Telescope Innovations Presents Continued Growth in Fiscal Year 2024

Rhea-AI Summary

Telescope Innovations Corp (CSE: TELI) (OTCQB: TELIF) reported financial results for fiscal year 2024, showing revenue growth of 57% to $4.4M from $2.8M in FY2023. The company posted an Adjusted EBITDA loss of $152K, improved from a $225K loss in FY2023. Expenses increased to $5.8M from $3.5M previous year.

Key achievements include launching a multi-year collaboration with Pfizer for self-driving labs development, securing a global distribution agreement with Mettler Toledo for DirectInject-LC™, and obtaining funding for a lithium refinement pilot plant. The company also advanced new IP in lithium sulfide production and battery recycling technologies.

Positive

• Revenue growth of 57% year-over-year to $4.4M
• Reduced EBITDA loss from $225K to $152K
• Secured multi-year funded collaboration with Pfizer
• Established global distribution agreement with Mettler Toledo
• Obtained funding for lithium refinement pilot plant

Negative

• Expenses increased 66% to $5.8M from $3.5M
• Continued EBITDA losses of $152K

News Market Reaction

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+3.59% News Effect

On the day this news was published, TELIF gained 3.59%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Increased revenues fueled major research and commercialization projects for intelligent automation products and advanced chemical manufacturing

Vancouver, British Columbia--(Newsfile Corp. - December 23, 2024) - Telescope Innovations Corp. (CSE: TELI) (OTCQB: TELIF) ("Telescope" or the "Company"), a developer of advanced technologies and services for the global pharmaceutical and chemical industries, reports financial results for the fiscal year ended August 31, 2024. The Company generated revenues of $4.4 million during this period, with an Adjusted EBITDA loss of $152 K (Figure 1). Revenues have been strategically reinvested to drive team growth and enhanced capacity for both R&D and commercialization activities. As a result, the Company achieved key milestones, including the launch of a multi-year, funded collaboration with Pfizer to develop self-driving labs and a global distribution agreement with Mettler Toledo for DirectInject-LC™. During this period, Telescope Innovations also secured funding to construct a pilot plant for lithium refinement while advancing new IP in lithium sulfide production and battery recycling.

Figure 1. Revenue and EBITDA for FY 23 and 24 in CAD, along with major milestones achieved in each fiscal year.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8923/234965_asset_25.jpg

FINANCIAL HIGHLIGHTS OF THE FISCAL YEAR ENDED AUGUST 31, 2024

All values are represented in CAD.

• Revenues of $4.4 M, versus $2.8 M for FY 2023, representing 57% revenue growth
• Expenses of $5.8 M, versus $3.5 M for FY 2023
• Adjusted EBITDA loss of $152 K, versus loss of $225 K for FY 2023

"Our progress this year reflects the strategic focus and innovation driving Telescope forward," commented Henry Dubina, Telescope CEO. "By reinvesting in groundbreaking projects like our collaboration with Pfizer on self-driving labs, the global rollout of DirectInject-LC™ with Mettler Toledo, and our advancements in lithium refinement and recycling technologies, we are building a solid foundation for sustainable growth and long-term industry leadership."

Readers are encouraged to review the full financial statements and accompanying management discussion and analysis for the fiscal year ended August 31, 2024, both of which are available under the profile for the Company on SEDAR+ (www.sedarplus.ca).

About Telescope

Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The Company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency, and data quality. Our aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability.

On behalf of the Board,

Telescope Innovations Corp.

Henry Dubina, Chief Executive Officer
E: hdubina@telescopeinn.com

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234965

FAQ

What was Telescope Innovations (TELIF) revenue growth in FY 2024?

Telescope Innovations reported a 57% revenue growth in FY 2024, reaching $4.4M compared to $2.8M in FY 2023.

How much did TELIF's expenses increase in fiscal year 2024?

Telescope's expenses increased to $5.8M in FY 2024 from $3.5M in FY 2023, representing a 66% increase.

What major partnerships did Telescope Innovations secure in FY 2024?

Telescope secured a multi-year collaboration with Pfizer for self-driving labs development and a global distribution agreement with Mettler Toledo for DirectInject-LC™.

What was TELIF's Adjusted EBITDA for fiscal year 2024?

Telescope reported an Adjusted EBITDA loss of $152K for FY 2024, improved from a loss of $225K in FY 2023.

What new technology developments did TELIF announce in FY 2024?

The company advanced new IP in lithium sulfide production and battery recycling technologies, and secured funding for a lithium refinement pilot plant.