Quarterly results announced by LeddarTech for the twenty-fourth quarter of the financial year.

LeddarTech Holdings Inc., an automotive software company, has announced its Q2-2024 financial results, ending March 31, 2024. The company reported a significant increase in revenue and gross profit compared to the same quarter last year.

Financial Highlights

The Q2-2024 financial results include a revenue of $1,857,071, a marked improvement from the $475,044 recorded in Q2-2023. Gross profit for the quarter was $163,211, a stark contrast to the loss of $824,719 in Q2-2023.

LeddarTech introduced two new non-IFRS financial measures in Q2-2024: EBITDA (loss) and Adjusted EBITDA (loss). The EBITDA loss for the quarter was $(14,082,841), a decrease from $(12,061,016) in Q2-2023. The Adjusted EBITDA loss was $(8,801,060), a decrease from $(9,958,678) in Q2-2023.

Operating expenses for Q2-2024 were $12,900,000, compared to $11,700,000 in Q2-2023. Net loss for the quarter was $17,419,534, a slight increase from $13,557,666 in Q2-2023. As of March 31, 2024, LeddarTech's consolidated cash balance was $14.3 million, a decrease from $29.2 million on December 31, 2023.

It's important to note that the Q2-2024 financial results exclude deferred income taxes, depreciation of property and equipment, depreciation of right-of-use assets, amortization of intangible assets, foreign exchange loss (gain), loss (gain) on revaluation of financial instruments carried at fair value, gain on lease modification, stock-based compensation, listing expense, transaction costs, restructuring costs, and impairment loss related to intangible assets.

Collaborations and Partnerships

In the realm of collaborations, LeddarTech has been making strides in the automotive industry. The company has successfully delivered proof-of-concept (POC) results to a large mainstream Original Equipment Manufacturer (OEM). Additionally, LeddarTech has launched a new POC project with a mainstream Tier-1 supplier.

LeddarTech is also collaborating with automotive industry leaders such as Valeo and ZF Friedrichshafen in the development of LeddarVision for automated vehicle control and perception. The company's collaboration with Arm on future-ready software-defined vehicles is another significant development.

LeddarTech has also been actively responding to Request for Information (RFI) and Request for Quotation (RFQ) equivalent to approximately $650M in software sales value.

As the automotive industry continues to evolve, LeddarTech is positioning itself as a key player in the development and implementation of advanced technologies for automated vehicles. The company's financial growth and strategic partnerships are indicative of its commitment to innovation and growth in the industry.