Financial outcomes for the fiscal year 2024 announced by LeddarTech detailed
LeddarTech Announces Financial Results for Fiscal Year 2024 and Strengthens Cybersecurity Framework
LeddarTech Holdings Inc., a global software company specializing in AI-based low-level sensor fusion and perception software solutions for Advanced Driver-Assistance Systems (ADAS), autonomous driving (AD), and parking applications, has announced its financial results for the fiscal year 2024.
The company, headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, fortified its cybersecurity framework by achieving ISO/IEC 27001 certification. This certification underscores LeddarTech's commitment to data security and protection.
In 2024, LeddarTech reached several significant milestones. The introduction of LeddarNavigator demonstration vehicles in Europe and China marked a major step forward in the company's global expansion. LeddarTech also responded to RFI/RFQs equivalent to approximately $700 million in software sales value in FYQ4, indicating a strong demand for its technology.
The company's financial report for FY2024 includes two new non-IFRS financial measures: EBITDA (loss) and Adjusted EBITDA (loss). Adjusted EBITDA (loss) is calculated as EBITDA (loss), adjusted for foreign exchange gain (loss), loss (gain) on revaluation of financial instruments carried at fair value, gain or loss on lease modification, share-based compensation, listing expense, transaction costs, restructuring costs, and impairment loss on intangible assets. It's important to note that Adjusted EBITDA (loss) should not be considered an alternative to net loss in measuring performance or used as a measure of cash flow.
LeddarTech also announced a strategic collaboration agreement and a software license agreement with Texas Instruments. Under the license agreement, Texas Instruments has agreed to make advanced royalty payments in three tranches totaling approximately US$10 million.
The company's cash balance as of December 17, 2024, was approximately $20.8 million. As of September 30, 2024, LeddarTech's consolidated cash balance was $5.3 million. Subsequent to the end of the quarter, the company raised approximately C$23.9 million.
LeddarTech's software is available to OEMs and Tier 1-2 suppliers for efficient implementation of automotive and off-road vehicle ADAS solutions. The company's technology applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment for better decision making and safer navigation.
LeddarTech has over 170 patent applications (87 granted) that enhance ADAS, AD, and parking capabilities. Additional information about LeddarTech can be found at www.LeddarTech.com and on LinkedIn, Twitter, Facebook, and YouTube.
Frantz Saintellemy remains President and CEO of LeddarTech in 2025. The company continues to innovate and grow, solidifying its position as a leader in the AI-based sensor fusion and perception software market.
