- Revenue for the first nine months of the year reached $6.6 million, 35 percent higher than the same period last year
- Q3 revenue also reached a new record level of $2.4 million
- In 2019, Kontrol Energy plans to put emphasis on U.S. market smart technology propagation, accretive and strategic acquisitions and acceleration of recurring SaaS revenue
In the nine months ended in September 2018, Kontrol Energy Corp. (CSE: KNR) (OTC: OTSHF) (FSE: 1K8) saw an increase in revenue of 35 percent on an annual basis. The revenue for the first nine months of the year was $6.6 million (in comparison to $4.9 million for the same period of 2017) and the quarterly revenue for Q3 also reached record levels of $2.4 million (in comparison to $2.2 million in September 2017).
This information was presented during a Kontrol Energy announcement about the company’s financial performance over the third quarter of the year (http://nnw.fm/d5N50). A leader in the energy efficiency sector, Kontrol Energy specializes in the integration of smart energy technologies for commercial and industrial property owners in North America.
In less than two years, the company’s revenue run rate has grown from $1.8 million to $16 million, Kontrol Energy CEO Paul Ghezzi said in a news release. Additional acquisitions and the expansion of smart energy technologies will provide further opportunities for growth in 2019, Ghezzi added.
“Kontrol is delivering on our stated goals and objectives and we seek to continue our strong growth through further accretive acquisitions and the expansion of our smart energy technologies. In 2019 we anticipate being cash flow positive based on our current run rate of $16 million in revenue. We have delivered robust growth while maintaining a very tight share structure with approximately 28 million shares outstanding,” he explained.
The company reported a gross profit margin of 67 percent for Q3 and the nine months ended in September. The outlook for Q4 is approximately $4 million in revenue on the basis of the existing order book.
Numerous key accomplishments through Q3 and the first nine months of 2018 have enabled the company’s stable growth. On September 13, Kontrol Energy was ranked seventh in the 2018 Startup 50 ranking of Canada’s Top Net Growth Companies. In addition, the company has finalized several acquisitions while also expanding orders. On September 20, Kontrol announced the finalization of the CEM Specialties Inc. acquisition. CEM Specialties is an Ontario-based emission integrator that generated approximately $6 million in annual revenue during the most recent fiscal year.
Kontrol has also received two major orders totaling over $2 million and two new contracts with licensed producers in the cannabis sector. The aim of Kontrol’s cannabis solutions is to provide energy efficiency and emission compliance solutions, both of which are important to LPs.
In 2019, Kontrol Energy will be putting emphasis on several strategic initiatives. The most important ones include expansion of smart energy technologies to the U.S. market, the addition of accretive and strategic acquisitions and the acceleration of recurring SaaS revenue. “As the broader market becomes more aware of our ability to scale our recurring revenues and our overall growth rates, we believe our shareholders will be rewarded,” Ghezzi noted.
Kontrol Energy is an energy efficiency sector leader due to its extensive developments in the world of IoT, cloud and SaaS solutions. The company has a well-established and strategic mergers and acquisitions plan that aims to enhance the organic growth it has been achieving over the past two years. The solutions that Kontrol Energy provides to its clients are aimed at reducing overall energy expenditure and minimizing greenhouse gas emissions.
For more information, visit the company’s website at www.KontrolEnergy.com
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