- Strong Revenue Performance and Continued Execution on Capital Allocation Strategy
"Our capital allocation strategy is clearly working as demonstrated by our significant revenue and Adjusted EBITDA1 growth. In just two years, we have scaled the business approximately eightfold. We've deployed a total of
Fourth Quarter Fiscal 2022 Highlights
- Revenue of
$129.7 million , an increase of$45.3 million , or 54%, from the same period in the prior year. - Net income of
$(3.3) million , a decrease of$9.6 million , from the same period in the prior year. - Adjusted EBITDA1 of
$75.2 million , an increase of$26.0 million , or 53%, from the same period in the prior year.
Fiscal 2022 Highlights
- Revenue of
$474.8 million , an increase of$265.9 million , or 127%, from the same period in the prior year. - Net income of
$7.8 million , an increase of$48.7 million , from the same period in the prior year. - Adjusted EBITDA1 of
$266.9 million , an increase of$150.6 million , or 129%, from the same period in the prior year.
Quarterly Dividend
On
Conference Call Notification
The Company will hold a conference call to discuss its business later today,
DATE: Monday, September 26, 2022
TIME: 5:00 p.m. ET
DIAL-IN NUMBER: (416) 764-8659 or (888) 664-6392
REFERENCE NUMBER: 44744867
TAPED REPLAY: (416) 764-8677 or (888) 390-0541
REPLAY CODE: 744867#
This call is being webcast and can be accessed by going to:
https://app.webinar.net/kaxXzyl5Odw
- Represents a non-IFRS measure. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. For the relevant definition, see the "Non-IFRS Financial Measures" section of this press release. Management believes non-IFRS measures, including Adjusted EBITDA, provide supplementary information to IFRS measures used in assessing the performance of the business. Please see "Cautionary Note Regarding Non-IFRS Measures" and "Select Information and Reconciliation of Non-IFRS Measures" in the Company's most recent Management's Discussion and Analysis, which is available on the Company's profile on SEDAR at www.sedar.com, for further details on certain non-IFRS measures, including relevant reconciliation of Adjusted EBITDA to its most directly comparable IFRS measure, which information is incorporated by reference herein.
About
Additional information can be found at www.dyedurham.com.
Non-IFRS Measures
This press release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, 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 those IFRS measures by providing further understanding of the Company's results of operations from management's perspective and to discuss
Please see "Cautionary Note Regarding Non-IFRS Measures" and "Select Information and Reconciliation of Non-IFRS Measures" in the Company's most recent Management's Discussion and Analysis, which is available on the Company's profile on SEDAR at www.sedar.com, for further details on certain non-IFRS measures, including relevant reconciliations of each Non-IFRS measure to its most directly comparable IFRS measure, which information is incorporated by reference herein.
EBITDA
EBITDA means net income (loss) before amortization and depreciation expenses, finance and interest costs, and provision for income taxes.
Adjusted EBITDA
Adjusted EBITDA adjusts EBITDA for stock-based compensation expense, asset impairment charges, loss on settlement of loans and borrowings, gains or losses from changes in fair value of derivative financial instruments and contingent consideration liabilities measured at fair value through profit or loss, specific transaction related expenses related to acquisitions, IPO and capital structure reorganization, operational restructuring costs, restructuring costs includes impact to the full year of cost synergies related to the reduction of employees in relation to acquisitions.
Forward-looking Statements
This press release may contain forward-looking information and forward-looking statements within the meaning of applicable securities laws, which reflects the Company's current expectations regarding future events, including with respect to the Company's financial outlook and business strategy. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance.
Specifically, statements regarding
The forward looking information is subject to significant risks including, without limitation: that the Company will be unable to effectively execute against its key strategic growth priorities; the Company will be unable to continue to retain and grow its existing customer base and market share; risks related to the Company's business and financial position; that
If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents
All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.
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