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CDTi Advanced Materials, Inc. Reports Year-end 2022 Financial Results

CDTi Advanced Materials, Inc. Reports Year-end 2022 Financial Results

cdTi 先进材料公司公布 2022 年年底财务业绩
Accesswire ·  2023/05/01 13:35

OXNARD, CA / ACCESSWIRE / May 1, 2023 / CDTi Advanced Materials, Inc. (OTC PINK:CDTI) ("CDTi" or the "Company"), a leader in advanced catalyst technology, reported its financial results for the year ended December 31, 2022.

加利福尼亚州奥克斯纳德/ACCESSWIRE/2023年5月1日先进催化剂技术的领先者CDTi先进材料公司(场外交易PINK:CDTi)(“CDTi”或“公司”)公布了截至2022年12月31日的年度财务业绩。

Matthew Beale, the Company's CEO, stated, "Our 2022 results demonstrate CDTi's potential for growth and profitability in its chosen markets. Revenue expansion was driven by the creation of new demand for existing patented technology as well as the successful introduction of new proprietary products. Our fuel borne catalyst ("FBC") product line for offroad markets gained important traction in North America during 2022 and we are well positioned for continued growth in 2023 and beyond in both on-road and off-road markets. Looking to the future, we successfully deployed our advanced catalyst coating technology in two exciting new growth markets: hydrogen production and carbon capture. We believe that the contribution of the clean energy segment to revenue will expand rapidly over the next few years.

公司首席执行官Matthew Beale表示:“我们2022年的业绩证明了CDTi在其选定市场的增长潜力和盈利能力。收入的扩大是由于对现有专利技术产生了新的需求,以及成功地推出了新的专有产品。2022年,我们用于越野市场的燃料型催化剂(“FBC”)产品线在北美获得了重要的牵引力,我们为2023年及以后在道路和越野市场的持续增长做好了准备。展望未来,我们成功地将我们先进的催化剂涂层技术应用于两个令人振奋的新增长市场:氢气生产和碳捕获。我们认为,未来几年,清洁能源部门对收入的贡献将迅速扩大。

"CDTi's positioning as a comprehensive catalyst technology company is creating new, multi-faceted customer partnerships that we believe will drive near and long-term growth. Our ability to provide innovative and enabling solutions to business partners at the forefront of the green energy transition will increasingly define CDTi's mission," concluded Beale.

作为一家综合性催化剂技术公司,CDTi的定位正在创造新的、多方面的客户合作伙伴关系,我们相信这种伙伴关系将推动短期和长期的增长。我们为处于绿色能源转型前沿的业务伙伴提供创新和有利的解决方案的能力将越来越明确CDTi的使命。

Operating Highlights

经营亮点

  • Developed and registered gasoline octane improver and on road diesel performance enhancer catalyzed fuel additive products with the U.S. Environmental Protection Agency ("EPA");
  • Increased FBC production capacity and expanded R&D testing capability at the Company's Oxnard, California headquarters;
  • Received follow-on order for new emission systems product line for the power generation market;
  • Achieved key milestones in customer sponsored pre-production catalyst engineering and coating development for hydrogen production and carbon capture projects with major oil and gas producer; and
  • Began customer sponsored coating technology development activities for a methane oxidation catalyst with a global energy company.
  • 开发和注册汽油辛烷值改进剂和道路柴油性能增强剂催化燃料添加剂产品,并与美国环境保护局(EPA)合作;
  • 提高了FBC的生产能力,并扩大了公司位于加利福尼亚州奥克斯纳德总部的研发测试能力;
  • 获得发电市场新排放系统产品线的后续订单;
  • 与主要石油和天然气生产商合作,在客户赞助的氢气生产和碳捕获项目的投产前催化剂工程和涂层开发方面取得关键里程碑;以及
  • 与一家全球能源公司合作,开始了客户赞助的甲烷氧化催化剂涂层技术开发活动。

Financial Highlights

财务亮点

  • Total revenue for the full year 2022 was $9.7 million, compared to $6.4 million for 2021 with the increase attributable primarily to the growth in sales of FBC products in North America;
  • Gross margin was 32%, compared to 31% for 2021;
  • Total operating expenses for 2022 were $3.0 million compared to $3.1 million in 2021;
  • Operating income was $0.2 million, compared to an operating loss of $1.1 million in 2021; and
  • Cash on hand at December 31, 2022 was $1.3 million, compared to $1.5 million at December 31, 2021.
  • 2022年全年总收入为970万美元,2021年为640万美元,增长主要归因于FBC产品在北美的销售增长;
  • 毛利率为32%,而2021年为31%;
  • 2022年的总运营费用为300万美元,而2021年为310万美元;
  • 营业收入为20万美元,而2021年的营业亏损为110万美元;
  • 截至2022年12月31日,手头现金为130万美元,而2021年12月31日为150万美元。

The Company's audited financial statements as of December 31, 2022 and for the fiscal year then ended are available on the Company's website at .

公司截至2022年12月31日的经审计的财务报表以及截至该财年的财务报表可在公司网站上查阅。

About CDTi Advanced Materials

关于CDTi先进材料

CDTi Advanced Materials (OTC:CDTI) develops technology and materials for the emissions catalyst, industrial catalyst and electrocatalyst markets. CDTi believes that it possesses market leading expertise in catalyst design, engineering and manufacturing for combustion and energy storage applications. CDTi develops technology and materials incorporating various base metals that can enhance catalytic performance and reduce the use of costly platinum group metals ("PGMs") in catalyst coatings.

CDTi先进材料公司(场外交易代码:CDTi)为排放催化剂、工业催化剂和电催化剂市场开发技术和材料。CDTi相信,它在燃烧和储能应用的催化剂设计、工程和制造方面拥有市场领先的专业知识。CDTi开发包含各种贱金属的技术和材料,可提高催化性能并减少催化剂涂层中昂贵的铂族金属(“PGM”)的使用。

For more information, please visit .

欲了解更多信息,请访问。

Forward-Looking Statements

前瞻性陈述

Certain information contained in this press release constitutes forward-looking statements, including any statements that are not statements of historical fact. You can identify these forward-looking statements by the use of the words "believes", "expects", "anticipates", "plans", "may", "will", "would", "intends", "estimates", and other similar expressions, whether in the negative or affirmative. Forward-looking statements are based on a series of expectations, assumptions, estimates and projections, which involve substantial uncertainty and risk. In this document, the Company includes forward-looking statements regarding the capabilities of and new markets for its products and technologies and the status of new technologies, which are subject to risks and uncertainties that could cause our actual results and financial position to differ materially, including, among other risks and uncertainties, (i) that the Company may not be able to successfully implement, or implement at all, its strategic priorities; streamline its operations or align its organization and infrastructure with the anticipated business; meet expectations or projections; decrease costs; increase sales; obtain adequate funding; retain or secure customers; increase its customer base; protect its intellectual property; successfully evolve into an advanced materials supplier or, even if successful, increase profitability; successfully market new products; obtain product verifications or approvals; attract or retain key personnel; validate, optimize and scale powder-to-coat capability; or realize benefits from investments; (ii) funding for and enforcement and tightening of emissions controls, standards and regulations; (iii) prices of PGM and rare earth metals; (iv) royalty and other restrictions on sales in certain Asian countries; (v) supply disruptions or failures; (vi) regulatory, marketing and competitive factors; and (vii) environmental harm or damages. Any forward-looking statements represent the Company's estimates only as of the date of such statements and should not be relied upon as representing the Company's estimates as of any subsequent date. The Company specifically disclaims any obligation to update forward-looking statements. All forward-looking statements in this press release are qualified in their entirety by this cautionary statement.

本新闻稿中包含的某些信息属于前瞻性陈述,包括任何非历史事实的陈述。你可以通过使用“相信”、“预期”、“预期”、“计划”、“可能”、“将”、“将”、“打算”、“估计”以及其他类似的表达方式来识别这些前瞻性陈述,无论是否定的还是肯定的。前瞻性陈述基于一系列预期、假设、估计和预测,这些预期、假设、估计和预测涉及重大不确定性和风险。在本文件中,公司包括有关其产品和技术的能力和新市场以及新技术状况的前瞻性陈述,这些风险和不确定因素可能会导致我们的实际结果和财务状况大不相同,这些风险和不确定因素包括:(I)公司可能无法成功实施或根本无法实施其战略重点;(I)公司可能无法精简运营或使其组织和基础设施与预期业务保持一致;达到预期或预测;降低成本;增加销售;获得充足的资金;留住或确保客户;增加客户基础;保护知识产权;成功地成为先进材料供应商或即使成功也能提高盈利能力;成功地营销新产品;获得产品验证或批准;吸引或留住关键人员;验证、优化和扩大粉末到涂料的能力;或从投资中实现效益;(Ii)为排放控制、标准和法规的资助、执行和收紧;(Iii)PGM和稀土金属的价格;(Iv)特许权使用费和某些亚洲国家对销售的其他限制;(V)供应中断或故障;(Vi)监管、营销和竞争因素;(Vii)环境损害或损害。任何前瞻性陈述仅代表公司截至该陈述发表之日的估计,不应被视为代表公司在任何后续日期的估计。该公司明确表示不承担任何更新前瞻性陈述的义务。本新闻稿中的所有前瞻性陈述均受本警告性声明的限制。

Investor Relations Contact Information
+1 805 486 4649
investors@cdti.com

投资者关系联系方式
+1 805 486 4649
邮箱:Investors@cdti.com

CDTi ADVANCED MATERIALS, INC.

CDTi先进材料有限公司。

Consolidated Statements of Comprehensive Income (Loss)
(in thousands)

综合全面收益表(损益表)
(单位:千)

Years Ended December 31,
2022 2021
Revenues
$ 9,744 $ 6,371
Cost of revenues
6,600 4,394
Gross profit
3,144 1,977
Operating expenses:
Research and development
776 791
Selling, general and administrative
2,175 2,264
Total operating expenses
2,951 3,055
Operating income/(loss)
193 (1,078)
Other income/(loss), net
(60) 771
Income/(loss) before income tax
133 (307)
Provision for income taxes
(18) (82)
Net income/(loss)
115 (389)
Foreign currency translation adjustments
(81) (60)
Comprehensive income/(loss)
$ 34 $ (449)
截至十二月三十一日止的年度,
2022年 2021年
收入
$ 9744 $ 6,371
收入成本
6600 4394
毛利
3,144 1977年
运营费用:
研发
七百七十六 七百九十一
销售、一般和行政
2175 2264
总运营费用
2951 3,055
营业收入/(亏损)
一百九十三 (1,078)
其他收入/(亏损),净额
(60) 七百七十一
所得税前收益/(亏损)
一百三十三 (307)
所得税拨备
(18) (82)
净收益/(亏损)
一百一十五 (389)
外币折算调整
(81) (60)
综合收益/(亏损)
$ 34 $ (449)

CDTi ADVANCED MATERIALS, INC.

CDTi先进材料有限公司。

Consolidated Balance Sheets
(in thousands, except share and per share amounts)

合并资产负债表
(单位为千,不包括每股和每股金额)

December 31,
2022 2021
ASSETS

Current assets:

Cash
$ 1,304 $ 1,460$
Accounts receivable, net of allowance for doubtful accounts of $70
1,344 1,221
Inventories
1,040 909
Prepaid expenses and other current assets
63 346
Total current assets
3,751 3,936
Property and equipment, net
204 206
Intangible assets, net
261 404
Right-of-use assets, operating lease
757 -
Other assets
104 120
Total assets
$ 5,077 $ 4,666$
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$ 474 $ 682
Accrued expenses and other current liabilities
850 1,083
Operating lease liability, current
168 -
Liability for income taxes
898 861
Total current liabilities
2,390 2,626
Operating lease liability, net of current portion
595 -
Total liabilities
2,985 2,626
Commitments and contingencies (Note 12)
Stockholders' equity:
Preferred stock, par value $0.01 per share: authorized 100,000; no shares issued and outstanding
- -
Common stock, par value $0.01 per share: 50,000,000 shares authorized, 4,501,301 issued and outstanding at December 31, 2022 and 2021
45 45
Additional paid-in capital
241,852 241,834
Accumulated other comprehensive loss
(6,158) (6,077)
Accumulated deficit
(233,647) (233,762
Total stockholders' equity
2,092 2,040
Total liabilities and stockholders' equity
$ 5,077 $ 4,666$
十二月三十一日,
2022年 2021年
资产

流动资产:

现金
$ 1,304 $ 1,460美元
应收账款,扣除坏账准备净额70美元
1,344 1221
盘存
1,040 909
预付费用和其他流动资产
63 三百四十六
流动资产总额
3751 3936
财产和设备,净额
204 206
无形资产,净额
二百六十一 404
使用权资产、经营租赁
七百五十七 -
其他资产
104 120
总资产
$ 5,077 $ 4,666美元
负债和股东权益
流动负债:
应付帐款
$ 四百七十四 $ 六百八十二
应计费用和其他流动负债
八百五十 1,083
经营租赁负债,流动
一百六十八 -
所得税纳税义务
八九八 861
流动负债总额
2390 2626
经营租赁负债,扣除当期部分
五百九十五 -
总负债
2985 2626
承付款和或有事项(附注12)
股东权益:
优先股,每股面值$0.01:授权100,000股;无已发行和流通股
- -
普通股,每股面值0.01美元:于2022年12月31日和2021年12月31日授权发行50,000,000股,发行和发行4,501,301股
45 45
额外实收资本
241,852 241,834
累计其他综合损失
(6158) (6,077)
累计赤字
(233,647) (233,762)
股东权益总额
2092 2,040
总负债和股东权益
$ 5,077 $ 4,666美元

SOURCE: CDTi Advanced Materials, Inc.

资料来源:CDTi先进材料公司


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