NanoXplore reported its financial results for Q3 2023. Total revenues were $28.9 million CAD, up 6% from last year. The net loss was $448,000 (compared to a loss of $1.97 million last year). The company's cash and equivalents at the end of the quarter was $39.5 million CAD. NanoXplore expects its revenues for the year ending June 30, 2024 to reach $130 million.
In September 2023 NanoXplore announced new business representing over $17 Million in annual sales. The company says its graphene initiatives are steadily growing and it is "well positioned to deliver the returns our shareholders are expecting from us". NanoXplore's graphene enhanced composite light weighting solutions are gaining momentum, and more OEMs are interested in its products.
