Q3 2019 Financial Summary
- Revenue of approximately $1.4 million, representing increases of approximately 40% sequentially and 27% from the same period in the prior year. The revenue increase in the third quarter of 2019 was primarily driven by record shipments of the Company’s data center solutions;
- Gross margin1 as a percentage of revenue was approximately 59%, representing increases of approximately 4% from the prior quarter and approximately 9% from the same period in the prior year;
- Non-IFRS operating expenses were $2.5 million, approximately flat from the prior quarter and the same period in the prior year. Non-IFRS operating expenses have remained flat due to strict expense controls while the Company has continued to invest in the data center product line; and
- EBITDA2 loss of approximately $1.4 million during the quarter compared to a loss of approximately $1.6 million in the prior quarter and a $0.3 million improvement from the same period in the prior year.