LeddarTech Holdings Inc. (LeddarTech) reported its financial results for the third quarter of fiscal year 2024, ending June 30, 2024. The company, which specializes in AI-based sensor fusion and perception software for Advanced Driver Assistance Systems (ADAS), Autonomous Driving (AD), and parking applications, announced revenues of $1.4 million, consistent with the previous year's quarter. Gross profit for the quarter was $537,435, a significant improvement from a gross loss of $66,127 in the same period last year. The increase in gross profit was attributed to a comparison against an inventory write-down in the previous year's quarter. Operating expenses rose to $10.9 million from $8.4 million, driven by higher stock-based compensation expenses and increased selling costs. The net loss for the quarter was $7.5 million, compared...Show More

LeddarTech Holdings Inc. (LeddarTech) reported its financial results for the third quarter of fiscal year 2024, ending June 30, 2024. The company, which specializes in AI-based sensor fusion and perception software for Advanced Driver Assistance Systems (ADAS), Autonomous Driving (AD), and parking applications, announced revenues of $1.4 million, consistent with the previous year's quarter. Gross profit for the quarter was $537,435, a significant improvement from a gross loss of $66,127 in the same period last year. The increase in gross profit was attributed to a comparison against an inventory write-down in the previous year's quarter. Operating expenses rose to $10.9 million from $8.4 million, driven by higher stock-based compensation expenses and increased selling costs. The net loss for the quarter was $7.5 million, compared to a net loss of $4.2 million in the prior year. Adjusted EBITDA loss was $7.8 million, widening from a loss of $5.3 million in the previous year's quarter. The company also announced a bridge financing agreement in principle with principal shareholders and its main lender, Fédération des caisses Desjardins du Québec, for an aggregate of US$9.0 million to meet near-term obligations while seeking US$35.0 million or more in additional equity capital. The bridge financing is subject to finalization and execution of definitive agreements.