Legend Power Systems Reports Q1 F2025 Financial Results
Legend Power Systems reported Q1 F2025 financial results with revenue of $82,000, compared to $2,000 in Q1 F2024. The company posted a net loss of $1.03 million, slightly improved from $1.08 million loss in the same period last year. As of December 31, 2024, the company maintained $661,000 in cash, with no debt and $939,000 in working capital.
Key operational highlights include closing a first tranche non-broker private placement of $762,000, followed by a second tranche of $851,000 post-quarter, totaling $1.6 million. The company expanded collaborations with utilities and Energy Service Companies (ESCOs) and progressed in the Green Proving Ground program with the U.S. General Services Administration. Legend Power also signed a partnership with Unity Electric in New York City and engaged with a major North American Transport Agency for one of the United States' 10 largest airports.
Legend Power Systems ha riportato i risultati finanziari del primo trimestre dell'anno fiscale 2025 con un fatturato di $82.000, rispetto ai $2.000 del primo trimestre dell'anno fiscale 2024. L'azienda ha registrato una perdita netta di $1,03 milioni, leggermente migliorata rispetto alla perdita di $1,08 milioni nello stesso periodo dell'anno scorso. Al 31 dicembre 2024, l'azienda ha mantenuto $661.000 in contante, senza debiti e con $939.000 in capitale circolante.
I principali tratti operativi includono la chiusura di una prima tranche di collocamento privato non mediato di $762.000, seguita da una seconda tranche di $851.000 dopo il trimestre, per un totale di $1,6 milioni. L'azienda ha ampliato le collaborazioni con le utility e le Energy Service Companies (ESCO) e ha fatto progressi nel programma Green Proving Ground con l'Amministrazione dei Servizi Generali degli Stati Uniti. Legend Power ha anche firmato una partnership con Unity Electric a New York City e ha collaborato con una grande agenzia di trasporto nordamericana per uno dei 10 aeroporti più grandi degli Stati Uniti.
Legend Power Systems informó los resultados financieros del primer trimestre del año fiscal 2025 con ingresos de $82,000, en comparación con $2,000 en el primer trimestre del año fiscal 2024. La compañía registró una pérdida neta de $1.03 millones, ligeramente mejor que la pérdida de $1.08 millones en el mismo período del año pasado. Al 31 de diciembre de 2024, la empresa mantenía $661,000 en efectivo, sin deudas y con $939,000 en capital de trabajo.
Los aspectos operativos clave incluyen el cierre de una primera tranche de colocación privada no mediada de $762,000, seguida de una segunda tranche de $851,000 después del trimestre, totalizando $1.6 millones. La empresa amplió colaboraciones con servicios públicos y Empresas de Servicios de Energía (ESCO) y avanzó en el programa Green Proving Ground con la Administración de Servicios Generales de EE. UU. Legend Power también firmó una asociación con Unity Electric en la ciudad de Nueva York y se comprometió con una importante agencia de transporte de América del Norte para uno de los 10 aeropuertos más grandes de Estados Unidos.
레전드 파워 시스템즈는 2025 회계연도 1분기 재무 결과를 보고하며, 수익이 $82,000에 달했다고 밝혔습니다. 이는 2024 회계연도 1분기의 $2,000와 비교되는 수치입니다. 회사는 $1.03백만의 순손실을 기록했으며, 이는 작년 같은 기간의 $1.08백만 손실에서 약간 개선된 수치입니다. 2024년 12월 31일 기준으로 회사는 $661,000의 현금을 보유하고 있으며, 부채는 없고 $939,000의 운전 자본을 유지하고 있습니다.
주요 운영 하이라이트로는 $762,000의 비중개 민간 배치의 첫 번째 분할을 마감한 후, 분기 이후에 $851,000의 두 번째 분할을 추가하여 총 $1.6백만에 달하는 자금을 조달했습니다. 회사는 유틸리티 및 에너지 서비스 회사(ESCO)와의 협력을 확대하고, 미국 일반 서비스 관리국과의 그린 프로빙 그라운드 프로그램에서 진전을 이루었습니다. 레전드 파워는 뉴욕시의 유니티 일렉트릭과 파트너십을 체결하고, 미국의 10대 공항 중 하나를 위한 북미 주요 운송 기관과 협력했습니다.
Legend Power Systems a annoncé les résultats financiers du premier trimestre de l'exercice 2025 avec un chiffre d'affaires de 82 000 $, contre 2 000 $ au premier trimestre de l'exercice 2024. L'entreprise a affiché une perte nette de 1,03 million $, légèrement améliorée par rapport à une perte de 1,08 million $ au cours de la même période l'année dernière. Au 31 décembre 2024, l'entreprise disposait de 661 000 $ en espèces, sans dettes et avec 939 000 $ en fonds de roulement.
Parmi les faits marquants opérationnels, on note la clôture d'une première tranche de placement privé non intermédiaire de 762 000 $, suivie d'une deuxième tranche de 851 000 $ après le trimestre, totalisant 1,6 million $. L'entreprise a élargi ses collaborations avec les services publics et les entreprises de services énergétiques (ESCO) et a progressé dans le programme Green Proving Ground avec l'Administration des services généraux des États-Unis. Legend Power a également signé un partenariat avec Unity Electric à New York et s'est engagée avec une importante agence de transport nord-américaine pour l'un des 10 plus grands aéroports des États-Unis.
Legend Power Systems berichtete über die finanziellen Ergebnisse des ersten Quartals des Geschäftsjahres 2025 mit einem Umsatz von 82.000 $, verglichen mit 2.000 $ im ersten Quartal des Geschäftsjahres 2024. Das Unternehmen verzeichnete einen Nettoverlust von 1,03 Millionen $, was eine leichte Verbesserung gegenüber dem Verlust von 1,08 Millionen $ im gleichen Zeitraum des Vorjahres darstellt. Zum 31. Dezember 2024 verfügte das Unternehmen über 661.000 $ in bar, hatte keine Schulden und 939.000 $ im Umlaufvermögen.
Zu den wichtigsten betrieblichen Höhepunkten gehört der Abschluss einer ersten Tranche einer nicht vermittels privaten Platzierung in Höhe von 762.000 $, gefolgt von einer zweiten Tranche von 851.000 $ nach dem Quartal, was insgesamt 1,6 Millionen $ ergibt. Das Unternehmen hat die Zusammenarbeit mit Versorgungsunternehmen und Energie-Dienstleistungsunternehmen (ESCOs) ausgeweitet und Fortschritte im Green Proving Ground-Programm der US-General Services Administration erzielt. Legend Power hat auch eine Partnerschaft mit Unity Electric in New York City unterzeichnet und sich mit einer großen nordamerikanischen Transportagentur für einen der 10 größten Flughäfen der Vereinigten Staaten beschäftigt.
- Revenue increased significantly to $82K from $2K year-over-year
- Reduced net loss to $1.03M from $1.08M year-over-year
- Successfully raised $1.6M through private placement
- Strong balance sheet with no debt and $939K working capital
- Operating expenses decreased to $1.04M from $1.07M
- Low absolute revenue of $82K despite YoY improvement
- Continued significant net losses
- Low gross margin of $12K
Conference Call Scheduled Today at 11am EST
Vancouver, British Columbia--(Newsfile Corp. - February 21, 2025) - Legend Power Systems Inc. (TSXV: LPS) (OTCQB: LPSIF) ("Legend Power" or the "Company"), a global leader in commercial electrical system solutions, reports its financial results for the three months ended December 31, 2024 ("Q1 F2025"). The Company has also scheduled a conference call to provide a business update to discuss its Q1 F2025 financial results today at 11:00 AM ET (8:00 AM PT) (details below). The call will be hosted by Randy Buchamer, President & Chief Executive Officer. A complete set of Financial Statements and Management's Discussion & Analysis has been filed at www.sedarplus.ca. All dollar figures are quoted in Canadian dollars.
Q1 F2025 Highlights
- Revenue of
$82 thousand versus$2 thousand in Q1 F2024 - Net loss of
$1.03 million versus a$1.08 million loss in Q1 F2024 - Cash of
$661 thousand , no debt, and$939 thousand in working capital at December 31, 2024
"The first quarter of 2025 marks a pivotal moment for Legend Power Systems as we build on the momentum generated over the past year," said Randy Buchamer, CEO of Legend Power Systems. "Building owners require their facilities to operate optimally at all times, and SmartGATE™ has proven its ability to enhance reliability and efficiency. Business optimization has been underway to prepare for excess throughput to meet growing demand as the Company transitions from tens of SmartGATEs™ per year to hundreds and thousands to solve energy challenges and enhance operational stability across a wide range of applications including commercial real estate, education, government, and military infrastructure. With the successful financing post quarter end strengthening our balance sheet, we are now focused on scaling deployments with key partners to drive sustainable growth for years to come."
Q1 F2025 Operational Highlights
- Legend Power Systems closed it's first tranche of non-broker private placement of
$762 thousand , increasing liquidity and providing the working capital required to execute on the pipeline.
- Collaboration with utilities and Energy Service Companies (ESCOs) continues to grow, expanding SmartGATE's reach into large-scale energy efficiency and infrastructure projects. Additionally, partner-driven sales efforts continue to expand in both volume and deal value, further accelerating market penetration.
- The Green Proving Ground program with the United States General Services Administration, which operates approximately 1,800 federally owned buildings, continues to progress. The two test sites have been selected, with the first unit shipped and pending installation. The second system is slated for delivery in the coming months.
Events Subsequent to Q1 F2025
- The Company closed it's second tranche of non-brokered private placement of
$851 thousand , further increasing liquidity bringing the total financing to$1.6 million .
- Signed a sales, distribution and installment partnership in New York City with Unity Electric, an Equans Company.
- Engaged with a major North American Transport Agency to assess and address power quality and energy efficiency challenges at one of the United States 10 largest airports.
Q1 F2025 Financial Highlights
Financial summary for the three months ended December 31, 2024 and 2023
| Three months ended December 31, | ||||||||
| (Cdn$, unless noted otherwise) | 2024 | 2023 | Change | |||||
| Revenue | 81,835 | 1,548 | ||||||
| Cost of sales | 69,889 | 22,664 | ||||||
| Gross margin1 | 11,946 | (21,116) | (157)% | |||||
| Gross margin %1 | (1,364)% | |||||||
| Operating expenses | (1,041,286) | (1,069,588) | (3)% | |||||
| Net loss | (1,032,881) | (1,081,490) | ||||||
1 Gross margin is based on a blend of both equipment and installation revenue.
Revenue for the fourth quarter of 2025 was
Gross margin in the first quarter of fiscal 2025 was
The Company's operating expenses for the first quarter of fiscal 2025 were
Net loss for the first quarter of fiscal 2025 was
CONFERENCE CALL DETAILS:
DATE: Friday, February 21, 2025
TIME: 11:00 AM ET (8:00 AM PT)
WEBINAR: Legend Power Q1 Fiscal 2025 Financial Results Investor Webinar (via Zoom)
REPLAY: Available at: https://legendpower.com
About Legend Power Systems Inc.
Legend Power Systems Inc. (https://legendpower.com/) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend Power's proven solutions support proactive executive decision-making in a complex and volatile business and energy environment. The proprietary and patented system reduces total energy consumption and power costs, while also maximizing the life of electrical equipment. Legend Power's unique solution is also a key contributor to both corporate sustainability efforts and the meeting of utility energy efficiency targets.
For further information, please contact:
Jonathan Lansky, Director
+1 416 417 7664
lansky.j@icloud.com
Sean Peasgood, Investor Relations
+ 1 647 503 1054
sean@sophiccapital.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This Press Release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR+ at www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results to not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241767
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