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CubicFarm Systems Corp. (V:CUB)

Business Focus: Agriculture Support Services

Sector:  Consumer Non-Cyclicals Industry:  Fishing & Farming
Company Contact
Address: 7170 Glover Road, Null
Tel: N/A
IR: See website
Key People
John de Jonge
Interim Chief Executive Officer, President of HydroGreen, Inc
Carlos Yam
Chief Financial Officer
Business Overview
CubicFarm Systems Corp. is a Canada-based local chain agricultural technology company. The Company provides automated on-site commercial scale food and livestock feed technologies through research and development, manufacture, and sale of hydroponic growing systems. The Company operates through two segments: Feed Division and Fresh Division. The Feed Division segment operates using the Company's HydroGreen technology for growing nutritious livestock feed. The Company's Fresh Division segment operates using the CubicFarm System, which contains CubicFarms technology for growing leafy greens and other crops. The HydroGreen System performs various growing functions, including seeding, watering, lighting, harvesting, and re-seeding. The CubicFarm System grows leafy greens, herbs, and microgreens. Its subsidiaries include CubicFarm Manufacturing Corp., CubicFarm Innovation Corp., CubicFarm Services Corp., CubicFarm Produce (Canada) Corp. and CubicFarm Capital Corp., among others.
Financial Overview
For the nine months ended 30 September 2023, CubicFarm Systems Corp revenues increased 11% to C$3.8M. Net loss decreased 64% to C$10.9M. Revenues reflect Fresh segment increase of 13% to C$3.6M. Lower net loss reflects Research and development decrease of 80% to C$1.8M (expense), General and administrative expenses decrease of 50% to C$6M (expense). Basic Earnings per Share excluding Extraordinary Items increased from -C$0.17 to -C$0.05.
Employees: 49 as of May 2, 2023
Reporting Currency: Canadian Dollars
Enterprise value: $19.80M as of Sep 30, 2023
Annual revenue (TTM): $4.01M as of Sep 30, 2023
EBITDA (TTM): -$20.39M as of Sep 30, 2023
Net annual income (TTM): -$40.74M as of Sep 30, 2023
Free cash flow (TTM): -$9.76M as of Sep 30, 2023
Net Debt Last Fiscal Year: $15.52M as of Sep 30, 2023
Shares outstanding: 39,489,571 as of Jun 24, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization