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iFabric Corp (IFABF) delivers cutting-edge textile solutions for performance apparel and intelligent fabrics. This news hub provides investors and industry professionals with essential updates on the company developments shaping advanced textile technologies.
Access consolidated reports on earnings announcements, product innovations, and strategic partnerships. Track regulatory milestones including FDA-cleared antimicrobial treatments and EPA-registered fabric technologies that reinforce iFabric's market leadership.
Key updates cover advancements in medical protective gear, high-performance sports apparel, and intimate wear innovations. Stay informed about licensing agreements, material science breakthroughs, and North American market expansions through verified press releases.
Bookmark this page for streamlined access to iFabric's latest progress in smart textile development. Check regularly for authoritative updates directly impacting the performance apparel and technical fabrics sector.
iFabric Corp (IFABF) has announced two significant financial developments: First, the acquisition of the remaining 25% stake in its Markham, Ontario warehouse property subsidiary through a CDN$3.7 million mortgage financing from BMO. This financing will also be used to repay existing secured and minority shareholder loans.
Second, the company has secured a new banking agreement with BMO that increases its revolving operating credit facility from $6.75 million to $12 million. The facility, currently unutilized, is secured by company assets including a mortgage on the Markham property, which was recently valued at approximately $12 million.
iFabric Corp (IFABF) reported record financial results for Q4 and full year 2024. Q4 revenues reached a record $10.5 million, up 55% year-over-year, driven by new apparel programs. The company achieved Q4 gross profit of $4.17 million (40% margin) and Adjusted EBITDA of $1.9 million, a 636% increase.
For full-year 2024, revenues totaled $27.3 million, with the Intelligent Fabrics division growing 25% and Intimate Apparel division up 11% on a proportionate basis. Net earnings were $1.63 million ($0.054 per share) compared to a loss in 2023. Working capital improved to $19.6 million, with cash position strengthening to $2.06 million.
The company maintains a strong financial position with an unutilized $6.75 million bank operating line and expects continued double-digit sales growth in 2025, supported by new product categories and strong baseline sales from core programs.
iFabric Corp (TSX:IFA, OTCQX:IFABF) has reported its fifth consecutive year of revenue growth, with the last two years showing strong double-digit increases. The company achieved record revenues exceeding $27 million in full-year 2024, representing a 20% increase from the previous year.
Despite the strong performance, revenues fell slightly under $1 million below management's target range due to the Vancouver Port strike affecting Q4 deliveries. Nevertheless, Q4 2024 marked the largest single-quarter performance in the company's history. The delayed shipments are scheduled for delivery in Q1 2025.
iFabric Corp reported Q3 2024 results with revenues decreasing 11% to $4.28M compared to $4.81M in 2023. The Intelligent Fabric Division saw a 29% revenue decrease, while the Intimate Apparel Division grew 42%. Gross profit margin improved to 41% from 37%. The company maintains its FY2024 outlook of $28M-$32M, with Q4 revenue expected to exceed $11M. A potential Vancouver port strike could impact Q4 deliveries. Working capital stood at $17.5M, with cash increasing to $4.09M. The company reported a net loss of $105,616 ($0.003 per share) compared to $139,545 loss in 2023.
iFabric Corp (TSX:IFA, OTCQX:IFABF) reported record revenues and strong performance for Q2 2024 ended June 30. Key highlights include:
- Record revenues of $5,796,220, up 10% year-over-year
- Intelligent Fabrics Division revenues increased 20% to $3,499,504
- Gross profit margin improved to 42% from 40% in 2023
- Adjusted EBITDA rose to $356,817 from $260,415 in 2023
- Net earnings of $56,103 or $0.002 per share
The company attributes its success to innovation, strategic growth, and a focus on leveraging advanced technologies. iFabric maintains a strong financial position with $17.7 million in working capital and $2.95 million in cash. Management remains confident in sustained growth and delivering shareholder value.
On June 25, 2024, iFabric held its annual general and special meeting where shareholders approved all presented resolutions.
Key resolutions include the re-election of directors and the approval of unallocated stock options for another three years.
The directors re-elected are Hylton Karon, Hilton Price, Richard Macary, Cameron Groome, Mark Cochran, and Giancarlo Beevis, with an overwhelming majority vote in favor.
BDO Canada LLP has been appointed as the auditors for the next year.
iFabric Corp. (OTCQX:IFABF) reported record revenues and earnings for Q1 2024, ending March 31, 2024. The company achieved total revenues of $6,754,624, a 2% increase from Q1 2023. The Intelligent Fabrics Division saw a 6% boost in revenues to $4,666,289, while the Intimate Apparel Division experienced a 6% decline to $2,088,335. Gross profit margins rose by 4% to 44%, leading to a gross profit increase of 11% to $2,961,122.
Adjusted EBITDA increased by 30% to $855,380, and net earnings after tax grew to $550,596 ($0.018 per share) from $469,419 ($0.015 per share) in Q1 2023. Working capital improved by $859,663 to $17,320,228, and cash reserves rose by $1,889,367 to $3,461,111. The company's bank operating line remained unutilized, offering a $6,750,000 cushion for future growth.
iFabric Corp. received FDA Medical Device Registration for its apparel products integrating multiple textile technologies. The successful registration by its subsidiary, IFTNA, validates the safety and efficacy of the innovative apparel solutions. This achievement allows the company to explore new opportunities in the healthcare industry, positioning itself as a trusted partner for improving outcomes.
