California Nanotechnologies Announces Q3 2025 Results

Core Insights - California Nanotechnologies Corp. reported quarterly revenues of US$1,806,205 for the fiscal quarter ending November 30, 2024, marking a 56% increase year-over-year [1] - The company achieved an adjusted EBITDA of US$826,453, a 94% increase compared to the prior year, driven by higher revenue from manufacturing services and improved gross margins [2][6] - Net income for the quarter was US$113,140, a decrease of 78% from US$513,897 in the same period last year, primarily due to non-cash charges related to share purchase warrants [3][4] Financial Performance - Revenues for the three months ended November 30, 2024, were US$1,806,205, up from US$1,159,234 in the same period last year, representing a 56% increase [6] - Gross profit increased to US$1,392,222, a 79% rise from US$778,741 year-over-year, with a gross margin of 77%, up from 67% [6][10] - The company recorded a diluted earnings per share of $0.00, compared to $0.01 in the same period last year [4] Operational Highlights - The increase in revenue was attributed to the ramp-up of manufacturing programs and a Spark Plasma Sintering (SPS) equipment delivery [6] - The new Santa Ana facility began recognizing revenue this fiscal quarter after being commissioned in September 2024, contributing significantly to the revenue growth [8] - The company repaid approximately US$600,000 in borrowings from Omni-Lite Industries, achieving a debt-free status for the first time in 15 years [12] Strategic Initiatives - The company is focused on reducing customer concentration risk by investing in sales and business development capabilities [9] - A new mid-sized SPS2000 machine was installed at the Santa Ana facility, enhancing the range and capacity of SPS manufacturing services [11] - The company anticipates fluctuations in gross margin based on manufacturing service mix and equipment sales [10]