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Tantalus Systems Holding Inc. Reports First Quarter 2025 Financial Results
Burnaby, British Columbia--(Newsfile Corp. - May 7, 2025) - Tantalus Systems (TSX: GRID) (OTCQX: ...
About this update from Tantalus Systems Holding Inc
[{"type":"text","content":"Tantalus Systems Holding Inc. Reports First Quarter 2025 Financial ResultsBurnaby, British Columbia--(Newsfile Corp. - May 7, 2025) - Tantalus Systems (TSX: GRID) (OTCQX: TGMPF) (\"Tantalus\" or the \"Company\"), a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data, is pleased to announce its financial and operating results for the three-month period ended March 31, 2025.All amounts presented in this news release are in United States dollars (\"U.S. dollars\") and all amounts presented in the attached financial tables are in thousands of U.S. dollars, unless otherwise noted.Q1 2025 FINANCIAL HIGHLIGHTSRevenue: The Company increased revenue by 27% year-over-year to $11.9 million. Revenue from Connected Devices and Infrastructure (\"Connected Devices\") increased by $2.0 million or 34% and Utility Software Applications & Services (\"Software\") revenue increased by $0.5 million or 14%. The increases in revenue are a result of adding new utility customers and continuing to expand deployments with existing accounts. Recurring Revenue represented 26% of total revenue in the quarter. Gross Profit Margin1: The Company generated 55% Gross Profit Margin, an increase of 130 basis points over the prior year as a result of the product mix within the Connected Devices segment and higher revenue contributions from the Software segment. Net Loss: The Company generated a net loss for the period of $651,000 reflecting an improvement on a comparative basis from the prior year period loss of $1.6 million. Loss per Share: Diluted loss per share was $0.01 compared to a diluted loss per share of $0.03 from the prior year period. Adjusted EBITDA1: The Company delivered positive Adjusted EBITDA of $317,000, reflecting a strong improvement when compared to negative $536,000 in the prior year period.Cash Flow from Operations: The Company generated positive Cash Flow from Operating Activities of $3.2 million compared to negative $239,000 in the prior year period. Liquidity: At March 31, 2025, Tantalus had available liquidity of approximately $20.7 million as compared to $9.4 million as at March 31, 2024. The available liquidity was comprised of a cash balance of $15.9 million and borrowing availability of $4.8 million under its line of credit.\"Our team at Tantalus got off to a solid st...