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Canadian Tech Firm's Revenue Jumps 702% in Q1

Stockhouse Editorial
2 Comments| May 16, 2022

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One of Canada’s leaders in smart buildings and cities through IoT, Cloud, and SaaS technology saw a record Q1 2022 financial performance.

Kontrol Technologies Corp. (CSE: KNR, Forum) provided investors with an update on Monday that said the company earned record revenues of $26.6 million in Q1 2022, a 702% year-over-year increase.

Further highlights:

  • Record Adjusted EBITDA of $2.5 million, up 123% year-over-year
  • Net income of $1.6 million, compared to net loss of $823,733 in Q1 2021
  • Gross profit of $6.7 million, up 281% year-over-year
  • Working capital of $7.1 million, an increase of $3.4 million over year end

Speaking to investors in a media release on this news, Kontrol Technologies’ Chief Executive, Paul Ghezzi said that the team’s Q1 2022 performance reflects its continued operational execution as they make progress toward realizing its strategic vision.

“We are working diligently to scale the Kontrol platform while maintaining discipline in the management of our capital structure and remain deeply focused on growing profitability. As we look forward, we are well positioned for continued growth by bringing innovative solutions that enable our customer base to achieve greater sustainability across their businesses.”

Kontrol also made news recently after it launched the development of Kontrol BioWater, an extension of the company’s current Kontrol BioCloud technology, for early viral detection in water systems.


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