Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
D2L Inc. (DTOL-T) reported revenue of US$41.9-million for its first quarter ended April 30, up 21 per cent from a year ago.
Its loss for the period decreased to US$4.8-million, compared with a loss for the period of $34.4-million in the same quarter last year.
“The year-over-year improvement was largely the result of the $32.3-million fair value loss on the redeemable convertible preferred shares that was recognized in the prior period, with no corresponding impact in the current period,” the company stated.
The company also updated its previous guidance for the 12 months ended Jan. 31, 2023 “to reflect lower revenue growth and reduced adjusted EBITDA loss.”
It’s expecting total revenue in the range of US$175-million to US$178-million, implying year-over-year growth of 15 to 17 per cent. Previous guidance was in the range of US$179-million to US$182-million, the company stated.
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Probe Metals Inc. (PRB-X) announced that it has increased the size of its previously announced non-brokered financing with Quebec institutional funds to total proceeds of $10.5-million, which includes six million units at $1.75 each. The proceeds will be used to further explore and develop the company’s assets in Quebec, it stated in a release.
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Andrew Peller Ltd. (ADW.A-T); ADW.B-T) announced the appointment of Paul Dubkowski as its chief financial officer and executive vice-president of information technology (EVP, IT), effective July 11.
Steve Attridge, current CFO and EVP, IT will remain with the company to help transition his replacement “and continue to lead the company’s digital and business process transformation,” the company stated.
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Transat A.T. Inc. (TRZ-T) reported revenue of $358.2-million for its second quarter ended April 30, up from $7.6-million a year ago. The result was in line with expectations for revenue of $358.3-million, according to S&P Capital IQ.
“When the effect of Omicron subsided at the end of February, operations and sales rebounded strongly, allowing us to end the quarter on a very encouraging note and generate revenues of $358 million for the period. We foresee a strong recovery and will continue to implement all the measures necessary to capitalize on it,” stated Annick Guérard, CEO of Transat.
Its net loss attributable to shareholders amounted to $98.3-million or $2.60 per share for the quarter, compared with a loss of $69.6 million or $1.84 per share a year earlier. Adjusted EPS came in at a loss of $2.95 compared with a loss of $2.74 a year ago. The expectation was for an adjusted loss of $2.27 per share in the latest quarter.
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