Eddy Smart Home Stock Price, News & Analysis

Eddy Smart Home Solutions (TSXV: EDY) has reported its Q4 and full-year 2024 financial results, showing significant operational improvements. The company increased its in-building devices by 46% to 109,816 units and grew its contracted sales backlog to $38.7 million.

Financial highlights include a reduced Q4 net loss of $927,413 (compared to $4.4M in Q4 2023), and full-year revenue growth of 11% to $3.78M. Recurring billings showed strong growth, increasing by 34% to $787,122 in Q4. The company successfully repaid its working capital facility of $5.59M and converted its Credit Facility into common shares, strengthening its balance sheet.

Cost management efforts resulted in a 40% reduction in annual G&A expenses to $4.35M. The company secured a new $1M revolving credit facility in January 2025 for inventory purchases.

Eddy Smart Home Solutions (TSXV: EDY) has announced a new equity incentive program. The company has granted 36,300 stock options, 116,400 restricted share units (RSUs), and 306,431 performance share units (PSUs) to directors and officers. Additionally, 185,101 stock options were granted to employees.

The stock options are exercisable at $2.50 per common share. All equity incentives will vest over three years in equal installments: one-third annually. PSUs have additional performance criteria for vesting. Both RSUs and PSUs will convert to new common shares upon meeting vesting conditions.

Eddy Solutions (TSXV: EDY) has appointed James Florentino as Director of Sales, U.S., strengthening its executive team to meet growing demand for advanced leak protection technology. Florentino, previously at WINT, brings a decade of real estate experience and five years of specialized expertise in leak detection and mitigation.

In his new role, Florentino will focus on expanding Eddy's U.S. presence by developing relationships with builders, property owners, and general contractors. He will lead growth initiatives in key markets, establish strategic partnerships, and promote the company's leak protection solutions.

The appointment aligns with Eddy Solutions' mission to deliver comprehensive leak detection and mitigation services across North America, helping stakeholders protect their assets from water damage.

Eddy Solutions (TSXV: EDY) has announced the appointment of Shkya Ghanbarian as Chief Strategy Officer, strengthening its executive team amid growing demand for leak protection technology. In her new role, Ghanbarian will lead strategic initiatives to expand the company's presence in Canada and accelerate growth in the U.S. market.

The appointment focuses on enhancing partnerships with insurers, property owners, and developers to reduce water-related risks and improve asset performance. Ghanbarian will also work on improving Eddy's IoT solutions for monitoring, preventing, and responding to water damage incidents, including protection measures for new construction projects.

According to President Cory Silver, Ghanbarian's expertise in leak mitigation and insurance markets positions her as a leading authority in North America, supporting Eddy's reputation in leak detection for commercial and multi-family buildings.

Eddy Smart Home Solutions (TSXV: EDY) has secured a $1 million revolving credit facility through a loan agreement with a non-arm's length private lender. The facility carries a 12% annual interest rate and has a two-year maturity term. The company plans to utilize the proceeds primarily for inventory purchases to fulfill its contracted revenue backlog. The facility includes an option for a $500,000 expansion, potentially reaching $1.5 million total, based on receivables growth and increased inventory requirements.

Eddy Smart Home Solutions (TSXV: EDY) reported its Q3 2024 financial results, showing significant operational improvements. In-building devices increased 56% year-over-year to 105,430, while contracted revenue grew to $41.7 million, up 10% from December 2023. The company fully repaid its working capital facility of $5.59 million and converted its Credit Facility into common shares. G&A expenses decreased 44% to $1 million in Q3. Net loss improved to ($932,003) from ($1.98 million) in Q3 2023. Revenue for Q3 2024 was $720,694, with recurring billings up 26% to $695,854. Basic loss per share improved to ($0.15) from ($2.49).

Eddy Smart Home Solutions (TSXV: EDY) has appointed Adam Bartman as its new Chief Operating Officer (COO). Bartman, previously EVP of Operations, brings over a decade of experience in the plumbing and mechanical industry to his new role. He will oversee day-to-day operations, focusing on enhancing efficiency and driving strategic initiatives.

The company also announced shareholder approval of a new omnibus equity incentive plan at its annual general meeting on June 17, 2024. The plan replaces the previous stock option plan and allows for equity incentive grants up to 10% of the company's issued and outstanding shares, totaling 79,528 common shares post-consolidation.

Eddy Solutions also clarified that its July 10, 2024 news release incorrectly referenced a shareholder rights offering instead of the existing security holder exemption used for a private placement.