Exro Technologies Inc. (T:EXRO)
Business Focus: Electrical Components & Equipment (NEC)
| Sector: Industrials | Industry: Electrical Components & Equipment |
| Company Contact | |
| Address: | 12-21 Highfield Circle SE CALGARY AB T2G 5N6 |
| Tel: | N/A |
| Website: | https://www.exro.com |
| IR: | See website |
| Key People | ||
| Sue Ozdemir Chief Executive Officer, Director | John Meekison Chief Financial Officer | Brian Van Batavia President, Exro Vehicle Systems |
| Simon Strawbridge Chief Operating Officer | Eric Hustedt Chief Technology Officer | Darrell Bishop Chief Investment Officer |
| Raymond Millien Vice President - Legal, Corporate Secretary | Spyros Gorgogiannis Chief Engineering Officer | Josh Sobil Chief Commercial Officer |
| Business Overview |
| Exro Technologies Inc. is a clean technology company. The Company is engaged in developing power control electronics that expand the capabilities of electric motors and batteries. Its technologies include e-mobility (Coil Driver) and stationary energy storage (Cell Driver). The Coil Drive technology is an adaptive traction inverter that replaces the standard 3-phase inverter in electric vehicles. Utilizing its patented coil switching technology, the Coil Driver enables the motor to dynamically switch between two modes, series mode optimized for high torque at low speeds, and parallel mode optimized for high power and efficiency at high speeds. The Cell Driver technology is a fully integrated energy storage system designed for commercial and industrial applications. Its SEA-Drive power system provides a complete e-propulsion solution to original equipment manufacturers. It encompasses everything from high-capacity batteries and electric motors to next-generation control units. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Exro Technologies Inc revenues increased from C$2.2M to C$5.7M. Net loss increased 26% to C$50.6M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Research and development increase of 46% to C$12.8M (expense), Payroll and consulting increase of 21% to C$16.7M (expense). |
| Employees: | 151 as of Apr 1, 2024 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $220.76M as of Dec 31, 2023 |
| Annual revenue (TTM): | $5.74M as of Dec 31, 2023 |
| EBITDA (TTM): | -$40.53M as of Dec 31, 2023 |
| Net annual income (TTM): | -$50.62M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$51.44M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $12.70M as of Dec 31, 2023 |
| Shares outstanding: | 316,575,019 as of Apr 5, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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