BURLINGTON -
Certain highlights from these financial results and from the MD&A follow. All financial results are reported in Canadian dollars unless otherwise stated.
Notable Developments
Financial Results for Q3 2023
Q3 2023 financial highlights
Revenues decreased 25%, or
Net loss of
Adjusted EBITDA 1 declined 876%, or
Fiscal 2023 Guidance Not Reinstated
As previously disclosed, management will not be able to provide any updates regarding guidance, including projected revenue and Adjusted EBITDA, until the completion of the Company s strategic review and a reassessment of assumptions related thereto.
Non-IFRS Measures
This press release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from management s perspective. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS. We use non-IFRS measures to provide investors with supplemental measures. Management also uses non-IFRS measures internally in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess our ability to meet our future debt service, capital expenditure and working capital requirements. Management believes these non-IFRS measures and industry metrics are important supplemental measures of operating performance because they eliminate items that have less bearing on operating performance and highlight trends in the core business that may not otherwise be apparent when relying solely on IFRS financial measures. Management believes such measures allow for assessment of our operating performance and financial condition on a basis that is more consistent and comparable between reporting periods. We also believe that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of public companies.
About
Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Company s current expectations regarding future events, including statements regarding its financial position, business strategy, growth strategy, milestones, budgets, operations, financial results, plans and objectives. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as may , will , could , expects , anticipates , believes , estimates , likely , potential , continue , or future or the negative or other variations of these words or other comparable words or phrases.
Forward-looking information is based on a number of assumptions including, without limitation, the Company s ability to meet its financing and liquidity requirements on a continuing basis; its ability to provide projected revenue and Adjusted EBITDA upon completion of the strategic review; statements regarding the Company s ongoing strategic review and its ability to continue as a going concern. The Company is subject to a number of risks and uncertainties, many of which are beyond the Company s control. Such risks and uncertainties include, but are not limited to, the factors discussed under Risk Factors in the Company s annual information form dated
Contact:
Email: IR@Anaergia.com
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