Pioneering Technology Reports 2023 Q2 Financial Results

About this update from Pioneering Technology Corp.

[{"type":"text","content":"Pioneering Technology Reports 2023 Q2 Financial Results\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Mississauga, ON -\n \n \n TheNewswire -\n \n \n M\n \n \n ay\n \n \n 30\n \n \n , 202\n \n \n 3\n \n \n -\n \n \n Pioneering Technology Corp. (\n \n \n TSXV:PTE\n \n \n ) (“\n \n \n Pioneering\n \n \n ” or\n \n \n the\n \n \n “\n \n \n Company\n \n \n ”), a\ntechnology company and North America’s leader in cooking fire\nprevention technology and products\n \n \n reports\n \n \n its\n \n \n unaudited\n \n \n financial\n \n \n results\n \n \n for\n \n \n the\n \n \n three and\n \n \n six\nmonths\n \n \n ended\n \n \n March\n \n \n 31,\n \n \n 20\n \n \n 23\n \n \n .\n \n \n Pioneering’s unaudited condensed interim financial\nstatements and MD&A are available on SEDAR\n \n \n (\n \n \n \n www.sedar.com\n \n \n \n ).\n \n \n \n \n \n \n Financial\n \n \n Highlights:\n \n \n \n \n \n RevenueinQ2 was $713,811 versus$810,346 for the same period a year\nago.\n \n \n \n \n \n Revenue for the first six-months\n \n of fiscal 2023\nwas $1,176,644 versus $1,276,131 in the first six-months of fiscal\n2022.\n \n \n \n \n Gross margins during Q2 improved to 45% compared to 44% in Q2 last\nyear.\n \n \n \n \n Expenses\n \n during the six-month period\n \n decreased\nto\n \n $774,908 versus $960,108\n \n a year ago.\n \n \n \n \n Net income for Q2 was $5,916 versusalossof$(102,616) a year ago.\n \n \n \n \n Adjusted EBITDA in Q2 improved to $109,362 versus ($37,759) during the\nsame period last year.\n \n \n \n \n The balance\n \n s\n \n heetremainsstrongwith current\nassets of approximately $3.4 million and approximately $0.7 million of\ncurrent liabilities.\n \n \n \n \n \n \n \n Selected Financial Results for the Second Quarter & Six-Months\nEnded March 31, 2023 & 2022:\n \n \n \n \n \n \n \n \n \n Three Months\n \n \n \n \n Ended March 31, 2023\n \n \n \n \n \n \n Three Months\n \n \n \n \n Ended March 31, 2022\n \n \n \n \n \n \n \n \n Six Months\n \n \n \n \n Ended March 31, 2023\n \n \n \n \n \n \n Six Months\n \n \n \n \n Ended March 31, 2022\n \n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n \n 713,811\n \n \n \n \n \n \n 810,346\n \n \n \n \n \n \n \n \n 1,176,644\n \n \n ...

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