Cost Management2Q24 cost of sales of C$8.0M exceeded C$5.3M of sales due to some rushed deliveries of critical parts for propulsion system units.
Debt And LiquidityExro ended 2Q24 with C$2.0M in cash and C$88.4M in debt, had C$9.6M of available funding from restructured convertible debt after the end of 2Q24, and was working on finalizing a new working capital funding facility; analysts forecast an additional capital raise before the end of 2024.
Financial Performance3Q24 cash burn was C$17.9M, well above the forecast of C$8.8M.