Questor Announces Second Quarter Results

CALGARY, Alberta, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Questor Technology Inc. (“Questor” or the “Company”) (TSX-V: QST) announced today its financial and operating results for the second quarter ended June 30, 2024.

Questor’s unaudited Condensed Consolidated Financial Statements and Management’s Discussion and Analysis for the quarter ended June 30, 2024, are available on the Company’s website at www.questortech.com/investors and at www.sedarplus.ca.

Unless otherwise noted, all financial figures are presented in Canadian dollars, prepared in accordance with International Financial Reporting Standards and are unaudited for the three and six months ended June 30, 2024, and June 30, 2023.

SECOND QUARTER 2024 FINANCIAL RESULTS

	Three months ended June 30,			Six months ended June 30,
For the	2024	2023		2024		2023
(Stated in CDN $)
Revenue	870,360	2,216,578		1,601,978		4,055,353
Gross profit	42,156	807,705		254,431		1,550,221
Adjusted EBITDA(1)	(721,640)	205,289		(1,199,225)		433,911
Loss for the period	(966,246)	(501,777)		(1,603,005)		(676,645)
Loss per share - basic and diluted	(0.03)	(0.02)		(0.06)		(0.02)

As at	June 30, 2024	December 31, 2023
(Stated in CDN $)
Working capital (2)	7,837,556	11,844,178
Total assets	26,925,851	27,125,820
Total equity	22,716,291	24,357,652

⁽¹⁾ Adjusted EBITDA is defined as net income or loss for the period less interest, taxes, depreciation and amortization, foreign exchange losses (gains), non-cash stock-based compensation, and gains and losses that are extraordinary or non-recurring.