Route1 Announces Q2 2023 Financial Results
Route1 Announces Q2 2023 Financial Results
TORONTO, ON / ACCESSWIRE / August 25, 2023 / Route1 Inc. (OTCQB:ROIUF)(TSXV:ROI) (the "Company" or "Route1"), an advanced North American provider of data-centric business empowerment solutions, today reported its financial results for the three and six month period ended June 30, 2023.
多倫多,on/ACCESSWIRE/2023年8月25日/Route1 Inc.(OTCQB:ROIUF)(多倫多證券交易所股票代碼:ROI)(以下簡稱“公司”或“Route1”)今天公佈了截至2023年6月30日的三個月和六個月的財務業績。
Statement of operations
In 000s of CAD dollars
|
Q22023 | Q12023 | Q42022 | Q32022 | Q22022 | Q12022 | |||||||||||
Revenue |
|||||||||||||||||
Subscription and services |
1,159 | 1,086 | 1,103 | 1,326 | 1,854 | 1,911 | |||||||||||
Devices and appliances |
3,026 | 3,486 | 2,279 | 5,519 | 5,251 | 2,781 | |||||||||||
Other |
(1) | 3 | 6 | 2 | 9 | 3 | |||||||||||
Total revenue |
4,184 | 4,575 | 3,388 | 6,847 | 7,114 | 4,695 | |||||||||||
Cost of revenue |
3,011 | 2,897 | 2,032 | 4,842 | 5,015 | 2,572 | |||||||||||
Gross profit |
1,173 | 1,678 | 1,356 | 2,005 | 2,099 | 2,123 | |||||||||||
Operating expenses |
1,533 | 1,805 | 1,859 | 1,802 | 1,972 | 2,012 | |||||||||||
Operating profit 1 |
(360) | (128) | (503) | 203 | 127 | 111 | |||||||||||
Total other expenses 2, 3 |
280 | 177 | 1,223 | 139 | 183 | 112 | |||||||||||
Net income (loss) |
(640) | (305) | (1,726) | 64 | (56) | (1) |
營運說明書
以2000加元計
|
20223季度 | Q12023 | Q42022 | Q32022 | Q22022 | Q12022 | |||||||||||
收入 |
|||||||||||||||||
訂閱和服務 |
1,159 | 1,086 | 1103 | 1326 | 1854 | 1911 | |||||||||||
設備和用具 |
3,026 | 3486 | 2,279 | 5519 | 5251 | 2781 | |||||||||||
其他 |
(1) | 3. | 6. | 2. | 9. | 3. | |||||||||||
總收入 |
4,184 | 4575 | 3388 | 6847 | 7,114 | 4695 | |||||||||||
收入成本 |
3,011 | 2897 | 2,032 | 4842 | 5,015 | 2572 | |||||||||||
毛利 |
1173 | 1,678 | 1,356 | 2005 | 2099 | 2,123 | |||||||||||
運營費用 |
1,533 | 1,805 | 1859 | 1,802 | 1972年 | 2012 | |||||||||||
營業利潤1 |
(360) | (128) | (503) | 203 | 127 | 111 | |||||||||||
其他費用合計2、3 |
二百八十 | 177 | 1223 | 一百三十九 | 一百八十三 | 一百一十二 | |||||||||||
淨收益(虧損) |
(640) | (305) | (1726) | 64 | (56) | (1) |
1 Before stock-based compensation
1在基於股票的薪酬之前
2 Includes gain on litigation, gain or loss on asset disposal, stock-based compensation expense, interest expense, income tax recovery, foreign exchange loss or gain, other expenses and acquisition expense.
2.包括訴訟收益、資產處置收益或損失、股票補償費用、利息費用、所得稅追回、匯兌損失或收益、其他費用和收購費用。
3 For Q4 2022, the Company wrote down its deferred tax asset and liabilities with a net impact of ($1,141).
3.2022年第四季度,公司減記了遞延稅項資產和負債,淨影響為1,141美元。
Subscription and services revenue
in 000s of CAD dollars
|
Q22023 | Q12023 | Q42022 | Q32022 | Q22022 | Q12022 | |||||||||||
Application software |
343 | 456 | 475 | 804 | 1,402 | 1,483 | |||||||||||
Other services |
816 | 630 | 628 | 522 | 452 | 428 | |||||||||||
Total |
1,159 | 1,086 | 1,103 | 1,326 | 1,854 | 1,911 |
訂閱和服務收入
以2000加元計
|
20223季度 | Q12023 | Q42022 | Q32022 | Q22022 | Q12022 | |||||||||||
應用軟體 |
343 | 四五六 | 四百七十五 | 八百零四 | 1402 | 1,483 | |||||||||||
其他服務 |
八百一十六 | 630 | 六百二十八 | 五百二十二 | 四百五十二 | 四百二十八 | |||||||||||
總計 |
1,159 | 1,086 | 1103 | 1326 | 1854 | 1911 |
Other services revenue
in 000s of CAD dollars
|
Q22023 | Q12023 | Q42022 | Q32022 | Q22022 | Q12022 | |||||||||||
Technology life-cycle maintenance and support |
310 | 285 | 300 | 275 | 214 | 209 | |||||||||||
Professional services |
506 | 345 | 328 | 246 | 238 | 219 | |||||||||||
Total |
816 | 630 | 628 | 521 | 452 | 428 |
其他服務收入
以2000加元計
|
20223季度 | Q12023 | Q42022 | Q32022 | Q22022 | Q12022 | |||||||||||
技術生命週期維護和支持 |
310 | 二百八十五 | 300個 | 二百七十五 | 214 | 209 | |||||||||||
專業服務 |
506 | 三百四十五 | 三百二十八 | 二百四十六 | 二百三十八 | 219 | |||||||||||
總計 |
八百一十六 | 630 | 六百二十八 | 五二一 | 四百五十二 | 四百二十八 |
Adjusted EBITDA
in 000s of CAD dollars
|
Q22023 | Q12023 | Q42022 | Q32022 | Q22022 | Q12022 | |||||||||||
Adjusted EBITDA 3
|
(27) | 219 | (142) | 543 | 459 | 446 | |||||||||||
Amortization |
332 | 346 | 361 | 340 | 332 | 335 | |||||||||||
Operating profit |
(360) | (128) | (503) | 203 | 127 | 111 |
調整後的EBITDA
以2000加元計
|
20223季度 | Q12023 | Q42022 | Q32022 | Q22022 | Q12022 | |||||||||||
調整後的EBITDA3.
|
(27) | 219 | (142) | 543 | 四百五十九 | 446 | |||||||||||
攤銷 |
三三二 | 三百四十六 | 三六一 | 340 | 三三二 | 三百三十五 | |||||||||||
營業利潤 |
(360) | (128) | (503) | 203 | 127 | 111 |
3 Adjusted EBITDA is defined as earnings before interest, income taxes, depreciation and amortization, stock-based compensation, patent litigation, restructuring and other costs. Adjusted EBITDA does not have any standardized meaning prescribed under IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. Adjusted EBITDA allows Route1 to compare its operating performance over time on a consistent basis.
3.調整後的EBITDA被定義為扣除利息、所得稅、折舊和攤銷、基於股票的補償、專利訴訟、重組和其他成本之前的收益。經調整的EBITDA沒有國際財務報告準則規定的任何標準化含義,因此不太可能與其他公司提出的類似措施相媲美。調整後的EBITDA使Route1能夠在一致的基礎上比較其隨時間推移的運營業績。
Balance sheet extracts
In 000s of CAD dollars
|
Jun 30
2023
|
Mar 31
2023
|
Dec 31
2022
|
Sep 30
2022
|
Jun 30
2022
|
Mar 31
2022
|
|||||||||||
Cash |
27 | 80 | 79 | 103 | 299 | 481 | |||||||||||
Total current assets |
3,563 | 3,691 | 4,901 | 5,445 | 4,593 | 3,618 | |||||||||||
Total current liabilities |
8,484 | 8,001 | 8,825 | 9,629 | 9,012 | 8,147 | |||||||||||
Net working capital |
(4,921) | (4,329) | (3,924) | (4,184) | (4,419) | (4,529) | |||||||||||
Total assets |
10,571 | 11,016 | 12,355 | 14,826 | 13,909 | 12,574 | |||||||||||
Net bank debt and seller notes |
3,350 | 3,344 | 3,042 | 3,018 | 2,515 | 2,297 | |||||||||||
Total shareholders' equity |
936 | 1,499 | 1,765 | 3,209 | 2,883 | 2,774 |
資產負債表摘錄
以2000加元計
|
6月30日
2023年年
|
3月31日
2023年年
|
12月31日
2022
|
9月30日
2022
|
6月30日
2022
|
3月31日
2022
|
|||||||||||
現金 |
27 | 80 | 79 | 103 | 299 | 四百八十一 | |||||||||||
流動資產總額 |
3563 | 3691 | 4901 | 5445 | 4593 | 3618 | |||||||||||
流動負債總額 |
8,484 | 8,001 | 8825 | 9629 | 9,012 | 8,147 | |||||||||||
淨營運資本 |
(4921) | (4329) | (3924) | (4,184) | (4,419) | (4529) | |||||||||||
總資產 |
10,571 | 11,016 | 12,355 | 14,826 | 13,909 | 12,574 | |||||||||||
淨銀行債務和賣方票據 |
3350 | 3344 | 3042 | 3,018 | 2515 | 2297 | |||||||||||
股東權益總額 |
九三六 | 1499 | 1,765 | 3209 | 2883 | 2774 |
As of August 25, 2023, there are a total of 2,275,000 options currently outstanding under the stock option plan.
截至2023年8月25日,根據股票期權計劃,目前共有2275,000份期權未償還。
Business and Operations Metrics
業務和運營指標
Further to the Company's prior news releases, shareholder calls and webcast presentations, Route1 has communicated operating metrics that it believes assist in establishing whether the Company's business model is generating shareholder value. The Company is adapting to an increasingly difficult competitive environment and is achieving success in the automatic license plate recognition technology component of its business. It is the Company's goal to demonstrate success through cash flow generation that provides for impactful debt reduction and improved returns on invested capital, and additionally justifies scaling the business model.
除了公司之前發佈的新聞稿、股東電話會議和網路直播演示外,Route1還傳達了它認為有助於確定公司的商業模式是否正在產生股東價值的運營指標。該公司正在適應日益艱難的競爭環境,並在其業務中的自動車牌識別技術部分取得成功。該公司的目標是通過產生現金流來展示成功,從而有效地減少債務和提高投資資本回報,並證明擴展業務模式是合理的。
Further in In today's update, we have added a third metric, quarterly fixed costs.
在今天的更新中,我們進一步增加了第三個指標,即季度固定成本。
A. Gross profit (GP) generated from non-MobiKEY and other Route1 software application sales on a quarterly basis needs to achieve and maintain a minimum value of US $1.15 million ("Benchmark A"). Gross profit is defined as revenue less devices and appliances direct costs but does not include other direct costs including salaries, wages and consulting fees, bad debts and travel expenses.
一個。毛利(GP)每季度從非MobiKEY和其他Route1軟體應用程式銷售中產生的數據需要達到並保持最低價值115萬美元(“基準A”)。毛利潤的定義是收入減去設備和家電的直接成本,但不包括其他直接成本,包括工資、工資和諮詢費、壞賬和差旅費用。
in US 000s |
Q2-23 | Q1-23 | Q4-22 | Q3-22 | Q2-22 | Q1-22 | |||||||||||
Quarter Value |
$ | 794 | $ | 1,163 | $ | 862 | $ | 1,231 | $ | 896 | $ | 876 |
在美國2000年代 |
Q2-23 | 第一季度至第二十三季度 | 第四季度至第二十二季度 | 第三季度至第二十二季度 | 第二季度至第二十二季度 | 第一季度至第二十二季度 | |||||||||||
季度價值 |
$ | 七百九十四 | $ | 1163 | $ | 八百六十二 | $ | 1231 | $ | 八百九十六 | $ | 876 |
B. Recurring ALPR support contracts need to grow to in excess of US $1.0 million in annualized revenue ("Benchmark B")Route1 started the 2022 fiscal year at a base of US $595,000 per annum.
胡麻B.經常性的ALPR支持合同需要增長到超過100萬美元的年化收入(“基準B”)Route1以每年595,000美元的基數開始2022財年。
Route1 started the 2022 fiscal year at a base of US $595,000 per annum.
Route1在2022財年開始時的基數為每年595,000美元。
in US 000s |
Q2-23 | Q1-23 | Q4-22 | Q3-22 | Q2-22 | Q1-22 | |||||||||||
Quarter Value |
$ | 228 | $ | 212 | $ | 222 | $ | 213 | $ | 168 | $ | 165 | |||||
Annualized Value |
$ | 912 | $ | 848 | $ | 888 | $ | 852 | $ | 672 | $ | 660 |
在美國2000年代 |
Q2-23 | 第一季度至第二十三季度 | 第四季度至第二十二季度 | 第三季度至第二十二季度 | 第二季度至第二十二季度 | 第一季度至第二十二季度 | |||||||||||
季度價值 |
$ | 228個 | $ | 212 | $ | 222 | $ | 213 | $ | 一百六十八 | $ | 165 | |||||
年化價值 |
$ | 九十二 | $ | 八百四十八 | $ | 八百八十八 | $ | 852 | $ | 六百七十二 | $ | 六百六十 |
C. Fixed costs including amortization need to not exceed CAD $1.65 million per quarter ("Benchmark C").
C。固定成本包括攤銷在內,每季度不超過165萬加元(“基準C”)。
In 000s of CAD dollars |
Q2-23 | Q1-23 | Q4-22 | Q3-22 | Q2-22 | Q1-22 | |||||||||||
Cost of revenue |
1,533 | 1,805 | 1,859 | 1,802 | 1,972 | 2,012 |
以2000加元計 |
Q2-23 | 第一季度至第二十三季度 | 第四季度至第二十二季度 | 第三季度至第二十二季度 | 第二季度至第二十二季度 | 第一季度至第二十二季度 | |||||||||||
收入成本 |
1,533 | 1,805 | 1859 | 1,802 | 1972年 | 2012 |
Operating Results Commentary
經營業績評論
- Route1's second quarter operating performance was negatively impacted by reduced levels of transactional revenue generated by device and appliance sales, and a continued reduction in MobiKEY software application revenue.
- The MobiKEY application software and Route1's next generation cloud-based secure remote access and user authentication offering, MobiKEY X, will continue to see a revenue reduction throughout the 2023 year.
- The MobiKEY technology's successful path forward is being significantly challenged by stiff competition from cloud based enterprise offering providers, specifically Microsoft 365, to secure the U.S. Department of Defense's user mobility and remote access requirements.
- Route1 is having success in growing its turnkey engineering services business model that leverages video capture technologies.
- Route1 is building a larger "book" of recurring revenue generated by technology life-cycle maintenance and support contracts / end users as shown in Benchmark B above.
- Route1's second half of 2023 will see an increase in activity and associated gross profit related to the new business model. The company expects that each of the third and fourth quarter's gross profit, as described in Benchmark A ,should be in excess of USD $1.0 million.
- Route1‘S第二季度的經營業績受到設備和家電銷售交易收入水準下降以及MobiKEY軟體應用程式收入持續下降的負面影響。
- MobiKEY應用軟體和Route1的S下一代基於雲的安全遠端訪問和用戶身分驗證產品MobiKEY X在2023年將繼續看到收入下降。
- MobiKEY技術的成功之路正面臨著來自基於雲的企業服務提供商的激烈競爭,尤其是微軟365,以確保美國國防部的用戶移動性和遠端訪問要求。
- Route1正在成功地發展其利用視頻捕獲技術的交鑰匙工程服務業務模式。
- Route1正在為技術生命週期維護和支持合同/最終用戶產生的經常性收入建立更大的“賬簿”,如上文基準B所示。
- Route1的S在2023年下半年將看到與新商業模式相關的活動和相關毛利潤的增長。該公司預計,如基準A所述,第三季度和第四季度的毛利潤應超過100萬美元。
Business Update Conference Call and Webcast
業務動態電話會議和網路廣播
Route1 will not hold a shareholder conference call and web cast to discuss second quarter 2023 results but will after the release of its third quarter 2023 results in late October 2023.
Route1不會召開股東電話會議和網路直播來討論2023年第二季度的業績,但會在2023年10月底發佈第三季度業績後舉行。
About Route1 Inc.
關於Route1 Inc.
Route1 Inc. is an advanced North American technology company that empowers their clients with data-centric solutions necessary to drive greater profitability, improve operational efficiency and gain sustainable competitive advantages, while always emphasizing a strong cybersecurity and information assurance posture. Route1 delivers exceptional client outcomes through real-time secure delivery of actionable intelligence to decision makers. Route1 is listed in Canada on the TSX Venture Exchange under the symbol ROI. For more information, visit: .
Route1 Inc.是一家先進的北美技術公司,為其客戶提供必要的以數據為中心的解決方案,以推動更大的盈利能力、提高運營效率和獲得可持續的競爭優勢,同時始終強調強大的網路安全和資訊保障姿態。Route1通過即時、安全地向決策者提供可操作的情報,為客戶提供卓越的結果。Route1在加拿大多倫多證券交易所創業板上市,股票代碼為ROI。有關更多資訊,請訪問:。
For More Information, Contact:
欲瞭解更多資訊,請聯繫:
Tony Busseri
President and Chief Executive Officer
+1 480 500-7030
tony.busseri@route1.com
Tony·布塞裡
總裁與首席執行官
+1 480 500-7030
郵箱:tony.busseri@route1.com
This news release, required by applicable Canadian laws, does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
根據加拿大適用法律的要求,本新聞稿不構成在美國出售或邀請購買任何證券的要約。這些證券沒有也不會根據修訂後的《1933年美國證券法》(以下簡稱《美國證券法》)或任何州證券法進行登記,除非根據《美國證券法》和適用的州證券法登記,或獲得此類登記豁免,否則不得在美國境內或向美國公民發行或出售證券。
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.
多倫多證券交易所創業板交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
2023 Route1 Inc. All rights reserved. No part of this document may be reproduced, transmitted or otherwise used in whole or in part or by any means without prior written consent of Route1 Inc. See for notice of Route1's intellectual property.
2023 Route1 Inc.保留所有權利。未經Route1 Inc.事先書面同意,不得全部或部分或以任何方式複製、傳播或以其他方式使用本文檔的任何部分。請參閱有關Route1的知識產權的通知。
This news release may contain statements that are not current or historical factual statements that may constitute forward-looking statements or future oriented financial information. These statements are based on certain factors and assumptions, including, expectations regarding the expected growth in the value of support contracts for the LPR business, price and liquidity of the common shares, competition for skilled personnel, expected financial performance and subscription-based revenue, business prospects, technological developments, development activities and like matters. While Route1 considers these factors and assumptions to be reasonable, based on information currently available, they may prove to be incorrect. These statements involve risks and uncertainties, including but not limited to the market demand for the Company's products and services and risk factors described in reporting documents filed by the Company. Actual results could differ materially from those projected as a result of these and other risks and should not be relied upon as a prediction of future events. The Company undertakes no obligation to update any forward-looking statement or future oriented financial information to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, except as required by law. Estimates used in this presentation are from Company sources. Past or forecasted performance is not a guarantee of future performance and readers should not rely on historical results or forward-looking statements or future oriented financial information as an assurance of future results.
本新聞稿可能包含不是當前或歷史事實陳述的陳述,這些陳述可能構成前瞻性陳述或面向未來的財務資訊。這些陳述基於某些因素和假設,包括對LPR業務支持合同價值預期增長的預期、普通股的價格和流動性、對技能人才的競爭、預期財務業績和基於訂閱的收入、業務前景、技術發展、開發活動等。雖然Route1認為這些因素和假設是合理的,但根據現有資訊,它們可能被證明是不正確的。這些陳述涉及風險和不確定因素,包括但不限於對公司產品和服務的市場需求以及公司提交的報告檔案中描述的風險因素。由於這些風險和其他風險,實際結果可能與預測的結果大不相同,不應依賴於對未來事件的預測。除法律要求外,公司沒有義務更新任何前瞻性陳述或面向未來的財務資訊,以反映此類陳述發表之日之後的事件或情況,或反映意外事件的發生。本演示文稿中使用的估計值來自公司來源。過去或預測的業績不是未來業績的保證,讀者不應依賴歷史業績或前瞻性陳述或面向未來的財務資訊作為未來業績的保證。
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SOURCE: Route1 Inc.
資料來源:Route1 Inc.