Sector: Technology | Industry: Software |
Company Contact | |
Address: | 435 10th Avenue SE CALGARY AB T2G 0W3 |
Tel: | N/A |
Website: | https://www.acceleware.com |
IR: | See website |
Key People | ||
Geoff Clark Chief Executive Officer, Director | Tracy Grierson Chief Financial Officer | Michael Tourigny Chief Operating Officer | Michal Okoniewski Chief Scientific Officer, Director |
Business Overview |
Acceleware Ltd. is a Canada-based company that develops clean-tech decarbonization technologies. The Company has two business units: Radio Frequency Heating Technology and Seismic Imaging Software. Its segments include High-Performance Computing (HPC) and RF Heating. Its HPC segment sells proprietary high-performance computing software and related consulting services and training programs primarily to the oil and gas industry. The RF Heating segment is engaged in research, development, and commercialization activities related to the Company's proprietary enhanced heavy oil and oil sands production technology. It is focused on developing RF XL, a patented low-carbon production technology for heavy oil and oil sands. Its RF XL technology eliminates greenhouse gas (GHG) emissions associated with heavy oil and oil sands production. Its seismic imaging software solutions are for high fidelity imaging, providing the advanced imaging available for oil exploration in complex geologies. |
Financial Overview |
For the fiscal year ended 31 December 2023, Acceleware Ltd revenues decreased 15% to C$279K. Net loss decreased 60% to C$2M. Revenues reflect RF Heating segment decrease of 34% to C$77K, HPC segment decrease of 5% to C$202K, Canada segment decrease of 38% to C$72K, USA segment decrease of 2% to C$207K. Lower net loss reflects RF Heating segment loss decrease of 61% to C$1.9M, HPC segment loss decrease of 91% to C$22K. |
Employees: | 15 as of Dec 31, 2023 |
Reporting Currency: | Canadian Dollars |
Enterprise value: | $19.53M as of Dec 31, 2023 |
Annual revenue (TTM): | $0.28M as of Dec 31, 2023 |
EBITDA (TTM): | -$1.92M as of Dec 31, 2023 |
Net annual income (TTM): | -$2.05M as of Dec 31, 2023 |
Free cash flow (TTM): | -$0.74M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $1.77M as of Dec 31, 2023 |
Shares outstanding: | 118,376,043 as of Dec 31, 2023 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |