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Exro Technologies Reports Third Quarter 2024 Financial Results

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2 years ago

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Delivered 74 e-propulsion systems to blue-chip OEM customers, a 106% increase over Q2 2024 and a new quarterly record.Record quarterly revenue of $11.0 million, a 108% increase over Q2 2024.Recognized cumulative annual business cost-savings of more than US$15 million  in cost savings.Announced the completion of a public offering for proceeds of $25 million.Announced Stellantis N.V. as its automotive passenger vehicle OEM partner, lifting a more than year-long nondisclosure agreement.Management will host a conference call for analysts today at 6:00 p.m. ET.

CALGARY, AB, Nov. 13, 2024 /CNW/ – Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the “Company” or “Exro”), a leading clean-technology company that provides proprietary motor-control and complete electric propulsion system technology for e-mobility, today announced its financial results for the third quarter ended September 30, 2024.

Highlights

Record revenue: Exro achieved record revenue of $11.0 million in Q3 2024 with the delivery of 74 propulsion system units, an increase from $5.3 million in Q2 2024.Path to profitability. To date the Company has achieved more than US$15 million in cost savings, having recognized operational efficiencies, including a reduction in headcount by approximately 35% in the last six months. Additionally, the Company continues to drive down costs related to the bill of materials of its e-propulsion system having recognized more than 18% savings with visibility to an additional 20% by the end of Q2 2025.Technology performance. In on-road pilots in collaboration with Giaffone for an industry-leading beverage company in Brazil, a fully loaded 17-tonne commercial electric delivery vehicle equipped with Exro’s Coil Driver® successfully navigated an 18% grade at speed.

“We are pleased with our progress in Q3 and momentum heading into Q4,” said Exro CEO Sue Ozdemir. “We achieved key milestones on a number of fronts including units shipped, cost reduction in both our design and cost structure, as well as negotiated a strategic partnership which will accelerate our growth trajectory. We remain focused on driving profitability through execution by the end of next year.”

Exro is well-positioned to meet the evolving needs of the EV market. With industry-leading technology, consistent growth in deliveries to blue-chip OEM customers, and a strong focus on profitability, the Company is set to penetrate the commercial truck market and build on its Q3 success.

Given the decline in the Exro’s share price from April 5, 2024 through the end of Q3, combined with the lower than forecasted outlook from April,  the Company was obligated to complete an impairment test which resulted in a write-down of all goodwill and a portion of intangibles related to the SEA Electric acquisition. This is a non-cash adjustment to the carrying value of these assets.

Conference Call Information

Management will host a quarterly earnings conference call for analysts and investors at 6:00 p.m. Eastern time / 3:00 p.m. Pacific time today, Wednesday, November 13, 2024. Details below:

Toll-Free Dial-In Number: 800-445-7795
Conference ID: EXROQ3

The condensed consolidated interim financial statements and Management’s Discussion and Analysis for the quarter ended September 30, 2024, are available at www.exro.com/investors and on SEDAR+ under Exro Technologies Inc. at www.sedarplus.ca.

ABOUT EXRO TECHNOLOGIES INC.

Exro Technologies Inc. is a leading clean technology company that has developed new generation power control electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies serve to bridge the performance-cost gap in e-mobility (Exro Coil Driver®) and stationary energy storage (Exro Cell Driver®), and act to accelerate adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. 

For more information visit our website at www.exro.com.

To view our Corporate Presentation visit us at www.exro.com/investors

Visit us on social media @exrotech.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company’s annual information form for the financial year ended December 31, 2022, and financial statements and related MD&A for the financial year ended December 31, 2022, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.

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SOURCE Exro Technologies Inc.

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Club Offers for Travel Enthusiasts in the UK

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54 minutes ago

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November 8, 2026

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LONDON, Nov. 7, 2026 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO), the club for travel enthusiasts, announces four of many new Club Offers for Club Members in the UK.

Rigorously vetted and negotiated for us travel enthusiasts:

£420PP—DELUXE TUSCANY BREAK WITH DINNER & COOKING CLASS
Hotel Villa Il Patriarca sits in extensive grounds, surrounded by mature pine and cypress trees. This offer includes three nights in a Junior Suite, a 6-course dining experience at Michelin-listed I Salotti, a cooking class with the chef, and wine tasting. We have negotiated savings of £373 per couple in spring and summer.
  £200PP—2 NIGHTS AT NEW CORNWALL HOTEL
Travelzoo Club Members are invited to be the first guests at this new hotel when it opens in January. Elysium St Mawes in the Cornish village of St Mawes has been completely redesigned. We have negotiated savings of 50% on regular rates. Includes two nights, champagne, cream tea, and a session in the thermal spa.
  £199PP—FRENCH RIVIERA WITH FLIGHTS
Winter in Cannes means fewer crowds, golden light, and mild weather. This special rate is just for us Club Members—three nights at the Juliana Hotel Cannes in a balcony room, a stone’s throw from the famous Boulevard de la Croisette. Includes return flights.
  £99PP—TOP WEST END SHOW WITH DINNER
“Miss Saigon” returns to the West End for the first time since 2016. Tickets usually cost £99 per person but, with this offer, we also get a 2-course meal and drink at Gaucho Piccadilly before the show.

Are you a travel enthusiast? Join the club today: https://travelzoo.com

Who are we?
We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travellers. Club Members receive Club Offers negotiated and rigorously vetted by our deal experts around the globe. Our relationships with thousands of top travel companies give us access to irresistible deals. Our club and its benefits are built around the lifestyle of a modern travel enthusiast.

Media Contact: 
Cat Jordan – London
+44 77 7678 1525
cjordan@travelzoo.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/club-offers-for-travel-enthusiasts-in-the-uk-302932597.html

SOURCE Travelzoo

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Dynamic Pricing Raises New Questions for Forwarders Evaluating Automated Freight Quoting

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55 minutes ago

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November 8, 2026

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As freight forwarders adopt AI freight quoting software, Aircon founder Chris Condon says buyers should measure more than response speed. He urges teams evaluating freight quote automation software to count total operator time, including review and correction, and to check how quotes hold up when shipment details change.

LEWISVILLE, Texas, Nov. 7, 2026 /PRNewswire-PRWeb/ — As more freight forwarders adopt AI freight quoting software to keep pace with shifting rates, a practical question is emerging: how much of the time saved is later spent checking and fixing what the software produces? Chris Condon, founder and CEO of Aircon, says buyers evaluating freight quote automation software should look at dynamic pricing alongside the work required to turn a supplier’s rate into a customer commitment. His comments follow G2’s 2026 AI Agents Report, updated October 14, which examines the operating costs of reviewing and correcting automated work.

“A higher rate can still be the right choice if it supports the required service,” Condon said. “What matters is knowing what the price includes, which conditions apply and what still has to be confirmed before the customer relies on the answer.”

“Think about a hotel when a major concert comes to town,” Condon said. “Demand goes up, there are only so many rooms, and prices can rise. Freight responds to supply and demand too. The forwarder’s job is to work out whether the available price and service meet the customer’s need.”

Freight pricing reflects more than demand. Costs, contract terms, and shipment requirements all shape the final number. A changing rate tells the forwarder something about one particular option… building a customer offer still requires checking service conditions, outstanding confirmations, and the forwarder’s own commercial rules.

That verification step is where automated freight quoting is put to the test. Condon refers to it as decision assurance: organizing the inputs and evidence behind a proposed commitment, flagging open questions, and keeping a record of the decision, while the forwarder retains judgment and the customer relationship.

“A higher rate can still be the right choice if it supports the required service,” Condon said. “What matters is knowing what the price includes, which conditions apply and what still has to be confirmed before the customer relies on the answer.”

G2’s report draws on a July survey of 1,019 business technology decisionmakers across industries. Forty-five percent of respondents said oversight and rework consume more than a quarter of their expected productivity gains. The findings are self-reported and cover enterprise AI adoption broadly; the report is not specific to freight.

For teams comparing freight quoting software for forwarders, Condon suggests looking beyond response speed. He recommends measuring total operator time, including review and correction, and asking how any freight quote management software handles changes to shipment details…and whether a second operator can understand the conditions behind an earlier quote.

“The practical standard is to give the team time back and keep the judgment behind the customer commitment clear,” Condon said.

About Aircon:

Aircon provides decision-assurance software for freight forwarders, supporting the review that takes place before a quote becomes a customer commitment. It preserves inputs, evidence, and decision state within the forwarder’s existing workflow, while the forwarder retains the customer relationship and commercial judgment.

Media Contact

Chris Condon, Aircon, 1 (855) 750-4560, ccondon@aircon.ai, https://www.aircon.ai

View original content:https://www.prweb.com/releases/dynamic-pricing-raises-new-questions-for-forwarders-evaluating-automated-freight-quoting-302931757.html

SOURCE Aircon

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DataLogix AI Launches Workplace Video Resources for Businesses Exploring AI and Robotics Training

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4 hours ago

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November 7, 2026

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New calculator, business owner guide and inquiry form help companies assess workplace video alongside existing business records.

UNION, N.J., Nov. 7, 2026 /PRNewswire-PRWeb/ — DataLogix AI, a division of Trailblaze Solutions LLC, has launched online resources to help business owners explore first-person workplace video for AI and robotics training. The new resources include a workplace-video overview, an adjustable revenue calculator, a business owner guide and an inquiry form for discussing potential fit.

The launch adds a second starting point alongside DataLogix AI’s existing focus on licensing business records. Owners can compare written operating history, such as internal email, chat, tickets and project records, with newly recorded footage showing the hands, tools and steps involved in approved physical tasks. Businesses with both types of activity can explore each separately.

The workplace-video resources describe possible tasks in areas including warehousing, maintenance, construction, production and vehicle service. These examples are discussion starting points, not confirmed eligible categories. The guidance asks owners to review participant consent, recording permissions, safety, equipment and footage acceptance criteria before beginning.

The calculator models a four-week scenario using the number of participating workers, accepted recording hours per worker and an assumed payment rate. Owners can optionally enter employee compensation and other business costs. All figures are illustrative. The calculator does not establish an offered rate, forecast earnings or determine eligibility, and a result after entered deductions is not net profit.

The accompanying guide explains how the two opportunities differ in preparation, rights and economics. It includes questions about who may approve participation, what can be recorded or licensed, who may receive the material and how payment would be determined. Owners can review the resources without uploading company records or workplace footage.

Businesses interested in learning more can use the inquiry form to describe their company and the opportunity they would like to discuss. An inquiry is not enrollment, recording permission or a payment offer. Program availability, equipment and commercial terms require separate confirmation, and payment may be zero.

Explore the new resources at https://datalogix.ai/data-opportunities.

About DataLogix AI

DataLogix AI is a division of Trailblaze Solutions LLC based in Union, New Jersey. It helps business owners explore data opportunities through educational resources, illustrative calculators and business-level inquiries. DataLogix AI is not a data buyer, law firm or financial adviser.

Media Contact

Mark Lowenstein, DataLogix AI, 1 8887875358, press@datalogix.ai, https://datalogix.ai/

View original content:https://www.prweb.com/releases/datalogix-ai-launches-workplace-video-resources-for-businesses-exploring-ai-and-robotics-training-302931763.html

SOURCE DataLogix AI

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