Eddy Smart Home Solutions Ltd. Announces Q4/2024 Financial Results
Eddy Smart Home Solutions (TSXV: EDY) has reported its Q4 and full-year 2024 financial results, showing significant operational improvements. The company increased its in-building devices by 46% to 109,816 units and grew its contracted sales backlog to $38.7 million.
Financial highlights include a reduced Q4 net loss of $927,413 (compared to $4.4M in Q4 2023), and full-year revenue growth of 11% to $3.78M. Recurring billings showed strong growth, increasing by 34% to $787,122 in Q4. The company successfully repaid its working capital facility of $5.59M and converted its Credit Facility into common shares, strengthening its balance sheet.
Cost management efforts resulted in a 40% reduction in annual G&A expenses to $4.35M. The company secured a new $1M revolving credit facility in January 2025 for inventory purchases.
Eddy Smart Home Solutions (TSXV: EDY) ha comunicato i risultati finanziari del quarto trimestre e dell'intero anno 2024, evidenziando notevoli miglioramenti operativi. L'azienda ha incrementato i dispositivi installati negli edifici del 46%, raggiungendo 109.816 unità, e ha aumentato il portafoglio ordini contrattualizzati a 38,7 milioni di dollari.
I dati finanziari salienti mostrano una riduzione della perdita netta nel quarto trimestre a 927.413 dollari (rispetto ai 4,4 milioni di dollari del Q4 2023) e una crescita del fatturato annuo dell’11%, arrivando a 3,78 milioni di dollari. Le fatturazioni ricorrenti hanno registrato una forte crescita, aumentando del 34% a 787.122 dollari nel Q4. L’azienda ha estinto con successo la linea di credito per il capitale circolante di 5,59 milioni di dollari e ha convertito la sua linea di credito in azioni ordinarie, rafforzando il bilancio.
Le iniziative di gestione dei costi hanno portato a una riduzione del 40% delle spese generali e amministrative annuali, che sono scese a 4,35 milioni di dollari. Inoltre, la società ha ottenuto una nuova linea di credito revolving da 1 milione di dollari a gennaio 2025 per l’acquisto di inventario.
Eddy Smart Home Solutions (TSXV: EDY) ha informado sus resultados financieros del cuarto trimestre y del año completo 2024, mostrando mejoras operativas significativas. La compañía aumentó sus dispositivos instalados en edificios en un 46%, alcanzando 109,816 unidades, y incrementó su cartera de ventas contratadas a 38.7 millones de dólares.
Los aspectos financieros destacados incluyen una reducción de la pérdida neta en el cuarto trimestre a 927,413 dólares (comparado con 4.4 millones en el Q4 de 2023) y un crecimiento anual de ingresos del 11%, llegando a 3.78 millones de dólares. Las facturaciones recurrentes mostraron un fuerte crecimiento, aumentando un 34% a 787,122 dólares en el Q4. La compañía pagó exitosamente su línea de capital de trabajo de 5.59 millones de dólares y convirtió su línea de crédito en acciones comunes, fortaleciendo su balance.
Los esfuerzos de gestión de costos resultaron en una reducción del 40% en los gastos generales y administrativos anuales, bajando a 4.35 millones de dólares. Además, la empresa aseguró una nueva línea de crédito revolvente de 1 millón de dólares en enero de 2025 para la compra de inventario.
Eddy Smart Home Solutions (TSXV: EDY)는 2024년 4분기 및 연간 재무 결과를 발표하며 운영 성과가 크게 개선되었음을 보여주었습니다. 회사는 건물 내 설치된 기기 수를 46% 증가시켜 109,816대에 달했으며, 계약된 매출 잔고를 3,870만 달러로 늘렸습니다.
재무 하이라이트로는 4분기 순손실이 927,413달러로 감소(2023년 4분기 440만 달러 대비)했으며, 연간 매출은 11% 증가하여 378만 달러를 기록했습니다. 반복 청구액은 4분기에 34% 증가한 787,122달러로 강한 성장세를 보였습니다. 회사는 559만 달러의 운전자본 대출을 성공적으로 상환하고, 신용 대출을 보통주로 전환하여 재무구조를 강화했습니다.
비용 관리 노력으로 연간 일반관리비가 40% 감소하여 435만 달러가 되었으며, 2025년 1월에는 재고 구매를 위한 100만 달러 규모의 신규 회전 신용 한도를 확보했습니다.
Eddy Smart Home Solutions (TSXV : EDY) a publié ses résultats financiers du quatrième trimestre et de l'année complète 2024, montrant des améliorations opérationnelles significatives. L'entreprise a augmenté ses dispositifs installés dans les bâtiments de 46%, atteignant 109 816 unités, et a fait croître son carnet de commandes à 38,7 millions de dollars.
Les points financiers clés incluent une réduction de la perte nette au quatrième trimestre à 927 413 dollars (contre 4,4 millions au T4 2023) et une croissance du chiffre d'affaires annuel de 11% à 3,78 millions de dollars. Les facturations récurrentes ont connu une forte hausse, augmentant de 34% à 787 122 dollars au T4. L'entreprise a remboursé avec succès sa facilité de fonds de roulement de 5,59 millions de dollars et a converti sa facilité de crédit en actions ordinaires, renforçant ainsi son bilan.
Les efforts de gestion des coûts ont permis une réduction de 40% des frais généraux annuels, qui sont passés à 4,35 millions de dollars. Par ailleurs, la société a obtenu une nouvelle facilité de crédit renouvelable d’un million de dollars en janvier 2025 pour l’achat de stocks.
Eddy Smart Home Solutions (TSXV: EDY) hat seine Finanzzahlen für das vierte Quartal und das Gesamtjahr 2024 veröffentlicht und dabei bedeutende operative Verbesserungen gezeigt. Das Unternehmen steigerte die Anzahl der installierten Geräte in Gebäuden um 46% auf 109.816 Einheiten und erhöhte den Auftragseingang auf 38,7 Millionen US-Dollar.
Zu den finanziellen Highlights zählen ein reduzierter Nettoverlust im vierten Quartal von 927.413 US-Dollar (im Vergleich zu 4,4 Mio. US-Dollar im Q4 2023) sowie ein Umsatzwachstum von 11% im Gesamtjahr auf 3,78 Mio. US-Dollar. Die wiederkehrenden Rechnungen wuchsen im vierten Quartal stark um 34% auf 787.122 US-Dollar. Das Unternehmen tilgte erfolgreich seine Betriebskapitalfazilität in Höhe von 5,59 Mio. US-Dollar und wandelte seine Kreditfazilität in Stammaktien um, was die Bilanz stärkte.
Die Kosteneinsparungen führten zu einer 40%igen Reduzierung der jährlichen Verwaltungs- und Gemeinkosten auf 4,35 Mio. US-Dollar. Zudem sicherte sich das Unternehmen im Januar 2025 eine neue revolvierende Kreditfazilität von 1 Mio. US-Dollar für den Lagerbestand.
- 46% increase in in-building devices to 109,816 units
- 11% revenue growth to $3.78M in 2024
- 34% increase in Q4 recurring billings to $787,122
- 40% reduction in G&A expenses, saving nearly $3M annually
- Significant net loss improvement by $6.92M in 2024
- Full repayment of $5.59M working capital facility
- New $1M revolving credit facility secured for inventory
- Continuing net loss of $927,413 in Q4 2024
- Annual net loss of $3.65M despite improvements
- 12% interest rate on new revolving credit facility
Toronto, Ontario--(Newsfile Corp. - April 25, 2025) - Eddy Smart Home Solutions Ltd. (TSXV: EDY) ("Eddy" or the "Company") is pleased to announce its financial results for the three and twelve months ended December 31, 2024.
2024 Highlights
Growth in In-Building Devices and Contract Revenue
A key operating metric of the Company's progress and the value of the business can be measured by both the existing contracted revenue and the growth of the contracted sales backlog.
Eddy has increased the number of in-building devices by
The Company's contracted sales backlog continued to grow and during 2024 and now stands at approximately
Debt Facilities Repayments
On July 15, 2024, the Company repaid in full the amount owed under the working capital facility amounting to
Reduced Expenses
For the three months ended December 31, 2024, Eddy has significantly reduced its general and administrative (G&A) expenses by
For the year ended December 31, 2024, G&A expenses decreased by almost
Improved Financial Performance
For the three months ended December 31, 2024, Eddy has significantly reduced its net loss to (
For the year ended December 31, 2024, the net loss was (
The 2024, year-to-date improvement reflects higher revenue, enhanced operational efficiencies, and reduced expenses. The average net loss per month was (
Revenue
For the three months ended December 31, 2024, revenue was
Recurring Billings
Billings represent the amount billed to customers for monthly monitoring and equipment rentals.
For the three months ended December 31, 2024, the recurring billings amounted to
For the year ended December 31, 2024, the recurring billings amounted to
Basic and Diluted Loss Per Share
Basic and diluted loss per share for the three months ended December 31, 2024, was (
On June 28, 2024, the Company completed a non-brokered private placement of 5,333,333 post-consolidation common shares and the prior period share amounts have been retrospectively adjusted to reflect the (100:1) Share Consolidation.
As at December 31, 2024, 6,128,623 (December 31, 2023 - 795,290) Common Shares were issued and outstanding.
Subsequent Events
On January 17, 2025, the Company entered into a loan agreement with a non-arm's length private lender for a
On April 1, 2025, the Company announced that it had granted 36,300 stock options to the officers, 116,400 restricted share units (RSUs) to the directors and 306,431 performance share units (PSUs) to an officer of the Company. The Company has also granted an additional 185,101 stock options to employees of the Company. The stock options are each exercisable at a price of
About Eddy
Eddy is a leading North American provider and developer of smart water metering products and monitoring services for commercial and residential properties. Eddy's solutions help property owners and developers protect, control, and conserve water usage through advanced sensing devices and behavioral learning software. For more information, visit www.eddysolutions.com.
For further details on the company's financial performance, please review our consolidated financial statements and management's discussion and analysis for the years ended December 31, 2023, and 2022, available on Eddy's SEDAR profile at www.sedar.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements reflect management's current expectations and are based on assumptions and estimates that involve risks and uncertainties. Actual results may differ materially from those anticipated in the forward-looking statements. Factors that could cause actual results to differ are discussed in the company's most recent management's discussion and analysis under "Risks And Uncertainties," available at www.sedar.com. Eddy undertakes no obligation to update these statements, except as required by law.
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.
For further information, please contact:
Mark Silver
Executive Chairman and Chief Executive Officer
Tel: 416.221.8998
Email: ir@eddysolutions.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249874
FAQ
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