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EnWave (ENW) investor relations material
EnWave Planet MicroCap Showcase: TORONTO 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Business overview and technology
Commercializes proprietary vacuum-microwave dehydration technology for food, cannabis, and pharmaceuticals, with over 50 commercial partners globally.
Recently completed CAD 3 million financing to build machine inventory, anticipating increased demand through fiscal 2026.
Holds 18 patents worldwide, protecting machinery design and processing protocols, with additional patents filed and coverage extending into the 2040s.
Technology offers faster processing, lower energy use, and better product quality compared to freeze-drying, validated by third-party data.
Diverse applications include fruit, vegetables, dairy, meat, pet food, and cannabis, with installations in 24 countries and ongoing expansion.
Financial performance and revenue model
Revenue streams include machine sales (about 30% gross margin) and royalties (2–5% of partner revenue or per unit produced), with toll manufacturing as a supplementary source.
Fiscal 2024 royalties were just under CAD 2 million; fiscal 2025 is expected to show growth in both royalties and machine sales.
Fiscal 2025 saw sales of four large-scale and eight small-scale machines, reaching break-even with annual expenses of CAD 4.5–5 million.
Fiscal 2026 targets at least six large-scale and four to six small-scale machine sales, aiming for positive EBITDA.
Royalty revenue is expected to grow as more machines are installed and utilization increases, improving overall margins.
Strategic initiatives and market expansion
Focus on expanding royalty portfolio and increasing free cash flow, with potential shareholder rewards via dividends or buybacks.
Active business development in Europe, Gulf region, and South America, supported by new hires and increased trade show participation.
Sales cycle for new partners has shortened to about three months, with most new orders now coming from existing partners.
Pet food and cannabis sectors identified as growth opportunities, with fiscal 2026 expected to be a breakout year for pet food.
Ongoing support and innovation for partners, including co-manufacturing and product development assistance, to drive adoption and royalty growth.
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