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Tantalus Systems Holding Inc. reported financial results for Q1 of 2024, achieving record sales orders of US$21.6 million, a 10% revenue decrease due to order conversion timing, and an ARR of US$11.6 million. Gross Profit Margin increased to 53%, while Adjusted EBITDA was (US$0.5 million). The company ended Q1 with total assets of US$35.5 million.
Tantalus Systems (TSX: GRID) released the findings of its second annual Utility of the Future Survey, highlighting utilities' concerns regarding grid data management, cybersecurity, hiring and retaining staff, decarbonizing the grid, and the impact of electric vehicles. While most utilities prioritize grid modernization, the survey revealed that only 5% feel completely prepared, with the majority feeling somewhat prepared or not prepared at all.
