T 
48.50
-1.52%
Close of 9 Nov 2026, in CAD
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At a glance
Figures in CAD, from our data supplier.
Revenue
C$57.7m
FY2015FY2024
Net income
−C$7.7m
FY2015FY2024
Free cash flow
−C$14.5m
FY2015FY2024
Shareholders' equity
C$92.1m
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$57.7m | C$60.0m | C$28.1m | C$12.8m | C$8.6m | C$25.8m | C$16.8m | C$18.0m | C$8.4m | C$5.3m |
| Operating income | −C$15.6m | −C$337,000 | C$5.8m | −C$610,000 | −C$2.9m | C$3.8m | C$566,000 | C$1.3m | −C$1.6m | −C$3.3m |
| Net income | −C$7.7m | C$26.5m | C$5.2m | C$8.3m | −C$22.3m | C$2.2m | C$2.7m | −C$103,000 | −C$1.2m | −C$3.8m |
| Diluted earnings per share | -0.28 | 0.91 | 0.18 | 0.56 | -2.05 | 0.20 | 0.25 | -0.01 | -0.11 | -0.35 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | C$390.8m | C$238.7m | C$203.9m | C$75.4m | C$34.4m | C$55.1m | C$54.0m | C$50.8m | C$45.9m | C$40.9m |
| Cash and short-term investments | C$139.9m | C$50.3m | C$1.8m | C$25.5m | — | — | — | — | — | — |
| Total liabilities | C$298.7m | C$142.4m | C$132.5m | C$10.1m | C$11.5m | C$10.2m | C$12.2m | C$12.6m | C$8.7m | C$3.6m |
| Debt | C$138.5m | C$244,000 | C$21.6m | C$200,000 | — | — | C$2.1m | C$4.3m | — | — |
| Shareholders' equity | C$92.1m | C$96.4m | C$71.4m | C$65.3m | C$22.9m | C$44.9m | C$41.9m | C$38.2m | C$37.2m | C$37.3m |
| Shares outstanding | 27m | 29m | 29m | 15m | 11m | 11m | 11m | 11m | 11m | 11m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | C$6.2m | C$15.2m | C$9.3m | C$4.0m | C$2.4m | C$13.0m | C$9.8m | C$9.5m | C$2.3m | C$1.2m |
| Capital spending | −C$20.8m | −C$24.9m | −C$17.1m | −C$10.4m | −C$7.9m | −C$12.9m | −C$33.1m | −C$22.3m | −C$13.5m | −C$3.0m |
| Free cash flow | −C$14.5m | −C$9.7m | −C$7.8m | −C$6.4m | −C$5.5m | C$110,000 | −C$23.3m | −C$12.8m | −C$11.2m | −C$1.7m |
Latest quarters
By quarter end
| Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | C$93.8m | C$58.4m | C$16.3m | C$15.0m | C$13.8m | C$12.6m | C$16.4m | C$19.6m |
| Operating income | C$18.5m | C$2.5m | −C$2.7m | −C$4.4m | −C$4.5m | −C$5.5m | −C$1.1m | C$2.8m |
| Net income | C$24.8m | C$188.6m | −C$5.3m | −C$6.0m | −C$2.5m | C$1.3m | −C$557,000 | C$3.5m |
| Diluted earnings per share | 0.75 | 5.77 | -0.19 | -0.22 | -0.09 | 0.04 | -0.02 | 0.12 |
| Total assets | C$2.24bn | C$2.21bn | C$394.2m | C$390.8m | C$254.4m | C$223.2m | C$237.6m | C$238.7m |
| Cash and short-term investments | C$213.8m | C$192.2m | C$135.7m | C$139.9m | C$14.8m | C$28.1m | C$39.7m | C$50.3m |
| Debt | C$159.1m | C$160.7m | C$138.6m | C$138.5m | C$10.3m | C$253,000 | C$249,000 | C$244,000 |
| Shareholders' equity | C$312.6m | C$284.3m | C$88.6m | C$92.1m | C$97.1m | C$98.0m | C$95.8m | C$96.4m |
Financial ratios
Data as of 4 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 101.1% | -26.3% | -0.5% | 17.6% | 48.4% | -235.1% |
| Net margin | 111.1% | -12.2% | 40.9% | 15.4% | 46.8% | -259.0% |
| Return on equity | 72.0% | -8.4% | 27.6% | 7.3% | 12.8% | -97.4% |
| Return on assets | 12.5% | -2.0% | 11.1% | 2.6% | 11.1% | -64.8% |
| Free cash flow yield | 8.4% | 1.5% | 2.0% | 1.4% | 0.8% | 1.4% |
| Revenue growth | 351.0% | -2.9% | 90.3% | 91.2% | 107.0% | -66.6% |
| Earnings growth | -4192.0% | -129.1% | 406.9% | -37.2% | -137.4% | -1107.4% |
| Current ratio | 0.94x | 4.68x | 2.10x | 1.23x | 3.71x | 0.23x |
| Debt to equity | 0.74x | 1.50x | 0.00x | 0.30x | 0.00x | 0.18x |
| Equity ratio | 17.3% | 23.6% | 40.4% | 35.0% | 86.6% | 66.5% |
| Interest coverage | 15.61x | -37.04x | -0.08x | 60.55x | 29.66x | -68.67x |
| Buybacks as a share of market value | -18.9% | 9.1% | -6.1% | -8.3% | -139.3% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 65.3% | 17.5% | 25.6% |
| Operating income | 194.9% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -13.6% | -6.8% | -5.1% | -4.0% |
| Net margin | 16.0% | 20.4% | 6.4% | 5.4% |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -49.3 | 4.3 | 11.8 | 5.8 | -0.7 | 17.0 | 16.4 |
| Price to sales | 6.6 | 1.9 | 2.2 | 3.8 | 1.7 | 1.5 | 2.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 23 Dec 2021
- 10-to-1 reverse split · 19 Oct 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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