– Issues Outlook For Fiscal Second Quarter Revenue –
– Conference Call and Investor Presentation Available on IR Site –
GEELONG,
“Carbon Revolution delivered record revenue in the fiscal first quarter of 2024, up 56% year-over-year to
“In less than a year, we have increased our awarded programs to eighteen2 with six global OEMs. We continue to make strong progress on our expansion, including commissioning of the first phase of the Mega-line, along with record production of wheels. Importantly, we have also raised significant capital to fund our growth and execute on our vision to be the global leader in lightweight wheels,”
“We are incredibly excited about the opportunity ahead and remain focused on achieving profitable growth in the future, which we believe will be achieved through the automation of our production and driving greater fixed cost leverage as volumes ramp. Looking forward, we expect robust growth to continue in the fiscal second quarter. At the midpoint of our outlook, we expect revenue to increase more than 25% sequentially and nearly triple year-over-year,” concluded
Fiscal Second Quarter 2024 Outlook
Based on current business conditions, business trends and other factors, the Company is providing an outlook for the fiscal second quarter ending
Backlog
The Company's backlog has more than doubled since
Webcast and Conference Call Information
Interested investors and other parties can listen to a webcast of the live conference call at
The conference call can be accessed live over the phone by dialing 1-877-407-9716 (domestic) or + 1-201-493-677 (international). A telephonic replay will be available approximately two hours after the call by dialing 1-844-512-2921 or for international callers, 1-412-317-6671. The access ID number for the replay is 13742968. The telephonic replay will be available until
About
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Forward Looking Statements
All statements other than statements of historical facts contained in this communication are forward-looking statements. Forward-looking statements may generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or other similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the financial position, business strategy and the plans and objectives of management for future operations including as they relate to the business combination and related transactions, pricing and market opportunity and the use of the cash proceeds of the business combination. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Carbon Revolution’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from such assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of
These forward-looking statements are subject to a number of risks and uncertainties, including (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) the ability to maintain the listing of Carbon Revolution’s securities on the stock exchange; (iii) the failure to realize the anticipated benefits of the business combination and related transactions; (iv) risks relating to the uncertainty of the costs related to the business combination; (v) risks related to the rollout of Carbon Revolution’s business strategy and the timing of expected business milestones; (vi) the effects of competition on Carbon Revolution’s future business and the ability of the combined company to grow and manage growth, establish and maintain relationships with customers and healthcare professionals and retain its management and key employees; (vii) risks related to domestic and international political and macroeconomic uncertainty, including the
If any of these risks materialize or Carbon Revolution’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that
For further information, please contact:
Investors
Investors@carbonrev.com
Media
Media@carbonrev.com
1 All USD figures converted to USD at 0.7 for convenience and are unaudited.
2 Lifetime awards, of which six are in production, seven are in development and five are in aftersales.
3 Compared to backlog as of
Source:
2023 GlobeNewswire, Inc., source