Clear Blue Technologies Announces Second Quarter Fiscal 2023 Financial Results - Seite 2

• May 30, 2023: Clear Blue announced its first order for its Esite-Micro product. An African telco has purchased 20 Esite-Micro systems for installation in new telecom sites in Africa. The project is expected to ship in Q3 of this year and has an initial value of approximately $375,000.
  

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Outlook is for Q3/23 Revenue to be in the range of $1.5 Million to $2.5 Million

Clear Blue’s focus continues to be cash centric. Revenue growth in Q3 and Q4 2023, net-zero cash burn and positive EBITDA are still our objectives for the rest of the year.

As a result of the eSite acquisition as well as bringing to market 3 new products in the last 12 months, Clear Blue now has a robust product line, which significantly expands our addressable market. The sales funnel shows strength in all markets, with all our products, and we expect this to contribute to the Company’s revenue for the remainder of 2023 and for 2024.

Of the $4,654,286 in bookings as at the end of Q2, $3,920,006 is expected to be revenue recognized over the coming 12 months. As the bookings and sales funnel convert to revenue, the Company’s revenue trajectory should swing positive, and management believes that the 2022 downturn, caused by macro-economic factors, is behind us.

As orders have been received and continue to be booked, the Company’s focus is on shipping and delivery. For Q3, we are currently expecting revenue in the range of $1.5 million to $2.2 million, with the low end of this range occurring in the event that some suppliers slip their scheduled shipments from September to October. Gross Margin, expenses, and net income will generally be in line with previous quarters.

For Q4, 2023, we see the potential for it to be our best quarter of the year and will provide updates to the market as these orders solidify and are scheduled. Similarly, the Company’s sales funnel has a strong set of projects expected early in 2024.