Canada's EnWave Q1 revenue rises 36% on large-scale machine sales
Overview
Canada vacuum microwave tech firm's Q1 revenue rose 36% yr/yr
Q1 adjusted EBITDA loss narrowed
Company signed CLAs in Australia, New Zealand, and U.S.
Outlook
EnWave did not provide specific guidance for future quarters or fiscal year
Result Drivers
LARGE-SCALE MACHINE SALES - Co reported revenue increase due to commissioning and fabrication of large-scale machines
ROYALTY GROWTH - Increased royalty partners and exclusivity payments drove higher royalty revenue
INCREASED SG&A COSTS - Rise in SG&A costs due to more sales personnel and patent fees
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Miss | C$1.60 mln | C$1.70 mln (1 Analyst) |
Q1 Net Income |
| -C$1.11 mln |
|
Q1 Adjusted EBITDA | Beat | -C$585,000 | -C$800,000 (1 Analyst) |
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy."
Wall Street's median 12-month price target for Enwave Corp is C$0.80, about 135.3% above its February 19 closing price of C$0.34
Press Release: ID:nGNX86vCbr
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