LeddarTech Holdings Inc. (LeddarTech), a leader in automotive software technology, announced its financial results for the fiscal second quarter of 2024, which ended on March 31, 2024. The company reported revenues of $1.9 million, a significant increase from the $0.5 million reported in the same period of the previous year. The increase in revenue was primarily due to higher legacy LiDAR revenue resulting from the fulfillment of last-time buy orders. Despite the revenue growth, LeddarTech incurred a net loss of $17.4 million for the quarter, compared to a net loss of $13.6 million in the prior year's quarter. The net loss for the six months ended March 31, 2024, was $77.9 million, compared to a net loss of $34.9 million for the same period in 2023. The company's financial...Show More

LeddarTech Holdings Inc. (LeddarTech), a leader in automotive software technology, announced its financial results for the fiscal second quarter of 2024, which ended on March 31, 2024. The company reported revenues of $1.9 million, a significant increase from the $0.5 million reported in the same period of the previous year. The increase in revenue was primarily due to higher legacy LiDAR revenue resulting from the fulfillment of last-time buy orders. Despite the revenue growth, LeddarTech incurred a net loss of $17.4 million for the quarter, compared to a net loss of $13.6 million in the prior year's quarter. The net loss for the six months ended March 31, 2024, was $77.9 million, compared to a net loss of $34.9 million for the same period in 2023. The company's financial position includes total liabilities of $98.8 million and an accumulated deficit of $556.3 million as of March 31, 2024. LeddarTech's cash balance stood at $14.3 million, with an outstanding credit facility of $30 million. The company's ability to continue operations is dependent on its ability to raise capital and the continuous support of its creditors. On April 8, 2024, LeddarTech entered into a Standby Equity Purchase Agreement with YA II PN, Ltd., which allows the company to issue and sell up to $50 million of its common shares, subject to certain conditions and limitations.