All amounts in this press release are in Canadian dollars, unless otherwise stated.
- Revenues from customers grew 52% to $27.1 million vs Q1-2022
- For Q1-2023, Gross margin was 11.6%, an increase of 860 bps over Q1-2022, and Adjusted EBITDA* totaled -$2 million, an improvement of $1.8 million over Q1-2022
- Total liquidity of $49.1 million as at September 30, 2022, including cash and cash equivalents of $42.8 million
- Total long-term debt of $9 million as at September 30, 2022
- For financial year 2023, NanoXplore is guiding for $110 million in total revenues
- The Corporation intends to increase its capacity 5-fold to reach 20,000 ton/year in graphene and battery materials in 5 years
- The Corporation will expand its Sheet Molding Compound (SMC) forming capacity by investing in an additional 10m-lbs capacity to target the large, growing, and promising lightweighting materials market, using its proprietary GrapheneBlack SMCTM
- The Corporation will actively participate in the energy transition and sustainability megatrends
A. THREE-MONTH PERIOD
|Revenues from customers||27,147,167||17,830,017||9,317,150||52%|
- Gross margin on revenues from customers increased by $2,624,033 compared to last year due to higher sales as describe above, improved productivity and cost control; and
- This was offset by higher administrative expenses (SG&A and R&D) of $736,229 mainly due additional headcounts and higher wages, including higher accrued variable compensation.
B. THREE-MONTH PERIOD
|Assets||Capacity Addition||Location||Commissioning year||Potential Annual Revenue|
|Graphene and Battery Materials||12,000 tons/year||Montreal, QC||2025||$100 million|
|SMC||10M lbs/year||Newton, NC||2025||$80 million|
|Graphene||4,000 tons/year||HQ||2026||$40 million|
* Non-IFRS Measures
The condensed interim consolidated financial statements were prepared using results and financial information determined under IFRS. However, the Company considers certain non-IFRS financial measures as useful additional information in measuring the financial performance and condition of the Company. These measures, which the Company believes are widely used by investors, securities analysts and other interested parties in evaluating the Company’s performance, do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies, nor should they be construed as an alternative to financial measures determined in accordance with IFRS. Non-IFRS measures include “Adjusted EBITDA”.
NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in industrial markets. The Company provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. NanoXplore is headquartered in Montreal, Quebec with manufacturing facilities in Canada, the United States and Europe.
This press release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, and subject to risks and uncertainties. All forward-looking statements are based on our beliefs as well as assumptions based on information available at the time the assumption was made and on management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors deemed appropriate in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Forward-looking statements are not facts, but only predications and can generally be identified by the use of statements that include phrases such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “foresee”, “grow”, “expect”, “plan”, “intend”, “forecast”, “future”, “guidance”, “may”, “predict”, “project”, “should”, “strategy”, “target”, “will” or similar expressions suggesting future outcomes.
Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Such forward-looking information necessarily involves known and unknown risks and uncertainties, including the relevant assumptions and risks factors set out in NanoXplore’s most recent annual management discussion and analysis filed on SEDAR at www.sedar.com, which may cause NanoXplore’s actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. These risks, uncertainties and other factors include, among others, the uncertain and unpredictable condition of global economy, notably as a consequence of the Covid-19 pandemic. Any forward- looking information is made as of the date hereof and, except as required by law, NanoXplore does not undertake any obligation to update or revise any forward–looking statement as a result of new information, subsequent events or otherwise.
Forward-looking statements reflect management’s current beliefs, expectations and assumptions and are based on information currently available to management. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated by such statements.
No securities regulatory authority has either approved or disapproved the contents of this press release.
For further information:
Investors and media
Director of Investor Relations
Tel: 1 438 476 1927