EnWave Announces 2020 First Quarter Consolidated Interim Financial Results

VANCOUVER, British Columbia, Feb. 26, 2020 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company") today reports the Company’s consolidated interim financial results for the first quarter ended December 31, 2019.

Consolidated Financial Performance:

($ ‘000s)	Three months ended December 31,
	2019 $	2018 $	Change %
Revenues	8,609	7,806	10%
Direct costs	5,413	4,769	14%
Gross margin	3,196	3,037	5%
Operating expenses
General and administration	1,758	998	76%
Sales and marketing	1,943	976	99%
Research and development	535	341	57%
	4,236	2,315	83%
Net loss for the period after taxes	(1,426)	(15)
Adjusted EBITDA(*)	(743)	1,163
Loss per share – basic and diluted	(0.01)	(0.00)