LeddarTech Reports FY24 Results

Core Insights - LeddarTech Holdings Inc. reported significant progress in fiscal year 2024, including a strategic collaboration with Texas Instruments, which is expected to enhance its market position in the ADAS and autonomous driving sectors [2][4]. Business and Technology Highlights - The company introduced LeddarNavigator demonstration vehicles in Europe and China, engaging with key OEMs and showcasing its LeddarVision technology [3]. - LeddarTech achieved ISO/IEC 27001 certification, strengthening its cybersecurity framework [3]. Financial Performance - Revenue from continuing operations for fiscal year 2024 was $0.5 million, an increase from $0.2 million in fiscal year 2023 [7]. - The net loss from continuing operations for fiscal year 2024 was $167.3 million, compared to a net loss of $43.8 million in fiscal year 2023 [7][20]. - Adjusted EBITDA loss for fiscal year 2024 was $30.4 million, an improvement from a loss of $34.8 million in fiscal year 2023 [8]. Customer Engagement - The company responded to RFI/RFQs with a total software sales value of approximately $700 million and launched new proof-of-concept projects with major partners [5]. Balance Sheet and Liquidity - As of September 30, 2024, LeddarTech's cash balance was $5.3 million, with a subsequent increase to approximately $20.8 million following recent financing activities [10].