LeddarTech Reports Fiscal First Quarter 2025 Financial Results
LeddarTech Holdings (Nasdaq: LDTC) announced its fiscal Q1 2025 financial results, highlighting significant developments including their first OEM design win from a major commercial vehicle OEM for 2028 model year vehicles. The company received US$8 million in advanced royalty payments from Texas Instruments as part of their collaboration agreement.
Financial highlights for Q1 2025 ending December 31, 2024, show revenue from continuing operations at $51,900, with a net loss of $27.0 million, representing a 56% decrease from the previous year's $61.5 million loss. The company's adjusted EBITDA loss increased by 11% to $11.1 million.
LeddarTech raised US$11.3 million under a standby equity purchase agreement and maintains a robust pipeline of over 30 active opportunities with OEMs and Tier 1 automotive suppliers. As of December 31, 2024, the company's cash and cash equivalents totaled $17.7 million, with approximately $15.9 million as of February 10, 2025.
LeddarTech Holdings (Nasdaq: LDTC) ha annunciato i risultati finanziari del primo trimestre fiscale 2025, evidenziando sviluppi significativi tra cui il primo successo di design OEM da un importante produttore di veicoli commerciali per i veicoli dell'anno modello 2028. L'azienda ha ricevuto 8 milioni di dollari in pagamenti anticipati di royalty da Texas Instruments nell'ambito del loro accordo di collaborazione.
I punti salienti finanziari per il primo trimestre 2025, che si è concluso il 31 dicembre 2024, mostrano un fatturato dalle operazioni continuative di 51.900 dollari, con una perdita netta di 27,0 milioni di dollari, che rappresenta una diminuzione del 56% rispetto alla perdita di 61,5 milioni di dollari dell'anno precedente. La perdita di EBITDA rettificato dell'azienda è aumentata dell'11% a 11,1 milioni di dollari.
LeddarTech ha raccolto 11,3 milioni di dollari tramite un accordo di acquisto di capitale standby e mantiene un robusto portafoglio di oltre 30 opportunità attive con OEM e fornitori automobilistici di livello 1. Al 31 dicembre 2024, la liquidità e le disponibilità liquide dell'azienda ammontavano a 17,7 milioni di dollari, con circa 15,9 milioni a partire dal 10 febbraio 2025.
LeddarTech Holdings (Nasdaq: LDTC) anunció sus resultados financieros del primer trimestre fiscal 2025, destacando desarrollos significativos, incluido su primer éxito de diseño OEM de un importante fabricante de vehículos comerciales para los vehículos del año modelo 2028. La compañía recibió 8 millones de dólares en pagos anticipados de regalías de Texas Instruments como parte de su acuerdo de colaboración.
Los aspectos financieros destacados para el primer trimestre de 2025, que finalizó el 31 de diciembre de 2024, muestran ingresos de las operaciones continuas de 51,900 dólares, con una pérdida neta de 27.0 millones de dólares, lo que representa una disminución del 56% en comparación con la pérdida de 61.5 millones de dólares del año anterior. La pérdida ajustada de EBITDA de la compañía aumentó un 11% a 11.1 millones de dólares.
LeddarTech recaudó 11.3 millones de dólares bajo un acuerdo de compra de capital standby y mantiene un sólido portafolio de más de 30 oportunidades activas con OEM y proveedores automotrices de nivel 1. Al 31 de diciembre de 2024, el efectivo y equivalentes de efectivo de la compañía totalizaban 17.7 millones de dólares, con aproximadamente 15.9 millones a partir del 10 de febrero de 2025.
LeddarTech Holdings (Nasdaq: LDTC)는 2025 회계 연도 1분기 재무 결과를 발표하며, 2028 모델 연도 차량을 위한 주요 상용 차량 OEM으로부터의 첫 번째 OEM 디자인 수주를 포함한 중요한 개발 사항을 강조했습니다. 이 회사는 협력 계약의 일환으로 Texas Instruments로부터 800만 달러의 선급 로열티 지급을 받았습니다.
2024년 12월 31일로 종료된 2025년 1분기 재무 하이라이트는 지속적인 운영에서 51,900달러의 수익을 나타내며, 순손실은 2,700만 달러로, 전년도의 6,150만 달러 손실에 비해 56% 감소했습니다. 회사의 조정된 EBITDA 손실은 11% 증가하여 1,110만 달러에 달했습니다.
LeddarTech는 대기 자본 구매 계약을 통해 1,130만 달러를 조달하였으며, OEM 및 1급 자동차 공급업체와 함께 30개 이상의 활성 기회를 보유하고 있습니다. 2024년 12월 31일 기준으로, 회사의 현금 및 현금성 자산은 1,770만 달러였으며, 2025년 2월 10일 기준으로 약 1,590만 달러입니다.
LeddarTech Holdings (Nasdaq: LDTC) a annoncé ses résultats financiers pour le premier trimestre de l'exercice 2025, mettant en avant des développements significatifs, y compris leur première victoire de conception OEM d'un grand fabricant de véhicules commerciaux pour les véhicules de l'année modèle 2028. L'entreprise a reçu 8 millions de dollars en paiements de redevances anticipés de Texas Instruments dans le cadre de leur accord de collaboration.
Les points saillants financiers pour le premier trimestre de 2025 se terminant le 31 décembre 2024 montrent des revenus des opérations continues de 51 900 dollars, avec une perte nette de 27,0 millions de dollars, représentant une diminution de 56 % par rapport à la perte de 61,5 millions de dollars de l'année précédente. La perte d'EBITDA ajusté de l'entreprise a augmenté de 11 % pour atteindre 11,1 millions de dollars.
LeddarTech a levé 11,3 millions de dollars dans le cadre d'un accord d'achat de capital standby et maintient un solide portefeuille de plus de 30 opportunités actives avec des OEM et des fournisseurs automobiles de niveau 1. Au 31 décembre 2024, la trésorerie et les équivalents de trésorerie de l'entreprise s'élevaient à 17,7 millions de dollars, avec environ 15,9 millions de dollars au 10 février 2025.
LeddarTech Holdings (Nasdaq: LDTC) hat seine finanziellen Ergebnisse für das erste Quartal des Geschäftsjahres 2025 bekannt gegeben und dabei bedeutende Entwicklungen hervorgehoben, darunter den ersten OEM-Designgewinn von einem großen Hersteller von Nutzfahrzeugen für die Modelljahresfahrzeuge 2028. Das Unternehmen erhielt 8 Millionen US-Dollar an Vorauszahlungen für Lizenzgebühren von Texas Instruments im Rahmen ihrer Zusammenarbeit.
Die finanziellen Höhepunkte für das erste Quartal 2025, das am 31. Dezember 2024 endete, zeigen Einnahmen aus fortgeführten Betrieben von 51.900 US-Dollar, mit einem Nettoverlust von 27,0 Millionen US-Dollar, was einem Rückgang von 56% im Vergleich zu einem Verlust von 61,5 Millionen US-Dollar im Vorjahr entspricht. Der bereinigte EBITDA-Verlust des Unternehmens stieg um 11% auf 11,1 Millionen US-Dollar.
LeddarTech hat 11,3 Millionen US-Dollar im Rahmen eines Standby-Eigenkapitalkaufvertrags aufgenommen und verfügt über ein robustes Portfolio von über 30 aktiven Chancen mit OEMs und Tier-1-Automobilzulieferern. Zum 31. Dezember 2024 betrugen die liquiden Mittel und liquiden Mitteläquivalente des Unternehmens 17,7 Millionen US-Dollar, mit etwa 15,9 Millionen US-Dollar zum 10. Februar 2025.
- Secured first OEM design win for 2028 model year vehicles
- Received US$8 million in advanced royalty payments from Texas Instruments
- 56% reduction in net loss compared to previous year (from $61.5M to $27.0M)
- Successfully raised US$11.3 million through equity sales
- Pipeline of over 30 active opportunities with OEMs and Tier 1 suppliers
- Revenue remained flat at ~$52,000 compared to previous year
- Adjusted EBITDA loss increased 11% to $11.1 million
- Continuing operational losses of $13.2 million
- Significant cash burn requiring ongoing capital raising activities
Insights
LeddarTech's Q1 FY2025 results present a complex picture of a company in transition. The headline revenue of $51,900 appears concerning for a company with a $35.3M market cap, but this must be viewed through the lens of their business model transformation. The company is pivoting from hardware to high-margin software solutions, with revenue recognition expected to materialize significantly in future periods.
The secured OEM design win for 2028 model year vehicles represents a important validation of their technology, particularly in the competitive ADAS market. While the revenue impact is delayed, such design wins typically lead to long-term, recurring revenue streams once production begins. The Texas Instruments partnership, yielding $8M in advanced royalties, is especially significant as it provides both immediate capital and strategic validation from a major semiconductor player.
Financial health indicators require careful analysis. The adjusted EBITDA loss of $11.1M represents a
The newly acquired ISO/IEC 27001 certification is particularly strategic, as it removes a potential barrier to adoption by major automotive manufacturers, who typically require this certification from software suppliers. This, combined with their robust opportunity pipeline, positions LeddarTech to potentially capture significant market share in the rapidly growing ADAS software market.
QUEBEC CITY, Canada, Feb. 12, 2025 (GLOBE NEWSWIRE) -- LeddarTech® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision™, today provided a corporate update and announced financial results for the fiscal first quarter ended December 31, 2024.
“2025 is off to a very exciting start for LeddarTech, as we continue to make substantial progress on our strategic plan. In fiscal Q1, we announced our collaboration and license agreement with Texas Instruments (“TI”), a premier semiconductor partner in the automotive space. Following that, we recently announced our first OEM design win from a major commercial vehicle OEM,” said Frantz Saintellemy, President and CEO of LeddarTech. “These commercial successes demonstrate strong validation by industry leaders of our products and are accelerating interest from potential customers and partners across the ADAS and AD landscape, building on our already substantial pipeline of opportunities.”
Recent Business and Technology Highlights
- Announced first OEM design win for LeddarVision. One of the world’s leading commercial vehicle OEMs has selected LeddarTech as the fusion and perception software supplier for their advanced driver assistance system (ADAS) program for 2028 model year vehicles. We expect to start generating engineering services revenue this fiscal year (FY2025).
- Received US
$8 million advanced royalty payments from TI. In January, LeddarTech received the second advanced royalty payment of US$3 million as part of its collaboration and license agreement with TI. This is in addition to the US$5 million received in December 2024. - Raised US
$11.3 million under a standby equity purchase agreement (SEPA). In January, LeddarTech raised US$1.1 million (CA$1.4 million ) by selling 600,000 shares at an average price of US$1.76 . This is in addition to the US$10.2 million (CA$14.4 million ) raised in fiscal Q1 2025 by selling 6.6 million shares at an average price of US$1.55 per share. - Conducted successful CES participation. LeddarTech completed a strong showing at the 2025 Consumer Electronics Show (CES), including the successful demonstration of LeddarVision Surround (LVS-2+) software utilizing TI TDA4VH-Q1 processor.
- Announced listing transfer to Nasdaq Capital Market. Via this transfer, LeddarTech had cured the Nasdaq deficiencies and met the applicable listing standards.
- Received ISO/IEC 27001 certification. LeddarTech proudly announced that the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) have awarded LeddarTech ISO/IEC 27001 certification, a key requirement for automotive customers.
Customer Traction and Development
LeddarTech has a robust pipeline of over 30 active opportunities with original equipment manufacturers (OEMs) and Tier 1 automotive suppliers to support consumer demands for improved safety features and satisfy upcoming regulatory deadlines.
During 2025, LeddarTech will continue to develop two new, revenue-generating products that are designed to accelerate revenue and adoption of LeddarVision. More information will be shared on these products when available.
Fiscal First Quarter 2025 Financial Highlights1
Revenue: Revenue from continuing operations for the fiscal first quarter of 2025, ending December 31, 2024, was
Net loss: Net loss for the fiscal first quarter of 2025, ending December 31, 2024, was
EBITDA and adjusted EBITDA2: EBITDA loss for the fiscal first quarter of 2025, ending December 31, 2024, was
| Continuing operations | Q1-2025 | Q1-2024 | ||
| Revenues | ||||
| Loss from operations | (13,218,705) | (63,912,986) | ||
| Finance costs, net | 13,746,884 | (2,422,558) | ||
| Loss before income taxes | (27,012,529) | (61,490,428) | ||
| Net loss and comprehensive loss | (27,012,664) | (61,490,428) | ||
| Net loss and comprehensive loss attributable to Shareholders of the Company | (27,012,664) | (61,188,116) | ||
| Loss per share | ||||
| Net loss per share (basic and diluted) (in dollars) | (0.86) | (17.06) | ||
| Weighted average common shares outstanding (basic and diluted) | 31,483,617 | 3,587,572 | ||
| EBITDA (loss) | (22,059,095) | (60,290,981) | ||
| Adjusted EBITDA (loss) | (11,143,209) | (8,572,571) | ||
The following table sets forth a reconciliation of adjusted EBITDA and EBITDA to net loss reported in accordance with IFRS for the three months ended December 31, 2024 and 2023.
| Q1-2025 | Q1-2024 | |||
| Net loss from continued operations | ( | ( | ||
| Deferred income taxes | 135 | – | ||
| Depreciation of property and equipment | 170,977 | 189,639 | ||
| Depreciation of right-of-use assets | 112,822 | 108,365 | ||
| Amortization of intangible assets | 165,134 | 137,112 | ||
| Interest expenses | 4,504,501 | 764,330 | ||
| EBITDA loss from continuing operations | (22,059,095) | (60,290,981) | ||
| Foreign exchange loss (gain) | 3,635,140 | (67,715) | ||
| Loss (gain) on revaluation of financial instruments carried at fair value | 5,602,056 | (2,963,283) | ||
| Gain on lease modification | – | (166,661) | ||
| Stock-based compensation | 1,678,690 | (5,985,250) | ||
| Listing expense | – | 59,139,572 | ||
| Transaction costs | – | 1,761,747 | ||
| Adjusted EBITDA loss from continuing operations | (11,143,209) | (8,572,571) | ||
Balance Sheet and Liquidity3
As of December 31, 2024, LeddarTech’s consolidated cash and cash equivalents balance totaled
Non-IFRS Financial Measures
A non-IFRS financial measure is a financial measure used to depict our historical or expected future financial performance, financial position or cash flow and, with respect to its composition, either excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in Company’s consolidated primary financial statements.
In Q2-2024, the Company started to use two new non-IFRS financial measures because we believe these non-IFRS financial measures are reflective of our ongoing operating results and provide readers with an understanding of management’s perspective on and analysis of our performance.
Below are descriptions of the non-IFRS financial measures that we use to explain our results and reconciliations to the most directly comparable IFRS financial measures.
EBITDA (loss) is calculated as net earnings (loss) before interest expenses (income), deferred income taxes, depreciation of property and equipment, depreciation of right-of-use assets and amortization of intangible assets.
EBITDA (loss) should not be considered an alternative to net loss in measuring performance or used as a measure of cash flow.
Adjusted EBITDA (loss) is calculated as EBITDA (loss), adjusted for foreign exchange gain (loss), loss (gain) on revaluation of financial instruments carried at fair value, gain or loss on lease modification, share‐based compensation, listing expense, transaction costs, restructuring costs and impairment loss on intangible assets.
About LeddarTech
A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.
LeddarTech is responsible for several remote-sensing innovations, with over 170 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.
Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.
Forward-Looking Statements
Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s selection by the OEM referred to above, anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics and ability to comply with Nasdaq Capital Market listing standards in the future. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation, our ability to continue to maintain compliance with Nasdaq continued listing standards following our transfer to the Nasdaq Capital Market, as well as: (i) the risk that LeddarTech and the OEM referred to above are unable to agree to final terms in definitive agreements; (ii) the volume of future orders (if any) from this OEM, actual revenue derived from expected orders, and timing of revenue, if any; (iii) our ability to timely access sufficient capital and financing on favorable terms or at all; (iv) our ability to maintain compliance with our debt covenants, including our ability to enter into any forbearance agreements, waivers or amendments with, or obtain other relief from, our lenders as needed; (v) our ability to execute on our business model, achieve design wins and generate meaningful revenue; (vi) our ability to successfully commercialize our product offering at scale, whether through the collaboration agreement with Texas Instruments, a collaboration with a Tier 2 supplier or otherwise; (vii) changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs and plans; (viii) changes in general economic and/or industry-specific conditions; (ix) our ability to retain, attract and hire key personnel; (x) potential adverse changes to relationships with our customers, employees, suppliers or other parties; (xi) legislative, regulatory and economic developments; (xii) the outcome of any known and unknown litigation and regulatory proceedings; (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak, as well as management’s response to any of the aforementioned factors; and (xiv) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.
Tel.: + 1-514-427-0858, chris.stewart@leddartech.com
- Investor relations website: investors.leddartech.com
- Investor relations contact: Mike Bishop, mike@bishopir.com
Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”
1 All amounts in Canadian dollars except where otherwise noted.
2 EBITDA and adjusted EBITDA are non-IFRS measures and are presented by the Company as they are used to assess operating performance. These non-IFRS measures do not have standardized meanings under IFRS and are not likely comparable to similarly designated measures reported by other corporations. The reader is cautioned that these measures are being reported in order to complement, and not replace, the analysis of financial results in accordance with IFRS. See “Non-IFRS Financial Measures” below.
3 All amounts in Canadian dollars except where otherwise noted.
FAQ
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