From GlobeNewswire: 2024-11-26 07:00:00

Questor Technology Inc. released financial results for Q3 2024, showing revenue of $1.1 million and gross profit of $383,574. Adjusted EBITDA was -$256,475, and loss for the period was -$589,599. Working capital as of Sept. 30, 2024, was $6.3 million. The company is focusing on global markets to reduce emissions and secure $2.7 million in equipment sales.

Gross profit as a percentage of revenue for Q3 2024 was 34%, down from 26% in 2023. Adjusted EBITDA for Q3 2024 was -$0.3 million, a decrease from -$0.1 million in 2023. Questor continues to have a strong financial position with cash, short-term investments, and working capital.

During Q3 2024, Questor secured purchase orders totaling $2.7 million in Nigeria and Libya. Construction of a waste heat to power unit is ongoing, with testing expected to be completed in Q4 2024. The company also initiated a Normal-course issuer bid to repurchase common shares.

Questor’s President highlights the global interest in emission reduction technologies. Methane emissions are a focus for climate change mitigation efforts, with the company’s solutions playing a key role. Partnerships in India, Middle East, North Africa, and Latin America aim to accelerate adoption of Questor’s products for net zero goals.

Forward-looking statements in the news release outline the company’s business objectives, growth expectations, and financial results. Questor Technology Inc. is a Canadian environmental emissions reduction technology company, traded on the TSX Venture Exchange under the symbol “QST.” The company focuses on clean air technologies and emission reduction solutions.



Read more at GlobeNewswire:: Questor Announces Third Quarter Results