- 5N Plus press release ( OTCPK:FPLSF ): Q4 adjusted EBITDA in Q4 2022 reached $6.7M, compared to $10.1M for the same period last year.
- Revenue of $61.04M (-5.5% Y/Y) misses by $5.04M .
- There is a sequential improvement of consolidated adjusted gross margins from 21.9% in Q1 2022 to 26.7% in Q4 2022.
- On December 31, 2022, the backlog represented 253 days of annualized revenue, 61 days higher than the previous quarter and 32 days higher than same period last year.
- Net debt stood at $78.3M on December 31, 2022, down from $80.1M at the end of the prior year.
- Outlook: Management expects its projected Adjusted EBITDA range to be between $35 million and $40 million for FY 2023, with a higher contribution in the second half of the year, and between $45 million and $50 million for FY 2024.
- Looking ahead, 5N Plus is focused on meeting customer demand and building on its momentum to reap the full potential of its strategy, supported by its commercial excellence program and investments in value-added and high-growth markets.
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5N Plus reports Q4 results; initiates FY23 guidance