Latest news with #Ghezzi
Business Wire
2 days ago
- Business
- Business Wire
Kontrol Technologies Announces Second Quarter 2025 Financial Results
TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. ( (OTCQB:KNRLF) (FSE:1K8) Highlights Net Income positive in Q2 Increase in aggregate cash and marketable securities Continued progression of Kontrol BuildX AI platform 'The Company's cash and marketable securities position gives us the necessary resources to accelerate organic growth plans and to complete potential acquisitions,' says Paul Ghezzi, CEO of Kontrol. 'While the Company has not closed any new acquisitions in recent quarters, we have identified targets and continue the process of performing detailed due diligence reviews. We experienced some softness in the market with customers slowing their spending on capex projects, primarily related to tariff risks, however, maintenance and service solution margins have remained strong. We anticipate a recovery of spending on capex projects in the third and fourth quarters. We continue to service approximately 400 commercial buildings.' Q2 2025 and Year to Date Highlights In Q2 2024, the Company completed the sale of the operational net assets of CEM Specialties Inc. and as such revenue and earnings are lower in 2025 compared to the same period in the prior year. As at June 30, 2025 the Company's aggregate cash and marketable securities balance was $11.6 million, an increase of $400,000 from the previous quarter. Revenues for the three months ended June 30, 2025 were $1.3 million, compared to $3.7 million for the same quarter in the prior year; Revenues for the six months ended June 30, 2025 were $2.8 million, compared to $7.4 million for the same period in the prior year. Gross margin for the six months ended June 30, 2025 was 56%, compared to 58% for the same period in the prior year. Net income for the three months ended June 30, 2025 was $230,592 compared to $12.3 million for the same quarter in the prior year; Net income (loss) for the six months ended June 30, 2025 was $(915,240) compared to $12.9 million for the same period in the prior year. Net income (loss) in 2025 includes income from revaluation of marketable securities. Net income in 2024 includes gain on sale of the CEMSI net assets. Adjusted EBITDA for the six months ended June 30, 2025 was negative $(597,553) compared to $440,037 for the same period in the prior year. The Company had no outstanding interest-bearing bank debt at June 30, 2025. Kontrol BuildX AI – New AI Solution As previously announced, the Company has initiated the development of a new AI driven solution for its customers. 'We see a significant addressable market opportunity to integrate, analyze, and operationalize large volumes of data for our customers using AI. We seek to help our customers enhance operational efficiency, support predictive analytics, and drive outcomes to operate a better building,' continues Ghezzi. Corporate Branding The Company is updating its website and social media platforms. The updated branding is anticipated to be completed by the end of August 2025. Normal Course Issuer Bid During the six months ended June 30, 2025, the Company repurchased 1,362,000 common shares for a total of $235,000. Pursuant to the Normal Course Issuer Bid approved by Cboe Canada, Kontrol may purchase, from time to time, over a period of 12 months starting April 14th, 2025, and ending April 13th, 2026, up to 2,757,858 common shares. The Company has 54,529,169 shares outstanding as at June 30, 2025. Q2 2025 and Year to Date Financial Summary Adjusted EBITDA is a non-International Financial Reporting Standards ("IFRS") measure used by management that is not defined by IFRS. Adjusted EBITDA does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Management believes that Adjusted EBITDA provides meaningful and useful financial information as these measures demonstrate the operating performance of the business excluding non-cash charges. "Adjusted EBITDA" is calculated as net income or loss before interest, income taxes, amortization, and depreciation, share based compensation, acquisition related expenses, listing expense, gain or loss on sale of assets, revaluation and impairment of assets. Readers are cautioned that Adjusted EBITDA should not be construed as an alternative to net income as determined under IFRS; nor as an indicator of financial performance as determined by IFRS; nor a calculation of cash flow from operating activities as determined under IFRS; nor as a measure of liquidity and cash flow under IFRS. The Company's method of calculating Adjusted EBITDA may differ from methods used by other companies and, accordingly, the Company's Adjusted EBITDA may not be comparable to similar measures used by any other company. Kontrol Technologies Corp. Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management and accelerate the sustainability of all buildings. Additional information about Kontrol Technologies Corp. can be found on its website at and by reviewing its profile on SEDAR at Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated. However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those customers and potential customers will not be as accepting of the Company's product and service offering as expected; and government and regulatory factors impacting the energy conservation industry. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
The Market Online
09-05-2025
- Business
- The Market Online
Kontrol Technologies unveils new AI building management platform
Kontrol Technologies Corp. (Cboe CA:KNR) announced a significant corporate update, including the launch of its new BuildX AI platform, aimed at transforming how commercial and industrial buildings are managed BuildX AI addresses a gap by connecting with existing HVAC infrastructure and deploying advanced drone and sensor technologies throughout buildings Kontrol confirmed it is actively reviewing multiple acquisition opportunities to expand its market presence and technological capabilities Kontrol Technologies stock (Cboe CA:KNR) last traded at $0.15 Smart building tech firm Kontrol Technologies Corp. (Cboe CA:KNR) announced a significant corporate update, including the launch of its new BuildX AI platform, aimed at transforming how commercial and industrial buildings are managed. Serving over 400 buildings across North America, Kontrol Technologies has long been at the forefront of HVAC solutions and energy efficiency services. With the introduction of BuildX AI, the company is taking a bold step toward integrating advanced analytics and automation into building operations. Reimagining building intelligence Traditionally, the commercial HVAC industry has focused on equipment replacement and routine maintenance cycles. However, this approach often lacks the data-driven insights needed to optimize performance and reduce costs. BuildX AI addresses this gap by connecting with existing HVAC infrastructure and deploying advanced drone and sensor technologies throughout buildings. The platform empowers building owners and asset managers with real-time, actionable data, enabling smarter capital budgeting, predictive maintenance, and improved operational efficiency. 'BuildX AI is designed to be the brain of the building,' Paul Ghezzi, CEO of Kontrol Technologies said in a news release. 'It's about giving operators the tools they need to make informed decisions, reduce emissions, and enhance tenant comfort.' Growth and acquisition plans In addition to the platform launch, Kontrol confirmed it is actively reviewing multiple acquisition opportunities to expand its market presence and technological capabilities. These potential deals remain subject to customary due diligence and the execution of definitive agreements. The company stated it will provide further updates as these discussions progress. CEO loan agreement As part of its corporate disclosures, Kontrol also announced a loan agreement with CEO Ghezzi. The company has agreed to loan Ghezzi a principal amount of C$680,000, repayable within one year at the Canada Revenue Agency's prescribed interest rate. This transaction qualifies as a 'related party transaction' under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. However, it is exempt from formal valuation and minority shareholder approval requirements, as the loan's fair market value does not exceed 25 per cent of Kontrol's market capitalization. With BuildX AI poised to reshape how buildings are managed and a strategic eye on growth through acquisitions, Kontrol Technologies is positioning itself as a key innovator in the smart building sector. As the company continues to evolve, stakeholders will be watching closely for further developments in its technology roadmap and corporate strategy. Take Kontrol Kontrol contributes to smart buildings and cities through the internet of things (IoT), cloud and software-as-a-service (SaaS) technology. Its solutions and services improve energy management, monitor continuous emissions and accelerate sustainability. Kontrol Technologies stock (Cboe CA:KNR) last traded at $0.15. Join the discussion: Find out what everybody's saying about this stock on the Kontrol Technologies Stock Forum, and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Business Wire
08-05-2025
- Business
- Business Wire
Kontrol Technologies Launches BuildX AI Platform and Announces Loan Agreement
TORONTO--(BUSINESS WIRE)-- Kontrol Technologies Corp. ( (OTCQB:KNRLF) (FSE:1K8) ("Kontrol Technologies" or "Kontrol" or "Company") provides corporate update and announces new BuildX AI platform for commercial and industrial buildings. The Company serves over 400 commercial and industrial buildings with HVAC solutions and services. It has launched BuildX AI, a new platform designed to improve how building owners and operators interact with their buildings and HVAC systems. Traditionally, the industry focuses on equipment replacement and maintenance cycles, but this approach often lacks efficient data integration and analytics to improve how buildings and HVAC assets are managed. BuildX AI addresses this by connecting with existing equipment and incorporating advanced drone technology and sensors throughout buildings. Asset managers and owners will gain much needed insights and actionable data to improve operations and capital budgeting. "AI enables us to process vast amounts of data and deliver actionable insights for better asset management and streamlined operations," said Paul Ghezzi, CEO of Kontrol. "We are in the early stages of growing our AI platform and are planning multiple customer pilots over the next six months." The Company will provide an update on its pilots as they are completed. The Company continues to review multiple potential acquisition opportunities. The potential acquisitions are subject to customary due diligence and definitive agreements. The Company will provide further details subject to reaching definitive agreements. Loan Agreement The Company further announced that it has entered into loan agreement dated May 2nd, 2025 (the ' Loan Agreement ') pursuant to which the Company has agreed to loan Paul Ghezzi, CEO of the Company, the principal amount of $680,000 (the ' Loan '). The Loan is repayable within one year and will bear interest at the CRA prescribed rate. The Loan constitutes a 'related party transaction' pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (' MI 61-101 '). The transaction is exempt from the formal valuation and minority securityholder approval requirements of MI 61-101 as the fair market value of the Loan does not exceed 25% of the Company's market capitalization, calculated in accordance with MI 61-101. The Loan was unanimously approved by the directors of the Company entitled to vote thereon, which consisted of all directors of the Company except for Mr. Ghezzi who abstained from voting. Kontrol Technologies Corp. Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings. Additional information about Kontrol Technologies Corp. can be found on its website at and by reviewing its profile on SEDAR at Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated. However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those customers and potential customers will not be as accepting of the Company's product and service offering as expected; and government and regulatory factors impacting the energy conservation industry. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
