What are your thought on the Q and the decision to build more production? Seems to be liked, perhaps because of how it is being funded.
Also, I have read talk of filings not being done on time, is this true?
Thanks!
For the fourth quarter, EPS missed estimates of 42c coming in at a loss of (11c). Revenue also missed estimates of $141.5M coming in at $91.61M, but this was impacted by a $40.2M adjustment. Adjusted EBITDA for the quarter was $41.9M and the company stated it views this measure as the 'best indication of profitability' given that this was its first full year of production. SGML did announce the delay in numerous annual filings. The company stated that the delay is due to the additional audit procedures required because of the initiation of commercial production in early 2023 and the ensuing hybrid reporting of non-operating and operating quarters. The decision to double production of its Quintuple Zero Green Lithium is positive and the fact that the related CAPEX is essentially entirely internally funded makes the news even better. The Board of Directors also approved the initiation of construction of a second line of its Greentech Industrial Plant. While results were OK for the quarter largely missing expectations, the news of the increased production facilites outweighted this and we view it quite positively.