NanoXplore has reported its first quarter 2025 financial results.
The Company revenue was CA$33.7 million (around US$24,220,000), up 16% from 1Q 2024. Net loss was CA$2.72 million (around US$1,950,000) - loss narrowed by 27% from 1Q 2024. The Company expects total revenues of between CA$140 million (over US$100,600,000) and CA$155 million (around US$111,400,000) for the year ending June 30, 2025.
Pedro Azevedo, Chief Financial Officer, stated: “Our fiscal year is off to a solid start. Sales growth in low double-digits, adjusted margins continuing to expand and a higher adjusted EBITDA. This year will see NanoXplore adding to its manufacturing capacity in order sell more graphene-enhanced materials to our customers, continue to execute on our 5-year strategic plan while working with several existing and new partners on commercial uses of graphene. For the year, we are expecting solid year-over-year growth as uses of graphene continue to expand despite some uncertainty related to our largest customer’s activity.”
Soroush Nazarpour, President & Chief Executive Officer, stated: “We’re pleased with our performance at the start of the year, despite some hesitancy in demand from certain customers in the transportation sector due to labor strikes and relatively elevated inventory levels. Nonetheless, demand for our Advanced Materials, Plastics, and Composite Products continues to be strong, as reflected in our robust organic revenue growth this quarter. We are prioritizing direct graphene powder sales due to their higher gross margins compared to graphene-enhanced compounds and composite products. We're also encouraged by the progress in various end markets for graphene powder, particularly in drilling fluid and foam applications. Our balance sheet remains strong, and we continue to uphold our leadership in graphene-enhanced solutions.”