The Trend Is Your Friend - Q/Q progress reviewedOne aspect I really liked on yesterday's call was transparency. With clarity on a $3.8M revenue shift and a $2.3M unexpected cost over-run, the following table shows that EBITDA has improved each quarter in 2023 when those adjustments are considered, reflecting the progress trend line:
Q1 -17.8%
Q2 +6.0%
Q3 +8.7%
| QTRH ITS | | | | |
| | | | | |
| | Q3-23 Adj. | Q3-23 | Q2-23 | Q1-23 |
| Total Revenue | $49,500 | $45,685 | $51,865 | $38,315 |
| | | | | |
| Cost of Revenue | $35,500 | $35,120 | $38,428 | $33,237 |
| | | | | |
| Gross Profit | $14,000 | $10,565 | $13,437 | $5,078 |
| | | | | |
| Margin | 28.3% | 23.1% | 25.9% | 13.3% |
| | | | | |
| Selling/General Admin | $8,100 | $8,219 | $8,235 | $9,405 |
| R&D | $1,000 | $756 | $1,354 | $1,175 |
| Other | $600 | $523 | $745 | $1,303 |
| TOTAL Cash Expenses | $9,700 | $9,498 | $10,334 | $11,883 |
| | | | | |
| EBITDA | $4,300 | $1,067 | $3,103 | -$6,805 |
| | | | | |
| EBITDA Percent | 8.7% | 2.3% | 6.0% | -17.8% |
| | | | | |
| Interest/Depreciation/ Amortization | $6,024 | $6,024 | $6,867 | $5,865 |
| Corporate | | | | |
| | | | | |
| Operating Income | -$1,724 | -$4,957 | -$3,764 | -$12,670 |
| | | | | |
| Operating Income Percent | -3.5% | -10.9% | -7.3% | -33.1% |
| | | | | |
| Shares OOS (000s) | 115,000 | 115,000 | 114,650 | 114,640 |
| | | | | |
| EPS/share | -$0.01 | -$0.04 | -$0.03 | -$0.11 |
| | | | | |
| EBITDA/share | $0.04 | $0.01 | $0.03 | -$0.06 |
| | | | | |
| | | | | |
| Reported Backlog USD | | >$500.0 | >$500.0 | >$500.0 |
| Reported Backlog $CDN | | >$675.0 | >$675.0 | >$675.0 |