Welcome to our dedicated page for Ifabric news (Ticker: IFABF), a resource for investors and traders seeking the latest updates and insights on Ifabric stock.
iFabric Corp. (OTCQX: IFABF, TSX: IFA) is active in performance apparel, advanced textiles, and fabric treatments, and its news flow reflects this focus. Through subsidiaries Intelligent Fabric Technologies (North America) Inc. (IFTNA) and Coconut Grove Pads Inc., the company announces developments in antimicrobial technologies, durable water repellents, intimate apparel, and performance-driven finished products.
News updates for iFabric often highlight technology deployments and brand partnerships. Recent releases describe license agreements and product launches involving Doctor’s Choice scrubs and medical apparel, Roots branded footwear at a Canadian wholesale club retailer, Verzus All Apparel programs, TUMI travel products featuring PROTX2, Marks & Spencer’s Autograph collections in the UK and EU, and functional bedding in collaboration with The Lad Collective.
Investors and observers can use the IFABF news stream to follow clinical validation milestones, such as the publication of a clinical trial in the Journal of Hospital Infection demonstrating statistically significant reductions in bacterial loads on PROTX2 and ecoPEL treated scrubs. Other updates cover financing and capital resources, including trade finance facilities intended to support growth and manage foreign exchange risk, as described by the company.
Coverage also includes new product category expansions for IFTNA’s technology platforms, such as moves into footwear and bedding, as well as the rollout of performance apparel brands through major retailers. For a concise view of how iFabric’s textile technologies are being adopted across apparel, healthcare, travel, and home categories, the IFABF news page aggregates these announcements in one place.
iFabric Corp. reported a record Q3 revenue of $5,238,900, a 26% increase from Q3 2021. The Intelligent Fabrics Division saw a 32% revenue growth, while the Intimate Apparel Division grew by 19%. Despite increased revenues, gross profit margin decreased to 40% due to higher shipping costs and inventory write-downs. Net earnings dropped to $344,805 compared to $705,406 in Q3 2021. For the nine months ending June 30, total revenues fell by 6% to $13,710,058, primarily due to a prior year's one-off N95 mask order. Adjusted EBITDA also declined significantly from $2,880,114 to $528,053.
iFabric Corp. has completed phase one of its clinical trial for medical garments treated with ProTX2 antimicrobial and REPELTX water-repellent technologies. Conducted at MemorialCare Medical Group in the U.S., the trial involved 125 nurses wearing three types of scrubs: untreated, treated with ProTX2, and treated with both ProTX2 and REPELTX. The principal goal is to assess bacterial load reduction on treated scrubs compared to untreated ones. The trial transitions to a laboratory phase for bacterial testing, followed by data analysis and submission for peer review.
iFabric Corp. has entered into a new licensing agreement with The North Face, allowing TNF to use RepelTX ecoPEL technology in its outdoor apparel, footwear, and equipment. This collaboration aims to enhance product performance through superior water repellency, as emphasized by CEO Giancarlo Beevis. The North Face is recognized for its commitment to sustainability and outdoor innovation, and this agreement signifies the strengthening partnership between the two companies.
iFabric Corp. (OTCQX: IFABF) announced a license agreement with Roots Corporation allowing its subsidiary, Intelligent Fabric Technologies (North America) Inc. (IFTNA), to utilize the Roots trademarks for manufacturing and distributing swimwear. This partnership aims to leverage IFTNA's innovative textile technologies, emphasizing a commitment to sustainability and quality. CEO Giancarlo Beevis highlighted the collaboration's potential in capturing a significant market segment, showcasing a fresh approach to swimwear. Roots, established in 1973, is a globally recognized lifestyle brand.
iFabric Corp. reported its Q2 and six-month financial results for 2022, achieving revenues of $3,477,287, up 21% from Q2 2021. The Intimate Apparel Division surged 299% to $1,260,153, while the Intelligent Fabrics Division saw a 14% decline due to delayed shipments. Gross profit margin dropped to 36%, affected by rising shipping costs. The company experienced a net loss of $671,680, compared to a loss of $141,155 in Q2 2021. Higher inventory levels aim to address logistics challenges. Working capital stood at $19,271,840.
iFabric Corp. (TSX: IFA, OTCQX: IFABF) announced delays in its EPA submission for advanced efficacy claims regarding its ProTX2 fabric-treatment technology. CEO Hylton Karon stated that the unpredictable process and resource limitations at the EPA are key factors contributing to the delay, making it unlikely for approval this April. Despite these challenges, iFabric remains optimistic, citing ongoing business growth from independent channels. The company currently has a sales run-rate of approximately C$20 million and maintains a profitable and solvent status.
iFabric Corp. held its annual meeting on March 31, 2022, where shareholders approved all resolutions. Notably, all director nominees were re-elected, with votes for varying between 99.85% to 99.97%. The meeting also confirmed BDO Canada LLP as auditors for the upcoming year and authorized unallocated stock options for an additional three years. The company operates through its divisions: Intelligent Fabric Technologies, focusing on high-performance sports and medical apparel, and Coconut Grove, which specializes in ladies' intimate apparel.
iFabric Corp. provides an operations update and outlook for fiscal 2022, highlighting key developments and milestones. The EPA's review of the PROTX2 health claims application is delayed, now expected by mid-April. Clinical trials for PROTX2-treated textiles are set to commence end-March. The company will launch its direct-to-consumer brand VERSUZ ALL Apparel in June 2022. Additionally, a warehouse upgrade has increased storage capacity by 50%. The intimate apparel division is expanding into new regions, including Mexico and South & Central America, accompanied by recovering sales.
iFabric Corp. (TSX:IFA, OTCQX:IFABF) will participate in Renmark Financial Communications' Virtual Non-Deal Roadshow on March 1, 2022, at 1:00 PM PST. The presentation, led by Hylton Karon, will cover the latest investor updates followed by a Q&A session. Stakeholders are encouraged to register for the event, with replay access available on iFabric’s investor website. The company, based in Markham, Ontario, offers innovative products through its subsidiaries, focusing on high-performance fabrics with intelligent properties, enhancing user safety and well-being.
iFabric Corp. (OTCQX: IFABF) reported its first-quarter fiscal 2022 results, revealing total revenues of $4,993,871, down 34% from $7,520,901 in Q1 2021. Core product revenue increased by 35% when excluding a previous emergency-use N95 mask order. The Intelligent Fabrics Division saw a 52% revenue decline, while the Intimate Apparel Division surged by 169%. Gross profit margins fell to 37%, while net earnings dropped to $167,960 or $0.006 per share. Despite challenges, the company's balance sheet remains strong, with ample liquidity for anticipated growth.
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