173 0 Kommentare Clear Blue Technologies Announces Second Quarter Fiscal 2023 Financial Results

Strong Order and Revenue Growth Anticipated in Second Half of 2023

TORONTO, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Clear Blue Technologies International Inc. (TSXV: CBLU) (FRANKFURT: OYA) (OTCQB: CBUTF), announces its financial results for the quarter ended June 30, 2023 (“Q2 F2023”). A complete set of Financial Statements and Management’s Discussion & Analysis (“MD&A”) has been filed at www.sedarplus.ca. All dollar amounts are denominated in Canadian dollars.

Trailing Four Quarter (“TFQ”) Financial Highlights:

TFQ revenue was $1,644,227, a 72% decrease from $5,886,453 in the corresponding previous period. The current period was impacted by the economic downturn triggered by the macro-economic events of early 2022.
TFQ recurring revenue was $646,416, a 10% decrease from $718,750 in the corresponding previous period.
TFQ Gross Profit decreased to $606,008 compared to $1,984,809 in the comparable period, a reduction of 69%.
Gross margin percentage increased to 37%, compared to 34% in the same TFQ period of 2022.
TFQ EBITDA was $(3,639,495) as compared to $(3,154,258) for the previous period, a reduction of 15%.

Q2 F2023 Financial Highlights:

Revenue was $752,325, relatively flat from $782,101 for the quarter ended June 30, 2022 (“Q2 2022”), but up 187% from $262,137 in the prior quarter (“Q1 2023”).
Recurring revenue was $139,056, a 61% decrease from $358,250 in Q2 2022. Clear Blue's recurring service revenue includes existing site expansion upgrades, which were more frequent in Q2 2022 as compared to the current quarter.
Gross Margin was 41%, up from 35% in Q2 2022.
Gross Profit for Q2 2023 was $309,007 compared to $277,295 for Q2 2022, an 11% increase.
EBITDA was $(664,964) versus $(989,498) in Q2 2022, a 33% improvement from Q2 2022. The improved EBITDA reflects the Company’s 2022 cost reduction program and government grants offset slightly by increased costs from eSite operations.
As of June 30, 2023, bookings increased to $4,654,287, an increase of 134%, when compared to $1,991,275 as of December 31, 2022, with delivery anticipated over the next three years in the case of Illumience/EaaS and typically in the next four to six months in the case of production orders.
Cash at June 30, 2023 was $746,100 versus $853,330 at December 31, 2022.
As of June 30, 2023, the Company has $5.4 million of available government funding, with $3.65 million receivable in government grants, and $1.7 million receivable in the form of a 10-year interest free loan to fund its plans going forward over the next 3 years.