Q: Good morning, may I have your view of the latest results? Cheers
5i Research Answer:
Revenues of $9.15M beat estimates of $8.65M. Its sales grew 78% year-over-year, and its adjusted EBITDA margin increased to 39% in the quarter. Strong contribution margins from Canada helped to offset scaling costs in the US, and it gained operational efficiency from its AI at-the-edge cameras. The US accounted for more than 20% of its revenue, and the company is starting to build a backlog of demand at its US, Houston, service center. Its free cash flow in the quarter was strong, and overall the company is continuing to grow, expand its presence in the US, and obtain enterprise-level customers. We would consider these strong results.