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EMERGE Reports Strong Q3 2024 Results

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GMS Growth Accelerates to 10%. 2nd Consecutive Quarter of Positive Organic Revenue Growth. Improved Profitability.

TORONTO, Nov. 28, 2024 /CNW/ – EMERGE Commerce Ltd. (TSXV: ECOM) (“EMERGE” or the “Company”) today announced results for its three months ended September 30, 2024. Copies of the interim financial statements and MD&A are available on the Company’s profile on SEDAR at www.sedar.com.

Q3 2024 Financial Highlights

Q3 GMS1 accelerated by 10% to $7.4M compared to $6.8M in Q3 2023Q3 Revenue increased by 5% to $4.6M compared to $4.4M in Q3 2023. Excluding Carnivore Club, a brand that is actively eliminating loss-making revenue, EMERGE revenue growth was 8%, driven by truLOCAL and the golf businessQ3 Gross Profit increased by 6% to $1.8M compared to $1.7M in Q3 2023Q3 Gross Margin improved to 39.3% compared to 38.9% in Q3 2023Q3 Adjusted EBITDA1 improved to $(0.28M) compared to $(0.56M) in Q3 2023Q3 Net loss from Continuing Operations improved to $(0.74M) compared to $(0.78M)Cash on hand at September 30, 2024 was $1.6M

Ghassan Halazon, Founder and CEO, EMERGE commented, “Despite Q3 historically being our most seasonal quarter of the year, GMS, the sales volume transacted across our sites, accelerated to 10% growth YoY, our highest growth rate all year. We achieved our second consecutive quarter of positive organic revenue growth. Both truLOCAL and our golf brands, UnderPar and JustGolfStuff, achieved improved YoY results, combining for 8% organic revenue growth. Once again, we delivered materially improved metrics, including YoY growth in revenue, gross profit, and Adjusted EBITDA. EMERGE 2.0, the centralized strategy we shifted to earlier this year, whereby EMERGE management directly operates and optimizes a more focused set of brands, rather than oversees middle management on a decentralized basis across a variety of verticals, is continuing to yield encouraging results, as demonstrated by our topline acceleration and improved bottom line year-to-date. Special thanks to our resilient and determined team, Board, shareholders and trusted partners as we deliver another growth quarter, and look to build on this momentum in the final quarter of the year.”

Outlook

Q4 and the peak holiday shopping season is generally EMERGE’s strongest quarter of the year overall. The Company continues to execute towards a return-to-growth plan in 2024, with a substantially improved profitability profile and reduced overall debt levels.

In Q3 and early Q4, EMERGE actioned certain cost reductions in relation to the Company’s more streamlined strategy that amount to approximately $500,000 annually. These savings will partially be reflected in Q4, and fully be reflected in Q1 2025 onwards.

In addition, the recent interest rate cuts, as well as the highly anticipated upcoming rate reductions, are expected to result in meaningful cash savings for the business.

Top Priorities

The Company’s top priorities in the near-term are to i) continue to drive organic growth, ii) extract further operational efficiencies to drive profitability, and iii) opportunistically explore avenues to enhance cash flow and reduce interest expense.

Conference Call

Management will host a conference call on Thursday, November 28 at 9:00 am ET to discuss its third quarter results. To access the conference call, please dial (416) 945-7677 or (888) 699-1199 and provide conference ID 79080.

Alternatively, the conference call can be accessed online at: https://app.webinar.net/37Ao90x9G2v

Selected Financial Highlights

The tables below set out selected financial information and should be read in conjunction with the Company’s consolidated financial statements and MD&A for the three months ended September 30, 2024, which are available on SEDAR.

Three months
ended
September 30,

Three months
ended
September 30,

Nine months

ended
September 30,

Nine months
ended
September 30,

2024

$

2023

$

2024

$

2023

$

Gross Merchandise Sales1

7,417,799

6,762,633

23,492,832

22,379,499

Total revenue

4,596,215

4,371,920

14,799,166

14,443,430

Adjusted EBITDA1

(280,639)

(557,915)

(453,155)

(1,429,638)

Net (loss) income from continuing operations

(738,887)

(777,173)

(1,392,808)

(4,945,075)

Net (loss) income2

(730,186)

349,497

(793,568)

(3,735,037)

Basic and diluted (loss) per share from
continuing operations

(0.01)

(0.01)

(0.01)

(0.05)

1 Non-GAAP Financial Measure. Refer to section “Non-GAAP Financial Measures” for additional information.

Results from WholesalePet, BattlBox, and WagJag have been reclassified to discontinued operations.

The following table highlights Adjusted EBITDA and a reconciliation of the Company’s reported results to its adjusted measures:

Three months
ended
September 30,

Three months
ended
September 30,

Nine months
ended
September 30,

Nine months
ended
September 30,

2024

$

2023

$

2024

$

2023

$

Net (loss) income

(730,186)

349,497

(793,568)

(3,735,037)

Add back:

Finance costs

267,209

860,946

1,066,372

2,778,346

Income taxes

(184,585)

(672,531)

(318,963)

(1,439,578)

Amortization

48,809

478,941

167,999

2,066,115

EBITDA

(598,753)

1,016,853

121,840

(330,154)

Share-based compensation

71,357

28,167

125,992

143,731

Transaction cost

42

63,487

101,631

267,544

Foreign exchange and other losses (gains)

255,416

(539,752)

(203,378)

2,512

Fair value change in contingent
consideration

(303,233)

Net loss (income) from discontinued
operations

(8,701)

(1,126,670)

(599,240)

(1,210,038)

Adjusted EBITDA

(280,639)

(557,915)

(453,155)

(1,429,638)

The following table highlights GMS and a reconciliation of the Company’s reported results to its adjusted measures:

Three months
ended
September 30,

Three months
ended
September 30,

Nine months
ended
September 30,

Nine months
ended
September 30,

2024

$

2023

$

2024

$

2023

$

Revenue

4,596,215

4,371,920

14,799,166

14,443,430

Adjusted for:

Merchant costs deducted from net revenue

3,047,845

2,478,336

9,412,272

8,475,791

Sales added to deferred revenue and value
of orders fulfilled not included in revenue

1,731,705

1,339,824

5,524,555

4,654,201

Deferred and other adjustments to revenue
recognized

(1,863,899)

(1,356,220)

(5,899,238)

(5,105,459)

Advertising revenue

(94,067)

(71,227)

(343,923)

(88,464)

GMS

7,417,799

6,762,633

23,492,832

22,379,499

About EMERGE

EMERGE (TSXV: ECOM) is a premium e-commerce brand portfolio in Canada and the U.S. Our subscription and marketplace e-commerce properties provide our members with access to unique offerings across grocery and golf verticals. Our grocery businesses include truLOCAL.ca, our premium meat subscription brand, and Carnivore Club, our artisanal meat brand. Our golf businesses include UnderPar, our discounted experiences brand, and JustGolfStuff, our golf products & apparel brand.

To learn more visit https://www.emerge-commerce.com/

Follow EMERGE:
LinkedIn | Twitter | Instagram | Facebook 

Cautionary notice

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Non-GAAP Measures

This press release makes reference to certain non-GAAP measures. These non-GAAP measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing a further understanding of results of operations from management’s perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the financial information of the Company reported under IFRS. Gross Merchandise Sales (“GMS”), EBITDA, and Adjusted EBITDA should not be construed as alternatives to revenue or net income/loss determined in accordance with IFRS. GMS, EBITDA and Adjusted EBITDA do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers.

GMS as defined by management is the total dollar value of customer purchases of goods and services, excluding applicable taxes and net of discounts and refunds. Management believes GMS provides a useful measure for the dollar volume of e-commerce transactions made through our platforms and an indicator for our business performance.

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) and Adjusted EBITDA as defined by management means earnings before interest and financing costs, income taxes, depreciation and amortization, transaction costs, foreign exchange gains/losses, discontinued operations, unrealized gains/losses on contingent consideration and share-based compensation. Management believes that Adjusted EBITDA is a useful measure because it provides information about the operating and financial performance of EMERGE and its ability to generate ongoing operating cash flow to fund future working capital needs and fund future capital expenditures or acquisitions.

A reconciliation of the adjusted measures is included in the Company’s management discussion & analysis for the twelve months ended December 31, 2023 in the section “Non-GAAP Financial Measures” available through SEDAR at www.sedar.com.

Notice regarding forward-looking statements

This press release may contain certain forward-looking information and statements (“forward-looking information”) within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information.  Actual results and developments may differ materially from those contemplated by these statements.  The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable).  Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including the risk factors discussed in the Company’s MD&A, Prospectus Supplement and Annual Information Form and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

On Behalf of the Board
Ghassan Halazon
Director, President and CEO

SOURCE Emerge Commerce Ltd.

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SiMa.ai Wins Edge AI + Vision Alliance 2026 Product of the Year for Modalix SoM

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SAN JOSE, Calif., April 20, 2026 /PRNewswire/ — SiMa.ai, a leader in Physical AI, today announced it has been named the winner of the “Best Edge AI Board” by the Edge AI + Vision Alliance’s 2026 Product of the Year Awards — recognizing breakthrough innovation where machine intelligence meets real-world applications. 

“We are moving from passive edge to Physical AI — where machines reason and act autonomously in the real world. Being recognized by the Edge AI and Vision Alliance affirms what SiMa.ai was founded to deliver: high performance without the power drain, and a true platform for this transition. Our purpose-built Modalix MLSoC, paired with Palette, our software suite, addresses the full spectrum of use cases — from computer vision to reasoning-based analytics. Combined with our deep partner collaboration, we are enabling customers across industries to get to market faster and more efficiently,” said Durga Peddireddy, Vice President of Product Management & Partnerships, SiMa.ai.

This recognition builds on the momentum of SiMa.ai’s Modalix™ MLSoC System-on-Module (SoM), launched in 2025. Modalix powers generative AI (GenAI), computer vision, and machine learning (ML) inference at the edge, combining Arm-based compute, advanced vision processing, and high-bandwidth I/O into a single, low-power module designed for power-constrained environments. 

Physical AI deployments often face significant hurdles, including high power consumption, thermal limits, and the need for expensive hardware redesigns. The Modalix platform addresses these challenges by allowing customers to modernize existing systems quickly, bringing powerful AI closer to the data source without requiring a total infrastructure overhaul.

By enabling advanced perception, multimodal reasoning, and real-time decision-making directly on-device, the platform eliminates the need for high-power GPU hardware. This efficiency unlocks scalable deployments across industrial automation, robotics, and intelligent video applications.

The Edge AI + Vision Alliance brings together leading multinational companies and emerging innovators, connecting thousands of technical professionals across the industry. As the winner of the “Best Edge AI Board” category for the 2026 Product of the Year Awards, SiMa.ai is recognized for Modalix’s ability to deliver efficient, high-performance Physical AI at the edge in under 10W.

About SiMa.ai
SiMa.ai is a leader in Physical AI, delivering a purpose-built, software-centric platform that brings best-in-class performance, power efficiency, and ease of use to Physical AI applications. Focused on scaling Physical AI across robotics, automotive, industrial automation, aerospace & defense, smart vision, and healthcare, SiMa.ai is led by seasoned technologists and backed by top-tier investors. Headquartered in San Jose, California. Learn more at www.sima.ai.

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SOURCE SiMa.ai

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Critical Minerals Standards: ANSI Launches Initiative to Strengthen U.S. Supply Chains and Request for Information

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New initiative maps the standards landscape, convenes stakeholders, and builds toward a national strategy

NEW YORK, April 20, 2026 /PRNewswire/ — The American National Standards Institute (ANSI) is launching a multi-phase initiative to strengthen U.S. coordination on critical minerals standards — the shared rules and benchmarks that help ensure minerals are sourced responsibly, supply chains remain secure, and American industry stays competitive globally. This initiative moves forward thanks to the U.S. Department of Energy’s Advanced Mining and Mineral Production Technologies Office, whose partnership made it possible to act on one of the nation’s most pressing industrial priorities. It directly responds to U.S. government priorities to secure domestic supply chains and reduce dependence on foreign sources of critical minerals. 

This effort brings together U.S. stakeholders to coordinate national standards priorities, positioning American industry and government to contribute meaningfully to the success of the G7 Critical Minerals Standards Roadmap while harnessing the momentum of the current administration’s focus on supply chain resilience and domestic competitiveness.

The initiative includes a standards landscape assessment, a webinar series, a two-day hybrid workshop, and a summary report with recommended next steps. A call for webinar speakers and a request for information for the standards landscape is open.

Why This Matters

Critical minerals are foundational to national defense, clean energy, advanced electronics, manufacturing, and infrastructure. Yet as global demand rises, the U.S. faces real risks: fragmented efforts at home, supply chain vulnerabilities, and growing urgency to align on the international rules that govern how these materials are sourced, processed, and traded.

Standards bring order to that complexity. They promote transparency and traceability across supply chains, help U.S. companies access global markets, and give the public and private sectors a common framework for investment. Without a coordinated approach, the U.S. risks ceding influence to competitors who are already moving.

What the Initiative Includes

ANSI connects the organizations that develop standards with the industries that rely on them. To accelerate U.S. leadership on critical minerals, ANSI will deliver:

A standards landscape assessment that maps the current state of play: which standards exist, which organizations develop them, where work is underway, and where gaps remain. The assessment will cover the full supply chain — from extraction through processing, manufacturing, and recovery — and consolidate prior mapping efforts into a single, accessible resource. A Request for Information (RFI) is open.A webinar series to raise awareness of existing standards and regulatory activities related to critical minerals, including a dedicated session for U.S. government stakeholders. Briefings will feature standards developers working across the supply chain. Speakers invited and registration is open.A two-day hybrid workshop convening federal agencies, standards organizations, and industry to identify high-priority needs, explore challenges, and inform the development of a U.S. critical minerals standards strategy this September in the Washington, DC area. A summary report will capture key findings, gaps, and recommended next steps.

Ongoing Coordination

ANSI also convenes a quarterly U.S. ISO Critical Minerals Standards Coordination Group for members of U.S. delegations to ISO Technical Committees. The group serves as a forum to share information, coordinate engagement, and align international standards activities. The next meeting is April 24 — registration is now open.

About ANSI

The American National Standards Institute (ANSI) is a private non-profit organization whose mission is to enhance both the global competitiveness of U.S. business and the U.S. quality of life by promoting and facilitating voluntary consensus standards and conformity assessment systems, and safeguarding their integrity. Its membership is comprised of businesses, professional societies and trade associations, standards developers, government agencies, and consumer and labor organizations.

The Institute represents and serves the diverse interests of more than 270,000 companies and organizations and 30 million professionals worldwide. ANSI is the official U.S. representative to the International Organization for Standardization (ISO) and, via the U.S. National Committee, the International Electrotechnical Commission (IEC). For more information, visit www.ansi.org and access the latest news and content on LinkedIn, X, and Facebook.

View original content to download multimedia:https://www.prnewswire.com/news-releases/critical-minerals-standards-ansi-launches-initiative-to-strengthen-us-supply-chains-and-request-for-information-302747670.html

SOURCE American National Standards Institute

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Bobby Lehew Named commonsku’s Chief AI Officer — an Industry First in Promo

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TORONTO, April 20, 2026 /CNW/ – commonsku, the connected workflow platform trusted by 950+ distributors driving $1.9 billion in network volume, today announced the creation of a dedicated AI + Strategy role, promoting Bobby Lehew to Chief AI Officer to lead the company’s AI initiative for customers and the platform. The move makes commonsku the first platform in the promotional products industry to invest at the leadership level in AI strategy shaped directly by distributor needs.

The new role bridges the gap between what AI can do and what commonsku’s customers need it to solve, owning the intelligence loop between customers, product, and the AI landscape. What makes the role distinct: it combines AI landscape intelligence, product strategy influence, direct customer engagement, and industry thought leadership in a single role.

A Natural Evolution

Lehew brings more than 30 years of experience in the promotional products industry to the role. Prior to joining commonsku, he was the CEO of Robyn Promotions, a company among the first wave of distributors who architected the model of technology driven e-commerce company stores in the industry, earning three consecutive Inc. 5000 rankings. Always tech-forward in his work, his industry recognition includes multiple Gold and Silver PPAI Pyramid Awards.

The shift to AI strategy is a natural next chapter for Lehew. At commonsku, he built the company’s content engine from scratch — co-hosting the skucast (350+ episodes, the #1 promotional products podcast) while leaning heavily into AI for all his work. He is editor of The AI Promo Brief, the industry’s go-to resource for AI developments in promotional products, and speaks frequently on the future of merch and the cultural shifts transforming how we sell. At PPAI Expo 2026, his AI session packed the room to capacity and was named a must-attend session by PPAI editors. The industry has been watching Lehew move deeper into AI for over a year. This role makes it official.

Investing in AI for Customers

“The industry is at an inflection point with AI, and distributors need a partner who understands their business,” said Catherine Graham, CEO of commonsku. “commonsku has always been built ‘by promo, for promo.’ Bobby has three decades of that expertise, a passion for helping our customers, and the strategic insight to shape AI tools for future growth. This role reflects our mission: making sure our AI tools solve real problems for real distributors.”

“The companies pulling ahead are the ones leading with customer intelligence – letting what they learn from their community shape what they build and advancing with the frontier of AI development. That’s what this role is designed to do. I’ll be talking with our customers at every level about AI and making sure the features we build make work smarter, drive growth, and eliminate friction.” said Lehew.

“Bobby and I have been creative partners for years, always pushing each other to see around corners for this industry,” said Mark Graham, President of commonsku. “We’ve launched multiple projects together and helped educate and raise the standard for what the future distributor can look like. This role is a natural evolution of that passion. He deeply understands the industry and the distributor’s pain points, and he sees with us an incredible opportunity with AI. We’re thrilled to build commonsku’s AI future together.”

commonsku’s AI investments are already in motion. The skubot Mockup Generator is in beta with Advanced and Enterprise customers, a new Opportunity Agent is entering beta as an AI-powered business intelligence tool, and the company’s immediate roadmap includes a Description Rewriter, Auto-Art Configuration, and a Presentation Generator with much more to come.

About commonsku

commonsku is the workflow platform of choice for the promotional products industry. Built by industry experts, it combines CRM, order management, and social collaboration tools in one cloud-based solution. Over 950 distributors and the industry’s largest suppliers rely on commonsku to power $1.9 billion in network volume. With commonsku, teams process more orders, work more efficiently, and grow their sales faster. Learn more at www.commonsku.com.

SOURCE commonsku

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