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Yahoo
25-06-2025
- Business
- Yahoo
ALUULA Reports Second Quarter 2025 Financial Results
From windsports to wind power- ALUULA prepares for broader market growth Victoria, British Columbia--(Newsfile Corp. - June 25, 2025) - ALUULA Composites Inc. (TSXV: AUUA) ("ALUULA" or the "Company") today reported its financial results for the three and six month periods ended April 30, 2025 ("Q2 2025" and "YTD Q2 2025" respectively). All currency amounts noted are in Canadian dollars. Building on momentum from its first quarter, the Company continued to progress against its fiscal 2025 strategic initiatives during Q2 2025. ALUULA reported ongoing diversification of its customer base and sales pipeline, leveraged its expertise in kite design to advance leads in the wind power vertical market, and maintained gross margins within its target range. "This quarter is pivotal for us as we're turning towards a higher growth phase for the company," said Sage Berryman, President & CEO. "Our start in windsports has laid a strong technical and commercial foundation and we are building on that momentum to move into verticals such as wind power and beyond. We see the outlines of a future defined by high growth, diversification and broader market relevance. We are aligning our product innovation, our continued focus on circularity, our team, and partnerships to meet our growth potential." Key Q2 2025 Highlights Sales for Q2 2025 were $1,573,677 compared to $1,403,151 for the three-month period ended April 30, 2024 ("Q2 2024"), which represents a $170,526 or 12% increase. Sales increased across both of ALUULA's sales channels, with Performance Outdoor increasing by $113,935 and Commercial Industrial increasing by $56,591. The Company also continued to make progress against its customer diversification goals by: Reducing sales concentration with the windsport vertical market to 76% compared to 96% in Q2 2024. Continuing to diversify the sales pipeline with 100% of prototype size orders being generated by customers outside the windsport vertical market, compared to 94% in Q2 2024. Gross margins for Q2 2025 were 43% compared to 40% in Q2 2024, which is within the Company's expected range of 40%-45%. Operating expenses were $881,843 in Q2 2025 compared to $1,556,493 in Q2 2024 representing a decrease of $674,650. Operating expenses in Q2 2024 were higher due to costs incurred to effect organizational changes including $390,000 in severance payments and $50,000 in general & administration ("G&A") costs resulting from the write off of patents and trademarks no longer needed to support the Company's future growth. Also contributing to higher G&A costs in Q2 2024 were warranty provisions recorded for older materials with higher-than-average warranty rates. Other Income was $15,540 in Q2 2025 compared to $752,379 in Q2 2024 representing a decrease of $736,839. In Q2 2024, Other Income included a fair value adjustment of $749,391 associated with the Company's investment in Xlynx Materials Inc. common shares (the "Xlynx Shares"). The fair value adjustment was based on the sale price negotiated for the Xlynx Shares in a May 2024 purchase and sale agreement. Net and comprehensive loss from Ocean Rodeo's discontinued operations was $60,936 Q2 2025 compared to a net and comprehensive loss of $394,680 in Q2 2024 representing a decrease of $333,744. This decrease is a direct result of cost cutting measures implemented in April 2024 after the decision was made to discontinue Ocean Rodeo's operations. Key YTD Q2 2025 Highlights Sales for YTD Q2 2025 were $2,835,206 compared to $3,400,430 during YTD Q2 2024, which represents a decrease of $565,224 or 17%. The decrease in YTD Q2 2025 sales is due to timing of receipt of windsport customer orders, which varied significantly across fiscal 2024 quarters and are expected to be more consistent throughout fiscal 2025, a trend that is holding true through the six-month period ending April 30, 2025. Gross margins for YTD Q2 2025 were 43%, which was consistent with the YTD Q2 2024 period and within the Company's expected range of 40%-45%. Operating expenses were $1,701,373 in YTD Q2 2025 compared to $2,239,525 in Q2 2024 representing a decrease of $538,152. Operating expenses in YTD Q2 2024 were higher due to costs incurred to effect organizational changes detailed earlier in this press release. The Company also reported a $106,723 reduction in marketing expenses in YTD Q2 2025 due to the decision not to exhibit at two tradeshows in Germany that were attended in YTD Q2 2024. Net and comprehensive loss from Ocean Rodeo's discontinued operations was $66,331 in YTD Q2 2025 compared to a net and comprehensive loss of $741,237 in YTD Q2 2024 representing a decrease of $674,906. This decrease is a direct result of cost cutting measures implemented in April 2024 after the decision was made to discontinue Ocean Rodeo's operations. Outlook The Company continues to work with its growing list of brand partners, developing products that are lighter, stronger, and recycle-ready. These partnerships are built on the mutual understanding that performance and circularity can be synonymous in the outdoor industry and beyond. The products that are born from these partnerships work to change their respective industries for the better. The Windsport and other Performance Outdoor categories are still the core drivers of ALUULA's growth as more companies move from concept into commercialization, launching new ALUULA-enabled products. Collaborative research and development programs with other industrial partners, such as Michelin Inflatable Solutions and AirSeas, continue to advance the materials' development as these opportunities move towards commercial application. While these existing opportunities continue to progress, the Company is also prioritizing proactive sales outreach in large and growing markets where strong product fit exists and ALUULA's high-performance materials enable uses not possible with incumbent materials. This includes focusing on Commercial Industrial applications such as renewable energy sources (wind power is one example, with the current drive towards decarbonization of the shipping industry) and defense applications (such as ultra-light and ultra-strong sustainable portable shelters, particularly for extreme cold environments). With the Company's corporate foundation now stabilized, ALUULA is focused on key areas including sales pipeline expansion, product innovation, and circularity. The Company has prioritized these areas as well as continued improvements to the patented manufacturing process, as it expects them to contribute to improved efficiencies and profitability. All of these operational aspects will work together to achieve ALUULA's mission, which is to help instigate a global composite textile revolution and prove that high-performance and circularity are synonymous. Financial Statements and Management's Discussion and Analysis This earnings press release should be read in conjunction with ALUULA's unaudited interim condensed consolidated financial statements for the six months ended April 30, 2025 and the related management discussion and analysis, which can be found on ALUULA's website and its issuer profile on the System for Electronic Document Analysis and Retrieval Plus at About ALUULA Composites ALUULA is an ultra-light, high performance and recycle-ready composite materials brand that enhances the performance of outdoor gear. Proudly owned and manufactured on the Canadian west coast, ALUULA's innovation is driven by a deep understanding that equipment does not need to sacrifice performance for sustainability. ALUULA's materials are known for their unique construction capabilities and their ability to make products lighter, stronger, and more sustainable. | (TSXV: AUUA) On behalf of the Board of Directors,Sage BerrymanChief Executive Officer1-888-724-2470 For ALUULA investor inquiries, please contact: 1-888-724-2470, ext. 4 IR@ For ALUULA media relations, please contact: media@ ALUULA's Brand Partners The term "brand partners" does not refer to formal partnerships with our customers. The term refers to marketing relationships with our customers who use ALUULA's technology as a brand ingredient in their products. TSX Venture Exchange 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. Forward-Looking Statements The information in this news release includes certain information and statements about management's view of future events, expectations, plans, and prospects that constitute forward-looking statements, including, but not limited to: the Company's list of brand partners growing; the Company's advancement of its materials development; the Company's future focus on Commercial Industrial and defense applications; ; the Company achieving its mission. These statements are based on assumptions subject to significant risks and uncertainties as described in the Company's management discussion and analysis. Because of these risks and uncertainties and as a result of a variety of factors, including the timing and receipt of all applicable regulatory, corporate third-party approvals, the actual results, expectations, achievements, or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. 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Yahoo
16-06-2025
- Business
- Yahoo
Driving Decarbonization with Wind: Meet ALUULA Composites at Wind for Goods
Victoria, British Columbia--(Newsfile Corp. - June 16, 2025) - ALUULA Composites .Inc. (TSXV: AUUA) ("ALUULA" or the "Company"), a pioneer in wind propulsion materials and innovation, will join Wind For Goods, the international summit dedicated to wind-powered maritime transport, taking place June 19-20, 2025, in Saint-Nazaire, near Nantes, France. This year's theme, "Sailing Maritime Transport: The Challenge of Large-Scale Deployment," aligns with ALUULA's core mission: developing revolutionary, sustainable, high-performance materials enabling global shipping through advanced wind power technology and materials. From wind sports to cargo ships: a natural evolution ALUULA's journey began in windsports—pushing the boundaries of kite and wing technology—and has since evolved to support the next frontier: wind-powered cargo vessels. With shipping responsible for transporting 90% of the world's goods, the industry faces urgent pressure to decarbonize its operations. Without stronger regulations, maritime transport could contribute up to 17% of global CO₂ emissions by 2050, up from its current 3%. Partnering to decarbonize: collaboration with Airseas In line with this vision, ALUULA is collaborating in a research and development project with Airseas, a company owned by K Line, which is committed to decarbonizing the maritime sector. With a shared drive to accelerate sustainable innovation, Airseas is currently exploring ALUULA's material for the construction of the automated kite system in its Seawing project. This project aims to harness wind power to tow cargo ships, significantly reducing carbon emissions and lowering fuel consumption. ALUULA also applauds the recent development of an innovative company, Beyond the Sea, and their SeaKite solution, an automated kite system that reduces CO₂ emissions on average by 20%. Game-changing materials that meet the ocean's demands ALUULA's patented materials are eight times stronger than steel for equivalent weight and recycle-ready. They are purpose-built to meet the rigorous demands of wind propulsion at sea—strong, lightweight, and high-performance even under extreme UV exposure and saltwater conditions. Unlike traditional glued composites that risk delamination, ALUULA's materials are engineered for durability and longevity. Just as important, they are recyclable at the end of their life, supporting the global need for fully circular maritime solutions. Scaling wind power for global shipping "Wind is not just a source of clean energy—it's a practical, scalable solution for reducing maritime fuel use and emissions," said Sage Berryman, CEO at ALUULA. "With our sustainable materials, maritime companies can achieve savings in fuel, optimize transit, and routes. They also future-proof fleets to meet evolving climate regulations and implement circular solutions." Connect with ALUULA at Wind For Goods 2025 to discover how innovative materials can power the wind-propelled cargo vessels of tomorrow. sales@ About ALUULA Composites ALUULA is an ultra-light, high performance and recycle-ready composite materials brand that enhances the performance of outdoor gear. Proudly owned and manufactured on the Canadian west coast, ALUULA's innovation is driven by a deep understanding that equipment does not need to sacrifice performance for sustainability. ALUULA's materials are known for their unique construction capabilities and their ability to make products lighter, stronger, and more sustainable. | (TSXV: AUUA) On behalf of the Board of Directors,Sage BerrymanChief Executive Officer1-888-724-2470 For ALUULA investor inquiries, please contact: 1-888-724-2470, ext. 4 IR@ For ALUULA media relations, please contact: media@ ALUULA's Brand Partners The term "brand partners" does not refer to formal partnerships with our customers. The term refers to marketing relationships with our customers who use ALUULA's technology as a brand ingredient in their products. TSX Venture Exchange 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. Forward-Looking Statements The information in this news release includes certain information and statements about management's view of future events, expectations, plans, and prospects that constitute forward-looking statements, including, but not limited to: attending an international summit, the collaboration with Airseas and potential savings in fuel and optimization of transit, and routes in the maritime industry. These statements are based on assumptions subject to significant risks and uncertainties as described in the Company's management discussion and analysis. Because of these risks and uncertainties the actual results, expectations, achievements, or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. To view the source version of this press release, please visit
Yahoo
27-01-2025
- Business
- Yahoo
ALUULA Composites Inc. Announces Closing of Over-Subscribed Rights Offering
Victoria, British Columbia--(Newsfile Corp. - January 27, 2025) - ALUULA Composites Inc. (TSXV: AUUA) ("ALUULA" or the "Company") is pleased to announce that, further to its news release dated December 16, 2024, the Company has successfully closed its rights offering (the "Rights Offering"), raising the maximum amount permitted under the offering for gross proceeds of $2,506,156.16. The Rights Offering achieved a 96% exercise rate under the basic subscription privilege, and the additional subscription privilege was oversubscribed by 301,180,394 common shares. As a result, the Rights Offering closed without requiring the exercise of the Standby Commitment (as defined below). At closing, the Company issued an aggregate of 250,615,616 common shares of the Company (the "Shares") pursuant to the Rights Offering. Following closing, ALUULA has 501,231,239 Shares issued and outstanding. The Rights Offering expired at 2:00 p.m. PST on January 21, 2025, at which time all unexercised rights became void and of no value. Of the 250,615,616 Shares issued, 240,982,385 Shares were issued pursuant to exercise of the basic subscription privilege, and 9,633,231 Shares were issued pursuant to the exercise of the additional subscription privilege. In aggregate, the Company issued approximately 139,779,693 Shares to insiders of the Company, 134,905,520 under the basic subscription privilege and approximately 4,874,173 under the additional subscription privilege, for an aggregate purchase price of approximately $1,397,796.93. To the knowledge of the Company, no person that was not an insider or control person of the Company before the Rights Offering became an insider or control person as a result of the Rights Offering. As previously announced, the Company entered into a standby commitment agreement with certain directors and officers of the Company ("Standby Purchasers") who agreed to purchase up to 150,000,000 Shares, in the event that the Rights Offering was not fully subscribed (the "Standby Commitment"). As consideration for entering the Standby Commitment, the Company has issued 26,250,000 bonus warrants ("Bonus Warrants") to the Standby Purchasers. Each Bonus Warrant is exercisable into one Share at a price of C$0.10 per Share until January 24, 2030. ALUULA intends to use the aggregate gross proceeds of the Rights Offering to repay indebtedness, purchase equipment for use in research and development and production, investigate alternative manufacturing methods, and for working capital and general corporate purposes. No fees or commissions were paid in connection with the Rights Offering. Further details of the Rights Offering are set out in ALUULA's Rights Offering notice and Rights Offering circular, which are available under ALUULA's profile on SEDAR+ at Sage Berryman, President and CEO of ALUULA said, "We are pleased with the outcome of the Rights Offering and the strong interest shown in our stock. This is a clear indication of the confidence in ALUULA's products, strategy and future. The successful transaction marks a key step for us as we continue our focused efforts to grow the business and we are grateful for our shareholders' backing throughout this process." The Shares issued upon exercise of the rights have not been, and will not be, registered under the United States Securities Act of 1933, as amended and, accordingly, the Shares are not being publicly offered for sale in the "United States" or to "U.S. persons" (as such terms are defined in Regulation S under the United States Securities Act of 1933, as amended). This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. There shall be no sale of the securities in any jurisdiction in which an offer to sell, a solicitation of an offer to buy, or a sale would be unlawful. About ALUULA Composites Inc. ALUULA is an ultra-light, high performance and recycle-ready composite materials brand that enhances the performance of outdoor gear. Proudly owned and manufactured on the Canadian west coast, ALUULA's innovation is driven by a deep understanding that equipment does not need to sacrifice performance for sustainability. ALUULA's materials are known for their unique construction capabilities and their ability to make products lighter, stronger, and more sustainable. | (TSXV: AUUA) On behalf of the Board of Directors,Sage BerrymanChief Executive Officer1-888-724-2470 For ALUULA investor inquiries, please contact:1-888-724-2470, ext. 4IR@ For ALUULA media relations, please contact:media@ ALUULA's Brand Partners The term "brand partners" does not refer to formal partnerships with our customers. The term refers to marketing relationships with our customers who use ALUULA's technology as a brand ingredient in their products. TSX Venture Exchange 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. Forward-Looking Statements Certain information in this news release includes statements about management's view of future events, expectations, plans, and prospects that constitute forward-looking statements, including, but not limited to: the intended use of proceeds from the Rights Offering. These statements are based on assumptions subject to significant risks and uncertainties. Because of these risks and uncertainties, and as a result of a variety of factors, including the timing and receipt of all applicable regulatory, and corporate third-party approvals, the actual results, expectations, achievements, or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. To view the source version of this press release, please visit Sign in to access your portfolio
