Earnings release
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SATO Technologies Reports Profitability and Strengthened Balance Sheet for Fiscal Year 2024 Toronto, Ontario--(Newsfile Corp. - April 29, 2025) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO") a provider of high-density compute infrastructure, today announced its audited financial results for the fiscal year ended December 31, 2024. Despite significant industry shifts, including the Bitcoin Halving event in April, SATO delivered a profitable year and continued to strengthen its balance sheet. Please refer to the Company's Audited Financial Statements and the accompanying Management's Discussion and Analysis for full details and discussion of the results, copies of which have been filed and are available under the Company's profile on SEDAR+ ( www.sedarplus.ca ) and are available on the Company's website ( www.bysato.com ). Key Financial Highlights (FY2024 vs. FY2023) Net Income increased 51% to $1.17 million , compared to $0.78 million in 2023 Digital Assets Revenue grew 48% to $16.05 million (2023: $10.84 million) Operating Income of $2.25 million (2023: $2.15 million) Gross Profit of $3.05 million , reflecting consistent mining performance Total Liabilities reduced by 36% to $9.7 million (2023: $15.1 million) Shareholders' Equity increased 26% to $8.3 million (2023: $6.6 million) Digital Asset Holdings doubled to $4.56 million (2023: $2.24 million) " We are pleased to report another profitable year, with significant improvements in equity, asset quality, and operational efficiency. These results reflect the strength of our team, our infrastructure, and our long-term vision. We're emerging from a transitional year more focused, more efficient, and better positioned to scale into new compute opportunities, " said Romain Nouzareth, Chair and CEO of SATO. Strategic and Operational Highlights Post-Halving Resilience : Maintained profitability following the April 2024 Bitcoin Halving Debt Reduction : Repayment of over $3.3 million in long-term borrowings Treasury Strength : Digital assets up over 103% , strengthening SATO's Bitcoin reserve position SATO continues to explore new opportunities in AI compute infrastructure and high-performance GPU hosting in Canada and the rest of the world. The Company remains focused on: Reducing operational costs Expanding sustainable, sovereign infrastructure Enhancing shareholder value through disciplined capital management SATO Technologies will host a live conference call on Monday May 5th, 2025 at 11:00 AM EST. The call will begin with a live presentation of the operational highlights, our AI/HPC vision including Bitcoin
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mining, and the financial results for the year 2024, and be followed by a Q&A session. Registration link can be found below, with analysts, media, and investors invited to attend. Live Conference Call Details : Date: Monday May 5th, 2025 Time: 11:00 AM Eastern Time Ask your questions in advance: https://forms.gle/DnV3XBGgr65T8JAZ7 Get the link for the Live Event: https://www.bysato.com/events A recording of the conference call will be available on our website shortly after the event for those who are unable to attend. We look forward to having you join us for this important update and appreciate your continued support. On behalf of the board, Romain Nouzareth, SATO CEO and Chairman About SATO SATO, founded in 2017, is a publicly listed company providing efficient computing power. The Company currently operates one data center tailored to provide computing power for Bitcoin Mining, but may look to expand or add additional data centers for computing power for Bitcoin Mining, High Power Computing ("HPC"), Artificial Intelligence ("AI"). The Company is listed on (TSXV: SATO) & (OTCQB: CCPUF). To learn more about SATO, visit www.bysato.com . For additional information, please contact: Investor Relations: invest@bysato.com Phone: +1 (347) 280 3663 NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Cautionary Statement Regarding Forward-Looking Information This news release contains certain forward-looking statements, including statements relating to the future performance of the Company, and other statements that are not historical facts. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward- looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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