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Hamilton Thorne (HTL) investor relations material

Hamilton Thorne Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 earnings summary13 Nov, 2024

Executive summary

  • Report covers the three and nine months ended September 30, 2024, with all figures in US dollars.

  • Principal business is development, manufacture, and sale of precision instruments, consumables, software, and services for ART, research, and cell biology markets.

  • Operations are global, with sales in Americas (25%), EMEA (60%), and Asia/Pacific (15%) for the nine months ended September 30, 2024.

  • No single customer accounted for more than 10% of revenues in the period.

Financial highlights

  • Sales for Q3 2024 were $19.4M, up from $15.7M in Q3 2023; nine-month sales were $57.9M, up from $48.8M year-over-year.

  • Gross profit for Q3 2024 was $9.6M (49.5% margin), compared to $7.7M (49.0%) in Q3 2023.

  • Net loss for Q3 2024 was $1.18M, compared to a net loss of $0.79M in Q3 2023; nine-month net loss was $2.63M, compared to $1.15M in 2023.

  • Adjusted for foreign currency translation, comprehensive loss for the nine months was $1.87M.

  • Basic and diluted loss per share was $0.01 for Q3 2024 and $0.02 for the nine months ended September 30, 2024.

Outlook and guidance

  • Transaction to be acquired by Astorg-managed vehicle at CAD $2.25 per share, with closing expected November 30, 2024.

  • Company shares to be delisted from TSX and cease to be a reporting issuer post-transaction.

  • Astorg intends to combine Hamilton Thorne with Cook ART following completion of both acquisitions.

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Frequently asked questions

Hamilton Thorne is a leading provider of precision instruments, consumables, software and services to the Assisted Reproductive Technologies (ART) and developmental biology research markets. It sells its products and services to infertility clinics, university research centers, large animal breeding facilities, pharmaceutical firms, biotechnology companies and other commercial and academic research establishments. The company provides novel solutions for Life Science that reduce cost, increase productivity improve results and enable rapid progress in scientific research from basic biology through translational research.

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