exactEarth Announces Q3 Fiscal 2021 Financial Results and Agreement to be Acquired by Spire Global
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exactEarth™ Ltd. |
Interim Condensed Consolidated Statements of Loss and Comprehensive Loss |
(in thousands of Canadian dollars except for per share figures) |
(unaudited) |
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Three months ended |
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Nine months ended |
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July 31, |
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July 31, |
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July 31, |
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July 31, |
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2021 |
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2020 |
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2021 |
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2020 |
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$ |
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$ |
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$ |
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$ |
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Revenue |
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6,022 |
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4,789 |
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17,262 |
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13,329 |
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Cost of revenue |
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2,917 |
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3,005 |
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8,439 |
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8,048 |
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Gross profit |
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3,105 |
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1,784 |
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8,823 |
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5,281 |
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Selling, general and administrative |
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3,014 |
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1,617 |
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7,688 |
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5,957 |
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Product development and research and development |
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258 |
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116 |
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|
781 |
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628 |
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Depreciation and amortization |
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170 |
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178 |
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525 |
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|
669 |
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(Recovery) loss on disposal |
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- |
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(13 |
) |
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- |
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|
825 |
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Loss from operations |
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(337 |
) |
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(114 |
) |
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(171 |
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(2,798 |
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Other expenses |
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Other expense |
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9 |
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- |
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36 |
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- |
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Foreign exchange (gain) loss |
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(137 |
) |
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(71 |
) |
|
507 |
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(189 |
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Share of equity investment loss |
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- |
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450 |
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- |
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450 |
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Interest income |
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(17 |
) |
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(13 |
) |
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(43 |
) |
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(67 |
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Interest expense |
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57 |
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461 |
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|
703 |
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1,321 |
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Total other expenses |
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(88 |
) |
|
827 |
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1,203 |
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1,515 |
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Income tax expense |
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- |
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- |
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|
109 |
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|
119 |
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Net loss |
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(249 |
) |
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(941 |
) |
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(1,483 |
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(4,432 |
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Other comprehensive loss |
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Item that may be subsequently reclassified to net loss: |
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Foreign currency translation, net of income tax expense of nil |
(50 |
) |
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(53 |
) |
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(3 |
) |
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(117 |
) |
Total other comprehensive loss |
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(50 |
) |
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(53 |
) |
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(3 |
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(117 |
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Comprehensive loss |
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(299 |
) |
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(994 |
) |
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(1,486 |
) |
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(4,549 |
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Loss per share |
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Basic and diluted loss per share |
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(0.00 |
) |
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(0.04 |
) |
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(0.03 |
) |
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(0.20 |
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