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Tantalus Systems Reports Financial Results for Q4 and Fiscal Year of 2023, Reports Record Revenue for the Year
Tuesday, April 16, 2024Company Profile | Follow Company
Delivers record revenue and neutral Adjusted EBITDA for the year
Burnaby, BC, April 16, 2024--(T-Net)--Tantalus Systems (TSX: GRID), a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data, announced its financial and operating results for the quarter ("Q4") and fiscal year ("FY") ended December 31, 2023.
Financial Highlights for FY 2023 and Q4 20231:
Peter Londa, President and CEO, Tantalus Systems Corp.
"Delivering record results for revenue, percentage contributions from Software & Services, Gross Profit Margin percentage and Annual Recurring Revenue are a testament to the hard work and collaboration of our entire team," said Peter Londa, President & CEO of Tantalus.
"We are pleased to maintain a favorable trajectory for our shareholders by delivering another year of growth and reverting back to neutral Adjusted EBITDA for the year. We continue to invest heavily in the development and commercialization of the TRUSense Gateway and our TRUSync™ Grid Data Management software. As we gather feedback from the industry, we believe these investments in R&D represent a substantial near- and long-term opportunity for the Company and will ensure Tantalus is well-positioned to help utilities accelerate their grid modernization efforts."
About Tantalus Systems Holding Inc. (TSX:GRID)
Tantalus is a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data across all their devices and systems deployed throughout the entire distribution grid.
We offer a grid modernization platform across multiple levels: intelligent connected devices, communications networks, data management, enterprise applications and analytics.
Our solutions provide utilities with the flexibility they need to get the most value from existing infrastructure investments while leveraging advanced capabilities to plan for future requirements. Learn more at http://www.tantalus.com/.
Additional Details on Earnings Report Financial Statements and Management Discussion & Analysis
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Forward-Looking Statements:
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