CEMATRIX Announces 2023 Second Quarter Financial Results - Seite 2

The following are the business and financial highlights for the second quarter and year to date:

Business highlights for the Quarter:

• Announced $6.0 million in new contracts and backlog of $93.2 million (April 26, 2023)
• Announced Management Perspectives – Uniquely positioned for 2023 and Beyond (May 2, 2023)
• Announced $5.9 million in new contracts and backlog of $95.7 million (June 6, 2023)
  

Business highlights subsequent to the Quarter:

• Announced $5.9 million in new contracts and backlog of $99.4 million (July 19, 2023)
  

Financial highlights for the second quarter:

• Revenue was $6.2 million in Q2 2023 versus $4.0 million in Q2 2022 (an increase of 55%)
• Gross margin was $1.1 million (18%) in Q2 2023 versus $-0.1 million in Q2 2022 (an improvement of $1.2 million)
• Operating loss was $1.0 million in Q2 2023 versus a $2.0 million loss in Q2 2022 (an improvement of $1.0M or 52%)
• Adjusted EBITDA was negative $0.4 million in Q2 2023 versus negative $1.3 million in Q2 2022 (an improvement of $0.9M or 69%)
• Cashflow from operations was negative $1.6 million in Q2 2023 versus negative $2.0 million in Q2 2021 (an improvement of $0.4M or 20%)
  

Financial highlights for the six months ended June 30^th (year to date results):

• Revenue was $13.4 million in YTD 2023 versus $9.1 million in YTD 2022 (an increase of 47%).
• Gross margin was $1.9 million (14%) in YTD 2023 versus $-0.1 million in YTD 2022 (an improvement of $2.0 million)
• Operating loss was $2.1 million in YTD 2023 versus a loss of $3.8 million YTD 2022 (an improvement of $1.7 million or 45%).
• Adjusted EBITDA was negative $1.2 million in YTD 2023 versus negative $2.8 million in YTD 2022 (an improvement of $1.6 million or 61%).
• Cashflow from operations was negative $1.9 million in YTD 2023 versus negative $2.7 million used in YTD 2022 (an improvement of $0.8M or 31%).
• Working capital as at the end of the June 30 was $6.4 million with $3.5 million in cash.

ABOUT CEMATRIX

CEMATRIX is a rapidly growing company that manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America. This unique cement-based material with superior thermal protection delivers cost-effective, innovative solutions to a broad range of problems facing the infrastructure, industrial (including oil and gas) and commercial markets. Through recent acquisitions of Chicago-based MixOnSite and Bellingham based Pacific International Grout, CEMATRIX is now North America’s largest Cellular Concrete company. For more information please visit our website at www.cematrix.com.