reports
- Nicholas Cortellucci
- CFA
DRX: Facility Visit & Updates; Staying Bullish
What you need to know: • Our team visited the Terrebonne facility earlier this week, where we toured the plant and met with management. • The Trump victory has mixed implications, with general support for infrastructure spending but potential to defund spending packages and implement tariffs on imported steel. Earlier this week, we had the pleasure of visiting ADF Group’s (DRX:TSX, ADFJF:OTC) Terrebonne facility. We summarize the takeaways from our visit as well as other updates from the sect...
CEMATRIX Announces 2024 Third Quarter Financial Results
CEMATRIX Announces 2024 Third Quarter Financial Results CALGARY, Alberta, Nov. 07, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products announced the release of its consolidated financial results for the third quarter ended September 30, 2024. “As expected, third-quarter revenues were below last year’s record results. The Company had anticipated that the sales from two major 2023 projects would be replaced by the sales from four maj...
CEMATRIX To Report Third Quarter Results On November 7, 2024
CEMATRIX To Report Third Quarter Results On November 7, 2024 Earnings Webinar Scheduled For 1:00 p.m. ET, November 8, 2024 CALGARY, Alberta, Oct. 31, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products today announced that it will release its consolidated financial results for the third quarter ending September 30, 2024, after the market closes on November 7, 2024. Management will host a webinar at 1:00 p.m. ET on Friday, Novem...
CEMATRIX Announces $6.2 Million in New Contracts
CEMATRIX Announces $6.2 Million in New Contracts CALGARY, Alberta, Oct. 24, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products today announced that it has executed $6.2 million in new contracts since the company’s last announcement on July 10, 2024. Factoring in the $6.2 million in new contracts, total contracts executed in 2024 is $42.0 million. “The $6.2 million of new contracts are composed of various projects across North Am...
- Ben Pirie
- Nicholas Cortellucci
- CFA
Q3/24 Recap: All Our Research in One Place!
Quarterly Coverage Update As we enter the final quarter of the year, we are excited to release our quarterly recap report to update our readers on all the research content we have published in the last three months. This quarter included substantial momentum across several sectors, with strong performance from the companies we cover. Omai Gold Mines (+55%) led the way, followed by Allegiant Gold (+27%), Moon River Moly (+11%), and BQE Water (+10%). This quarter has been our most active yet, ma...
- Nicholas Cortellucci
- CFA
DRX: $55M in New Contracts Signed
What you need to know: • ADF announced $55M in new contracts across Quebec and the U.S. Midwest, including additional work for its U.S. pharmaceutical client. • Today’s announcement gives us further confidence that ADF can continue to grow the backlog as the infrastructure spending cycle prolongs. • ADF trades at 3.5x EBITDA, the lowest multiple we have seen since covering the stock and a major discount to its peers and precedent transactions. This morning, ADF Group (DRX:TSX, ADFJF:OTC) ann...
CEMATRIX Announces Project Delays
CEMATRIX Announces Project Delays CALGARY, Alberta, Sept. 23, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products, today announced that unforeseen delays on some projects will impact the Company’s 2024 revenue expectations, as a portion of the 2024 forecasted revenue will now be realized in 2025. "While we have made considerable progress on strategic initiatives and continue to grow our backlog, delays affecting multiple projec...
- Nicholas Cortellucci
- CFA
DRX: Revenue Misses due to Delays but Margins Smash Expectations
What you need to know: • ADF reported mixed Q2 financials that missed our revenue estimate due project delays but largely beat our profitability estimates. • Revenue came in at $74.9M vs. our $92.6M (due to $35M in delays) while EBITDA came in at $24.9M (33% margin) vs. our estimate of $17.9M. • Management remained bullish on the long-term growth of the sector and ended the quarter in large net cash position. This morning, ADF Group (DRX:TSX, ADFJF:OTC) reported Q2 financial results (ending Ju...
- Nicholas Cortellucci
- CFA
Finding the Next Takeout in Canadian Small-Caps - Part Three
What you need to know: • Since our last note in May, there have been 10 additional takeouts in Canadian small-caps, most of which coming in a significant premiums. • The new acquisitions largely fit within the framework outlined in previous reports. • Our potential takeouts portfolio is up 43% since inception (November 2023) and 17% since our last note, compared to the TSX up 18% and 3% respectively. We review the biggest winners and losers in the portfolio and present a list of new ideas on ou...
GCL COLABOR GROUP INC
COV. COVALON TECHNOLOGIES LTD.
CTX CRESCITA THERAPEUTICS
E ENTERPRISE GROUP
IFX IMAFLEX INC. CL A
MAL MAGELLAN AEROSPACE CORP.
SYZ SYLOGIST LTD.
KUT REDISHRED CAPITAL CORP.
GSI. GATEKEEPER SYSTEMS INC
QIS CN QUORUM INFORMATION TECHNOLOGIES INC
XYBN XYBION DIGITAL INC
GRID TANTALUS SYSTEMS HLDG INC
HAI HAIVISION SYSTEMS INC
CNG KRAKEN ROBOTICS INC
BQE BQE WATER INC.
OSS ONESOFT SOLUTIONS INC
- Nicholas Cortellucci
- CFA
DRX: Addressing the Bears & Q2 Preview
What you need to know: • DRX stock is down 38% since reaching ATHs in June; we have aggregated some of the bearish points that we are hearing and provide our rebuttals as to why ADF will continue to be one of the best performing stocks on the TSX. • ADF Group will be reporting Q2/25 financials in early September, we are expecting revenue of $92.6M (+15% YoY) and EBITDA of $17.9M (19% margin, +41% YoY). ADF Group (DRX:TSX, ADFJF:OTC) is down 35% since reaching highs of $20.50/share on the back ...
CEMATRIX Announces 2024 Second Quarter Financial Results
CEMATRIX Announces 2024 Second Quarter Financial Results CALGARY, Alberta, Aug. 07, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products announced the release of its consolidated financial results for the second quarter ended June 30, 2024. “The company set a new, first half record, which is a continuation of our strong growth since mid-year 2023. Overall, the second quarter of 2024 was similar to 2023 as revenue grew 3% versus the pr...
CEMATRIX Announces the Retirement of Esteemed Board Member, Mr. Bob Be...
CEMATRIX Announces the Retirement of Esteemed Board Member, Mr. Bob Benson CALGARY, Alberta, Aug. 01, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products, today announces the retirement of long-standing and esteemed board member, Mr. Bob Benson, effective July 31, 2024. Mr. Benson has served on the board for over two decades, playing a pivotal role in guiding the company through significant, transformative milestones and providing va...
CEMATRIX To Report Second Quarter Results On August 7, 2024
CEMATRIX To Report Second Quarter Results On August 7, 2024 Earnings Webinar Scheduled For 1:00 p.m. ET, August 8, 2024 CALGARY, Alberta, July 31, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products today announced that it will release its consolidated financial results for the second quarter ending June 30, 2024, after the market closes on August 7, 2024. Management will host a webinar at 1:00 p.m. ET on Thursday, August 8, 2024, ...
CEMATRIX Announces Closing of $6.6 Million Bought Deal Private Placeme...
CEMATRIX Announces Closing of $6.6 Million Bought Deal Private Placement NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. CALGARY, Alberta, July 29, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company"), a North American leading manufacturer and supplier of technologically advanced cellular concrete products, is pleased to announce that it has closed its previously announced “bought deal” private placement. The Company entered into an underwriting agreement (the “Underwriting Agreement”) w...
CEMATRIX announces uplisting to TSX and new ticker symbol CEMX
CEMATRIX announces uplisting to TSX and new ticker symbol CEMX CALGARY, Alberta, July 15, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (TSXV: CVX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company"), a North American leading manufacturer and supplier of technologically advanced cellular concrete products, is pleased to announce the Company is uplisting from the TSX Venture Exchange (“TSXV”) to the Toronto Stock Exchange (“TSX”). Concurrent with the uplisting, the Company is changing its ticker symbol to CEMX. It is expected that at the market open on July 16, 2024, the company’s ...
CEMATRIX Announces $9.7 Million in New Contracts
CEMATRIX Announces $9.7 Million in New Contracts CALGARY, Alberta, July 10, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company"), a North American leading manufacturer and supplier of technologically advanced cellular concrete products, today announced that it has executed $9.7 million in new contracts since the company’s last announcement. Factoring in the $9.7 million, the year-to-date total in contracts executed is $35.8 million. “The $9.7 million of new contracts are composed of various projects across North America, one of which is ...
- Ben Pirie
- Nicholas Cortellucci
- CFA
Q2/24 Recap: All Our Research in One Place!
As we conclude Q2/24, we are excited to release our inaugural quarterly recap report to update our readers on all the research content we have published in the last three months. This period has been marked by dynamic performance across various sectors, with notable highlights in the companies we cover. The best performers from our coverage universe include, ADF Group (+74%), Trigon Metals (+39%), BQE Water (+29%), and Dynacor Group (+12%). The overall coverage demonstrated significant resilie...
CEMATRIX announces increase to its Credit Facility to $8 million
CEMATRIX announces increase to its Credit Facility to $8 million CALGARY, Alberta, June 27, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products today announced that it has secured an increase to its credit facility with the Canadian Imperial Bank of Commerce (“CIBC”) to support its ongoing growth and short-term annual working capital requirements during peak periods. The increased credit facility now has a maximum borrowing limit of $...
- Nicholas Cortellucci
- CFA
DRX: Sizeable Beat on Q1 Financials & Returning Cash to Shareholders
What you need to know: • ADF Group reported Q1 financial results that largely beat our estimates, including revenue of $107.4M (+34% YoY) vs. $90.1M and EBITDA of $23.1M (+130% YoY) vs. $17.2M. • ADF announced a cash utilization strategy including its intention to repurchase up to 3.0M shares from insiders and the doubling of its semi-annual dividend to $0.02/share. ADF Group (DRX:TSX, ADFJF:OTC) reported Q1 financial results today before market open that smashed our expectations across the boa...
CEMATRIX Announces $5.6 Million in New Contracts
CEMATRIX Announces $5.6 Million in New Contracts CALGARY, Alberta, June 05, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products today announced that it has executed $5.6 million in new contracts. “The $5.6 million of new contracts are composed of various projects across North America which are all scheduled to be completed in 2024,” stated Jeff Kendrick, CEMATRIX President and CEO. “With the addition of these new contracts, a few of ...
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