Interim report
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SMART WIRES REIMAGINE THE GRID SMART WIRES TECHNOLOGY LTD . Q3 2021 INTERIM REPORT ● Key Business Events and Metrics On course to deliver 2x - 3x growth for 2021 Qualified pipeline increased to $ 5B , new opportunities identified in existing markets Revenue of $ 5.9M , + 68 % . ● Fully diluted loss per share of $ 0.14 , + 54 % improvement 2021 full year revenue guidance of $ 38M - $ 42M Backlog of $ 72M to be delivered Q4 2021 - Q4 2022 Orders between $ 36M to $ 42M received for projects in Colombia and the UK Five patents issued , total of 59 patents granted for high value inventions Completed delivery and commissioning of SmartValve ™ projects across nine customer sites as of Q3 2021 Key Figures ( Unaudited ) ( $ in millions , unless stated otherwise ) Q3-21 Change Revenue $ 5.9 68 % 5.2 13 % $ 0.7 128 % 12 % 83 % 16.2 45 % $ ( 15.5 ) $ ( 13.7 ) ( 13 % ) $ ( 15.1 ) $ ( 13.2 ) ( 15 % ) ( 258 % ) ( 377 % ) 119 % $ ( 15.5 ) $ ( 15.1 ) ( 3 % ) ( 264 % ) ( 432 % ) ( 168 % ) 108.8 $ ( 0.14 ) ● ● Gross margin of 12 % , +83 ppt improvement EBITDA loss of $ 15.1M , $ 1.9M incremental loss driven by business investments Cost of revenue Gross profit Gross margin Operating Expenses Loss from operations EBITDA EBITDA margin Net profit Net Profit Margin SSSC - 5 A Fully diluted shares Fully diluted earnings per share ( $ ) Ending cash Total current assets Total current liabilities 00 00 00 00 Net working capital Cash flows from operations $ 89.5 $ 121.4 $ 24.2 $ 97.2 $ ( 19.2 ) Q3-20 $ 3.5 6.0 $ ( 2.5 ) ( 71 % ) 11.2 48.5 $ ( 0.31 ) $ 23.9 $ 50.1 $ 31.1 $ 19.0 $ ( 10.4 ) 54 % 274 % 142 % ( 22 % ) 412 % ( 84 % ) 9 Month - 21 $ 28.3 27.7 $ 0.7 2 % 44.9 $ ( 44.2 ) $ ( 43.0 ) ( 152 % ) $ ( 48.7 ) ( 172 % ) 108.8 $ ( 0.45 ) $ 89.5 $ 121.4 $ 24.2 $ 97.2 $ ( 50.0 ) 9 Month - 20 Change 296 % 53 % 106 % 155 % 35 % ( 0 % ) ( 1 % ) 445 % ( 5 % ) 475 % $ 7.1 18.0 $ ( 10.9 ) ( 153 % ) 33.3 $ ( 44.2 ) $ ( 42.6 ) ( 596 % ) $ ( 46.2 ) ( 647 % ) 48.5 $ ( 0.95 ) $ 23.9 $ 50.1 $ 31.1 $ 19.0 $ ( 43.6 ) 53 % 274 % 142 % ( 22 % ) 412 % ( 15 % ) Note : Unaudited financial statements presented herein are prepared in accordance with U.S. Generally Accepted Accounting Principles