LeddarTech announced Q3 2024 financial results, showing increased revenue and gross profit but a net loss.

From GlobeNewswire: 2024-08-14 21:11:00

LeddarTech Holdings Inc. announced financial results for Q3 2024, with revenue totaling $1.4 million and a gross profit of $537,435. The company saw an increase in operating expenses to $10.9 million, leading to a net loss of $7.5 million. LeddarTech also secured $9.0 million in bridge debt financing to meet near-term obligations.

LeddarTech continues to make progress with OEM and Tier 1 automotive customers, improving software maturity and extending feature performance with key partners like Arm and Texas Instruments. Recent business highlights include signing agreements with European automotive engineering providers, responding to customer RFQ/RFIs, and collaborating with major technology partners.

LeddarTech has seen growth in revenue from ADAS software services, reaching $370,691 compared to $67,570 a year ago. The company’s financial performance in Q3 2024 includes a gross profit of $537,435, operating expenses of $10.9 million, and a net loss of $7.5 million. Additionally, LeddarTech has secured $9.0 million in bridge debt financing to meet short-term obligations.

The company will be demonstrating its automotive software technology at various industry events, including Autosens Europe and CES 2025. LeddarTech’s LeddarVision software continues to lead in fusion and perception technology for ADAS and AD applications, showcasing improvements like vehicle detection at long distances and reduced false alarms. The company remains focused on innovation and collaboration within the automotive industry.



Read more at GlobeNewswire:: LeddarTech Reports F3Q24 Results