From GlobeNewswire: 2024-04-10 18:18:00

CEMATRIX Corporation reported record financial results for the quarter and year ending December 31, 2023, with a record revenue of $19.6 million in the fourth quarter, a 136% increase from 2022. The company achieved a record adjusted EBITDA of $4.9 million for the year, representing a substantial improvement compared to the previous year.

CEMATRIX attributed its strong financial performance to the efforts of its sales and sales support teams, which drove market acceptance for cellular concrete products. The company’s backlog increased to $94.9 million as of December 31, 2023. Quarterly revenue grew to $19.6 million in the fourth quarter, resulting in positive adjusted EBITDA of $2.9 million.

In 2023, CEMATRIX experienced an 85% increase in revenue, reaching $53.3 million, up from $29.0 million in 2022. The company improved its gross margins, leading to positive adjusted EBITDA and cashflow from operations. The team’s hard work and dedication were key to achieving these results, as stated by CEO Jeff Kendrick.

CEMATRIX granted 1,200,000 incentive stock options and 1,071,851 restricted stock units to directors, officers, and employees. This move aligns with the company’s Omnibus Equity Incentive Compensation Plan. With these new grants, CEMATRIX will have a total of 7,139,405 options and RSUs outstanding, representing 5.3% of its issued shares.

Management will host a webinar on April 11, 2024, discussing the company’s fourth-quarter and year-end financial results, corporate updates, and a Q&A session. Interested parties can register in advance for the webinar via the provided Zoom link. CEMATRIX, known for its cellular concrete products, has continued to expand its market presence and achieve significant financial milestones in 2023.



Read more at GlobeNewswire:: CEMATRIX Announces Record Fourth Quarter & Full Year 2023