|Bid||0.3850 x 0|
|Ask||0.3900 x 0|
|Day's Range||0.3400 - 0.4400|
|52 Week Range||0.0600 - 0.6000|
|Beta (5Y Monthly)||1.73|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar. 02, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
CALGARY, Alberta, March 01, 2021 (GLOBE NEWSWIRE) -- Eguana Technologies Inc. ("Eguana" or the "Company") (TSX-V: EGT, OTCQB: EGTYF) today announced results for its first fiscal quarter ended December 31, 2020. “The team nearly set another product sales record in Q1 2021 and included LFP systems sales for the first time. The company will continue accelerate its supply and transition to a flow manufacturing model with more consistency, predictability and reliability,” stated Justin Holland, Eguana Chief Executive Officer. Fiscal Q1 2021 Financial Highlights Q1 2021 product revenue of $2.32 million, consistent with Q1 2020 product revenue of $2.34 millionQ1 2021 gross margin from product sales of $0.2 million, or 8.2%, relative to $0.03 million, or 1.4%, in Q1 2020Q1 2020 included engineering revenue of $0.25 million, with a 78.2% gross margin. There was no engineering revenue for Q1 2021.First quarter 2021 operating loss of $1.7 million relative to a $1.3 million operating loss for the same period in 2020 Business Highlights Shipped first cobalt-free LFP units into the California marketLaunched development of the 10kW/28kWh cobalt-free full home backup productCompleted multiple development projects including QCELLSCommenced field trials for Moixa-based Evolve with Itochu and SunnovaClosed $1.15 million private placement of 1,115 LP units, and $1.5 million brokered private placement to fund new product development “Gross margins improved as expected and will continue to improve throughout the year to achieve our margin objectives. Additional cost reduction initiatives, along with building demand for higher margin, feature rich products, strengthens our conviction that this positive trend will continue as we drive towards profitability this year,” Holland added. The Consolidated Financial Statements and the Management Discussion and Analysis thereof are available on SEDAR at www.sedar.com About Eguana Technologies Inc. Based in Calgary, Alberta Canada, Eguana Technologies Inc. (EGT: TSX.V) (OTCQB: EGTYF) designs and manufactures high performance residential and commercial energy storage systems. Eguana has two decades of experience delivering grid edge power electronics for fuel cell, photovoltaic and battery applications, and delivers proven, durable, high quality solutions from its high capacity manufacturing facilities in Europe and North America. With thousands of its proprietary energy storage inverters deployed in the European and North American markets, Eguana is one of the leading suppliers of power controls for solar self-consumption, grid services and demand charge applications at the grid edge. To learn more, visit www.EguanaTech.com or follow us on Twitter @EguanaTech Company Inquiries Justin HollandCEO, Eguana Technologies Inc.+1.416.728.7635Justin.Holland@EguanaTech.com Forward Looking Information The reader is advised that some of the information herein may constitute forward-looking statements within the meaning assigned by National Instruments 51-102 and other relevant securities legislation. In particular, we include: statements pertaining to the value of our power controls to the energy storage market and statements concerning the use of proceeds and the Company's ability to obtain necessary approvals from the TSX Venture Exchange. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Many factors could cause the Company's actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. Readers are also directed to the Risk Factors section of the Company’s most recent audited Financial Statements which may be found on its website or at sedar.com. The Company does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CALGARY, Alberta, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Eguana Technologies Inc. (“Eguana” or the “Company”) (TSX.V: EGT) (OTCQB: EGTYF) will post its financial results for the first quarter of 2021 after close of market on March 1, 2021. Eguana management will host a conference call on Monday March 1st, at 5:00 p.m. eastern time (EST) to discuss the quarter results, provide a business update, and hold a live question and answer period. Registration in advance is required. CONFERENCE CALL DETAILS Date: March 1, 2021Time: 5:00 PM ESTTelephone Access:Canada:+1 438 809 7799 or +1 587 328 1099 or +1 647 374 4685 or +1 647 558 0588 or +1 778 907 2071 or 1-855-703-8985US:+1 253 215 8782 or +1 301 715 8592 or +1 312 626 6799 or +1 346 248 7799 or +1 646 558 8656 or +1 669 900 9128 or 1-877-853-5257 To Register in Advance:https://zoom.us/meeting/register/tJcrf-GorjwuEtDPReqeAN5WPZ7LRXC8fKh8 To Access the Virtual Meeting:The URL for the Virtual Meeting will be provided to Shareholders who register using the link provided above. Meeting ID: 936 8800 7484 Meeting Password: 133181 About Eguana Technologies Inc. Based in Calgary, Alberta Canada, Eguana Technologies (EGT: TSX.V) (OTCQB: EGTYF) designs and manufactures high performance residential and commercial energy storage systems. Eguana has two decades of experience delivering grid edge power electronics for fuel cell, photovoltaic and battery applications, and delivers proven, durable, high quality solutions from its high capacity manufacturing facilities in Europe and North America and Australia. With thousands of its proprietary energy storage inverters deployed in the European and North American markets, Eguana is one of the leading suppliers of power controls for solar self-consumption, grid services and demand charge applications at the grid edge. To learn more, visit www.EguanaTech.com or follow us on Twitter @EguanaTech Company InquiriesJustin HollandCEO, Eguana Technologies Inc.+1.416.728.7635Justin.Holland@EguanaTech.com Forward Looking StatementsCertain information in this news release constitutes forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within the meaning of Canadian securities laws, and is subject to numerous risks, uncertainties and assumptions, many of which are beyond the Company's control. This forward-looking information includes, among other things, information with respect to: the Debentures and the Conversion and the expected effects thereof; TSXV approval of the Debt Settlement and the Outstanding Debentures. Agreements and issuance of the Accrued Interest Shares to the Electing Holders. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect”, “intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward- looking information include, among others: the value of the total Debentures outstanding on the Conversion Date; the number of Common Shares issued by the Company as a result of the Conversion; the amount of interest payments that would have been payable if the outstanding Debentures were held until maturity; the TSXV may not approve the Debt Settlement Agreements and issuance of the Accrued Interest Shares to the Electing Holders; the Company may not force the conversion of the Outstanding Debentures into Common Shares and the uncertainty surrounding the spread of COVID-19 and the impact it will have on the Company’s operations and economic activity in general, and the risks and uncertainties discussed in our most recent annual and quarterly reports filed with the Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com, which risks and uncertainties are incorporated herein by reference. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, the Company does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements contained in this news release represent the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/All monetary amounts are expressed in Canadian Dollars, unless otherwise indicated. 25, 2021 /CNW/ - Eguana Technologies Inc.