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Taiga Motors Corporation (T:TAIG)

Business Focus: Recreational Products (NEC)

Sector:  Consumer Cyclicals Industry:  Recreational Products
 
Company Contact
Address: 2695 Dollard Ave
MONTREAL QC H8N 2J8
Tel: 1-416-3338374
Website: https://ir.taigamotors.ca
IR: See website
Key People
Samuel Bruneau
Chief Executive Officer, Co-Founder, Director
Eric Bussieres
Chief Financial Officer
Douglas Braswell
Vice President - Electrification Operations
Mike Jelinek
Vice President - Supply Chain
Anne Plamondon
General Counsel, Corporate Secretary
 
Business Overview
Taiga Motors Corporation is a Canada-based company, which is reinventing the powersports landscape with electric off-road vehicles. The Company is focused on research and development, design, production, marketing and distribution of all-electric powersport vehicles. The first models released include a lineup of electric snowmobiles and personal watercraft to deliver to recreational and commercial customers. The Company has developed electric snowmobiles and personal watercraft vehicles. It completed deliveries of 145 vehicles, which consisted of 43 Orca Carbons personal watercraft and 102 Nomad snowmobiles to customers in Canada and the United States. Its Montreal headquarters contain its two leased facilities totaling approximately 180,000 square feet. The Company is developing its Montreal facility.
Financial Overview
For the nine months ended 30 September 2023, Taiga Motors Corp revenues increased from C$1.8M to C$10M. Net loss increased 41% to C$50.3M. Revenues reflect Research and development segment increase from C$141K to C$8.3M. Higher net loss reflects General and administration increase of 59% to C$13.6M (expense), Finance costs on loans and borrowing increase from C$23K to C$3.1M (expense).
Employees: 269 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $10.72M as of Sep 30, 2023
Annual revenue (TTM): $11.39M as of Sep 30, 2023
EBITDA (TTM): -$63.21M as of Sep 30, 2023
Net annual income (TTM): -$74.13M as of Sep 30, 2023
Free cash flow (TTM): -$72.70M as of Sep 30, 2023
Net Debt Last Fiscal Year: $46.03M as of Sep 30, 2023
Shares outstanding: 31,825,712 as of Sep 30, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization