Kontrol Technologies Corp. Q2 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Financial Highlights
  • Revenue: Q2 2021 revenue was $4.2 million, up 83% year-over-year and 26% quarter-over-quarter. First half of 2021 revenue totaled $7.5 million, a 49% increase over the same period in 2020.
  • Net Income: Achieved positive net income in Q2 2021 for the first time in company history.
  • Adjusted EBITDA:
    • Q2 2021: $1.1 million, up 175% year-over-year.
    • H1 2021: $2.2 million, up 246% from the same period in 2020.
  • Balance Sheet:
    • Net working capital as of June 30, 2021: $8.9 million.
    • Completed $8.5 million private placement with institutional investors.
    • Paid off $3 million of senior secured debt ahead of maturity, saving $400,000 in future interest payments.
    • Debenture of $860,000 was extended to October 31, 2022.
    • Converted $631,000 in convertible debentures, saving 8% annual interest per annum.
Outlook
  • 2021 Full-Year Revenue Forecast: Approximately $38 million, up from $13 million in 2020.
  • 2021 Adjusted EBITDA Forecast: Approximately $3.7 million.
  • Management expects 2021 to be the best financial year in company history.
Strategic Initiatives and Developments

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Operator: Good afternoon. My name is Collin, and I'll be your conference operator today. At this time, I'd like to welcome everyone to Kontrol Technologies Q2 2021 Financial Results Report Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, we will conduct a question-and-answer session from the audience during the Q&A session. [Operator Instructions] I would now like to turn the conference over to Antonio Meschino from Senior Management, Corporate Communications. Please go ahead. Antonio Meschino: Thank you and welcome, everyone. The CEO of Kontrol Technologies, Paul Ghezzi; and its CFO, Claudio Del Vasto are hosts for today’s meeting and will provide management comments. Before we begin, please be reminded that certain statements and information included in the management discussion and analysis, and financial statements, and press releases or any other presentations, including information related to future financial or operating performance, and other statements that express the expectations of management or estimates of future performance constitute forward-looking statements. For more information on the company’s forward-looking statements, and risk factors, please reference the management discussion and analysis as well as our financial statements for Q2 2021. For all public information filings, please visit sedar.com. Thank you. I would like to turn the conference over to Paul Ghezzi, CEO of Kontrol Technol

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