Ad blocking detected

Thank you for visiting We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

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
Tel: N/A
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 Canada-based clean technology company. It is focused on developing power control electronics that expand the capabilities of electric motors and batteries. Its technologies include Coil Driver and Cell Driver. Coil Driver 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. Cell Driver is a fully integrated energy storage system designed for commercial and industrial applications. Equipped with its proprietary Battery Control System, the Cell Driver actively manages battery cells based on their state-of-health and state-of-charge to optimize operation, safety, and extend lifetime. It also offers end-to-end electric vehicle consulting and engineering services.
Financial Overview
For the nine months ended 30 September 2023, Exro Technologies Inc revenues increased from C$378K to C$4.8M. Net loss increased 17% to C$31.9M. 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 36% to C$8.4M (expense), Payroll and consulting fees increase of 21% to C$12.2M (expense).
Employees: 129 as of Mar 30, 2023
Reporting Currency: Canadian Dollars
Enterprise value: $232.86M as of Sep 30, 2023
Annual revenue (TTM): $6.61M as of Sep 30, 2023
EBITDA (TTM): -$37.55M as of Sep 30, 2023
Net annual income (TTM): -$44.73M as of Sep 30, 2023
Free cash flow (TTM): -$47.62M as of Sep 30, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 168,950,203 as of Oct 18, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization