CubicFarm Systems Corp. (T:CUB)
Business Focus: Agriculture Support Services
| Sector: Consumer Non-Cyclicals | Industry: Fishing & Farming |
| Company Contact | |
| Address: | 7170 Glover Road, Null LANGLEY BC V2Y 2R1 |
| Tel: | N/A |
| Website: | https://cubicfarms.com |
| IR: | See website |
| Key People | ||
| Daniel A. Burns Chairman of the Board | 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: | $17.32M 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: | 263,163,774 as of Sep 30, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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