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Triterras slumps 26% after H1 earnings report

  • Triterras (OTCPK:TRIRF) H1 shows a 15.3% surge in topline revenue to $26.3M.
  • Net loss of $21.6M, or EPS of $0.28. Net loss includes a $14.4M trade and loan receivables impairment and a $2M non-cash charge on an increase in the fair value of warrant liabilities.
  • Adjusted EBITDA loss of $19.1M vs. profit of $4.1M last year.
  • $33.9M in cash and cash equivalents and a working capital surplus of $77.8M.
  • Company expects an operating loss for H2 and longer term focus remains a steady recovery of profitability and cash generation of the business and we would hope to reestablish a run rate of operating income profitability during the fiscal year ending February 29, 2024.
  • SA states that the stock is at a high risk of performing badly due to decelerating momentum and negative EPS revisions.
  • Previously: Triterras Fintech GAAP EPS of -$0.28, revenue of $26.4M (Nov. 30)
  • Stock down 26% after the reports.