Translation from a publication by Safecapital in Belgium
Yesterday after-hours, Nanalysis announced its results for the first quarter of this year. Despite still making a loss, the results improved once again. A record revenue of CAD 11.2 million was made, 139% higher than the same period last year.
Normally the fourth quarter is a lot better than the first quarter, but this quarter was very good. Security Services revenue (CATSA contract) continued to increase, and lower costs resulted in a positive EBITDA margin of 8% ( 21% negative the previous quarter).
A milestone for the company, in other words. The huge job is on its way, all 89 airports are fully up and running, and costs have fallen sharply. Nanalysis expects to get even more revenue from this and improve efficiency. As of now, they can start reaping the benefits of the tremendous efforts.
Sales from benchtop NMRs were also high, especially compared to the previous year, and Sean sees this strength continuing. Sales from Product Sales (which includes benchtop NMRs) were 39% higher than the year before, and the gross margin of 47% was a lot higher than the 32% of 2023.
Finally, EBITDA for the entire company was still negative at CAD 362,000, but this has declined sharply. In Q2 last year it was still negative by CAD 2.4 million, negative by CAD 1.3 million in Q3, and negative by CAD 774,000 in Q4. So the upward trend is clearly visible!
The share price had briefly decreased to the low point of below 0.36 CAD after the share issue announcement in February. Since then, the share price has rebounded and has been trading around 0.45 CAD for a few weeks. With excellent quarterly earnings and profitability on the horizon, we expect a higher share price.
Conclusion: Once again good quarterly rzvznuz figures from Nanalysis. The company is well on its way to becoming profitable this year. In addition, there are other opportunities to expand their sales. Therefore, the future looks bright for Nanalysis. With that comes a higher share price.
Translated with DeepL.com (free version)
