Titan Logix Corp. Reports First Quarter Fiscal 2025 Financial Results
Titan Logix Corp reported strong Q1 fiscal 2025 results with a 43% revenue increase to $2,160,000 compared to the same period last year. The company achieved one of its highest-grossing quarters in nearly a decade, driven by a fleet conversion from a successful pilot trial. Gross profit increased by $423,000 to $1,203,000, representing 56% of revenue compared to 52% in Q1 2024.
The company completed its first fleet conversion and added 7 new pilot trial customers across multiple market segments including Refined Fuels, Crude Oil, and Chemicals. Operating EBITDA improved to $664,000 compared to $206,000 in the same period last year. The company reported net earnings of $247,000 ($0.01 per share) compared to a net loss of $404,000 in Q1 2024.
Titan Logix Corp ha riportato risultati solidi per il primo trimestre dell'anno fiscale 2025, con un aumento del fatturato del 43% raggiungendo $2.160.000 rispetto allo stesso periodo dell'anno scorso. L'azienda ha registrato uno dei suoi trimestri di maggior incasso degli ultimi dieci anni, grazie a una conversione della flotta da un successo di prova pilota. Il profitto lordo è aumentato di $423.000, toccando $1.203.000, pari al 56% del fatturato rispetto al 52% del primo trimestre del 2024.
L'azienda ha completato la sua prima conversione della flotta e ha aggiunto 7 nuovi clienti per prove pilota in diversi segmenti di mercato, tra cui Combustibili Raffinati, Petrolio Grezzo e Chimici. L'EBITDA operativo è migliorato a $664.000 rispetto ai $206.000 dello stesso periodo dell'anno precedente. L'azienda ha riportato utili netti di $247.000 ($0,01 per azione) rispetto a una perdita netta di $404.000 nel primo trimestre del 2024.
Titan Logix Corp reportó resultados sólidos para el primer trimestre del año fiscal 2025, con un aumento del 43% en los ingresos, alcanzando $2,160,000 en comparación con el mismo período del año pasado. La compañía logró uno de sus trimestres más rentables en casi una década, impulsada por una conversión de flota después de una exitosa prueba piloto. La ganancia bruta aumentó en $423,000, alcanzando $1,203,000, lo que representa el 56% de los ingresos en comparación con el 52% en el primer trimestre de 2024.
La empresa completó su primera conversión de flota y añadió 7 nuevos clientes de prueba piloto en múltiples segmentos de mercado, incluidos Combustibles Refinados, Petróleo Crudo y Químicos. El EBITDA operativo mejoró a $664,000 en comparación con los $206,000 del mismo período del año pasado. La empresa reportó ganancias netas de $247,000 ($0.01 por acción) en comparación con una pérdida neta de $404,000 en el primer trimestre de 2024.
타이탄 로직스 Corp는 2025 회계연도 1분기 강력한 실적을 보고하였으며, 43%의 매출 증가를 기록하여 $2,160,000에 달했습니다. 이는 지난해 같은 기간과 비교한 수치입니다. 회사는 성공적인 파일럿 시험을 바탕으로 한 함대 전환 덕분에 거의 10년 만에 가장 높은 수익 분기를 달성했습니다. 총 이익은 $423,000 증가하여 $1,203,000에 달했으며, 이는 매출의 56%를 차지하며 2024년 1분기의 52%와 비교됩니다.
회사는 첫 번째 함대 전환을 완료하고 정제 연료, 원유 및 화학 물질을 포함한 여러 시장 부문에서 7명의 새로운 시험 고객을 추가했습니다. 운영 EBITDA는 지난해 같은 기간에 비해 $664,000으로 개선되었습니다(지난해 $206,000). 회사는 순익 $247,000($0.01 per share)을 보고하였고, 이는 2024년 1분기 동안의 $404,000의 순손실과 비교됩니다.
Titan Logix Corp a annoncé des résultats solides pour le premier trimestre de l'exercice fiscal 2025, avec une augmentation de 43% des revenus, atteignant 2 160 000 $ par rapport à la même période de l'année dernière. L'entreprise a réalisé l'un de ses trimestres les plus rentables depuis près d'une décennie, grâce à une conversion de flotte suite à un essai pilote réussi. Le bénéfice brut a augmenté de 423 000 $ pour atteindre 1 203 000 $, représentant 56% des revenus contre 52% au premier trimestre 2024.
L'entreprise a terminé sa première conversion de flotte et a ajouté 7 nouveaux clients d'essai pilote dans plusieurs segments de marché, y compris les carburants raffinés, le pétrole brut et les produits chimiques. L'EBITDA d'exploitation s'est amélioré à 664 000 $ par rapport à 206 000 $ pour la même période l'année précédente. L'entreprise a annoncé un bénéfice net de 247 000 $ (0,01 $ par action) par rapport à une perte nette de 404 000 $ au premier trimestre 2024.
Titan Logix Corp berichtete über starke Ergebnisse im ersten Quartal des Geschäftsjahres 2025 mit einem Umsatzanstieg von 43%, der $2.160.000 erreichte im Vergleich zum gleichen Zeitraum des Vorjahres. Das Unternehmen erzielte eines der umsatzstärksten Quartale seit fast einem Jahrzehnt, angetrieben durch die Umrüstung einer Flotte nach einer erfolgreichen Pilotphase. Der Bruttogewinn stieg um $423.000 auf $1.203.000, was 56% des Umsatzes entspricht, verglichen mit 52% im ersten Quartal 2024.
Das Unternehmen führte die erste Flottenumrüstung durch und gewann 7 neue Pilotkunden in mehreren Marktsegmenten, einschließlich raffinierten Brennstoffen, Rohöl und Chemikalien. Das operative EBITDA verbesserte sich auf $664.000 im Vergleich zu $206.000 im gleichen Zeitraum des Vorjahres. Das Unternehmen berichtete von Nettoerträgen von $247.000 ($0,01 pro Aktie) im Vergleich zu einem Nettoverlust von $404.000 im ersten Quartal 2024.
- Revenue increased 43% year-over-year to $2,160,000
- Gross profit margin improved to 56% from 52%
- Operating EBITDA grew 222% to $664,000
- Net earnings turned positive at $247,000 vs previous loss
- Added 7 new pilot trial customers across multiple segments
- Strong working capital position of $14,301,000
- CORE business experiencing slower start in Q1
- Expected softening in customer sales activity for Q2
- Product research and development expenses increased 26% to $333,000
(In
Edmonton, Alberta--(Newsfile Corp. - January 22, 2025) - Titan Logix Corp., (TSXV: TLA) ("Titan" or the "Company"), a technology company specializing in mobile liquid measurement solutions, announces its interim results for the three-month period ended November 30, 2024.
"The first quarter of the fiscal year was a strong start for Titan on all fronts," says Nick Forbes, CEO at Titan. "We achieved one of our highest grossing quarters in nearly a decade, added a number of key pilot customers in the Refined Fuels market, and continue to see progress towards commercial readiness on our software strategy."
The first quarter of the fiscal year was a strong start for the company, with a
Building on the 6 pilot trials completed in the last fiscal year, the Company completed its first fleet conversion in the first quarter. Titan also added an additional 7 pilot trial customers in the first quarter, across multiple market segments, including Refined Fuels, Crude Oil, and Chemicals. The Company is uniquely positioned to help fleet operators solve operational issues with our overfill protection and liquid level measurement capabilities today, and customers are also showing a strong interest in the future of our digital strategy.
Our investment strategy is to commit the necessary resources to penetrate new mobile liquid market segments, and the development of value-added products and software solutions to these market segments. The Company invests its non-operating cash reserves in conservative interest-bearing accounts and marketable securities. Acquisition opportunities are considered where it complements our growth strategy or enables the monetization of our connected strategy.
Q1 FISCAL 2025 HIGHLIGHTS
- Revenues for the first quarter of fiscal 2025 increased by
$646 or43% to$2,160 compared to$1,514 in the first quarter of fiscal 2024. - Gross Profit increased by
$423 t o$1,203 or56% of revenue in the first quarter of fiscal 2025 compared to$780 or52% in the same quarter of fiscal 2024. The increase in gross profit resulted from an increase in volume, lower key manufacturing input costs and stronger US dollar when compared to the same period in fiscal 2024. - The performance of the CORE business improved in the first quarter of fiscal 2025 with reported Operating EBITDA(1) of
$664 compared to$206 in the same period of fiscal 2024. - Product research and development expenses increased by
$68 t o$333 in the first quarter of fiscal 2025 compared to$266 in the first quarter of fiscal 2024. The expenses incurred, support the Company's diversification and growth into new markets. - The Company's net income increased by
$651 t o$247 in the first quarter of fiscal 2025 compared to a net loss of$404 in the first quarter of fiscal 2024 driven by the improved operating results and a reduction in unrealized losses from changes in the fair value of marketable securities owned by the Company. - The Company reported basic and diluted earnings per share of
$0.01 per share in the first quarter fiscal 2025 compared to a loss per share of$0.01 in the first quarter of fiscal 2024.
Financial Highlights Summary
| Three Months Ended November 30th | ||||
| 2024 | 2023 | Increase (Decrease) | ||
| $ | $ | $ | % | |
| Revenue | 2,160 | 1,514 | 646 | 43 |
| Cost of sales | (957) | (734) | (223) | 30 |
| Gross profit | 1,203 | 780 | 423 | 54 |
| Gross margin (%) | 4 | |||
| Operating EBITDA (1) | 664 | 206 | 458 | 222 |
| Product research and development expenses (1) | (333) | (266) | (68) | 26 |
| EBITDA (1) | 330 | (71) | 401 | 565 |
| Net earnings (loss) | 247 | (404) | 651 | 161 |
| EPS - Basic and Diluted | 0.01 | (0.01) | 0.02 | |
| Financial Position | As at November 30, 2024 | As at August 31, 2024 |
| Working capital | $ 14,301 | $ 14,139 |
| Total assets | $ 19,074 | $ 19,022 |
| Long-term liabilities | $ 565 | $ 600 |
| Total equity | $ 17,756 | $ 17,502 |
(1) See Non-IFRS measures below.
The Company's unaudited, condensed, consolidated interim financial statements and the management's discussion and analysis ("MD&A") which includes the Company's Business Outlook, for the three month period ended November 30, 2024, are available on SEDAR+ at www.sedarplus.ca and the Company's website, www.titanlogix.com.
NON-IFRS MEASURES
The Company uses certain measures in this MD&A that do not have a standardized meaning as prescribed by IFRS (International Financial Reporting Standards) and thus are prohibited from being disclosed in the consolidated financial statements. These measures, which are derived from information reported in the Company's consolidated financial statements, may not be consistent with similar measures presented and disclosed by other reporting issuers. However, management believes that this information provides increased insight into the Company's strategic plan to address the broader mobile liquid markets. Readers are cautioned that these Non-IFRS measures should not be construed as alternatives to other measures of financial performance calculated in accordance with IFRS.
The table below provides a reconciliation of the Company's EBITDA and Operating EBITDA to the Operating income (loss) before other items per the interim consolidated financial statements for the periods presented:
| Fiscal Period Ended | Q1 2025 | Q1 2024 |
| Operating income (loss) before other items | 226 | (158) |
| Add back: Depreciation and amortization | 97 | 87 |
| Add back: Non-cash stock-based compensation | 7 | 12 |
| EBITDA | 330 | (60) |
| Add back: Product research and development expenses (1) | 333 | 266 |
| Operating EBITDA | 664 | 206 |
The table below, removes the recurring engineering expenses from the total to isolate the product research and development expenses excluded in Management's calculation of Operating EBITDA:
| Fiscal Period Ended | Q1 2025 | Q1 2024 |
| Engineering, product research and development expenses | (361) | (315) |
| Add back: Recurring engineering expenses | 28 | 49 |
| Product research and development expenses | (333) | (266) |
A detailed definition of these Non-IFRS measures can be reviewed in the Company's MD&A.
About Titan Logix Corp.:
For over 25 years, Titan Logix Corp. has designed and manufactured mobile liquid measurement solutions to help businesses reduce risk and maximize efficiencies in bulk liquids transportation. Titan's TD Series of tank level monitors are a market leader in mobile fluid measurement, and are known for their high level of accuracy, rugged design, and solid-state reliability. Our solutions are designed for hazardous and non-hazardous applications, and we serve customers in a wide range of applications including petroleum, environmental solutions, chemical, and agriculture.
Founded in 1979, Titan Logix Corp. is a public company listed on the TSX Venture Exchange and its shares trade under the symbol TLA.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release that is not current or historical factual information may constitute forward looking information within the meaning of securities laws. Implicit in this information are assumptions regarding our future operational results. These assumptions, although considered reasonable by the company at the time of preparation, may prove to be incorrect. Readers are cautioned that the actual performance of the company is subject to many risks and uncertainties and could differ materially from what is expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our Management Discussion and Analysis in respect of the year ended August 31, 2024, which is available at www.sedarplus.ca. In addition, the occurrence of pandemics, such as the outbreak of the novel coronavirus COVID-19 in any of the areas in which the Company, its customers or its suppliers operate could cause interruptions in the Company's operations. In addition, pandemics, natural disasters, or other unanticipated events could negatively impact the demand for, and price of, oil and natural gas which in turn could have a material adverse effect on the Company's business, financial condition, results of operations and cash flows. The forward-looking information contained in this press release is based on our current estimates, expectations, and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any time, whether a result of new information, future events or otherwise, except as required by applicable securities law
Contact Information:
Nick Forbes
Chief Executive Officer
Ph: (403) 561-8095
Email: invest@titanlogix.com
www.titanlogix.com
TSX Venture, TLA
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238130
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