Looking at the P&L If we start with the bottom line, there is still a loss over the last 3 months of 3.8 million, and 6.2 million.
They are still losing money and given the issues I posted earlier with liquidity concerns and working capital deficiencies, how can they grow and survive if they continue to lose money?
They need to finance, dilute, or get revenue now.
Looking deeper, some of the top line stuff looks better, and of course was the focus of the presser. The question is to me, are improvements, even if you are still losing millions, an indication the business is actually improving and is it sustainable? Also what is the quality of the earnings? And are the reductions in COGS temporary and affetcted by one time items for example? Lets look at the revenue…
Looking at the P&L we see PYR shows a improvement in vs MRQ and 2023 with Increased Revenue (Q3 2024: increased 8.6% to CAD 4,002,689 from CAD 3,685,725 in Q3 2023 and First 9M 2024: 11,428,183, a 22.7% increase from 9,316,826
So what about the quality ofn the revenue? Signs of revenue volatility ( PUREVAP™ revenue dropped from $1,388,854 for the nine months in 2023 to $717,861 and U.S. Navy” revenue has declined from $2,168,820 to $1,626,149) both arenot optimal.
The Torch line looks strong with revenue increasing over 9m from $2,682,979 in 2023 to $4,979,766 in 2024. It does raise the risk on this product and based on comments of early development being non profitable. There is question if this line is not profitable, and overall there is no profitability for the company as noted. Who cares if you make the biggest hamburger in the world if the cost of producing it is more than the sale and you cant get paid?
PYR has $26,275,769 in unsatisfied performance obligations over the next three years, so they need to execute, and with liquidity issues noted earlier.... the question is can they ?
The other big question is the costs-will look at those later, hopefully-need to understand costs and how they affect actual cashflows, sustainability etc
all imo
for entertainment only
for fun and to learn-so data driven comments welcome