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Legend Power Systems Inc. (OTCQB: LPSIF) is described in its news releases as a global leader in commercial electrical system solutions, focused on intelligent energy management for commercial and institutional buildings. The Legend Power Systems news feed highlights developments around its SmartGATE active power management system and related assessment tools.
Investors and industry observers can use this page to follow company announcements about financial results, partnerships, deployments, and technology evaluations. Recent releases include quarterly financial reports, details on private placements and warrant term amendments, and commentary from management about sales pipelines and operational priorities.
Operational news often centers on SmartGATE installations and follow-on orders, such as repeat orders from longstanding customers and initial orders from organizations like the City of New York Public School System. The company also reports on engagements with large North American airports and transport agencies to assess power quality and energy efficiency challenges, as well as on participation in U.S. federal programs that evaluate emerging building technologies.
Another key theme in Legend Power Systems’ news is the expansion of its partner ecosystem. Announcements describe strategic partnerships with firms such as Unity Electric in New York City and a franchise network operated by a large facility management company, giving electrical and HVAC contractors access to SmartGATE and SmartGATE Insights Power Impact Assessments.
By reviewing the Legend Power Systems news page, readers can track how the company positions its SmartGATE technology, how it uses diagnostic tools like the Voltage Adherence Risk metric, and how it reports on progress across commercial real estate, education, government, and military sectors. This page can be revisited to see new financial disclosures, customer wins, and partnership updates as they are released.
Legend Power Systems has secured an engagement with a major North American Transportation Agency to address power quality challenges at one of the top 10 US airports. The initiative, signed in mid-January 2025, will commence in mid-February, initially evaluating two key facilities with potential deployment of up to eight SmartGATE™ systems.
The project aims to enhance energy performance and resilience at the transportation hub, particularly focusing on challenges related to integrating renewable energy sources. The solution targets power quality issues affecting critical systems including elevation, HVAC, lighting, and life safety equipment.
According to Mike Cioce, VP of Sales and Marketing, this engagement reflects growing demand for power quality solutions in mission-critical environments. The project presents potential for broader implementation across the Agency's infrastructure following initial evaluation as part of their long-term energy strategy.
Legend Power Systems (LPSIF) has announced a strategic partnership with Unity Electric, an Equans company, to expand the distribution of its SmartGATE platform in New York City. Unity Electric will serve as a key sales, distribution, and installation partner, bringing significant reach through Equans' global network, which generates $19 billion in annual revenue across 20+ countries.
The partnership aims to address critical power challenges in NYC's commercial properties, where aging infrastructure and demanding energy profiles create stability issues. SmartGATE, a turnkey energy management solution, optimizes building electrical systems to improve performance and reduce energy waste.
Unity Electric, the premier electrical contractor in NYC metro area, brings extensive expertise and a portfolio of top commercial real estate clients. This collaboration is expected to enhance customer access to SmartGATE technology while leveraging Equans' extensive resources to scale Legend Power's solutions into new markets and industries.
Legend Power Systems reported Q4 F2024 financial results with revenue of $705,335, up 343% from $159,114 in Q4 F2023. The company posted a net loss of $832,475, improved from a $969,729 loss in Q4 F2023. Gross margin improved to 21% compared to negative 4% in the same quarter last year.
For the full fiscal year 2024, revenue reached $1,872,973, a 69% increase from $1,106,093 in 2023. The company maintained a strong financial position with no debt and $742,000 in working capital. Operating expenses decreased to $4,014,333 from $4,430,493 in the previous year due to cost-cutting measures. The company reported increased sales activity and engagement with commercial real estate firms, with over 196 buildings in active sales cycles for more than 400 potential SmartGATE units.
Legend Power Systems (TSXV: LPS) (OTCQB: LPSIF), a global leader in commercial electrical system solutions, has announced it will release its fiscal 2024 financial results for the year ended September 30, 2024, before market open on Friday, December 20, 2024. The company will host a webinar at 11:00 AM ET (8:00 AM PT) on the same day to discuss the results and provide a business update. The webinar will be hosted by Randy Buchamer, President and CEO, with a replay available on the company's website.
Legend Power Systems (TSXV: LPS) (OTCQB: LPSIF) has issued a clarification to retract a revenue projection statement from their December 3, 2024 corporate update. The company highlights progress across five strategic pillars: U.S. GSA Green Proving Ground Program, Department of Defense initiatives, Energy Performance Contracts, City of New York collaborations, and GSA Multiple Award Schedule.
Key developments include two SmartGATE system installations for GSA, a DoD letter of intent for 10 systems, successful ESCO partnerships, and involvement in NYC's US$4 billion school electrification initiative. The company reports record bookings, improving gross margins approaching 50%, and expects to achieve EBITDA-positive operations in 2025.
Legend Power Systems reports significant progress across five strategic pillars aimed at driving growth. The company highlights key developments including: participation in the U.S. GSA Green Proving Ground program with upcoming SmartGATE installations; a Department of Defense letter of intent for 10 SmartGATE systems; expanding presence in the Energy Performance Contracting market; deepening collaboration with New York City's electrification initiatives; and pending GSA Multiple Award Schedule designation. The company reports record-breaking bookings, improving gross margins approaching 50%, and projects achieving EBITDA-positive operations in 2025. Management forecasts potential annual revenue exceeding $100 million within 3-5 years.
Legend Power Systems announced the approval of 5,200,000 incentive stock options to acquire common shares, subject to TSX Venture Exchange acceptance. Of these options, 3,150,000 were granted to executive officers and the remainder to employees. The options are non-transferable, exercisable until November 5, 2029, at $0.22 per option, with vesting provisions.
Legend Power Systems Inc. (TSXV:LPS)(OTCQB:LPSIF), a leader in commercial electrical system solutions, announces CEO Randy Buchamer's participation in the Planet MicroCap Showcase: VANCOUVER 2024. Buchamer will present on September 25, 2024, at 10AM PT / 1PM ET and host investor meetings. The company highlights recent achievements, including a $3 million Letter of Intent from the Department of Defense, bringing total order visibility to $5.5 million. Legend Power also reports a 50% gross margin in their most recent quarter. The event provides an opportunity for current and potential investors to engage with the company's leadership and learn about its progress in active power management for commercial properties.
Legend Power Systems Inc. (TSXV: LPS) (OTCQB: LPSIF) reported its Q3 F2024 financial results, showing significant improvements. Revenue increased 122% to $1.04 million compared to Q3 F2023. The company's gross margin improved to 50%, up from 22% in the same quarter last year. Net loss decreased by 53% to $482,386, while Adjusted EBITDA loss improved by 56% to $392,191.
Operational highlights include progress with the City of New York's DCAS IDEA program, advancement in the Green Proving Ground program for the U.S. General Services Administration, and a strong pipeline in government and commercial real estate sectors. The company reported $806,000 in cash, no debt, and $1.5 million in working capital as of June 30, 2024.
Legend Power Systems Inc. (TSXV: LPS) (OTCQB: LPSIF), a leader in commercial electrical system solutions, has announced the release date for its Q3 2024 financial results. The company will publish its results for the nine months ended June 30, 2024, before the market opens on Friday, August 23, 2024. Additionally, Legend Power has scheduled a webinar for the same day at 11:00 AM ET (8:00 AM PT) to provide a business update and discuss the financial results.
The webinar will be hosted by Randy Buchamer, President and CEO of Legend Power. Interested parties can register in advance for the webinar, and a replay will be available on the company's website afterward.