From GlobeNewswire: 2024-04-30 17:01:00

Water Ways Technologies Inc. announces the filing of its Annual Financial Statements and Management Discussion and Analysis for the year ended December 31, 2023. The Company saw a decline in sales to CAD$8.9M compared to CAD$14.1M in 2022, resulting in a net loss of CAD$4.9M. Net cash used in operating activities was CAD$1.9M for 2023.

CEO Ohad Haber mentioned a shift in business focus to North America in 2023. The company reported CAD$8.9M in sales in 2023, down from CAD$14.1M in 2022. Net loss for the year was CAD$4.9M, compared to a profit of CAD$2.7M the previous year. Cash and cash equivalents reduced to CAD$264K from CAD$1.35M.

Water Ways Technologies Inc. is a global provider of Israeli-based agriculture technology, specializing in water irrigation solutions for agricultural producers. The company’s main revenue streams come from Projects Business Unit and Component and Equipment Sales Unit, with a focus on micro and precision irrigation.Operations include vineyards, cotton fields, cannabis growers, and more in over fifteen countries.

Forward-Looking Statements in the press release caution that actual results may differ from forward-looking information due to risks, uncertainties, and assumptions. Water Ways Technologies does not assume responsibility for the accuracy or completeness of the forward-looking information. All figures mentioned in the article are in Canadian dollars unless stated otherwise.



Read more at GlobeNewswire:: Water Ways Reports 2023 Financial Results