EnWave Corporation (NWVCF) Q3 2023 Earnings Call Transcript


EnWave Corporation (OTCPK:NWVCF) Q3 2023 Earnings Conference Call August 25, 2023 10:00 AM ET

Company Participants

Brent Charleton – President and Chief Executive Officer

Dylan Murray – Chief Financial Officer

Operator

Good morning, and welcome to EnWave Corporation’s Q3 2023 Earnings Conference Call. My name is Kevin, and I’ll be your operator for today’s call.

Joining us for today’s presentation are the company’s President and CEO, Brent Charleton; and Dylan Murray, EnWave CFO.

As a reminder, all participants are in a listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask a question. [Operator Instructions] Finally, I’d like to remind everyone that this call will be made available for replay via a link in the Investor Relations section of the company’s website at www.enwave.net.

Now, I’ll turn the call over to EnWave’s CEO, Mr. Brent Charleton. Sir, please proceed.

Brent Charleton

Thanks very much, and greetings to all who have joined us today to discuss EnWave Corporation’s Q3 performance and future outlook.

Now, consistent with our past quarterly earnings calls, the information we will present today contains forward-looking information that is based on our management’s expectations, estimates and projections. Our statements are not a guarantee of future performance and involve a number of risks, uncertainties and assumptions. Please consider the risk factors in the filings made by EnWave on SEDAR when reviewing this information.

Also, all amounts discussed will be in Canadian dollars, unless otherwise noted.

After a very good Q2, EnWave’s Q3 was down, pursuant to lower revenues due to less large-scale machine builds and less-than-expected new machine sales contracted within the time period. We are hyper-aware that our business can be lumpy, hence our expense reductions and thoughtful resource allocation have allowed for us to improve our cash position. Our cash position of $4.47 million at



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