Wi2Wi Corporation Announces Three Months Ending September 30, 2024 (Unaudited)
Wi2Wi (TSXV:YTY) announced its Q3 2024 unaudited financial results, reporting revenues of $1.709 million, a 20% increase compared to Q3 2023. The company's gross margin improved from 16% in Q2 to 27% in Q3, driven by optimized product mix and cost efficiencies. However, the company recorded a net loss of $78,000, though improved from a $355,000 loss in Q3 2023. Cash position decreased to $467,000 from $1,012,000 year-over-year, while total assets increased to $9,224,000 from $7,568,000.
Wi2Wi (TSXV:YTY) ha annunciato i risultati finanziari non auditati per il Q3 2024, riportando ricavi di 1,709 milioni di dollari, un aumento del 20% rispetto al Q3 2023. Il margine lordo dell'azienda è migliorato dal 16% nel Q2 al 27% nel Q3, grazie a un mix di prodotti ottimizzato e a efficienze di costo. Tuttavia, l'azienda ha registrato una perdita netta di 78.000 dollari, sebbene migliorata rispetto a una perdita di 355.000 dollari nel Q3 2023. La posizione di liquidità è diminuita a 467.000 dollari rispetto a 1.012.000 dollari rispetto all'anno precedente, mentre il totale delle attività è aumentato a 9.224.000 dollari rispetto a 7.568.000 dollari.
Wi2Wi (TSXV:YTY) anunció sus resultados financieros no auditados del Q3 2024, reportando ingresos de 1.709 millones de dólares, un aumento del 20% en comparación con el Q3 2023. El margen bruto de la empresa mejoró del 16% en el Q2 al 27% en el Q3, impulsado por una mezcla de productos optimizada y eficiencias en costos. Sin embargo, la empresa registró una pérdida neta de 78.000 dólares, aunque mejoró respecto a una pérdida de 355.000 dólares en el Q3 2023. La posición de efectivo disminuyó a 467.000 dólares desde 1.012.000 dólares interanualmente, mientras que el total de activos aumentó a 9.224.000 dólares desde 7.568.000 dólares.
Wi2Wi (TSXV:YTY)는 2024년 3분기 감사되지 않은 재무 결과를 발표하며 170.9만 달러의 수익을 보고했습니다. 이는 2023년 3분기 대비 20% 증가한 수치입니다. 회사의 총 이익률은 2분기 16%에서 3분기 27%으로 개선되었으며, 이는 최적화된 제품 믹스와 비용 효율화에 힘입은 바입니다. 그러나 회사는 78,000 달러의 순손실을 기록했지만, 이는 2023년 3분기 355,000 달러의 손실보다 개선된 수치입니다. 현금 보유액은 작년 대비 1,012,000 달러에서 467,000 달러로 감소했으며, 총 자산은 7,568,000 달러에서 9,224,000 달러로 증가했습니다.
Wi2Wi (TSXV:YTY) a annoncé ses résultats financiers non audités pour le T3 2024, rapportant des revenus de 1,709 millions de dollars, soit une augmentation de 20 % par rapport au T3 2023. La marge brute de l'entreprise a progressé de 16 % au T2 à 27 % au T3, grâce à un mix produit optimisé et des économies de coûts. Cependant, l'entreprise a enregistré une perte nette de 78 000 dollars, bien qu'elle soit améliorée par rapport à une perte de 355 000 dollars au T3 2023. Sa position de trésorerie a diminué à 467 000 dollars contre 1 012 000 dollars d'une année sur l'autre, tandis que l'actif total a augmenté à 9 224 000 dollars contre 7 568 000 dollars.
Wi2Wi (TSXV:YTY) gab die nicht testierten Finanzergebnisse für das 3. Quartal 2024 bekannt und berichtete von Einnahmen in Höhe von 1,709 Millionen Dollar, was einem Anstieg von 20% im Vergleich zum 3. Quartal 2023 entspricht. Die Bruttomarge des Unternehmens verbesserte sich von 16% im Q2 auf 27% im Q3, was auf eine optimierte Produktmix und Kosteneffizienz zurückzuführen ist. Das Unternehmen verzeichnete jedoch einen Nettoverlust von 78.000 Dollar, was eine Verbesserung gegenüber einem Verlust von 355.000 Dollar im 3. Quartal 2023 darstellt. Die Liquiditätsposition sank von 1.012.000 Dollar auf 467.000 Dollar im Jahresvergleich, während die Gesam assets von 7.568.000 Dollar auf 9.224.000 Dollar anstiegen.
- Revenue increased 20% year-over-year to $1.709 million
- Gross margin improved from 16% to 27% quarter-over-quarter
- Net loss reduced significantly from $355,000 to $78,000 year-over-year
- Total assets increased from $7.568 million to $9.224 million
- Negative operating cash flow of $212,000 compared to positive $183,000 in Q3 2023
- Cash on hand decreased by 54% to $467,000 from $1.012 million
- Shareholders' equity declined from $4.280 million to $3.306 million
Company Focused on Top-Line Growth and Business Efficiencies
TORONTO, ON / ACCESSWIRE / November 14, 2024 / Wi2Wi Corporation (TSXV:YTY), a leading supplier of frequency control solutions, today announced its unaudited financial results for the third quarter ended September 30, 2024. The company reported revenues of
Key Financial Highlights
"Our Q3 results demonstrate the progress we're making on our path to increased revenue and profitability," said Ted Clark, CEO of Wi2Wi Corporation. "We have strengthened our gross margins and continue to focus on both top-line growth and operational efficiencies. These improvements reflect our team's commitment to delivering the highest quality products and driving value for our shareholders. Moving forward, we are expanding our footprint in high-growth sectors and building partnerships that will support sustained growth."
Wi2Wi continues to expand its network of manufacturing representatives and distribution partners as part of the ongoing top line growth strategy. With an unwavering commitment to quality and customer satisfaction, Wi2Wi remains dedicated to delivering exceptional products and services. The company's clear strategic vision and proactive approach to growth continue to drive substantial business improvement, making Wi2Wi well-positioned for future success.
3 Months ending September 30, 2024 Overview (Unaudited)
(In thousands of U.S. dollars) |
| Quarter 3 2024 |
|
| Quarter 3 2023 |
| ||
Revenue |
| $ | 1,709 |
|
| $ | 1,421 |
|
Net income (loss) |
|
| (78 | ) |
|
| (355 | ) |
Net cash provided by (used in) operations |
|
| (212 | ) |
|
| 183 |
|
Total assets |
|
| 9,224 |
|
|
| 7,568 |
|
Cash on hand |
|
| 467 |
|
|
| 1,012 |
|
Total current liabilities |
|
| 1,286 |
|
|
| 1,222 |
|
Shareholders' equity |
|
| 3,306 |
|
|
| 4,280 |
|
Detailed and historical financial information is available here.
Investor & Media Contact
Ted Clark, Chief Executive Office
+1-469-545-3423
ted_c@wi2wi.com
About Wi2Wi Corporation
Wi2Wi is a specialized electronic component supplier with expertise in all aspects of frequency control devices as well as in wireless technologies. Wi2Wi's Precision Devices brand of products has earned a premier spot in numerous key markets including avionics, aerospace, industrial equipment, government, and the US military. Wi2Wi's frequency control products are best-in-class and of the highest quality.
Founded in 2005, Wi2Wi's headquarters, design center and state-of-the-art manufacturing facility are located in the heart of America's industrial belt in Middleton, WI. Wi2Wi can deliver specific solutions using its in-house design and manufacturing expertise, as well as leveraging many tier-1 global partnerships with numerous industry leading silicon and wireless technology suppliers.
Wi2Wi has partnered with best-in-class sales leaders. The company uses a global network of manufacturer's representatives to promote its products and services, and has partnered with world class distributors for the fulfillment of orders all of which augment a US-based direct sales team.
Wi2Wi is extremely proud to serve hundreds of the world's top companies with its made-in-America products.
Forward-Looking Statements: This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with the ability to access sufficient capital, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, stock market volatility. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward- looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Wi2Wi Corp.
View the original press release on accesswire.com
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