GREAT NEWS TODAY RE REVENUE!!
(CSE: KNR, OTCQB: KNRLF, FSE:1K8) ("Kontrol" or 'Company') a leader in the energy efficiency sector through IoT, Cloud and SaaS technology announces its fiscal 2018 financial results for the year ended December 31, 2018.
A complete set of Financial Statements and Management's Discussion & Analysis will be filed on SEDAR (www.sedar.com) on April 30th at 4:30pm (EST). A conference call to discuss the 2018 financial results has been scheduled for April 30th at 4:30pm (EST).
2018 Highlights
Revenue for the year ending December 31, 2018 was $10.7 million, up 56% over the prior year
Revenue for fourth quarter was $4.1 million, up 100% over the comparable quarter of the prior year
Kontrol Energy and Toyota Tsusho Canada Inc. announce a Smart Factory Strategic Partnership for North American Markets
Acquisition of CEM Specialties Inc.
Asset acquisition of MCW Dimax Ltd.
Kontrol Energy expansion of IoT Technology solutions to Global Asset and Facilities Management
Letter of Intent executed for a $6.5M revenue and $700K in EBITDA electrical efficiency company
Private placement funding and exchange of debentures; holders of up to $5,245,000 can exchange their 2019 debentures for 2020 debentures bearing interest at 8% per annum
U.S. Listing granted on OTCQB Market under symbol KNRLF
Kontrol Energy enters global market with the launch of SmartMax® Energy Gateway
Launch of SmartSuite® energy management technology for global commercial, multi-residential, and hospitality real estate market
Management Commentary
'2018 was an important year of growth for Kontrol. In addition to delivering strong year over year revenue growth, we achieved record revenues in our Q4 2018 of $4.1 million and positive adjusted EBITDA," said Paul Ghezzi, CEO of Kontrol Energy. "We exit 2018 with a revenue run rate of $16 million annualized. With our continued organic growth and next acquisition target announced we look forward to a robust fiscal 2019."
Revenue
Revenue for the year ended December 31, 2018 was $10,727,301, an increase of $3.8 million or 56% over the comparative year. Revenue for the fourth quarter was $4,095,070, up 100% over the comparable quarter of the prior year. The growth in revenue is from a combination of accretive acquisitions and organic growth.
Gross profit
Gross profit for the year ended December 31, 2018 was $6,419,819 an increase of $1.8 million over the comparative year. Gross profit for the quarter was $1,960,103 compared to $1,355,107 for the fourth quarter of the prior year.``
