Legend Power Systems Reports Q4 F2024 Financial Results
Legend Power Systems reported Q4 F2024 financial results with revenue of $705,335, up 343% from $159,114 in Q4 F2023. The company posted a net loss of $832,475, improved from a $969,729 loss in Q4 F2023. Gross margin improved to 21% compared to negative 4% in the same quarter last year.
For the full fiscal year 2024, revenue reached $1,872,973, a 69% increase from $1,106,093 in 2023. The company maintained a strong financial position with no debt and $742,000 in working capital. Operating expenses decreased to $4,014,333 from $4,430,493 in the previous year due to cost-cutting measures. The company reported increased sales activity and engagement with commercial real estate firms, with over 196 buildings in active sales cycles for more than 400 potential SmartGATE units.
Legend Power Systems ha riportato i risultati finanziari del Q4 F2024 con ricavi di $705,335, in aumento del 343% rispetto ai $159,114 del Q4 F2023. L'azienda ha registrato una perdita netta di $832,475, migliorando rispetto alla perdita di $969,729 nel Q4 F2023. Il margine lordo è migliorato al 21% rispetto al -4% dello stesso trimestre dell'anno precedente.
Per l'intero anno fiscale 2024, i ricavi hanno raggiunto $1,872,973, con un incremento del 69% rispetto ai $1,106,093 del 2023. L'azienda ha mantenuto una solida posizione finanziaria senza debiti e con $742,000 in capitale circolante. Le spese operative sono diminuite a $4,014,333 rispetto ai $4,430,493 dell'anno precedente grazie a misure di riduzione dei costi. L'azienda ha riportato un aumento dell'attività di vendita e dell'impegno con le aziende immobiliari commerciali, con oltre 196 edifici attualmente coinvolti in cicli di vendita attivi per oltre 400 potenziali unità SmartGATE.
Legend Power Systems reportó los resultados financieros del Q4 F2024 con ingresos de $705,335, un aumento del 343% desde los $159,114 en el Q4 F2023. La compañía registró una pérdida neta de $832,475, mejorando desde una pérdida de $969,729 en el Q4 F2023. El margen bruto mejoró al 21% en comparación con el -4% en el mismo trimestre del año pasado.
Para el año fiscal completo 2024, los ingresos alcanzaron $1,872,973, un incremento del 69% con respecto a los $1,106,093 en 2023. La empresa mantuvo una sólida posición financiera sin deudas y $742,000 en capital de trabajo. Los gastos operativos disminuyeron a $4,014,333 desde los $4,430,493 del año anterior gracias a medidas de reducción de costos. La empresa reportó un aumento en la actividad de ventas y el compromiso con las empresas de bienes raíces comerciales, con más de 196 edificios en ciclos de venta activos para más de 400 unidades potenciales de SmartGATE.
Legend Power Systems는 F2024 4분기 재무 결과를 발표했으며, 매출은 $705,335로, F2023 4분기 $159,114에서 343% 증가했습니다. 회사는 $832,475의 순손실을 기록했으며, 이는 F2023 4분기에서 $969,729의 손실에서 개선된 수치입니다. 총 마진은 작년 같은 분기의 -4%에서 21%로 개선되었습니다.
2024 회계연도 전체 매출은 $1,872,973에 도달했으며, 이는 2023년의 $1,106,093에서 69% 증가한 것입니다. 회사는 부채가 없고 $742,000의 운영 자본을 보유하여 강력한 재무 상태를 유지했습니다. 운영비는 비용 절감 조치 덕분에 이전 년도의 $4,430,493에서 $4,014,333으로 감소했습니다. 회사는 상업용 부동산 회사와의 판매 활동 및 참여가 증가했으며, 400개 이상의 잠재적인 SmartGATE 장치에 대한 196개 이상의 건물이 현재 판매 주기에 참여하고 있다고 보고했습니다.
Legend Power Systems a annoncé les résultats financiers du T4 F2024, avec des revenus de $705,335, soit une augmentation de 343 % par rapport à $159,114 au T4 F2023. L'entreprise a affiché une perte nette de $832,475, s'améliorant par rapport à une perte de $969,729 au T4 F2023. La marge brute a été améliorée à 21 % par rapport à -4 % au même trimestre l'année précédente.
Pour l'ensemble de l'exercice fiscal 2024, les revenus ont atteint $1,872,973, soit une augmentation de 69 % par rapport à $1,106,093 en 2023. L'entreprise a maintenu une solide position financière sans dettes, avec $742,000 en fonds de roulement. Les frais d'exploitation ont diminué à $4,014,333 par rapport à $4,430,493 l'année précédente grâce à des mesures de réduction des coûts. L'entreprise a rapporté une augmentation de l'activité de vente et de l'engagement auprès des entreprises de biens immobiliers commerciaux, avec plus de 196 bâtiments dans des cycles de vente actifs pour plus de 400 unités potentielles SmartGATE.
Legend Power Systems berichtete über die finanziellen Ergebnisse für das 4. Quartal des Geschäftsjahres 2024 mit einem Umsatz von $705,335, was einem Anstieg von 343% gegenüber $159,114 im 4. Quartal 2023 entspricht. Das Unternehmen verzeichnete einen Nettverlust von $832,475, der sich gegenüber einem Verlust von $969,729 im 4. Quartal 2023 verbessert hat. Die Bruttomarge verbesserte sich auf 21% im Vergleich zu -4% im gleichen Quartal des Vorjahres.
Für das gesamte Geschäftsjahr 2024 erreichten die Einnahmen $1,872,973, was einem Anstieg von 69% gegenüber $1,106,093 im Jahr 2023 entspricht. Das Unternehmen behielt eine starke finanzielle Position bei, ohne Schulden und mit $742,000 an Betriebskapital. Die Betriebskosten gingen auf $4,014,333 zurück, verglichen mit $4,430,493 im Vorjahr, was auf Einsparmaßnahmen zurückzuführen ist. Das Unternehmen berichtete von zunehmender Verkaufsaktivität und Engagement mit Unternehmen des kommerziellen Immobiliensektors, mit über 196 Gebäuden, die sich in aktiven Verkaufszyklen für mehr als 400 potenzielle SmartGATE-Einheiten befinden.
- Revenue increased 343% YoY in Q4 to $705,335
- Full-year revenue up 69% to $1,872,973
- Gross margin improved to 38% in FY2024 from 18% in FY2023
- Operating expenses reduced by 9% through cost-cutting measures
- Strong sales pipeline with 196 buildings in active sales cycles
- Net loss of $832,475 in Q4 F2024
- Negative EBITDA of $763,529 in Q4 F2024
- Low cash position of $236,000 at quarter-end
Conference Call Scheduled Today at 11am EST
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2024) - 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 September 30, 2024 ("Q4 F2024"). The Company has also scheduled a conference call to provide a business update to discuss its Q4 F2024 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.
Q4 F2024 Highlights
Revenue of
$705 thousand versus$159 thousand in Q4 F2023Adjusted EBITDA loss of
$763 thousand versus a$885 thousand loss in Q4 F2023Net loss of
$832 thousand versus a$969 thousand loss in Q4 F2023Cash of
$236 thousand , no debt, and$742 thousand in working capital at September 30, 2024
"The past year has been transformative for Legend Power Systems, with tangible wins across five strategic pillars that form the backbone of our growth strategy," said Randy Buchamer, Legend Power Systems CEO. "Each of these pillars represents a standalone opportunity to drive significant revenue growth, but together, they form a synergistic foundation that will drive significant revenue growth for Legend over the next 3-5 years. We have passed the critical stage of having to prove our solutions work. We have successfully completed technology evaluations in numerous markets, and we are focusing on helping partners and prospects develop deployment plans. We have many prospects deciding on where and how to deploy SmartGATEs, and our order visibility is stronger than ever."
Q4 F2024 Operational Highlights
Green Proving Ground program for the United States General Services Administration, which operates approximately 1,800 federally owned buildings is proceeding well. Two sites have been selected, with the first unit shipped, and plans to ship the next system in the next quarter.
Sales activity is continuing at a strong pace, as evidenced from customers, both repeat and new business, who continue engaging with deep and wide interest. The strength in viability is driven mainly by customers articulating power quality concerns and higher visible costs. Partner sales efforts also continue to grow in volume, dollars, and strength.
Legend Power Systems is engaged in active sales processes with several of the top firms in the Commercial Real Estate space, with over 196 buildings in active sales cycles for over 400 plus potential SmartGATE's.
Q4 F2024 Financial Highlights
Financial summary for the three and twelve months ended September 30, 2024 and 2023
| Three months ended September 30, | Years ended September 30, | |||||
| (Cdn$, unless noted otherwise) | 2024 | 2023 | Change | 2024 | 2023 | Change |
| Revenue | 705,335 | 159,114 | 1,872,973 | 1,106,093 | ||
| Cost of sales | 558,276 | 164,788 | 1,170,121 | 911,912 | ||
| Gross margin1 | 147,059 | (5,674) | 702,852 | 194,181 | ||
| Gross margin %1 | (4)% | |||||
| Operating expenses | 976,967 | 1,001,073 | (2)% | 4,014,333 | 4,430,493 | (9)% |
| Net loss | (832,475) | (969,729) | (3,303,509) | (4,181,902) | ||
| Adjusted EBITDA2 | (763,529) | (885,809) | (2,938,539) | (3,655,150) | ||
| 1 Gross margin is based on a blend of both equipment and installation revenue. | ||||||
| 2 Adjusted EBITDA is a non-IFRS financial measure. See EBITDA Reconciliation for details. | ||||||
Revenue for the fourth quarter of 2024 was
Gross margin in the fourth quarter of fiscal 2024 was
The Company's operating expenses for the fourth quarter of fiscal 2024 were
Adjusted EBITDA for the fourth quarter of fiscal 2024 was negative
Net loss for the fourth quarter of fiscal 2024 was
CONFERENCE CALL DETAILS:
| DATE: | Friday, December 20, 2024 |
| TIME: | 11:00 AM ET (8:00 AM PT) |
| WEBINAR: | Legend Power Fiscal 2024 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/234598
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