CEMATRIX Announces Record Third Quarter 2023 Financial Results - Seite 2

“Management is strongly aligned with shareholders. We remain laser focused on becoming a growing, cashflow positive company coupled with a strong balance sheet and a simplified capital structure. This quarter is another step forward in the execution of that strategy and I remain incredibly optimistic about this year, next year and the future,” concluded Mr. Kendrick.

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

Business highlights for the Quarter:

• Announced $5.9 million in new contracts and backlog of $99.4 million (July 19, 2023)
• Announced $10.7 million in new contracts and backlog of $107.7 million (August 30, 2023)

Business highlights subsequent to the Quarter:

• Announced $6.5 million in new contracts (October 16, 2023)
• Announced a $7.1 Million Contract (October 25, 2023)

Financial highlights for the third quarter:

• Revenue was $20.4 million in Q3 2023 versus $11.6 million in Q3 2022 (an increase of 76%)
• Gross margin was $4.6 million (23%) in Q3 2023 versus $2.2 million (19%) in Q3 2022 (an improvement of $2.4 million)
• Operating income was $2.5 million in Q3 2023 versus a $0.3 million in Q3 2022 (an improvement of $2.2 million)
• Adjusted EBITDA was $3.2 million in Q3 2023 versus $0.9 million in Q3 2022 (an improvement of $2.3 million)
• Cashflow from operations (before changes in working capital) was $3.1 million in Q3 2023 versus $0.9 million in Q3 2022 (an improvement of $2.2 million)
  

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

• Revenue was $33.7 million in YTD 2023 versus $20.7 million in YTD 2022 (an increase of $13.0 million or 63%).
• Gross margin was $6.5 million (19%) in YTD 2023 versus $2.1 million (10%) in YTD 2022 (an improvement of $4.4 million)
• Operating income was $0.4 million in YTD 2023 versus an operating loss of $3.5 million YTD 2022 (an improvement of $3.9 million).
• Adjusted EBITDA was positive $2.1 million in YTD 2023 versus negative $1.9 million in YTD 2022 (an improvement of $4.0 million).
• Cashflow from operations was positive $2.0 million in YTD 2023 versus negative $1.9 million in YTD 2022 (an improvement of $3.9 million).
• Working capital at the end of Q3 was $8.4 million with $1.9 million in cash.

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