- KNR records 35 percent growth, is on track for positive cash flow
- Company aims to be an industry leader in providing energy efficiency
- KNR CEO says that the company is in the due diligence stages for multiple acquisitions
Kontrol Energy Corp. (CSE: KNR) (OTC: KNRLF) (FSE: 1K8) is positioning itself to meet its strategic goals for 2019. Those goals include two additional accretive acquisitions, growing its recurring software as a service (“SaaS”) organic volume and becoming cash-flow positive (http://nnw.fm/3zHgQ).
The company reported sales of $6.6 million for the nine months ended September 30, 2018 – a 35 percent jump from $4.9 million during the same period of the prior year.
In a news release, Paul Ghezzi, CEO of KNR, stated, “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.”
KNR announced that it is in various stages of due diligence in respect to multiple accretive acquisitions. Ghezzi said that the company will be focused on completing those transactions. Last fall, KNR acquired CEM Specialties Inc. and subsequently received two orders totaling more than $2 million. The company’s investor presentation notes that KNR has already completed six acquisitions to date (http://nnw.fm/BBaY0).
KNR is an Ontario, Canada-based innovator in the energy efficiency sector, offering clients market-based energy solutions to reduce energy costs and cut greenhouse gas (“GHG”) emissions. The company achieves this by applying disruptive and integrated technologies.
KNR has identified an organic growth target of 40 percent per annum, driven by IoT, cloud and SaaS technologies that reduce energy costs. KNR’s SaaS sales model provides strong organic growth for the company by offering customers enhanced energy management, analytics and data in real time.
Ghezzi added, “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.”
For more information, visit the company’s website at www.KontrolEnergy.com
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