Clear Blue Technologies Announces Fiscal 2024 Results & Provides Corporate Update

Core Viewpoint - Clear Blue Technologies International Inc. has successfully completed financial restructuring in Q4 2024, positioning the company for strong growth in 2025 [1][3]. Financial Results - Bookings increased to $5,071,105, a 105% increase compared to $2,469,846 as of December 31, 2023, with delivery expected over the next three years [5]. - TFQ revenue was $2,758,295, a 49% decrease from $5,403,589 in F2023 [5]. - TFQ recurring revenue was $759,261, a 2% increase from $747,148 in F2023 [5]. - TFQ Gross Profit decreased to $1,349,792, a 45% decrease compared to $2,471,345 in the comparable period, while gross margin percentage increased to 49% from 46% in F2023 [5]. - Non-IFRS Adjusted EBITDA for the period was ($2,960,457), a 51% degradation from ($1,959,397) in the previous period [5]. - Cash as of December 31, 2024, was $339,905 and remained stable through Q1 [5]. Corporate Update & Financial Outlook - The final quarter of 2024 was challenging due to uncertainty around contracted grant funding, prompting the company to implement significant measures to enhance its financial position [3]. - Cost reductions exceeded $3 million, excluding an additional $1 million in interest savings from a successful debt conversion initiative [6]. - The company expects a more balanced cash flow profile, enabling resource allocation toward core growth initiatives and operational execution [3]. Strategic Positioning - Clear Blue has established relationships with marquee customers globally, reducing dependence on U.S. customers [4]. - The company enters 2025 with strong momentum, reporting $5,866,625 in bookings, a 138% increase over 2024 [7]. - The company has announced three major agreements in the past six months, reinforcing its growth trajectory [7].