Q3 2024 Exro Technologies Inc Earnings Call Transcript

Nov 13, 2024 / 11:00 PM GMT

Release Date Price: C$0.245 (-10.91%)

Transcript

Key Points

Positve

Exro Technologies Inc (EXROF) achieved a revenue growth of 108% in Q3 2024, driven by the delivery of a record 74 E propulsion systems.
The company successfully reduced costs, achieving over 18% savings on their systems since April 2024.
Exro Technologies Inc (EXROF) improved its unit cost of goods sold by more than 20% over the last quarter.
The integration of Exro's coil driver into all propulsion systems remains on track for the second half of 2025.
The company has made significant progress in its strategic goals, including cost savings and integration with OEM partners like Hino and MAC.

Negative

Exro Technologies Inc (EXROF) faced challenges in meeting its initial target of delivering 250 units post-merger, achieving less than half of that goal.
The company had to write down $211 million in goodwill and intangible assets due to a decline in share price and decreased volume outlook.
Despite revenue growth, Exro Technologies Inc (EXROF) reported a gross profit loss of $1.7 million in Q3 2024.
The company is still working through legacy C acquisition payables, which increased accounts payable to $31.3 million.
Exro Technologies Inc (EXROF) continues to face challenges in supply chain efficiency, impacting its ability to ramp up production.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

EXRO.TO - Exro Technologies Inc
Q3 2024 Exro Technologies Inc Earnings Call
Nov 13, 2024 / 11:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day, everyone and welcome to the Extra Technologies Q3 2024 earnings call at this time, all participants are in a listen-only mode later. You will have the opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing star one on your telephone keypad. You may withdraw yourself in the queue by pressing Star two.

Please note this call may be recorded and I will be standing by if you should need any assistance.

It is now my pleasure to turn the conference over to Mr Jeff Odone. Please go ahead, sir.

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Unidentified_2 [2]
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