For anyone intersted, I've transcribed the Q# 2024 CC (minus the boilerplate.)
Post 1:
JH: Thank you Erica , and hello everyone . And welcome to our Third quarter of 2024 investor conference call. As we anticipated in previous calls, based upon the leading indicators that we typically look at, we saw strong momentum this quarter.
Compared to Q3 small cap last year, royalty income grew over 115% fueled by triple - digit growth In our two largest markets, the automotive and the aircraft markets. In the first nine months of this year, royalty income grew over 93% compared to the same period last year.
This was driven by double- igit percentage growth in the athe ircraft and architectural markets, and triple digit percentage growth in our largest market, the automotive market.
In fact, we are on track to almost double the number of roofs sold to Ferrari and triple the number of roofs sold to McLaren compared to last year. This marks our 7th consecutive quarter of revenue growth and looking ahead, we expect to finish the year with double digit revenue growth over last year.
In fact, as of the end of Q3 of this year, we have already surpassed revenues for all of last year. Our expenses were down by $92,000 this quarter alone and by over $150,000 over the 9 months. With higher revenues and lower expenses, our quarterly net loss is 1 third of last year and for the full 9 months is about half, translating to $0.00 or almost breakeven per share for the quarter and $0.02 per share for the full 9 months.
Barring strategic reasons, we do not anticipate needing additional capital in the near term. We remain debt free with over $1,650,000 in cash and stable working capital sufficient for more than 5 years of operations. Now let's break down these results by market so we can all better understand where we are and what we could all expect.
There has been a steady march forward in the automotive and aircraft industries towards the adoption of our SPD SmartGlass technology, starting with Mercedes, then McLaren, then Ferrari, and now this quarter, Cadillac.
In aircraft, our bread and butter were SPD Smart EDW windows and turboprops like the King Air and jets like the Honda Jet, and now much larger aircraft from DACHER, Dassault, and especially Boeing and Airbus aircraft, all with far more windows per plane.
Cont'd
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