The following is a summary of the NanoXplore Inc. (NNXPF) Q3 2024 Earnings Call Transcript:
Financial Performance:
NanoXplore reported Q3 revenue of $33.9 million, up 7% from Q3 2023.
The company's gross margin increased from 18.3% to 20.9% year-over-year, due to improved manufacturing efficiencies and a shift towards a higher-margin product mix.
The adjusted EBITDA in the Advanced Materials, Plastics & Composite Products segment was $1.26 million, and a negative $688,000 in the battery cell segment.
As of the end of Q3, the company had cash and cash equivalents of about $29.8 million.
Business Progress:
NanoXplore continues to see strong demand for its graphene-enhanced composite products, and is investing heavily in new equipment to boost production capacity.
The company is also pursuing a strategic investor for its VoltaXplore project, which focuses on graphene-enhanced batteries. While awaiting investor involvement, they continue to validate their products and develop new production methods.
NanoXplore is developing a high-performance, graphene-enhanced silicon product to tap new market opportunities, though this requires individual customer validations.
The company anticipates a shift towards high silicon content batteries and continues to cooperate with partners to achieve this.
In terms of power requirements, Nano needs around 10 megawatt hour and Volta requires 20 megawatt hour. Applications for these have been submitted to Hydro-Quebec.
The capital expenditure for forthcoming investments is expected to be divided roughly between the U.S. and Canada, with about $1 million per quarter allocated to Canadian activities.
More details: NANOXPLORE INC IR
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