Simply Solventless (TSXV: HASH) this morning issued guidance for its fourth quarter financial results, with the company indicating that it expects to hit report quarterly revenue for the quarter.
Topline revenue for the fourth quarter is estimated at $11.8 million, versus the $7.8 million reported for the third quarter of 2024, which implies growth of 64% on a quarter over quarter basis. The growth notably follows the acquisition of ANC, which closed early in the fourth quarter.
Adjusted EBITDA meanwhile is guided to be $3.1 million, versus $1.0 million in the third quarter, while normalized net income has been guided to come in at $3.0 million, with net income estimated at $2.9 million. As a result, Simply Solventless is guiding that the fourth quarter will be the tenth quarter in a row with positive adjusted EBITDA, and the eighth quarter in a row of positive normalized net income.
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On an annualized basis, 2024 is expected to post revenue of $47.2 million, with adjusted EBITDA of $11.0 million. Normalized net income is estimated at $10.4 million, with net income of $11.6 million.
Simply Solventless last traded at $0.475 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
