Finance

ALUULA Reports First Quarter 2025 Financial Results

Published

1 year ago

March 26, 2025

ALUULA Reports First Quarter 2025 Financial Results

Victoria, British Columbia–(Newsfile Corp. – March 26, 2025) – ALUULA Composites .Inc. (TSXV: AUUA) (“ALUULA” or the “Company“) today reported its financial results for the three-month period ended January 31, 2025 (“Q1 2025“). All currency amounts noted are in Canadian dollars.

Building on momentum gained in fiscal 2024, the Company announces progression against strategic initiatives in Q1 2025. These initiatives include: closing an oversubscribed rights offering for gross proceeds of $2,506,156, realizing continued customer diversification, reporting gross margins at the top end of expectation, progressing against the expansion of manufacturing capabilities at a wider width and continuing to professionalize and strengthen the team.

The first quarter of 2025 saw a decrease in sales for ALUULA driven by the challenges that remain for the windsport market, which the Company believes can be attributed to post-pandemic inventory overstocking. While the windsport vertical market, as the first market entered, has underpinned the Company’s historical growth, and remains an important area for ALUULA, the Company believes that future growth opportunities will be driven by markets that have both higher growth rates and larger total addressable markets.

“Our Q1 2025 results underpinned the necessity of commercial diversification for ALUULA. The Company has been focused on bringing our unique composite textiles into new markets and essential to this is that we have the team required to execute our go to market strategies. This requires both driving revenue and ensuring we can deliver the quality products to support that revenue,” said Sage Berryman, President & CEO.

Berryman added, “With this, we are pleased to announce that Sven Sandahl is joining ALUULA as Chief Commercial Officer to help drive commercial and brand value. We are also pleased to welcome Peter Reid who is joining as Director of Manufacturing and Materials Engineering to help the continual improvement in our manufacturing process and quality of products. 2025 is a key year for ALUULA as we move from our internally focused execution to being more active in driving the growth of the business.”

As a seasoned entrepreneur and executive passionate about sustainability, Sven Sandahl has held many leadership roles in performance outdoor companies focused on circularity. Recently Sven helped launch ReJu, an international textile recycling company, as well as Cake, Karun World and Houdini Sportswear amongst others. He also has deep experience in building brand value and driving growth for ingredient brands including Cohesive, MIPS AB in their essential pre-IPO growth phase (where he advanced the uptake and understanding of this important helmet safety technology) and RECCO Systems Inc. Sven and his team will be responsible for leading the evolution of ALUULA’s brand and partner relations, helping to drive the growth for the business.

Peter Reid is a professional engineer who brings extensive experience in composites and materials engineering. Having worked in leadership roles at a number of companies including Mustang Survival and Arc’teryx, he and his team will work closely with the Company’s research and development team with a focus on the continuous improvement of ALUULA’s products and processes.

Key Q1 2025 Highlights

Sales: the Company progressed against its customer diversification goals by:
- Reducing sales concentration with the windsport vertical market from 89% in Q1 2024 to 80% in Q1 2025.
- Increasing the number of customers ordering material in prototype size batches by 10% in Q1 2025 compared to Q1 2025 with 95% of these orders came from non-windsport customers in Q1 2025 vs. 61% in Q1 2024.
- The importance of the Company’s initiative to diversify its customer base was highlighted in Q1 2025 as sales decreased by 37% to $1,261,529 from $1,997,279 in Q1 2024. This decrease was primarily due to the windsport vertical market which continues to recover from post pandemic overstocking issues that has altered customer ordering patterns.
Gross Margins: the Company reported gross margins of 45% in Q1 2025, which is at the top end of its expected range. Q1 2025 gross margins were consistent with Q1 2024.
Operating expenses were $819,530 in Q1 2025 compared to $683,032 in Q1 2024 representing a quarter over quarter increase of $136,498. The increase is primarily due to higher salaries and research & development costs as the Company invests in recruiting key hires and expanding manufacturing capabilities to a wider width, both of which are key to achieving its growth objectives.
Net and comprehensive loss from Ocean Rodeo’s discontinued operations was $5,395 in Q1 2025 compared to a net and comprehensive loss of $346,557 in Q1 2024 representing a quarter over quarter decrease of $341,162. This decrease is a direct result of cost cutting measures implemented in April 2024 after the decision was made to discontinue Ocean Rodeo’s operations.
Increase in cash and cash equivalents: the Company reported an increase in cash and cash equivalents of $2,061,967 in Q1 2025 compared to $412,459 in Q1 2024. The increase in cash and cash equivalents is due to the Company’s successful completion of an oversubscribed rights offering and sale of non-core assets which will provide sufficient working capital to execute on the fiscal 2025 plan.

Outlook

The Company continues to work with its growing list of brand partners, developing products that are lighter, stronger, and recycle-ready. These partnerships are built on the mutual understanding that performance and circularity can be synonymous in the outdoor industry and beyond. The products that are born from these partnerships work to change the industry for the better.

The windsports and performance outdoor categories are still the core drivers of ALUULA’s growth as more new companies move from concept into commercialization launching new ALUULA enabled products in these areas. Collaborative research and development programs with other industrial partners, such as Michelin Inflatable Solutions and AirSeas, continue to advance the materials’ development as these opportunities move closer to commercial viability.

Product innovation, strength, weight, and circularity are key areas of focus for ALUULA and its brand partners. Focusing on these areas, as well as continued improvements to the patented manufacturing process, will continue to improve efficiencies and profitability. The Company continues to focus on stabilizing the corporate foundation to enable a strong base for future sales pipeline, revenue and gross margin growth.

Financial Statements and Management’s Discussion and Analysis

This earnings press release should be read in conjunction with ALUULA’s unaudited interim condensed consolidated financial statements for the three months ended January 31, 2025 and the related management discussion and analysis, which can be found on ALUULA’s website and its issuer profile on the System for Electronic Document Analysis and Retrieval Plus at www.sedarplus.ca.

About ALUULA Composites

ALUULA is an ultra-light, high performance and recycle-ready composite materials brand that enhances the performance of outdoor gear. Proudly owned and manufactured on the Canadian west coast, ALUULA’s innovation is driven by a deep understanding that equipment does not need to sacrifice performance for sustainability. ALUULA’s materials are known for their unique construction capabilities and their ability to make products lighter, stronger, and more sustainable.

aluula.com | (TSXV: AUUA)

On behalf of the Board of Directors,
Sage Berryman
Chief Executive Officer
1-888-724-2470

For ALUULA investor inquiries, please contact:

1-888-724-2470, ext. 4
IR@aluula.com

For ALUULA media relations, please contact:

media@aluula.com

ALUULA’s Brand Partners

The term “brand partners” does not refer to formal partnerships with our customers. The term refers to marketing relationships with our customers who use ALUULA’s technology as a brand ingredient in their products.

TSX Venture Exchange

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans, and prospects that constitute forward-looking statements, including, but not limited to: use of proceeds from the rights offering; the Company’s list of brand partners growing; the Company’s advancement of its materials development; and improved efficiencies and profitability. These statements are based on assumptions subject to significant risks and uncertainties as described in the Company’s management discussion and analysis. Because of these risks and uncertainties and as a result of a variety of factors, including the timing and receipt of all applicable regulatory, corporate third-party approvals, the actual results, expectations, achievements, or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246224

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Finance

Anne Arundel County Launches New Finance and Procurement Platform

Published

2 hours ago

June 25, 2026

Press Room

Anne Arundel County Launches New Finance and Procurement Platform

Anne Arundel County is preparing to launch a new finance and e-procurement system to modernize county operations and improve how businesses interact with local government.

The new platform, called Harbor, is scheduled to go live in July and will replace the County’s legacy procurement system with a centralized cloud-based platform built on Oracle Fusion Cloud.

County officials say the new system is designed to streamline procurement and financial processes while making it easier for both existing and prospective vendors to do business with the County.

From the press release:

“Harbor is a much-needed upgrade that will streamline services for our county agencies and those who do business with the county,” said Anne Arundel County Chief Administrative Officer Christine Anderson.

The platform will serve as a single portal for supplier registration, bid opportunities, invoicing, payment tracking, and contract management, consolidating what had previously been spread across multiple systems. County leaders say the transition is part of a broader effort to modernize operations, improve efficiency, and lower barriers for businesses seeking to compete for county contracts.

For counties, procurement modernization remains an important operational priority as local governments look to improve transparency, strengthen vendor engagement, and simplify access for businesses of all sizes. Anne Arundel County has encouraged interested suppliers to review training materials and registration information ahead of the July launch.

Finance

Quadient Recognized as a Leader in the 2026 SPARK Matrix for Accounts Receivable Applications

Published

13 hours ago

June 25, 2026

Press Room

QUADIENT

Quadient demonstrates continued innovation in AI-driven invoice-to-cash automation and unified finance operations

Paris

Quadient (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, announced today it has been recognized for the fifth consecutive year as a Leader in the 2026 SPARK Matrix™ for Accounts Receivable Applications by technology analyst and advisory firm QKS Group. Quadient strengthened its position in the report year-over-year, with a notable improvement in Technology Excellence, reflecting continued innovation in its AI-driven invoice-to-cash solution.

According to QKS Group, Quadient’s leadership position highlights its evolution into a comprehensive, AI-powered platform that delivers strong predictive accuracy and straight-through processing. The analyst firm also emphasized the capability of Quadient’s solutions to unify accounts receivable (AR) and accounts payable (AP), offering finance leaders greater visibility and insights into their business finances to make faster, better decisions on working capital management.

Earlier this month, Quadient announced the release of its new cash dashboard capability for AR and AP that allows finance teams to bring together traditionally siloed data in a single view. An AI assistant summarizes key metrics and provides analysis that helps finance leaders accelerate cash on hand, improve forecasting, reduce risk and uncover opportunities to optimize working capital.

“Quadient has established a strong position in the 2026 Accounts Receivable Automation market through its focus on intelligent automation, cash flow optimization and integrated financial operations,” said Sanjeevi C R, associate vice president, Enterprise Research at QKS Group. “The platform’s evolution from predictive analytics to AI-driven autonomous collections execution represents a meaningful step forward in reducing manual effort across the invoice-to-cash cycle. What differentiates Quadient is its ability to combine collections management, cash application, and payment processing with a unified accounts receivable and accounts payable ecosystem, providing finance leaders with a more holistic view of working capital performance. By enabling greater automation, enhanced cash flow visibility, and more efficient receivables operations, Quadient continues to deliver measurable value for organizations seeking to modernize their financial processes and improve liquidity management.”

QKS Group highlighted the following key strengths for Quadient AR:

Finance

G7 Recommits to Development, Investment Finance to Drive Shared Prosperity

Published

23 hours ago

June 24, 2026

Press Room

G7 Recommits to Development, Investment Finance to Drive Shared Prosperity

In a message of “convergence and unity in response to multiple crises,” the Group of 7 (G7) leaders from Canada, France, Germany, Italy, Japan, the UK, and the US, together with the EU, have agreed to foster mutually beneficial international partnerships.

The G7 Leaders’ Summit took place in Évia