Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the possibility that anticipated benefits of LeddarTech’s recent business combination will not be realized; (ii) the risk that shareholder litigation in connection with the business combination or other settlements or investigations may result in significant costs of defense, indemnification and liability; (iii) changes in general economic and/or industry-specific conditions; (iv) possible disruptions from the business combination that could harm LeddarTech’s business; (v) the ability of LeddarTech to retain, attract and hire key personnel; (vi) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties, including as a result of the business combination; (vii) potential business uncertainty, including changes to existing business relationships following the business combination that could affect LeddarTech’s financial performance; (viii) legislative, regulatory and economic developments; (ix) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak or escalation of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; (x) access to capital and financing and LeddarTech’s ability to maintain compliance with debt covenants; (xi) our ability to execute on our business model, achieve design wins and generate meaningful revenue; and (xii) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S.
The following tables set forth a reconciliation of adjusted EBITDA and EBITDA to net loss reported in accordance with IFRS for the three months ended June 30, 2024 and 2023. Q3-2024Q3-2023Net loss(7,454,641)(4,156,400)Depreciation of property and equipment46,353 732,267 Depreciation of right-of-use assets222,914 229,671 Amortization of intangible assets(24,179)243,527 Interest expenses (income)1,514,240 (3,997,418)EBITDA (loss)(5,695,313)(6,948,353) Foreign exchange loss (gain)396,315 (141,391)Gain on revaluation of financial instruments carried at fair value(5,408,508)(14,554)Loss on lease modification1,819 — Stock-based compensation2,881,817 539,407 Transaction costs— 719,100 Restructuring costs— 533,169 Adjusted EBITDA (loss)(7,823,870)(5,312,622) Forward-Looking Statements Certain statements contained in this press release may be considered forward-looking statements within the meaning of the U.S.
The higher loss was due to increased operating expenses, partially offset by higher gross profit. Q3-2024Q3-2023Revenues1,423,416 1,417,584 Gross profit (loss)537,435 (66,127)Loss from operations(10,331,234)(8,480,090)Finance costs, net(2,876,593)(4,147,267)Loss before income taxes(7,454,641)(4,156,400)Net loss and comprehensive loss(7,454,641)(4,156,400)Net loss and comprehensive loss attributable to Shareholders of the Company(7,454,641)(3,875,384)Loss per share Net loss per common share (basic and diluted)(0.25)(23.12)Weighted average common shares outstanding (basic and diluted)29,453,615 167,610 EBITDA (loss)(5,695,313)(6,948,353)Adjusted EBITDA (loss)(7,823,870)(5,312,622) Balance Sheet and Liquidity1 As of June 30, 2024, LeddarTech’s consolidated cash balance totaled $5.7 million, compared to $5.1 million on September 30, 2023.
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