Hamilton Thorne Reports Revenue for the Quarter and Nine Months Ended September 30, 2024
Hamilton Thorne reported strong Q3 2024 financial results with revenue growing 24% to $19.4 million and Adjusted EBITDA increasing 72% to $3.7 million. The company achieved 14% organic growth for the quarter, with equipment sales up 20% and consumables, software, and services growing over 27%. Despite posting a net loss of $1.18 million for the quarter, gross profit increased 27% to $9.7 million. The company generated $3.5 million in operating cash flow for the nine months and maintains $6.9 million cash on hand. Management confirmed 2024 guidance with expected sales between $78-82 million, representing 10-15% organic growth. The company expects to complete its going private transaction on November 29, 2024.
Hamilton Thorne ha riportato forti risultati finanziari per il terzo trimestre del 2024, con un aumento del fatturato del 24% a 19,4 milioni di dollari e un EBITDA rettificato in crescita del 72% a 3,7 milioni di dollari. L'azienda ha registrato una crescita organica del 14% per il trimestre, con le vendite di attrezzature in crescita del 20% e i materiali di consumo, il software e i servizi aumentati di oltre il 27%. Nonostante un perdita netta di 1,18 milioni di dollari per il trimestre, l'utile lordo è aumentato del 27%, raggiungendo 9,7 milioni di dollari. L'azienda ha generato 3,5 milioni di dollari di flusso di cassa operativo nei nove mesi e mantiene 6,9 milioni di dollari di liquidità. La direzione ha confermato le previsioni per il 2024, con vendite attese tra 78 e 82 milioni di dollari, corrispondenti a una crescita organica del 10-15%. L'azienda prevede di completare la sua transazione di privatizzazione il 29 novembre 2024.
Hamilton Thorne reportó sólidos resultados financieros para el tercer trimestre de 2024, con un crecimiento de ingresos del 24% a 19.4 millones de dólares y un EBITDA ajustado que aumentó un 72% a 3.7 millones de dólares. La compañía logró un crecimiento orgánico del 14% durante el trimestre, con ventas de equipos en aumento del 20% y consumibles, software y servicios que crecieron más del 27%. A pesar de reportar una pérdida neta de 1.18 millones de dólares para el trimestre, la utilidad bruta aumentó un 27% a 9.7 millones de dólares. La compañía generó 3.5 millones de dólares en flujo de caja operativo durante los nueve meses y mantiene 6.9 millones de dólares en efectivo. La dirección confirmó las proyecciones para 2024, con ventas esperadas entre 78 y 82 millones de dólares, lo que representa un crecimiento orgánico del 10-15%. La compañía espera completar su transacción de privatización el 29 de noviembre de 2024.
해밀턴 소너는 2024년 3분기 재무 결과가 좋다고 보고하며, 수익이 24% 증가하여 1940만 달러에 이르고, 조정된 EBITDA는 72% 증가하여 370만 달러에 도달했다고 합니다. 이 회사는 분기 동안 14%의 유기적 성장을 달성했으며, 장비 판매는 20% 증가했고, 소비재, 소프트웨어, 서비스는 27% 이상 성장했습니다. 분기 동안 118만 달러의 순손실을 기록했음에도 불구하고, 총 이익은 27% 증가하여 970만 달러에 이르렀습니다. 이 회사는 9개월 동안 350만 달러의 운영 현금 흐름을 창출했으며, 690만 달러의 현금을 보유하고 있습니다. 경영진은 2024년 예상 매출을 7800만~8200만 달러로 확인했으며, 이는 10-15%의 유기적 성장을 나타냅니다. 이 회사는 2024년 11월 29일에 비상장 거래를 완료할 것으로 예상합니다.
Hamilton Thorne a annoncé de solides résultats financiers pour le troisième trimestre 2024, avec une croissance des revenus de 24% atteignant 19,4 millions de dollars et un EBITDA ajusté en hausse de 72% à 3,7 millions de dollars. L'entreprise a réalisé une croissance organique de 14% pour le trimestre, avec des ventes d'équipements en hausse de 20% et des consommables, logiciels et services en croissance de plus de 27%. Bien qu'un perte nette de 1,18 million de dollars ait été enregistrée pour le trimestre, le bénéfice brut a augmenté de 27% pour atteindre 9,7 millions de dollars. L'entreprise a généré 3,5 millions de dollars de flux de trésorerie opérationnels au cours des neuf mois et possède 6,9 millions de dollars de liquidités. La direction a confirmé les prévisions de 2024 avec des ventes attendues entre 78 et 82 millions de dollars, représentant une croissance organique de 10-15%. L'entreprise prévoit de finaliser sa transaction de privatisation le 29 novembre 2024.
Hamilton Thorne meldete starke finanzielle Ergebnisse für das dritte Quartal 2024, mit einem Umsatzwachstum von 24% auf 19,4 Millionen Dollar und einem um 72% steigenden adjustierten EBITDA auf 3,7 Millionen Dollar. Das Unternehmen erzielte ein organisches Wachstum von 14% im Quartal, wobei die Geräteeinnahmen um 20% stiegen und Verbrauchsmaterialien, Software und Dienstleistungen um über 27% wuchsen. Trotz eines Nettorückstands von 1,18 Millionen Dollar im Quartal stieg der Bruttogewinn um 27% auf 9,7 Millionen Dollar. Das Unternehmen generierte in den neun Monaten einen operativen Cashflow von 3,5 Millionen Dollar und verfügt über 6,9 Millionen Dollar an liquiden Mitteln. Das Management bestätigte die Prognose für 2024 mit einem erwarteten Umsatz von 78 bis 82 Millionen Dollar, was ein organisches Wachstum von 10-15% darstellt. Das Unternehmen erwartet, seine Transaktion zum Verlassen des Aktienmarkts am 29. November 2024 abzuschließen.
- Revenue increased 24% YoY to $19.4 million in Q3
- Adjusted EBITDA grew 72% to $3.7 million
- Gross profit increased 27% to $9.7 million
- Strong organic growth of 14% in Q3
- Operating cash flow improved to $3.5 million from $1.4 million YoY
- Net loss widened to $1.18 million in Q3 from $785,000 in prior year
- Working capital decreased to $15.77 million from $17.64 million at year-end 2023
- Cash position declined to $6.85 million from $9.73 million at year-end 2023
Revenue of
Beverly, Massachusetts and Toronto, Ontario--(Newsfile Corp. - November 14, 2024) - Hamilton Thorne Ltd. (TSX: HTL), a leading provider of precision instruments, laboratory equipment, consumables, software, and services to the Assisted Reproductive Technologies (ART), research, and cell biology markets, today reported unaudited condensed interim financial results for the quarter and nine months ended September 30, 2024.
Financial Highlights
Sales increased
24% year over year to$19.4 million for the quarter; sales for the nine-month period increased19% to$57.9 million ; sales increased22% for the quarter and18% for the nine-month period on a constant currency basisGross profit increased
27% to$9.7 million for the quarter; and increased of20% to$29.7 million for the nine-month periodNet loss was
$1,181 thousand for the quarter and$2,631 thousand for the nine-month period, versus net loss of$785 thousand and$1,147 thousand in the prior year periodsAdjusted EBITDA increased
72% to$3.7 million for the quarter and increased34% to$10.4 million for the nine-month periodOrganic sales growth was
14% for the quarter and12% for the nine-month periodCash generated from operations was
$3.5 million in the nine-month; total cash on hand at September 30, 2024 was$6.9 million Confirming guidance for the full 2024 with sales range between
$78 and$82 million , representing 10-15% organic growth.
Dr. Kate Torchilin, Chief Executive Officer of Hamilton Thorne Ltd. commented, "We are pleased to report a strong third quarter with revenue growth of
Adjusted EBITDA increased
Cash generated by operations was
Key Financial Data and Comparative Results
| Three- and Nine-Month Periods Ending September 30 | ||||||||||||||||||||
| Three Months | Nine Months | |||||||||||||||||||
| Statements of Operations: | 2024 | 2023 | 2024 | 2023 | ||||||||||||||||
| Sales | $ | 19,380,534 | $ | 15,655,622 | $ | 57,855,782 | $ | 48,781,825 | ||||||||||||
| Gross profit | 9,749,396 | 7,675,207 | 29,661,250 | 24,658,643 | ||||||||||||||||
| Operating expenses | 10,129,492 | 8,428,819 | 30,294,772 | 25,317,299 | ||||||||||||||||
| Net income (loss) | (1,180,938 | ) | (785,247 | ) | (2,756,503 | ) | (1,147,259 | ) | ||||||||||||
| Adjusted EBITDA | 3,706,785 | 2,155,120 | 10,446,208 | 7,821,073 | ||||||||||||||||
| Basic earnings per share | ( | ) | ( | ) | ( | ) | $ | 0.00 | ||||||||||||
| Diluted earnings per share | ( | ) | ( | ) | ( | ) | $ | 0.00 | ||||||||||||
| Statements of Financial Position as at: | September. 30, 2024 | Dec. 31, 2023 | ||||||||||
| Cash | $ | 6,853,565 | $ | 9,734,607 | ||||||||
| Working capital | 15,769,535 | 17,643,555 | ||||||||||
| Total assets | 108,718,108 | 109,277,073 | ||||||||||
| Non-current liabilities | 24,757562 | 27,595,111 | ||||||||||
| Shareholders' equity | 65,321,575 | 64,651,380 | ||||||||||
All amounts are in US dollars, unless specified otherwise, and results, with the exception of Adjusted EBITDA, are expressed in accordance with the International Financial Reporting Standards ("IFRS").
See the Company's Management Discussion and Analysis for the periods covered for further information and a reconciliation of Adjusted EBITDA to Net Income.
Outlook and Transaction Update
Dr. Torchilin stated, "We continue to be on track to achieve double digit organic growth in 2024. We are confirming our guidance for the full twelve months of 2024, as we anticipate delivering between
Dr. Torchilin continued, "As previously reported, we have satisfied the major conditions to the completion of our going private transaction and now expect to close on November 29, 2024. I would like to thank our shareholders, many of whom have been with us for many years, for the trust and confidence that you have place in management and the support you have provided our Company."
See the Company's Management Discussion and Analysis for the periods covered for further information and a reconciliation of Adjusted EBITDA to Net Income.
The press release, with accompanying financial information, will be posted on the Company's website at www.hamiltonthorne.ltd and on www.sedarplus.ca..
About Hamilton Thorne Ltd. (www.hamiltonthorne.ltd)
Hamilton Thorne is a leading global provider of precision instruments, laboratory equipment, consumables, software, and services that reduce cost, increase productivity, improve results, and enable breakthroughs in Assisted Reproductive Technologies (ART), research, and cell biology markets. Hamilton Thorne markets its products and services under the Hamilton Thorne, Gynemed, Planer, Tek-Event, IVFtech, Microptic, Gynetics, and Embryotech Laboratories brands, through its growing sales force and distributors worldwide. Hamilton Thorne Ltd.'s customer base consists of fertility clinics, university research centers, animal breeding facilities, pharmaceutical companies, biotechnology companies, and other commercial and academic research establishments.
The Company has included Adjusted EBITDA, Organic Growth, and Constant Currency as non-IFRS measures, which are used by management as measures of financial performance. See section entitled "Use of Non-IFRS Measures" and "Results of Operations" in the Company's Management Discussion and Analysis for the periods covered for further information and a reconciliation of Adjusted EBITDA to Net Income.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.
For more information, please contact:
Kate Torchilin, President & CEO
Hamilton Thorne Ltd.
978-921-2050
ir@hamiltonthorne.ltd
Francesco Fragasso, CFO
Hamilton Thorne Ltd.
978-921-2050
ir@hamiltonthorne.ltd
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229915
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