Evome Medical Technologies Punctuates Turn Around Plan With Strong Fourth Quarter Resulting in Positive Annual Adjusted EBITDA for Fiscal Year 2023
Evome Medical Technologies Punctuates Turn Around Plan With Strong Fourth Quarter Resulting in Positive Annual Adjusted EBITDA for Fiscal Year 2023
NEW YORK, April 01, 2024 (GLOBE NEWSWIRE) -- Evome Medical Technologies Inc. (the "Company" or "Evome") announced today preliminary annual financial results for the year ending December 31, 2023. Because of a strong fourth quarter, the Company generated positive Adjusted EBITDA for 2023.
紐約,2024年4月1日(GLOBE NEWSWIRE)——Evome Medical Technologies Inc.(“公司” 或 “Evome”)今天公佈了截至2023年12月31日的年度初步財務業績。由於第四季度表現強勁,公司2023年調整後息稅折舊攤銷前利潤爲正。
Summary of Preliminary Annual Financial Results for 2023
2023年初步年度財務業績摘要
- Generated annual revenues of $62.6 million
- Generated annual gross margin of $22.5 million
- Annual gross margin as percentage of sales of 36%
- Generated annual Adjusted EBITDA of $852,000
- 年收入爲6,260萬美元
- 年毛利率爲2,250萬美元
- 年毛利率佔銷售額的百分比爲36%
- 調整後的年度息稅折舊攤銷前利潤爲85.2萬美元
"We can now say with confidence, we have completed the turn-around of this company," said CEO Mike Seckler. "This past year, 2023, was a tale of two different companies. The first two quarters were frankly calamitous with mounting losses, unserviceable debt and flat or declining revenues. I was brought into the company by the Board at the end of June coinciding with the end of the second quarter. Starting July 1, 2023, the first day of our third quarter, our team focused on increasing sales, cutting costs and restructuring our debt to make it manageable and serviceable. I am very proud of our team at the operating unit level, they understood the gravity of the situation and we worked together to make tough decisions that resulted in two consecutive quarters of positive Adjusted EBITDA. I am pleased with our bankers who worked with our creditors to restructure our debt to give us room to turn this company around. I am also grateful that we had patient creditors that understood and believed in the plan."
首席執行官邁克·塞克勒說:“我們現在可以自信地說,我們已經完成了這家公司的轉型。”“過去的一年,即2023年,是兩家不同公司的故事。坦率地說,前兩個季度是災難性的,虧損不斷增加,債務無法償還,收入持平或下降。我於6月底被董事會帶入公司,恰逢第二季度末。從 2023 年 7 月 1 日,即我們第三季度的第一天開始,我們的團隊專注於增加銷售額、削減成本和重組債務,使其易於管理和可用。我爲我們的運營單位層面的團隊感到非常自豪,他們了解局勢的嚴重性,我們共同努力做出了艱難的決定,使調整後的息稅折舊攤銷前利潤連續兩個季度實現正增長。我對我們的銀行家們感到滿意,他們與債權人合作重組了債務,爲我們提供了扭轉這家公司局面的空間。我也很感激我們有耐心的債權人理解並相信該計劃。”
"As our first quarter ends, we continue to make improvements. But rather than working to shore up the company, we are working on several fronts to increase revenues and profits. We are working to reduce debt by divesting non-core business units. We have also launched our RST product and have several orders. We have very strong demand internationally and spent the first quarter retooling our operations to deliver the RST and additional products overseas. We anticipate this will be reflected in improved revenues and margins from the second quarter onward. We also plan to launch the SpaceTek Knee product, co-developed by NASA, toward the end of the year. Because we are driving toward a growing and profitable business with a normalized level of debt, we are finding more opportunities to expand our business. I am excited to report our first quarter accomplishments soon. And lastly, I appreciate our shareholders support of me and my plan. I believe we have succeeded in saving this company, now we focus on improving the share price."
“隨着第一季度的結束,我們將繼續做出改進。但是,我們沒有努力支撐公司,而是在多個方面努力增加收入和利潤。我們正在努力通過剝離非核心業務部門來減少債務。我們還推出了我們的RST產品並下了幾筆訂單。我們在國際上的需求非常強勁,我們在第一季度對業務進行了重組,以向海外交付RST和其他產品。我們預計,從第二季度起,收入和利潤率的提高將反映在收入和利潤率的提高上。我們還計劃在今年年底推出由美國宇航局共同開發的SpaceTek Knee產品。由於我們正在朝着債務水平正常的增長和盈利的業務邁進,因此我們正在尋找更多擴展業務的機會。我很高興很快就會報告我們在第一季度取得的成績。最後,我感謝股東對我和我的計劃的支持。我相信我們已經成功拯救了這家公司,現在我們專注於提高股價。”
Unless otherwise specified, all financial information is presented in Canadian dollars ("$", "dollars" and "C$") and has been rounded to the nearest hundred thousand. The Company will file its financial statements for the year ended December 31, 2023, and related management discussion and analysis (in the form of an annual report on Form 10-K) on SEDAR+ and with the United States Securities and Exchange Commission on April 16, 2024.
除非另有說明,否則所有財務信息均以加元(“美元”、“美元” 和 “加元”)列報,並已四捨五入到最接近的十萬加元。公司將於2024年4月16日向SEDAR+和美國證券交易委員會提交截至2023年12月31日止年度的財務報表,以及相關的管理層討論和分析(以10-K表年度報告的形式)。
Mike Seckler
Chief Executive Officer
Tel: 1 (800) 760-6826
Email: Info@Salonaglobal.com
邁克·塞克勒
首席執行官
電話:1 (800) 760-6826
電子郵件:Info@Salonaglobal.com
Cautionary Statements
警示聲明
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所風險交易所policies 中定義)均不對本release 的充分性或準確性承擔責任。
Certain statements contained in this press release constitute "forward-looking information" within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. These statements can be identified by the use of forward-looking terminology such as "expects" "believes", "estimates", "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", and "anticipate", and similar expressions as they relate to the Company, including: the financial results of 2023; the Company increasing revenues and profits; the Company reducing debt by divesting non-core business units; the Company anticipating improved revenues and margins from the second quarter onward; and the Company launching its SpaceTek Knee product toward the end of the year. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including: the completion of normal quarter and year end accounting procedures and adjustments not resulting in any material differences; the successful launch and sales of Reactive Step Trainer (RST) in Q2 which is a higher margin product then the Company's existing products; the Company successfully identifying a buyer for a non-core business and negotiating and closing a sale; the Company having the necessary capital to complete its business objectives. The Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include but are not limited to the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; ongoing or new disruptions in the supply chain, the extent and scope of such supply chain disruptions, and the timing or extent of the resolution or improvement of such disruptions; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations; granting of permits and licenses in a highly regulated business; the overall difficult litigation environment, including in the United States; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; as well as those risk factors discussed or referred to in the Company's disclosure documents filed with United States Securities and Exchange Commission and available at www.sec.gov, and with the securities regulatory authorities in certain provinces of Canada and available at . Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
本新聞稿中包含的某些陳述構成《1995年私人證券訴訟改革法》和適用的加拿大證券laws 中the 定義的 “前瞻性信息”。這些陳述可以通過使用前瞻性術語來識別,例如 “期望” “相信”、“估計”、“可能”、“將”、“可能”、 “應該”、“潛在”、 “將”、“尋找”、“打算”、 “計劃” 和 “預測”,以及與之相關的類似表情to 該公司,包括:the 2023年的財務業績;公司增加收入和利潤;公司通過剝離非核心業務部門減少債務;公司預計從第二季度起收入和利潤率將提高;以及該公司將在年底推出SpaceTek Knee產品。除historical 事實陳述以外,所有statementsother 都可能是前瞻性的 信息。此類陳述反映了公司當前views 和對未來events 的意向,以及公司目前獲得的信息,and 受某些風險、uncertainties 和假設的約束,包括:正常的季度和年終會計程序的完成以及調整未導致任何結果實質性差異;第二季度成功推出並銷售了Reactive Step Trainer(RST),該產品的利潤率高於公司現有產品;公司成功地爲非核心業務確定了買家並進行了談判並完成了銷售;公司擁有完成業務目標所需的資金。該公司警告說,包含herein 的前瞻性陳述受重要因素的限制,這些因素可能導致實際業績與此類陳述所反映的those 存在重大差異。這些因素包括但不限於公司運營地區的general 業務andeconomicconditions;which公司對execute 的關鍵priorities,including 成功完成收購、業務 保留和strategic 計劃和 吸引、培養and 留住關鍵高管;難以整合新收購的businesses;ongoing 或新的顛覆性因素供應鏈、此類供應鏈disruptions 的範圍和範圍,以及解決或改善此類中斷的時機或程度;to 實施業務戰略和尋求商機的能力;disruptions in 或對公司信息技術、互聯網、網絡接入或其他攻擊(包括cyber-攻擊)voice 或數據communications 系統或服務;公司面臨的各種欺詐或其他criminal 行爲的演變;第三方未能遵守其規定obligations 對公司或其affiliates;current 法律法規的新內容和變更或適用的 影響;granting 對高度監管企業的許可證和執照的影響;overall 艱難litigation 環境,包括美國;競爭加劇;外幣匯率變化;inincreasedfundingcosts 以及由於市場流動性不足而導致的市場波動以及competition 融資;availability 資金and 用於運營的資源;重要的accounting 估計和會計準則、政策的變化, 以及Company 使用的方法;自然和非自然的發生 災難性eventsand 索賠resulting 來自這樣的events;以及所討論的風險因素或referred 到in 美國證券交易委員會的披露Company 的披露documentsfiledandavailable 在www .sec.gov,還有加拿大某些省份的the 證券監管機構,available 位於。如果任何factor 以意想不到的方式影響公司,或者assumptions 標的the 前瞻性information 被證明不正確,則說明實際業績或事件may 與materially 與預測的結果不同or 事件。Any 此類前瞻性信息在entirety 中符合該警告expressly 的條件statement。此外,the Company 對這種forward-LOOKINGinformation 的準確性或completeness 不承擔任何責任。assume本新聞稿中包含的看上去像forward 的信息is 截至本新聞稿datereleaseand 公司沒有義務公開更新或修改any forward-lookinginformation,other 超出了適用法律的要求。
Non-GAAP Measures
非公認會計准則指標
This press release refers to "Adjusted EBITDA" which is a non-GAAP and non-IFRS financial measure that does not have a standardized meaning prescribed by GAAP or IFRS. The Company's presentation of this financial measure may not be comparable to similarly titled measures used by other companies. This non-GAAP financial measure assists the Company's management in comparing its operating performance over time because certain items may obscure underlying business trends and make comparisons of long-term performance difficult, as they are of a nature and/or size that occur with inconsistent frequency or relate to discrete acquisition plans that are fundamentally different from the ongoing operating plans of the Company. The Company's management also believes that presenting this measure allows investors to view the Company's performance using the same measures that the Company uses in evaluating its financial and business performance and trends. "Adjusted EBITDA" is defined as net operating loss excluding depreciation of property and equipment, amortization of right-of-use asset, amortization of intangible asset, severance expense due to restructuring, and stock-based compensation. The following table provides reconciliation between net operating (loss) and Adjusted EBITDA:
本新聞稿提及 “調整後的息稅折舊攤銷前利潤”,這是一項非公認會計准則和非國際財務報告準則的財務指標,not 具有公認會計原則或國際財務報告準則規定的標準化含義。公司對本財務measure 的列報可能無法與其他公司使用的類似標題的衡量標準相提並論。這種非公認會計准則財務指標有助於公司管理層比較其一段時間內的經營業績,因爲某些項目可能會掩蓋潛在的業務趨勢,難以比較長期業績,因爲它們的性質和/或規模的發生頻率不一致,或者與離散的收購計劃有關,與公司正在進行的運營計劃根本不同。公司管理層還認爲,提出這項衡量標準使投資者能夠使用與公司評估其財務和業務業績及趨勢相同的衡量標準來看待公司的業績。 “調整後息稅折舊攤銷前利潤” 定義爲淨營業虧損,不包括財產和設備折舊、使用權資產攤銷、無形資產攤銷、重組產生的遣散費用和股票薪酬。 下表提供了淨營業(虧損)與調整後息稅折舊攤銷前利潤之間的對賬:
For the year ended December 31, 2023 |
|||
Net operating (loss) | $ | (5,544,714) | |
Depreciation of property and equipment | 1,002,627 | ||
Amortization of right-of-use asset | 2,023,956 | ||
Amortization of intangible asset | 1,505,108 | ||
Severance Expenses / Restructuring | 576,101 | ||
Stock based compensation | 1,288,455 | ||
Adjusted EBITDA | $ | 851,533 |
For 年結束了 2023年12月31日 |
|||
淨營業(虧損) | $ | (5,544,714) | |
財產和設備的折舊 | 1,002,627 | ||
使用權資產的攤銷 | 2,023,956 | ||
無形資產攤銷 | 1,505,108 | ||
遣散費/重組 | 576,101 | ||
基於股票的薪酬 | 1,288,455 | ||
調整後 EBITDA | $ | 851,533 |
Preliminary Financial Metrics
初步財務指標
This press release contains certain pre-released financial metrics. The financial metrics contained in this press release are preliminary and represent the most current information available to the Company's management, as financial closing procedures for the fourth quarter and year ended December 31, 2023 are not yet complete. The Company's actual consolidated audited financial statements for such period may result in material changes to the financial metrics summarized in this press release (including by any one financial metric, or all of the financial metrics, being below or above the figures indicated) as a result of the completion of normal quarter and year end accounting procedures and adjustments, and also what one might expect to be in the final consolidated financial statements based on the financial metrics summarized in this press release. Although the Company believes the expectations reflected in this press release are based upon reasonable assumptions, the Company can give no assurance that actual results will not differ materially from these expectations.
本新聞稿包含某些預先發布的財務指標。本新聞稿中包含的財務指標是初步的,代表了公司管理層獲得的最新信息,因爲截至2023年12月31日的第四季度和年度的財務結算程序尚未完成。由於正常的季度和年終會計程序和調整的完成,本新聞稿中概述的財務指標(包括低於或高於所示數字的任何一項財務指標或所有財務指標)以及根據本新聞稿中滙總的財務指標在最終合併財務報表中可能出現的變化,公司在此期間的實際合併財務報表可能會發生重大變化。儘管公司認爲本新聞稿中反映的預期是基於合理的假設,但公司無法保證實際業績不會與這些預期有重大差異。