Financial Highlights
Revenue for the quarter ended
Gross margin was 23% for the quarter and 24% for fiscal 2022 year to date, compared to 26% for the same quarter in the previous year and 27% for fiscal 2021 year to date.
EBITDA for Q3 2022 was
Operating expenses increased for the first nine months of fiscal 2022 to
Net cash as at
Balance sheet remains strong and net cash position continues to increase.
'As we advance past the pandemic, we are leveraging our extensive client base and as a result are seeing a return of opportunities in our four key markets,' said Scott MacFabe, CEO of BluMetric.
The Company has made investments in its sales team and information technology that are expected to contribute to streamlining the sales cycle. In addition to these investments, BluMetric has started fabrication of its
Among the Company's accomplishments this quarter, it has been ranked #45 of
'We have a solid balance sheet and strong cash position, which provide us a confident basis to operate through economic headwinds and find ways to grow the business in the future.'
In
The Company announced today a grant of 2,669,000 stock options ('Options') for common shares to employee directors, officers and certain employees of the Company at an exercise price of
Note 1: EBITDA is a non-IFRS measure and is calculated as net income before interest expense, income taxes, depreciation, and amortization.
Note 2: Free cash flow is a non-IFRS measure and is calculated as operating cash flows less capital expenditures and net payment of lease obligations.
Note 3: Net cash is a non-IFRS measure and is calculated as cash less total debt excluding lease liabilities.
About
Contact:
Scott MacFabe
Tel: 613.839.3053
Email: smacfabe@blumetric.ca
Forward-Looking Statements
Some of the statements in this press release, including those relating to the Company's quarterly and annual results, future products, opportunities and cost initiatives, strategies, and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as 'expects', 'anticipates', 'intends', 'plans', 'believes', 'estimates', or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations.
(C) 2022 Electronic News Publishing, source