- POLARIS Infrastructure press release ( OTCPK:RAMPF ): Q3 GAAP EPS of -$0.07.
- Revenue of $14.5M (-2.1% Y/Y) misses by $0.81M .
- Adjusted EBITDA was $10.0 million for the period ended September 30, 2022, compared to $10.9 million in the same period in 2021.
- For the nine month period ended September 30, 2022, the Company generated $20.7 million in net cash flow from operating activities, ending with a strong cash position of $41.64 million .
- Continued progress on the construction of the Binary power plant at San Jacinto, which is on schedule for completion in the fourth quarter of 2022. An additional $3.3 million was spent in the third quarter, bringing the total investment to date to $22.9 million.
- On September 20, 2022, the Company completed the redemption of its unsecured convertible debentures, equivalent to $15.3 million, of which $15.0 million were converted into common shares prior to the redemption date resulting in the issuance of an aggregate of 1,294,799 common shares, and $0.3 million were redeemed in cash.
- The Company remains focused on maintaining a quarterly dividend. For the three months ended September 30, 2022, the Company declared and paid $3.1 million in dividends. The Company has declared the twenty-seventh consecutive quarterly dividend of $0.15 per outstanding common share, which will be paid on November 25th, 2022.
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POLARIS Infrastructure GAAP EPS of -$0.07, revenue of $14.5M misses by $0.81M