Latest news with #EcoSynthetix
Cision Canada
29-07-2025
- Business
- Cision Canada
EcoSynthetix Reports 2025 Second Quarter Results
BURLINGTON, ON, July 29, 2025 /CNW/ - EcoSynthetix Inc. (TSX: ECO) ("EcoSynthetix" or the "Company"), a renewable chemicals company that produces a portfolio of commercially proven bio-based products, today announced its financial and operational results for the three months (Q2 2025) and six months (YTD 2025) ended June 30, 2025. Financial references are in U.S. dollars unless otherwise indicated. Highlights (Comparison periods in each case are the three months ended June 30, 2024) Recorded net sales of $5.0 million, up 57% or $1.8 million, primarily due to 50% higher volumes. Recorded Adjusted EBITDA 1 of $0.2 million, a $1.0 million improvement. Subsequent to the end of the quarter, received a new $0.8 million purchase order for SurfLock™ from a leading global pulp manufacturer for immediate delivery with additional orders expected in the second half of 2025. Won two new commercial accounts for SurfLock™ strength aids in the tissue end market. Named one of the 2025 Best 50 Corporate Citizens in Canada by Corporate Knights, ranking 28 th overall in Corporate Knights' quantitative methodology. Purchased and cancelled 121,200 common shares in Q2 2025, under the normal course issuer bid for total consideration of $0.4 million. Maintained a strong balance sheet with cash and term deposits of $30.7 million as at June 30, 2025. "We are building momentum within our strategic end markets of pulp, tissue and paperboard and wood composites with increased volumes driving higher sales in the quarter," said Jeff MacDonald, CEO of EcoSynthetix. "We continue to see strong progress at our key strategic account using SurfLock™ in pulp production with the new purchase order which puts them well ahead of the initial plan for the year. They're continuing to invest in their differentiated product offering and expand their customer engagement. Our key strategic account using DuraBind™ in their wood composites production continues to show steady demand and positive progress continues at its second mill and other supply chain partner mills. As a thought leader in wood composites production and a major customer for other third-party suppliers, this account is actively supporting industrial scale DuraBind™ trials that we're conducting with other producers in their supply chain to help meet their carbon footprint targets. Our marketing and development partner, Dow, continues to broaden their applications and customer trials using our all-natural Bioform™ ingredient in the personal care end market. We continue to believe pulp and wood composites will be the major growth markets for the business. Our two most important accounts addressing these end markets are making an increasingly significant contribution to our financial results, and that's exactly what we want to see." Financial Summary Net Sales Net sales were $5.0 million and $9.0 million for Q2 2025 and YTD 2025, respectively, compared to $3.2 million and $7.9 million for the corresponding periods in 2024. The $1.8 million increase, or 57% improvement in the quarterly period was primarily due to higher volumes of $1.6 million, or 50%, and a higher average selling price which increased sales $0.2 million, or 7%. The $1.2 million increase, or 15% improvement, in the YTD period was primarily due to higher volumes of $1.1 million, or 14%, as well as $0.1 million, or 1%, from a higher average selling price. Gross Profit Gross profit was $1.4 million and $2.3 million for Q2 2025 and YTD 2025, respectively, compared to $0.9 million and $2.0 million for the corresponding periods in 2024. The 66% and 15% improvements in the quarterly and YTD periods, respectively, were due to higher volumes and a higher average selling price. Gross profit as a percentage of sales was 28.4% and 25.3% for Q2 2025 and YTD 2025, respectively, compared to 27.0% and 25.3% in the corresponding periods last year. Gross profit as a percentage of sales adjusted for manufacturing depreciation was 33.0% and 30.4% for Q2 2025 and YTD 2025, respectively, compared to 31.1% and 29.9% for the corresponding periods in 2024. The improvement in each metric during the quarterly period was primarily due to a higher average selling price partially offset by higher manufacturing costs. Selling, General and Administrative Selling, general and administrative expenses (SG&A) were $1.2 million and $2.7 million for Q2 2025 and YTD 2025, respectively, compared to $1.4 million and $3.2 million for the corresponding periods in 2024. The improvement in each period was primarily due to asset relocation costs incurred in the prior year, associated with the Company's manufacturing footprint realignment project. Research and Development Research and development (R&D) costs were $0.4 million and $0.8 million for Q2 2025 and YTD 2025, respectively, compared to $0.6 million and $1.1 million in the corresponding periods in 2024. The change in both periods is primarily due to higher product scale-up costs incurred in the prior year, as well as lower asset depreciation. R&D expense as a percentage of sales was 9% in each of Q2 2025 and YTD 2025, compared to 20% and 14% in the corresponding periods in 2025. The Company's R&D efforts continue to focus on further enhancing value for our existing products and expanding addressable opportunities. Adjusted EBITDA 1 Adjusted EBITDA was $0.2 million for Q2 2025, an improvement of $1.0 million, compared to an Adjusted EBITDA loss of $0.8 million in the same period last year. Adjusted EBITDA loss was $0.3 million for YTD 2025, an improvement of $1.1 million, compared to $1.3 million in the same period last year. The improvement in each period was primarily due to higher gross profit and lower operating costs adjusted for non-cash items. Net Income (Loss) Net income was $0.1 million, or $0.00 per common share, for Q2 2025 compared to a net loss of $0.7 million, or $0.01 per common share, for the same period last year. Net loss was $0.5 million, or $0.01 per common share, for YTD 2025 compared to $1.3 million, or $0.02 per common share, for the same period in 2024. The improvement in each period was primarily due to a reduction in loss from operations. Liquidity Cash on hand and term deposits were $30.7 million as at June 30, 2025, compared to $32.2 million as at December 31, 2024. The Company purchased and cancelled 121,200 common shares under the NCIB during Q2 2025, for consideration of $0.4 million. Notice of Conference Call EcoSynthetix will host a conference call Wednesday July 30, at 8:30 am ET to discuss its financial results. Jeff MacDonald, CEO, and Robert Haire, CFO, will co-chair the call. All interested parties can instantly join the call by phone, by following the URL to easily register and be connected into the conference call automatically or the conventional method by dialling (416) 945-7677 or (888) 699-1199 with the conference identification of 45172#. Please dial in 15 minutes prior to the call to secure a line. A live audio webcast of the conference call will also be available at or The presentation will be accompanied by slides, which will be available via the webcast link and the Company's website. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. 1 Non-IFRS Financial Measures This press release makes reference to certain non-IFRS measures. These non-IFRS measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing a further understanding of results of operations of EcoSynthetix from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the financial information of EcoSynthetix reported under IFRS. The Company uses non-IFRS measures such as Adjusted EBITDA to provide investors with a supplemental measure of operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. Management also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Management also uses non-IFRS measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess the Company's ability to meet its capital expenditure and working capital requirements. Adjusted EBITDA is not a measure recognized under IFRS and does not have a standardized meaning prescribed by IFRS. See "IFRS and Non-IFRS Measures." The Company presents Adjusted EBITDA because the Company believes it facilitates investors' use of operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting relative interest expense), the book amortization of intangibles (affecting relative amortization expense) and the age and book value of property and equipment (affecting relative depreciation expense). The Company also presents Adjusted EBITDA because it believes it is frequently used by securities analysts, investors and other interested parties as a measure of financial performance. Adjusted EBITDA as presented herein are not recognized measures under IFRS and should not be considered as an alternative to operating income or net income as measures of operating results or an alternative to cash flows as measures of liquidity. Adjusted EBITDA is defined as consolidated net income (loss) before net interest expense, income taxes, depreciation, amortization, gain or loss on disposals of property, plant and equipment and other non-cash expenses and charges deducted in determining consolidated net income (loss). The following table reconciles net income (loss) to Adjusted EBITDA (loss) for the three and six months ended June 30, 2025, and June 30, 2024: About EcoSynthetix Inc. ( EcoSynthetix offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. The Company's flagship products, DuraBind™, Surflock™, Bioform™, and EcoSphere®, are used to manufacture wood composites, personal care, paper, tissue and packaging products, and enable performance improvements, economic benefits and carbon footprint reduction. The Company is publicly traded on the Toronto Stock Exchange (T:ECO). Forward-Looking Statements Certain statements in this Press Release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of the Company, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward looking statements. The forward-looking statements in this Press Release include, but are not limited to, statements regarding the Company's plans to execute its commercial strategy, deliver meaningful growth across all three product categories, convert high-value strategic prospects into customers, and other statements regarding the Company's plans and expectations in 2025. These statements reflect our current views regarding future events and operating performance and are based on information currently available to us, and speak only as of the date of this Press Release. These forward-looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Those assumptions and risks include, but are not limited to, the Company's ability to successfully allocate capital as needed and to develop new products, as well as the fact that our results of operations and business outlook are subject to significant risk, volatility and uncertainty. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including the factors identified in the "Risk Factors" section of the Company's Annual Information Form dated February 18, 2025. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this Press Release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, we do not intend and do not assume any obligation to update these forward-looking statements. EcoSynthetix Inc. Consolidated Statements of Operations and Comprehensive Income (Loss) For the three and six months ended June 30, 2025 and 2024 (expressed in US dollars) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Net sales 5,004,511 3,183,961 9,046,672 7,869,780 Cost of sales 3,581,675 2,325,682 6,755,797 5,876,611 Gross profit on sales 1,422,836 858,279 2,290,875 1,993,169 Expenses Selling, general and administrative 1,242,610 1,440,705 2,702,157 3,163,173 Research and development 428,578 640,330 813,146 1,089,147 1,671,188 2,081,035 3,515,303 4,252,320 Loss from operations (248,352) (1,222,756) (1,224,428) (2,259,151) Net interest income 359,356 448,869 728,906 865,918 Gain on disposal of property, plant and equipment - 90,000 - 90,000 Net income (loss) and comprehensive income (loss) 111,004 (683,887) (495,522) (1,303,233) Basic and diluted income (loss) per common share 0.00 (0.01) (0.01) (0.02) Weighted average number of common shares outstanding 58,576,242 58,705,545 58,554,124 58,659,345 EcoSynthetix Inc. Consolidated Statements of Cash Flows For the three and six months ended June 30, 2025 and 2024 (expressed in US dollars) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Cash provided by (used in) Operating activities Net income (loss) and comprehensive income (loss) 111,004 (683,887) (495,522) (1,303,233) Items not affecting cash Depreciation 275,783 238,433 546,186 542,632 Share-based compensation 210,780 199,040 415,442 401,419 Other (117,945) 1,426 (152,827) (11,657) Gain on disposal of property, plant and equipment - (90,000) - (90,000) Changes in non-cash working capital Accounts receivable (226,351) 585,299 (263,725) 78,041 Inventory 182,361 201,858 (452,407) 1,096,126 Prepaid expenses (102,692) (78,055) (115,475) (78,838) Trade accounts payables and accrued liabilities (584,734) (757,995) (139,646) 168,925 Interest on term deposits Interest received on term deposits 200,055 141,712 1,041,849 402,162 Accrued interest on term deposits (307,663) (414,570) (621,738) (797,220) (359,402) (656,739) (237,863) 408,357 Investing activities Purchase of property, plant and equipment (142,123) (260,329) (165,288) (412,715) Proceeds on disposal of property, plant and equipment - 90,000 - 90,000 Receipts on matured term deposits 3,000,000 2,700,000 19,550,000 15,300,000 Purchase of term deposits (3,175,500) (3,000,000) (20,455,500) (15,800,000) (317,623) (470,329) (1,070,788) (822,715) Financing activities Payments made on lease liability (81,433) (81,088) (160,875) (160,973) Common shares repurchased (355,517) (549,325) (689,359) (1,110,704) Exercise of common share options - 665,498 43,238 710,459 (436,950) 35,085 (806,996) (561,218) Effect of exchange rate changes on cash 124,605 (3,577) 161,664 (1,256) Change in cash during the period (989,370) (1,095,560) (1,953,983) (976,832) Cash - Beginning of period 6,756,790 5,034,173 7,721,403 4,915,445 Cash - End of period 5,767,420 3,938,613 5,767,420 3,938,613 SOURCE EcoSynthetix Inc.
Cision Canada
22-07-2025
- Business
- Cision Canada
EcoSynthetix Receives Second Purchase Order for SurfLock™ Strength Aids Ahead of Original Plan from a Leading Global Pulp Manufacturer
BURLINGTON, ON, July 22, 2025 /CNW/ - EcoSynthetix Inc. (TSX: ECO) ("EcoSynthetix" or the "Company"), a renewable chemicals company that produces a portfolio of commercially proven bio-based products, today announced it has received a new, second purchase order from a leading global pulp manufacturer for its proprietary strength aid, SurfLock™. The purchase order represents approximately $800 thousand worth of material for immediate delivery with additional orders expected in the second half of 2025 to support their production schedule. "This new order from our key strategic account in the pulp end market demonstrates both the market need and the success this leading global manufacturer is generating with its differentiated enhanced pulp offering that uses SurfLock™," said Jeff MacDonald, CEO of EcoSynthetix. "The pulp end market is a billion-dollar opportunity. With the availability and pricing of conventional long, strong softwood fibers continuing to be a challenge in the paper and packaging industry, our strength aids allow suppliers of hardwood pulp to improve the performance of their pulp and replace softwood fiber at significant savings to their customers. This new purchase order signals the manufacturer is ahead of their original plan set earlier this year, more than doubling the run-rate demand in the back half of 2025. The leading global pulp manufacturer is investing internal resources in its differentiated offering and driving market penetration. We are well positioned to support this success based on our capital-light manufacturing assets with the capability to scale production as they drive further demand." SurfLock™ is a bio-based strength aid that increases the mechanical strength in pulp, tissue and paper-based packaging applications. SurfLock™ can be used by manufacturers to improve their economics by increasing their use of lower cost virgin fibers, recycled fibers and low-cost fillers, reducing their use of retention aids and refining energy, and improving the runnability of the line with less breaks on the machine. Pulp, tissue and packaging applications represent a billion-dollar addressable market opportunity for the Company. About EcoSynthetix Inc. ( EcoSynthetix offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. The Company's flagship products, DuraBind™, Surflock™, Bioform™ and EcoSphere®, are used to manufacture wood composites, personal care, paper, tissue and packaging products, and enable performance improvements, economic benefits and carbon footprint reduction. The Company is publicly traded on the Toronto Stock Exchange (T:ECO). SOURCE EcoSynthetix Inc.
Cision Canada
16-07-2025
- Business
- Cision Canada
EcoSynthetix to Host 2025 Second Quarter Results Conference Call
BURLINGTON, ON, July 16, 2025 /CNW/ - EcoSynthetix Inc. (TSX: ECO) ("EcoSynthetix" or the "Company"), today announced that it will release its 2025 second quarter results on Tuesday, July 29, 2025, after 5:00 pm ET. The Company will subsequently hold a conference call on Wednesday, July 30, at 8:30 AM ET hosted by Mr. Jeff MacDonald, Chief Executive Officer, and Mr. Rob Haire, Chief Financial Officer. A question and answer session will follow the corporate update. CONFERENCE CALL DETAILS A link to the live audio webcast of the conference call will be available on the Investor Relations Events page on the Company's website at as well as at The presentation will be accompanied by slides, which will be available on the webcast and via the Company's website. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to hear the webcast. About EcoSynthetix Inc. ( EcoSynthetix offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. The Company's flagship products, DuraBind ™, Surflock ™, Bioform ™ and EcoSphere ®, are used to manufacture wood composites, personal care, paper, tissue and packaging products, and enable performance improvements, economic benefits and carbon footprint reduction. The Company is publicly traded on the Toronto Stock Exchange (T:ECO). SOURCE EcoSynthetix Inc.
Yahoo
12-05-2025
- Business
- Yahoo
EcoSynthetix Announces Normal Course Issuer Bid
BURLINGTON, ON, May 12, 2025 /CNW/ - EcoSynthetix Inc. (TSX: ECO) ("EcoSynthetix" or the "Company"), a renewable chemicals company that produces a portfolio of commercially proven bio-based products, announced today that it intends to make a normal course issuer bid (the "Bid") to repurchase, on the open market through the facilities of the Toronto Stock Exchange ("TSX"), other designated exchanges and/or alternative Canadian trading systems or by such other means as may be permitted by applicable Canadian securities laws, certain of its outstanding common shares ("Shares"). The number of Shares to be purchased during the period of the Bid from May 15, 2025 to May 14, 2026 will not exceed 4,094,000 Shares, being approximately 10% of the outstanding Shares as of May 1, 2025, other than the Shares held by directors, senior officers and principal security holders (the "Public Float"). The actual number of Shares which may be purchased pursuant to the Bid and the timing of any such purchases will be determined by the management of EcoSynthetix. As at May 1, 2025 there were 58,443,917 Shares issued and outstanding and the Public Float consisted of 40,940,005 Shares. The average daily trading volume of the Shares on the TSX (the "ADTV") for the most recently completed six month period was 20,142 Shares. Pursuant to the terms of the Bid, EcoSynthetix will not acquire on any given trading day more than 25% of the ADTV for the most recently completed six-month period, being 5,035 Shares, other than block purchase exceptions. All purchases made pursuant to the Bid will be made on the open market through the facilities of the TSX, other designated exchanges and/or alternative Canadian trading systems or by such other means as may be permitted by applicable Canadian securities laws and EcoSynthetix will cancel any such Shares purchased pursuant to the Bid. The price that the Company will pay for Shares in open market transactions will be the market price at the time of purchase. The Bid has been authorized by the Board of Directors of EcoSynthetix to allow EcoSynthetix to purchase Shares if in the opinion of management the purchases can be made on terms which will enhance the value of the remaining outstanding Shares. EcoSynthetix is undertaking the Bid because it believes that the market may undervalue the Shares of EcoSynthetix from time to time and that the Shares may trade in a price range which may not adequately reflect the value of the Shares in relation to the business, assets and future prospects of EcoSynthetix from time to time. Pursuant to the previous notice of intention to conduct a normal course issuer bid, under which the Company sought and received approval from the TSX to purchase up to 4,008,032 Shares, 589,300 Shares were purchased for the period from May 15, 2024 to May 1, 2025. Such Shares were purchased in open market transactions at the market price of the Shares at the time of acquisition. The volume weighted average price paid for such Shares was $4.28 per Share. In connection with the Bid, the Company also announced that it has implemented an automatic securities purchase plan (the "Automatic Repurchase Plan") with its designated broker in order to facilitate the purchases of its Shares under the Bid. Under the Automatic Repurchase Plan, the Company's designated broker may purchase Shares pursuant to the NCIB at times when the Company ordinarily would not be active in the market due to regulatory restrictions or self-imposed blackout periods. Purchases made pursuant to the Automatic Repurchase Plan, if any, will be made by the Company's designated broker based upon the parameters prescribed by the TSX, applicable Canadian securities laws and the terms of the written agreement between the Company and its designated broker. The Automatic Repurchase Plan constitutes an "automatic plan" for the purposes of applicable Canadian securities legislation and has been pre-cleared by the TSX. The Automatic Repurchase Plan will be effective as of May 15, 2025. About EcoSynthetix Inc. ( offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. The Company's flagship products, DuraBind™, Surflock™, Bioform™ and EcoSphere®, are used to manufacture wood composites, personal care, paper, tissue and packaging products, and enable performance improvements, economic benefits and carbon footprint reduction. The Company is publicly traded on the Toronto Stock Exchange (T:ECO). Forward-Looking StatementsCertain statements in this press release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of the Company, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward looking statements. The forward-looking statements in this press release include, but are not limited to, statements regarding the number of Shares to be purchased under the Bid, if any, the price to be paid by the Company for any Shares purchased under the Bid, if any, and the timing of any such purchases. These statements reflect our current views regarding future events and operating performance, are based on information currently available to us, and speak only as of the date of this press release. These forward-looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Those assumptions and risks include, but are not limited to, the Company's ability to successfully allocate capital as needed and to develop new products, as well as the fact that our results of operations and business outlook are subject to significant risk, volatility and uncertainty. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including the factors identified in the "Risk Factors" section of the Company's Annual Information Form dated February 18, 2025. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, we do not intend and do not assume any obligation to update these forward-looking statements. SOURCE EcoSynthetix Inc. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-05-2025
- Business
- Yahoo
EcoSynthetix First Quarter 2025 Earnings: US$0.01 loss per share (vs US$0.011 loss in 1Q 2024)
Revenue: US$4.04m (down 14% from 1Q 2024). Net loss: US$606.5k (loss narrowed by 2.1% from 1Q 2024). US$0.01 loss per share (improved from US$0.011 loss in 1Q 2024). We check all companies for important risks. See what we found for EcoSynthetix in our free report. All figures shown in the chart above are for the trailing 12 month (TTM) period EcoSynthetix shares are down 5.9% from a week ago. While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on EcoSynthetix's balance sheet. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
