NanoXplore has reported its financial results for the three-month and six-month periods ended December 31, 2024, citing total revenues of CAD$33,120,886 (around USD$23,165,000) in Q2-2025 compared to $29,063,024 (around USD$20,300,000) in Q2-2024, representing a 14% increase.
Loss stood at CAD$2,894,922 (about USD$2,000,000) in Q2-2025 compared to $2,428,388 (about USD$1,700,000) in Q2-2024 and total long-term debt of $5,452,604 (almost USD$3,800,000) at December 31, 2024, down by $893,899 (USD$625,000) compared to June 30, 2024.
Pedro Azevedo, Chief Financial Officer, stated: “Our second quarter continued the solid start to the year with mid-double digit sales growth, continued adjusted gross margin expansion driving a higher adjusted EBITDA, and demonstrating the underlying strength of the business. With the risk of tariffs in the backdrop since the US election and especially given the events of last week, the decision to increase our US manufacturing presence was the right one. During the past quarter, we have selected the new site and expect to begin production in late summer which will contribute to incremental sales.”
Soroush Nazarpour, President & Chief Executive Officer, stated: “Our second quarter results show our ability to perform and execute in a quickly evolving macro environment. We continue to build the company for the long term with a focus on creating value for all stakeholders. In the quarter we have made significant inroads in two key growth segments for our graphene products namely drilling fluid and insulation foam. We are finalizing plans for our large scale dry-processed graphene pilot plant in our Montreal facility with production planed by the end of 2025. Finally, our US expansion is well underway and could not be timelier given the specter of tariffs. Our financial situation is strong and gives us the agility to execute our near-term growth plans as well as on our 5-year strategic plan.”
