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Not for distribution to U.S. news wire services or for dissemination in the United States AVANTE LOGIXX INC . ANNOUNCES ADJUSTED EBITDA OF $ 0.6 MILLION ( OR $ 0.03 PER SHARE ) FOR ITS SECOND QUARTER ENDED SEPTEMBER 30 , 2021 ON REVENUES OF $ 22.6 MILLION TORONTO - Ontario- November 29 , 2021 - Avante Logixx Inc. ( TSX.V : XX ) ( OTC : ALXXF ) ( " Avante ” or the " Company " ) released financial results for its second fiscal quarter ended September 30 , 2021 ( all amounts in thousands of Canadian dollars , unless otherwise indicated ) . In addition , the Company's Board of Directors continues to make progress on and evaluate the various strategic alternatives available to the Company as announced on August 24 , 2021 ( the " Strategic Review " ) . RESULTS FOR THE THREE - MONTH PERIOD ENDED SEPTEMBER 30 , 2021 Avante's Fiscal Year End is March 31 . Expressed in C $ thousands , unless otherwise noted Three Months Ended 30 - Sep - 20 Revenues $ 23,602 30 - Jun - 21 $ 24,120 30 - Sep - 21 $ 22,601 Gross profit ( 1 ) $ 5,774 $ 5,894 $ 4,242 Gross profit margin ( 1 ) 24.5 % 24.4 % 18.8 % Direct Operating Expenses ( 1 ) $ 4,034 $ 3,840 $ 3,668 EBITDA ( 1 ) $ 1,190 $ 1,799 ( $ 2,085 ) Adjusted EBITDA ( 1 ) $ 1,719 $ 2,008 $ 627 Comprehensive income ( loss ) attributed to Avante shareholders ( $ 367 ) $ 277 ( $ 2,926 ) Basic and fully diluted income per share ( $ 0.025 ) $ 0.013 ( $ 0.138 ) Basic and fully diluted Adjusted EBITDA per share ( 1 ) $ 0.081 $ 0.095 $ 0.030 Cash Flow from Operations before Working Capital $ 1,713 $ 1,370 $ 623 " During Q2 we have been responding to the challenges created by the current economic environment " said Craig Campbell , CEO and Director of Avante . " It is a difficult operating environment , driven by inconsistent re - opening and return to work policies and implementation , coupled with a tight labour market and supply chain constraints resulting in significant increases in our labour costs as a percent of revenue . I am proud of the team and our businesses that despite these challenges , we have demonstrably grown recurring and contractual revenue , while reducing our direct operating expenses . It is my belief that these challenges are transitory and short term in nature . While navigating these challenges we continue to drive profitable growth in new markets while onboarding net new customers , increasing wallet share with existing customers all while remaining focused on improving our operating metrics . " The Company reported year - over - year revenue declines of 4.2 % and Adjusted EBITDA declined from $ 1.72 million in Q2 F21 to $ 0.63 million during Q2 F22 . However , Avante delivered growing recurring monthly ( 1 ) Adjusted EBITDA , EBITDA , Gross Profit , Gross Profit Margin and Direct Operating Expenses are non - IFRS measures . See Description of Non- IFRS Measures .