LeddarTech Holdings Inc. (LeddarTech), a leader in automotive software technology, has filed its financial results for the second quarter of fiscal year 2024, ending March 31, 2024. The company reported a net loss of $17.4 million for the quarter, compared to a net loss of $13.6 million for the same period in the previous year. The increased loss was attributed to higher operating expenses and finance costs, despite an increase in gross profit from higher product revenues. For the six months ended March 31, 2024, the net loss was $77.9 million, a significant increase from the $34.9 million loss reported for the same period in the previous year. This was largely due to listing expenses related to the business combination with Prospector Capital Corp. The company's total assets...Show More

LeddarTech Holdings Inc. (LeddarTech), a leader in automotive software technology, has filed its financial results for the second quarter of fiscal year 2024, ending March 31, 2024. The company reported a net loss of $17.4 million for the quarter, compared to a net loss of $13.6 million for the same period in the previous year. The increased loss was attributed to higher operating expenses and finance costs, despite an increase in gross profit from higher product revenues. For the six months ended March 31, 2024, the net loss was $77.9 million, a significant increase from the $34.9 million loss reported for the same period in the previous year. This was largely due to listing expenses related to the business combination with Prospector Capital Corp. The company's total assets stood at $91.5 million, with an accumulated deficit of $556.3 million. LeddarTech's common shares are listed on the Nasdaq Global Market under the symbol 'LDTC.' The company also entered into a Standby Equity Purchase Agreement with YA II PN, Ltd., which allows for the sale of up to $50 million of its common shares, subject to certain conditions and limitations.