Kawn today provided an intraday update on Martello, which he does not cover and does not have a target price for.
This morning, Martello reported its Q4 and fiscal 2019 results. In the fourth quarter, the company posted an EBITDA loss of $827,000 on revenue of $3.27-million, a topline that was up 99 per cent over the same period lat year.
“Steady and strong revenue growth in the 2019 fiscal year, both organically and through acquisitions has created the foundation to accelerate Martello’s business,” said John Proctor, president and chief executive officer of Martello. “Having invested significantly in people and systems, Martello is now well positioned to target and acquire accretive assets and drive responsible growth going forward.”
Kwan says Martello is in a much better position than it was mere weeks ago.
Co-Chairman and former CEO Bruce Linton provided commentary on the conference call, including how he now has more time to help MTLO execute on its growth plans and capital markets strategy given his recent departure from Canopy Growth. In particular, he talked about helping accelerate MTLO’s M&A plans, with several targets being currently evaluated. With the Savision integration now complete and MTLO having a much stronger currency (thanks to a tripling of the share price since Mr. Linton’s departure from Canopy Growth less than two weeks ago), MTLO is in a better position to make an acquisition (in the near-term).
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Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
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