Thermal Energy International Inc V.TMG

Excellent Quarter

[AlbertESG]

8.2 million for Q4!
This is well beyond my expectation of around 6 million.

[Mostlyserious]

I had a range between $6 and $9 but it really didn't matter to me because of the backlog.  Greater quarter now takes that bit away from 2024.  Smaller quarter now adds that bit to 2024. So it is kind of a pro/con situation looking at the medium picture. It's all about the backlog and as at the begging of this month, we have some $21 million to add to.  That is solid. 

[Mostlyserious]

I should also add, MBC better get to work now, or we have blown the money that could have been used for a sales person base salary!  $4 million recent contract, these financial results, they have a lot to work with!

[stockpickman]

Great results, some great hi-lights.....Go TMG Go Order backlogii: $13 million as at May 31, 2023 and $21.4 million as at September 26, 2023 We saw a return in demand for our turn-key solutions, adding to the already strong growth we had in Custom Equipmentiii. Additionally, our order intake and number of signed project development agreements in fiscal 2023 were higher than ever

[Mostlyserious]

That's an interesting metric.  Backlog as at the end of May of $13 million and $21.4 million at the end September.  About $8.5 million growth during the quarter.  Annualize it, and we have solid growth.  But, as stated, $4 million of it is 1 contract, so the run rate without this contract is $4.5 million, not that impressive annualized.  All to say, increase in heat