LeddarTech Holdings Inc. (LeddarTech), an automotive software company specializing in AI-based sensor fusion and perception technology, reported its financial results for the third fiscal quarter of 2024, ending June 30, 2024. The company announced revenues of $1.4 million, consistent with the previous year's quarter. Gross profit for the quarter was $537,435, a significant improvement from a gross loss of $66,127 in the same period last year. The increase in gross profit was attributed to a comparison against an inventory write-down in the previous year's quarter. Operating expenses for the quarter were $10.9 million, up from $8.4 million in the prior year, mainly due to higher stock-based compensation expenses and increased selling costs. The net loss for the quarter was $7.5 million, compared to a...Show More

LeddarTech Holdings Inc. (LeddarTech), an automotive software company specializing in AI-based sensor fusion and perception technology, reported its financial results for the third fiscal quarter of 2024, ending June 30, 2024. The company announced revenues of $1.4 million, consistent with the previous year's quarter. Gross profit for the quarter was $537,435, a significant improvement from a gross loss of $66,127 in the same period last year. The increase in gross profit was attributed to a comparison against an inventory write-down in the previous year's quarter. Operating expenses for the quarter were $10.9 million, up from $8.4 million in the prior year, mainly due to higher stock-based compensation expenses and increased selling costs. The net loss for the quarter was $7.5 million, compared to a net loss of $4.2 million in the third quarter of 2023. Adjusted EBITDA loss for the quarter was $7.8 million, compared to an adjusted EBITDA loss of $5.3 million in the same quarter last year. The company's cash balance as of June 30, 2024, was $5.7 million. LeddarTech also announced an agreement in principle for a bridge debt financing of US$9.0 million to meet near-term obligations while seeking US$35.0 million or more in additional equity capital. The bridge financing is subject to the finalization of definitive agreements.