
Ottawa, Ontario--(Newsfile Corp. - October 28, 2024) - Enablence Technologies Inc. (TSXV: ENA) ("Enablence" or the "Company"), a leading provider of optical chips and sub systems for datacom, telecom, automotive and artificial intelligence (AI) applications has filed its audited financial statements for the fiscal year ending ("Fiscal Year 2024") and related management's discussion and analysis and certifications (collectively, the "Financial Statements"). Electronic copies of the Financial Statements are available on SEDAR (www.sedar.com) under Enablence's issuer profile.
Commenting on the Company's Fiscal Year 2024 performance, Todd Haugen, CEO, Enablence Technologies, stated, "Hyperscale datacenter investments for AI is driving a huge growth cycle for optical semiconductors. We believe the first half of FY2024, a challenging year for the entire optical industry, represented the bottoming of the cycle, with the second half rebounding showing significant improvement - most notably Q4 saw record high wafer sales. Demand generated by AI across all three optical segments, communications, sensing, and compute, is positioning our company for a strong cycle in FY2025 and well into FY2026."
Haugen added, "Our investments in advanced product development and fabrication technology focused on meeting demand for optics in artificial intelligence, datacom, and advanced vision is beginning to show results. We greatly expanded the number of products which support AI focused hyperscale datacenter demand, as well as traditional optical communications applications, where our leading power efficiency and heat dissipation offer major advantages.
"Critically, we have increased our addressable market to include high growth optical sensing and optical compute applications. Optical sensing applications in automotive, medical and aerospace are powering new opportunities for our semiconductors with important design in projects with several LiDAR suppliers. Additionally, the intensive matrix multiplication demands of AI has led to the release of commercial optical compute products as well as high bandwidth, NxN optical connectivity within the rack. In FY2025, the first commercially available AI accelerator rack mounted products built with Enablence chips will hit the market opening the door to broad adoption of our chips in rack and server applications. Our pipeline across all three lines of business communications, sensing and compute products is strong. This supports our strategic growth plan to expand legacy optical communications while growing our market in optical sensing and optical compute with new advanced products."
Financial Highlights
Enablence is pleased to provide the following highlights for Fiscal Year 2024 (all dollar figures are expressed in thousands of United States dollars):
Revenue for the year ended June 30, 2024, was
The Company generated net loss of
Investors injected over
Commenting on the Fiscal Year 2024 Highlights, CFO Stan Besko said: "The losses this year will prove to be an inflection point for the Company's path to growth and profitability."
Outlook
Based on the Company's current business outlook, management expects the overall performance for Fiscal Year 2025 to be as follows:
- In fiscal year 2025, revenue is expected to be
$5.5M +/- .5M, representing over300% year-over-year (YoY) growth. - Based on current projections, we expect to become gross margin positive in Q3 FY2025.
- Investments in fab upgrades will greatly expand capacity from 100 wafer starts per week to 700 wafers per week in FY2025, helping meet demand.
- AI demand is accelerating the rollout of hyperscale datacenters with industry estimates putting investments at
$250b this year greatly increasing demand for our products. AI demands for high bandwidth communications, precise data, and efficient matrix multiplication, we believe will drive our business across optical communications, optical sensing, and optical compute market segments well into the future.
The "Financial Highlights" above are qualified in their entirety by the Financial Statements, which are available on SEDAR (www.sedar.com) under Enablence's issuer profile. For additional information on the Company, please refer to the investor presentation of the Company, which is available on Enablence's website (www.enablence.com/investors) in the "Corporate - Investors" tab.
About Enablence Technologies Inc.
Enablence is a publicly traded company listed on the TSX Venture Exchange (TSXV: ENA) that designs, markets and sells optical chips and sub systems, primarily in the form of planar lightwave circuits (PLC), on silicon-based chips for datacom, telecom, automotive and artificial intelligence (AI) applications. Enablence products serve a global customer base, primarily focused today on data center and other rapidly growing end markets. Enablence also works with customers that have emerging market uses for its technology, including medical devices, automotive LiDAR, and virtual and augmented reality headsets. In select strategic circumstances, the Company also uses its proprietary, non-captive fabrication plant in Fremont, California to manufacture chips designed by third party customers. For more information, visit: www.enablence.com.
For more information contact:
Stan Besko, MBA, CFO
Enablence Technologies Inc.
stan.besko@enablence.com
Todd Haugen, CEO
Enablence Technologies Inc.
todd.haugen@enablence.com
Ali Mahdavi
Capital Markets & Investor Relations
am@spinnakercmi.com
Media and Analysts
Alison Parnell
Hill and Kincaid Marketing & PR
press@hillandkincaid.com
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. Any statements contained herein that are not statements of historical facts may be deemed to be forward- looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. These statements are based on current expectations that involve several risks and uncertainties which could cause actual results to differ from those anticipated. Although the Company believes that the expectations reflected in the forward-looking statements contained in this news release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. We caution our readers of this news release not to place undue reliance on our forward-looking statements as a few factors could cause actual results or conditions to differ materially from current expectations. Additional information on these and other factors that could affect the Company's operations are set forth in the Company's continuous disclosure documents that can be found on SEDAR (www.sedar.com) under Enablence's issuer profile.
Enablence does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether because of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228156
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