Q4 and Year End Results Here's what is all about IMO.
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The Corporation’s SG&A reached $44.2 M for the year ended June 30, 2023, compared to $33.4 M for the same period of the previous fiscal year, representing an increase of $10.8 M, or 32.5%, while the revenues of the Corporation increased by 37.4%. Those increases are due to the pressure on salaries, the hiring of additional resources as well as higher stock-based compensation costs. Despite the increase in SG&A expenses, the percentage of SG&A expenses over revenues (SG&A ratio) for the twelve-month period decreased by 0.6%, showing the scalability of our business model as revenues continue to grow. Investments made in sales and business development are paying off since revenues are growing faster than the SG&A ratio."
I do feel like saying paint may try faster than profitability ?
Maybe though given the contracts announced today - Help?
H2O Innovation Adds $35.5 M of New O&M and WTS Projects..............
Company supposedly sees "After managing constant price increases in our supply chain and high inflation in the labor market, we now see more stability on the horizon. We have implemented initiatives to recover and improve our gross profit margin profile in the coming quarters, such as amongst others, price increase programs, CPI adjustments on O&M contracts and the insourcing of some of our manufactured products"
So maybe the paint starts to dry faster?