Business
California Nanotechnologies Announces FY2025 Results
Record annual revenue of US$6,224K representing an 87% YOY increase Adjusted EBITDA 1 of US$2,5...
About this update from California Nanotechnologies Corp.
[{"type":"text","content":"California Nanotechnologies Announces FY2025 ResultsRecord annual revenue of US$6,224K representing an 87% YOY increaseAdjusted EBITDA1 of US$2,559K and Cash Flow from Operations of US$2,917KExecuting strategy to increase repeatable and higher-scale revenues with commercial ordersLos Angeles, California--(Newsfile Corp. - June 26, 2025) - California Nanotechnologies Corp. (TSXV: CNO) (OTC Pink: CANOF) (\"Cal Nano\" or the \"Company\") is pleased to announce revenues of US$6,224,738 for the fiscal year ending February 28, 2025. This represents an increase of 87% compared to the prior year. Adjusted EBITDA1 showed significant improvement at US$2,558,515 for the fiscal year ending February 28, 2025, compared with US$1,157,141 in the prior year.Net loss for the fiscal year was US$158,333, compared to net income of US$381,678 in the prior fiscal year. The lower net income was mainly due to non-cash charges in the amount US$1,252,922 in FY2025 compared to US$164,283 in FY2024, which were related to losses on share purchase warrants2. These warrants have led to non-cash charges arising from IFRS accounting rules and the Company's reporting in U.S. dollars, while its outstanding warrants are denominated in Canadian dollars. Once these warrants are exercised or expire, these non-cash gains or losses are expected to cease appearing on the Company's financial results.Diluted earnings per share for the quarter was $0.00 compared to diluted earnings per share of $0.01 for the same period last year. The financial statements are available on SEDAR+ at www.sedarplus.ca and on the Company's website.\"This fiscal year saw significant investments in our overall business and strong execution to ramp up our manufacturing services accordingly,\" stated CEO Eric Eyerman. \"Cal Nano is entering a new phase of maturity where we aim to create more predictability and scale with recurring commercial orders. This is expected to help fill the capacity at our new Santa Ana facility and diversify our revenues across industries and customers. We are off to a good start with the first recurring commercial orders announced in April 2025, and we believe this strategy will contribute to more sustainable growth long-term.\"The improvement in revenue for the fiscal year was mainly due to higher revenue generation from manufacturing services $5,316,068 and Spark ...