Wi2Wi Corporation Announces Three Months Ending September 30, 2024 (Unaudited)
Wi2Wi (TSXV:YTY) announced its Q3 2024 unaudited financial results, reporting revenues of $1.709 million, a 20% increase compared to Q3 2023. The company's gross margin improved from 16% in Q2 to 27% in Q3, driven by optimized product mix and cost efficiencies. However, the company recorded a net loss of $78,000, though improved from a $355,000 loss in Q3 2023. Cash position decreased to $467,000 from $1,012,000 year-over-year, while total assets increased to $9,224,000 from $7,568,000.
Wi2Wi (TSXV:YTY) ha annunciato i risultati finanziari non auditati per il Q3 2024, riportando ricavi di 1,709 milioni di dollari, un aumento del 20% rispetto al Q3 2023. Il margine lordo dell'azienda 猫 migliorato dal 16% nel Q2 al 27% nel Q3, grazie a un mix di prodotti ottimizzato e a efficienze di costo. Tuttavia, l'azienda ha registrato una perdita netta di 78.000 dollari, sebbene migliorata rispetto a una perdita di 355.000 dollari nel Q3 2023. La posizione di liquidit脿 猫 diminuita a 467.000 dollari rispetto a 1.012.000 dollari rispetto all'anno precedente, mentre il totale delle attivit脿 猫 aumentato a 9.224.000 dollari rispetto a 7.568.000 dollari.
Wi2Wi (TSXV:YTY) anunci贸 sus resultados financieros no auditados del Q3 2024, reportando ingresos de 1.709 millones de d贸lares, un aumento del 20% en comparaci贸n con el Q3 2023. El margen bruto de la empresa mejor贸 del 16% en el Q2 al 27% en el Q3, impulsado por una mezcla de productos optimizada y eficiencias en costos. Sin embargo, la empresa registr贸 una p茅rdida neta de 78.000 d贸lares, aunque mejor贸 respecto a una p茅rdida de 355.000 d贸lares en el Q3 2023. La posici贸n de efectivo disminuy贸 a 467.000 d贸lares desde 1.012.000 d贸lares interanualmente, mientras que el total de activos aument贸 a 9.224.000 d贸lares desde 7.568.000 d贸lares.
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Wi2Wi (TSXV:YTY) a annonc茅 ses r茅sultats financiers non audit茅s pour le T3 2024, rapportant des revenus de 1,709 millions de dollars, soit une augmentation de 20 % par rapport au T3 2023. La marge brute de l'entreprise a progress茅 de 16 % au T2 脿 27 % au T3, gr芒ce 脿 un mix produit optimis茅 et des 茅conomies de co没ts. Cependant, l'entreprise a enregistr茅 une perte nette de 78 000 dollars, bien qu'elle soit am茅lior茅e par rapport 脿 une perte de 355 000 dollars au T3 2023. Sa position de tr茅sorerie a diminu茅 脿 467 000 dollars contre 1 012 000 dollars d'une ann茅e sur l'autre, tandis que l'actif total a augment茅 脿 9 224 000 dollars contre 7 568 000 dollars.
Wi2Wi (TSXV:YTY) gab die nicht testierten Finanzergebnisse f眉r das 3. Quartal 2024 bekannt und berichtete von Einnahmen in H枚he von 1,709 Millionen Dollar, was einem Anstieg von 20% im Vergleich zum 3. Quartal 2023 entspricht. Die Bruttomarge des Unternehmens verbesserte sich von 16% im Q2 auf 27% im Q3, was auf eine optimierte Produktmix und Kosteneffizienz zur眉ckzuf眉hren ist. Das Unternehmen verzeichnete jedoch einen Nettoverlust von 78.000 Dollar, was eine Verbesserung gegen眉ber einem Verlust von 355.000 Dollar im 3. Quartal 2023 darstellt. Die Liquidit盲tsposition sank von 1.012.000 Dollar auf 467.000 Dollar im Jahresvergleich, w盲hrend die Gesam assets von 7.568.000 Dollar auf 9.224.000 Dollar anstiegen.
- Revenue increased 20% year-over-year to $1.709 million
- Gross margin improved from 16% to 27% quarter-over-quarter
- Net loss reduced significantly from $355,000 to $78,000 year-over-year
- Total assets increased from $7.568 million to $9.224 million
- Negative operating cash flow of $212,000 compared to positive $183,000 in Q3 2023
- Cash on hand decreased by 54% to $467,000 from $1.012 million
- Shareholders' equity declined from $4.280 million to $3.306 million
Company Focused on Top-Line Growth and Business Efficiencies
TORONTO, ON / ACCESSWIRE / November 14, 2024 / Wi2Wi Corporation (TSXV:YTY), a leading supplier of frequency control solutions, today announced its unaudited financial results for the third quarter ended September 30, 2024. The company reported revenues of
Key Financial Highlights
"Our Q3 results demonstrate the progress we're making on our path to increased revenue and profitability," said Ted Clark, CEO of Wi2Wi Corporation. "We have strengthened our gross margins and continue to focus on both top-line growth and operational efficiencies. These improvements reflect our team's commitment to delivering the highest quality products and driving value for our shareholders. Moving forward, we are expanding our footprint in high-growth sectors and building partnerships that will support sustained growth."
Wi2Wi continues to expand its network of manufacturing representatives and distribution partners as part of the ongoing top line growth strategy. With an unwavering commitment to quality and customer satisfaction, Wi2Wi remains dedicated to delivering exceptional products and services. The company's clear strategic vision and proactive approach to growth continue to drive substantial business improvement, making Wi2Wi well-positioned for future success.
3 Months ending September 30, 2024 Overview (Unaudited)
(In thousands of U.S. dollars) |
| Quarter 3 2024 |
|
| Quarter 3 2023 |
| ||
Revenue |
| $ | 1,709 |
|
| $ | 1,421 |
|
Net income (loss) |
|
| (78 | ) |
|
| (355 | ) |
Net cash provided by (used in) operations |
|
| (212 | ) |
|
| 183 |
|
Total assets |
|
| 9,224 |
|
|
| 7,568 |
|
Cash on hand |
|
| 467 |
|
|
| 1,012 |
|
Total current liabilities |
|
| 1,286 |
|
|
| 1,222 |
|
Shareholders' equity |
|
| 3,306 |
|
|
| 4,280 |
|
Detailed and historical financial information is available
Investor & Media Contact
Ted Clark, Chief Executive Office
+1-469-545-3423
[email protected]
About Wi2Wi Corporation
Wi2Wi is a specialized electronic component supplier with expertise in all aspects of frequency control devices as well as in wireless technologies. Wi2Wi's Precision Devices brand of products has earned a premier spot in numerous key markets including avionics, aerospace, industrial equipment, government, and the US military. Wi2Wi's frequency control products are best-in-class and of the highest quality.
Founded in 2005, Wi2Wi's headquarters, design center and state-of-the-art manufacturing facility are located in the heart of America's industrial belt in Middleton, WI. Wi2Wi can deliver specific solutions using its in-house design and manufacturing expertise, as well as leveraging many tier-1 global partnerships with numerous industry leading silicon and wireless technology suppliers.
Wi2Wi has partnered with best-in-class sales leaders. The company uses a global network of manufacturer's representatives to promote its products and services, and has partnered with world class distributors for the fulfillment of orders all of which augment a US-based direct sales team.
Wi2Wi is extremely proud to serve hundreds of the world's top companies with its made-in-America products.
Forward-Looking Statements: This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with the ability to access sufficient capital, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, stock market volatility. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward- looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Wi2Wi Corp.
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