Kelso Technologies Inc. FY23 EPS $(0.04) Vs $(0.02) YoY; Revenue $10.82M Vs $10.93M YoY
Kelso Technologies Inc. FY23 EPS $(0.04) Vs $(0.02) YoY; Revenue $10.82M Vs $10.93M YoY
Kelso Technologies Inc. ("Kelso" or the "Company"), (TSX:KLS) reports that the Company has released the audited consolidated financial statements and Management Discussion and Analysis for the year ended December 31, 2023.
凯尔索科技公司（“凯尔索” 或 “公司”）（多伦多证券交易所股票代码：KLS）报告称，该公司已经发布了截至2023年12月31日止年度的经审计的合并财务报表和管理层讨论与分析。
The audited year end financial statements were prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). All amounts herein are expressed in United States dollars (the Company's functional currency) unless otherwise indicated. The Company's audited consolidated financial statements and MD&A for the year ended December 31, 2023 were approved by the Board of Directors on March 20, 2024.
经审计的年终财务报表是根据国际会计准则理事会（“IASB”）发布的《国际财务报告准则》（“IFRS”）编制的。除非另有说明，否则此处的所有金额均以美元（公司的本位货币）表示。公司截至2023年12月31日止年度的经审计的合并财务报表和管理层与分析已于2024年3月20日获得董事会批准。
SUMMARY OF FINANCIAL PERFORMANCE
财务业绩摘要
| Year ended December 31 | 2023 | 2022 | 2021 | ||||||
| Revenues | $ | 10,819,916 | $ | 10,931,188 | $ | 7,425,707 | |||
| Gross profit | $ | 4,582,447 | $ | 4,908,996 | $ | 3,196,492 | |||
| Gross profit margin | 42% | 45% | 43% | ||||||
| Operating expenses | $ | 5,878,723 | $ | 6,126,992 | $ | 6,254,981 | |||
| Taxes | $ | 170,475 | $ | 166,031 | $ | 172,639 | |||
| Net income (loss) | $ | (2,101,886) | $ | (1,355,417) | $ | (2,758,567) | |||
| Basic and diluted earnings (loss) per share | $ | (0.04) | $ | (0.02) | $ | (0.05) | |||
| Non-cash recoveries and expenses | $ | 1,085,924 | $ | 1,271,842 | $ | 549,612 | |||
| Adjusted EBITDA (Loss) (1) | $ | (845,487) | $ | (83,575) | $ | (1,436,435) | |||
| Liquidity and Capital Resources | |||||||||
| Working capital | $ | 5,026,580 | $ | 7,000,568 | $ | 8,670,165 | |||
| Cash | $ | 1,433,838 | $ | 2,712,446 | $ | 3,377,464 | |||
| Accounts receivable | $ | 1,065,411 | $ | 1,381,979 | $ | 807,009 | |||
| Net equity | $ | 8,720,248 | $ | 10,781,672 | $ | 12,055,113 | |||
| Total assets | $ | 9,703,271 | $ | 12,147,143 | $ | 13,728,510 | |||
| Common shares outstanding | 54,443,422 | 54,320,086 | 54,320,086 | ||||||
| (1) Adjusted EBITDA for the year ended December 31, 2023, 2022 and 2021 has been calculated as follows: | |||||||||
| 截至12月31日的年度 | 2023 | 2022 | 2021 | ||||||
| 收入 | $ | 10,819,916 | $ | 10,931,188 | $ | 7,425,707 | |||
| 毛利 | $ | 4,582,447 | $ | 4,908,996 | $ | 3,196,492 | |||
| 毛利率 | 42% | 45% | 43% | ||||||
| 运营费用 | $ | 5,878,723 | $ | 6,126,992 | $ | 6,254,981 | |||
| 税收 | $ | 170,475 | $ | 166,031 | $ | 172,639 | |||
| 净收益（亏损） | $ | (2,101,886) | $ | (1,355,417) | $ | (2,758,567) | |||
| 每股基本收益和摊薄收益（亏损） | $ | (0.04) | $ | (0.02) | $ | (0.05) | |||
| 非现金回收和支出 | $ | 1,085,924 | $ | 1,271,842 | $ | 549,612 | |||
| 调整后的息税折旧摊销前利润（亏损）(1) | $ | (845,487) | $ | (83,575) | $ | (1,436,435) | |||
| 流动性和资本资源 | |||||||||
| 营运资金 | $ | 5,026,580 | $ | 7,000,568 | $ | 8,670,165 | |||
| 现金 | $ | 1,433,838 | $ | 2,712,446 | $ | 3,377,464 | |||
| 应收账款 | $ | 1,065,411 | $ | 1,381,979 | $ | 807,009 | |||
| 净资产 | $ | 8,720,248 | $ | 10,781,672 | $ | 12,055,113 | |||
| 总资产 | $ | 9,703,271 | $ | 12,147,143 | $ | 13,728,510 | |||
| 已发行普通股 | 54,443,422 | 54,320,086 | 54,320,086 | ||||||
| (1) 截至2023年12月31日、2022年和2021年12月31日止年度的调整后息税折旧摊销前利润计算如下： | |||||||||
| Year ended December 31 | ||||||||
|
2023 |
2022 |
2021 |
||||||
| Net income (loss) | $ | (2,101,886) | $ | (1,355,417) | $ | (2,758,567) | ||
| Unrealized foreign exchange loss (gain) | $ | 1,154 | $ | (31,648) | $ | (26,409) | ||
| Amortization | $ | 785,505 | $ | 1,044,222 | $ | 1,573,091 | ||
| Income taxes | $ | 170,475 | $ | 166,031 | $ | 172,639 | ||
| Gain on revaluation of derivative warrant liability | $ | (3,665) | $ | (263,446) | $ | (658,626) | ||
| Gain on repurchase of RSU's | $ | (40,785) | $ | (45,806) | $ | - | ||
| Write down of inventory | $ | 214,225 | $ | 260,040 | $ | 117,403 | ||
| Gain (loss) on sale of property, plant and equipment | $ | - | $ | (20,602)- | $ | 8,389 | ||
| Share based expense | $ | 129,490 | $ | 163,051 | $ | 133,645 | ||
| Bad debt recovery | $ | - | $ | - | $ | 2,000 | ||
| Adjusted EBITDA (Loss) | $ | (845,487) | $ | (83,575) | $ | (1,436,435) | ||
| 截至12月31日的年度 | ||||||||
| 2023 |
2022 |
2021 |
||||||
| 净收益（亏损） | $ | (2,101,886) | $ | (1,355,417) | $ | (2,758,567) | ||
| 未实现的外汇亏损（收益） | $ | 1,154 | $ | (31,648) | $ | (26,409) | ||
| 摊销 | $ | 785,505 | $ | 1,044,222 | $ | 1,573,091 | ||
| 所得税 | $ | 170,475 | $ | 166,031 | $ | 172,639 | ||
| 衍生权证负债重估的收益 | $ | (3,665) | $ | (263,446) | $ | (658,626) | ||
| 回购RSU的收益 | $ | (40,785) | $ | (45,806) | $ | - | ||
| 记下库存 | $ | 214,225 | $ | 260,040 | $ | 117,403 | ||
| 出售财产、厂房和设备的收益（亏损） | $ | - | $ | (20,602)- | $ | 8,389 | ||
| 基于股份的费用 | $ | 129,490 | $ | 163,051 | $ | 133,645 | ||
| 坏账追回 | $ | - | $ | - | $ | 2,0 | ||
| 调整后的息税折旧摊销前利润（亏损） | $ | (845,487) | $ | (83,575) | $ | (1,436,435) | ||
Adjusted EBITDA (loss) represents net earnings or loss for the year ended December 31, 2023 before interest, taxes and tax recoveries, amortization, deferred income tax recovery, unrealized foreign exchange losses, non-cash share-based expenses (Black-Scholes option pricing model) and write-off of assets. Adjusted EBITDA (loss) removes the effects of items that do not reflect the Company's underlying operating performance and are not necessarily indicative of future operating results. Adjusted EBITDA (loss) is not an earnings measure recognized by IFRS and does not have a standardized meaning prescribed by IFRS. Management believes that Adjusted EBITDA (loss) is an alternative measure in evaluating the Company's operational performance and its ability to generate cash to finance business operations.
调整后的息税折旧摊销前利润（亏损）是指截至2023年12月31日止年度的净收益或亏损，扣除利息、税款和税收回款、摊销、递延所得税回收、未实现外汇亏损、基于非现金股份的支出（Black-Scholes期权定价模型）和资产注销。调整后的息税折旧摊销前利润（亏损）消除了不反映公司基本经营业绩且不一定代表未来经营业绩的项目的影响。调整后的息税折旧摊销前利润（亏损）不是国际财务报告准则确认的收益指标，也没有国际财务报告准则规定的标准化含义。管理层认为，调整后的息税折旧摊销前利润（亏损）是评估公司运营业绩及其产生现金为业务运营融资能力的另一种衡量标准。
Readers are cautioned that Adjusted EBITDA should not be construed as an alternative to net income as determined under IFRS; nor as an indicator of financial performance as determined by IFRS; nor a calculation of cash flow from operating activities as determined under IFRS; nor as a measure of liquidity and cash flow under IFRS. The Company's method of calculating Adjusted EBITDA may differ from methods used by other issuers and, accordingly, the Company's Adjusted EBITDA may not be comparable to similar measures used by any other issuer.
提醒读者，不应将调整后的息税折旧摊销前利润解释为国际财务报告准则确定的净收益的替代方案；也不应解释为国际财务报告准则确定的财务业绩指标；也不应将调整后的息税折旧摊销前利润解释为国际财务报告准则规定的对经营活动现金流的计算；也不得解释为国际财务报告准则下流动性和现金流的衡量标准。公司计算调整后息税折旧摊销前利润的方法可能与其他发行人使用的方法不同，因此，公司的调整后息税折旧摊销前利润可能无法与任何其他发行人使用的类似指标相提并论。
LIQUIDITY AND CAPITAL RESOURCES
流动性和资本资源
As at December 31, 2023 the Company had cash on deposit in the amount of $1,433,838, accounts receivable of $1,065,411 prepaid expenses of $134,349 and inventory of $3,376,005 compared to cash on deposit in the amount of $2,712,446, accounts receivable of $1,381,979, prepaid expenses of $92,768 and inventory of $4,144,196 as at December 31, 2022.
截至2023年12月31日，该公司的存款现金为1,433,838美元，应收账款为1,065,411美元，预付费用为134,349美元，库存为3,376,005美元，而存款现金为2712,446美元，应收账款为1,381,979美元，预付费用为92,768美元，库存为4,144,196美元。
The Company had income tax payable of $10,024 at December 31, 2023 compared to $30,626 at December 31, 2022.
截至2023年12月31日，该公司的应缴所得税为10,024美元，而截至2022年12月31日的应缴所得税为30,626美元。
The working capital position of the Company as at December 31, 2023 was $5,026,580 compared to $7,000,568 as at December 31, 2022. Capital resources and operations are to be expected to continue the Company's ability to conduct ongoing business as planned for the foreseeable future.
截至2023年12月31日，该公司的营运资金状况为5,026,580美元，而截至2022年12月31日为7,000,568美元。预计资本资源和运营将延续公司在可预见的将来按计划开展持续业务的能力。
Total assets of the Company were $9,703,271 as at December 31, 2023 compared to $12,147,143 as at December 31, 2022. Net assets of the Company were $8,720,248 as at December 31, 2023 compared to $10,781,672 as at December 31, 2022. The Company had no interest-bearing long-term liabilities or debt as at December 31, 2023 or December 31, 2022.
截至2023年12月31日，该公司的总资产为9,703,271美元，而截至2022年12月31日为12,147,143美元。截至2023年12月31日，该公司的净资产为8,720,248美元，而截至2022年12月31日为10,781,672美元。截至2023年12月31日或2022年12月31日，该公司没有计息的长期负债或债务。