Westport Announces Annual General and Special Meeting and Timing of Q1 2025 Financial Results

Westport Announces Annual General and Special Meeting and Timing of Q1 2025 Financial Results

Westport Fuel Systems Inc. (TSX: WPRT Nasdaq: WPRT) ("Westport" or the "Company") announces that the Company will release Q1 2025 financial results on Tuesday, May 13, 2025, after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Wednesday, May 14, 2025.

Time: 10:00 a.m. ET (7:00 a.m. PT)
Call Link: https://register-conf.media-server.com/register/BI73bcac200e5f4652873668cf803d72ed
Webcast: https://investors.wfsinc.com

Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

The webcast will be archived on Westport's website and a replay will be available at https://investors.wfsinc.com .

Annual General and Special Meeting

Westport will host its 2025 Annual General and Special Meeting (the "Meeting") virtually on May 15, 2025 at 10:00 a.m. PT (1:00 p.m. ET).

To streamline the virtual meeting process, Westport encourages shareholders to vote in advance of the Meeting using the voting instruction form or the form of proxy which has been shared with shareholders with the Meeting materials. Further instructions on voting and accessing the meeting are contained in the Management Information Circular under "Section 1: Voting" – upon receipt, please review these materials carefully.

Registered Shareholders and duly appointed proxyholders can attend the meeting online at https://meetnow.global/MD2JR55 to participate, vote, or submit questions during the meeting's live webcast.

About Westport Fuel Systems

At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

Investor Inquiries:
Investor Relations
T: +1 604-718-2046
E: invest@wfsinc.com


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Advanced, clean fuel systems and components that deliver both economic and environmental benefits

Westport Publishes Annual General and Special Meeting Results

Westport Publishes Annual General and Special Meeting Results

Westport Fuel Systems Inc. ("Westport" or the "Company") (TSX:WPRT Nasdaq:WPRT), today held its Annual General and Special Meeting of Shareholders (the "Meeting") in a virtual format. Shareholders approved all resolutions presented at the meeting including the election of all nominated directors for the ensuing year, the appointment of KPMG LLP as the Company's auditors for the fiscal year, the advisory vote on executive compensation, and the sale of Westport Fuel Systems Italia S.r.l in accordance with the terms of the sale and purchase agreement dated as of March 30, 2025.

A summary of the results are as follows:

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Westport Fuel Systems Reports First Quarter 2025 Financial Results

Westport Fuel Systems Reports First Quarter 2025 Financial Results

Westport Fuel Systems Inc. (" Westport ") (TSX:WPRT Nasdaq:WPRT) reported financial results for the first quarter ended March 31, 2025, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.

"We continue to make significant strides in transforming Westport and sharpening our strategic focus. Our priorities remain clear: driving success through Cespira, our HPDI joint venture with Volvo Group; pursuing operational excellence through initiatives to streamline processes and reduce costs; and positioning Westport at the forefront of the alternative fuel shift.

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Please note: It is important not to misrepresent by stating BNN Bloomberg is featuring your company. BTV is featuring your company on the BNN Bloomberg Channel.

Watch on BNN Bloomberg
Wednesday, May 7 at 7:30 PM EST
Saturday, May 10 at 8:00 PM EST

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Westport Announces Lock-Up Agreements in Support of the Light-Duty Divestment Transaction

Westport Announces Lock-Up Agreements in Support of the Light-Duty Divestment Transaction

Westport Fuel Systems Inc. ("Westport" or the "Company") (TSX:WPRT Nasdaq:WPRT), has entered into lock-up agreements with certain of its shareholders, executives and board members representing an aggregate of approximately 2.0 million shares, or 11.4% of the currently issued and outstanding shares, to vote in favour of the special resolution approving the sale of Westport Fuel Systems Italia S.r.l. (the " Lock-Up Agreements ").

"These Lock-Up Agreements are a significant vote of confidence in Westport's strategic direction and growth potential.  I am thankful to our key shareholders and our Board, for their continued support as we execute our plans to reduce the complexity of Westport's business and move forward focusing on providing affordable solutions for hard to decarbonize segments of the heavy-duty truck and industrial application, supported by a strengthened balance sheet," said Dan Sceli, Chief Executive Officer, Westport Fuel Systems."

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Westport Reports Fourth Quarter and Full Year 2024 Results

Westport Reports Fourth Quarter and Full Year 2024 Results

Westport Fuel Systems Inc. ("Westport") (TSX: WPRT Nasdaq: WPRT) today reported financial results for the fourth quarter and year ended December 31, 2024, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.

"The past year has been transformative for Westport as we sharpened our strategic focus, advanced our clean transportation technologies, and enhanced operational efficiencies. We have made significant strides in aligning our operations with our competitive strengths, improving margins, and reinforcing our commitment to delivering cost-effective solutions that drive decarbonization in the transportation sector. We have also transformed our culture to be one built on discipline and excellence, driving a high-performance mindset in everything we do.

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NorthStar Gaming Reports First Quarter 2025 Results

NorthStar Gaming Reports First Quarter 2025 Results

Company Continues Its Record of Solid Revenue Growth and Margin Expansion

NorthStar Gaming Holdings Inc. (TSXV: BET) (OTCQB: NSBBF) ("NorthStar" or the "Company") today announced its financial results for the three months ended March 31, 2025. All dollar figures are quoted in Canadian dollars.

"We are pleased to begin 2025 with another quarter of strong year-over-year growth, with revenue increasing by 32% and gross margin up 58% over Q1 2024," said Michael Moskowitz, Chair and CEO of NorthStar. "At the same time, we continue to effectively manage our major operating expense items which are decreasing as a percentage of revenue. Our results are being driven in part by ongoing product and promotional innovations that reinforce our premium positioning."

Financial Highlights for the First Quarter Ended March 31, 2025 ("Q1 2025"):

  • Revenue1 was $7.8 million in Q1 2025, a 32% increase from $5.9 million in Q1 2024. Revenue in Q1 2025 includes $0.2 million of managed services revenue, which compares to $0.1 million in Q1 2024.
  • Gross Margin was $3.0 million, a 58% increase from $1.9 million in Q1 2024, while the Gross Margin percentage increased to 38.5%, up from 31.5% in Q1 2024.
  • Profit before marketing and other expenses1 was $0.6 million in Q1 2025 compared to a loss of $0.6 million in Q1 2024.
  • General and administrative expense was $2.4 million in Q1 2025, a decrease of 1% from Q1 2024, and represented 31% of revenue compared to 41% a year earlier.
  • Marketing expense of $4.1 million increased 11% over Q1 2024, and represented 52% of revenue compared to 62% in Q1 2024.

Recent Operating Highlights:

  • NorthStar recorded the highest customer retention rate in its history in Q1 2025, driven by its delivery of a superior customer experience, innovative promotions and a focus on high-value players through the NorthStar Elite program.
  • NorthStar increased the number of games offered on its Casino platform by 15% to more than 1,800 games during the first quarter.
  • NorthStar Bets Blackjack VZN went live on March 19, 2025. This innovative multiplayer Blackjack game has the feel of live Blackjack, and reinforces the Company's premium positioning through NorthStar Bets branding.
  • Integrated new product analytical tools to help us measure and track the player journey and accelerate product enhancements and development.
  • On March 20, 2025, NorthStar unveiled the new Spring Tournament Series with premium online tournaments spanning Live Blackjack, Slots and Sports betting. The series builds on innovations developed for last fall's NorthStar Blackjack Championship event.
  • On January 27, 2025, the Company announced that it entered into a credit agreement (the "Credit Agreement") in respect of a senior secured first lien term loan facility providing for loans in an aggregate principal amount of up to $43.4 million CAD (being the approximate equivalent of $30 million USD). The Company expects that the Credit Agreement will strengthen its balance sheet and enable it to accelerate its growth initiatives.

Outlook

"We anticipate another year of solid top line growth and margin expansion in 2025, supported by our recently strengthened balance sheet. Major expense items should continue to decline as a percentage of revenue as we realize further operating leverage through the scaling of the business," said Mr. Moskowitz. "We expect the managed services business to help drive revenue growth this year. Looking ahead, the Alberta government recently took another step forward in establishing a regulatory regime to become the second Canadian province to license online gaming as early as the end of this year, and we eagerly await further details."

Restatement of Results

The comparative results for the three months ended March 31, 2024 have been restated in the financial statements and management's discussion & analysis ("Q1 2025 MD&A") for the first quarter ended March 31, 2024 to include additional merchant fees and player bonus expenses which were not captured in the previously published financial statements (please see note 2 of the Financial Statements for the three months ended March 31, 2025).

Additional Information

For additional information, please refer to the Company's condensed consolidated interim financial statements for the three-month period ended March 31, 2025, and the corresponding management's discussion and analysis ("MD&A"). These documents are available on SEDAR+ at www.sedarplus.ca, and on the Company's corporate website at www.northstargaming.ca.

About NorthStar

NorthStar proudly owns and operates NorthStar Bets, a Canadian-born casino and sportsbook platform that delivers a premium, distinctly local gaming experience. Designed with high-stakes players in mind, NorthStar Bets Casino offers a curated selection of the most popular games, ensuring an elevated user experience. Our sportsbook stands out with its exclusive Sports Insights feature, seamlessly integrating betting guidance, stats, and scores, all tailored to meet the expectations of a premium audience.

As a Canadian company, NorthStar is uniquely positioned to cater to customers who seek a high-quality product and an exceptional level of personalized service, setting a new standard in the industry. NorthStar is committed to operating at the highest level of responsible gaming standards.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Non-IFRS Financial Measures

Throughout this document, management uses certain non-IFRS financial measures and supplementary financial measures to evaluate the performance of the Company. The term "Profit/(Loss) before marketing and other expenses" is a non-IFRS financial measure. This measure is not a recognized measure under International Financial Reporting Standards ("IFRS") and does not have a standardized meaning prescribed by IFRS and is, therefore, not necessarily comparable to similar measures presented by other companies. Rather, this measure is provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective and to discuss NorthStar's financial outlook. Accordingly, this measure should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS. We believe that securities analysts, investors and other interested parties frequently use non-IFRS measures, including industry metrics, in the evaluation of companies in our industry. Management also uses non-IFRS measures and industry metrics in order to facilitate operating performance comparisons from period to period, the preparation of annual operating budgets and forecasts and to determine components of executive compensation.

Operating Results

Marketing expenses are a key driver of the business but are completely discretionary. Management considers "Profit/(Loss) before marketing and other expenses" to be a good indication of the extent to which the business' Gross Margin is in excess of its overhead costs, and therefore offsetting some portion of marketing expenses, reflecting improving economies of scale.

$ Millions
(unaudited)
Three months ended
March 31,
2025
March 31,
2024
Revenue$ 7,849$ 5,930
Cost of Revenues4,8304,060
Gross Margin3,0191,870
General and administrative expenses2,4342,449
Profit/(Loss) before marketing and other expenses (1)585(579)
Marketing4,0973,688
Loss before other expenses (1)(3,512)(4,267)
Other expenses2,2882,554
Net loss$ (5,800)$ (6,821)

 

(1) These measures are not defined by IFRS, do not have standard meanings and may not be comparable with other industries or companies.

Beginning in Q1 2025, the Company is no longer disclosing the two non-IFRS measures Total Wagers and Gross Gaming Revenue. These measures no longer reflect the full scope of the Company's business, as both are recorded only in Ontario where the Company owns and operates the licensed iGaming platform Northstarbets.ca. Managed services revenues are generated outside of Ontario through services the Company provides to the Abenaki Council of Wolinak, which owns and operates the iGaming platform Northstarbets.com. As a result of the ongoing growth in the Company's managed services revenue, management believes revenue, gross margin and profit (/loss) before marketing and other expenses are more relevant measures of the Company's progress.

Cautionary Note Regarding Forward-Looking Information and Statements

This communication contains "forward-looking information" within the meaning of applicable securities laws in Canada ("forward-looking statements"), including without limitation, statements with respect to the following: expected performance of the Company's business, the Company's growth plans being fully funded, expansion into new markets and future growth opportunities, and expected benefits of transactions. The foregoing are provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing investors and others to get a better understanding of the Company's anticipated financial position, results of operations, and operating environment. Often, but not always, forward- looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. This forward-looking information is based on management's opinions, estimates and assumptions that, while considered by NorthStar to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward- looking information. Such factors include, among others, the following: risks related to the Company's business and financial position; risks associated with general economic conditions; adverse industry risks; future legislative and regulatory developments; the ability of the Company to implement its business strategies; and those factors discussed in greater detail under the "Risk Factors" section of the Company's most recent annual information form, which is available under NorthStar's profile on SEDAR+ at www.sedarplus.ca. Many of these risks are beyond the Company's control.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents NorthStar's expectations as of the date specified herein, and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

For further information: Company Contact:

Corey Goodman
Chief Development Officer
647-530-2387
investorrelations@northstargaming.ca

Investor Relations:

RB Milestone Group LLC (RBMG)
Northstar@rbmilestone.com

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Bitcoin Well Announces Nostr Integration; Including Bitcoin Purchases Via Direct Message

Bitcoin Well Announces Nostr Integration; Including Bitcoin Purchases Via Direct Message

(TheNewswire)

Bitcoin Well Inc.

Edmonton, Alberta May 27, 2025 TheNewswire - Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence announces a first-of-its-kind Nostr integration to allow Bitcoin Well customers in the USA to purchase bitcoin directly from their Nostr profile.

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Hempalta Provides Update on Strategic Transition, Plant Closure, FCC Loan, and Carbon Credit Progress

Hempalta Corp. (TSXV: HEMP) ("Hempalta" or the "Company"), a Canadian-based innovator in nature-based carbon credits, today provided an update on its ongoing corporate transformation and operational milestones.

As part of its previously announced strategic shift to focus exclusively on its high-growth carbon credit business, Hempalta has completed the wind down and closure of its processing facility in Calgary. The facility has now been vacated and decommissioned.

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AMD Introduces New Radeon Graphics Cards and Ryzen Threadripper Processors at COMPUTEX 2025

Radeon RX 9060 XT brings next-gen gaming experiences and FSR 4 ML-powered upscaling to mainstream users –

– Threadripper 9000 Series and Radeon AI PRO R9700 redefine workstation and high-end desktop performance with full-spectrum compute and local AI processing –

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AMD Announces Agreement to Divest ZT Systems Data Center Infrastructure Manufacturing Business to Sanmina

  • $3 billion in cash and stock, inclusive of a contingent payment of up to $450 million
  • AMD retains ZT Systems' rack-scale AI solutions design and customer enablement expertise to accelerate quality and time-to-deployment for cloud customers
  • Divestiture and preferred NPI manufacturing partnership with Sanmina consistent with intentions announced at the time of ZT Systems acquisition

AMD (NASDAQ: AMD) today announced it has entered into a definitive agreement to sell ZT Systems' U.S.-headquartered data center infrastructure manufacturing business to Sanmina (NASDAQ: SANM), a leading integrated manufacturing solutions company. As part of the transaction, Sanmina becomes a preferred new product introduction (NPI) manufacturing partner for AMD cloud rack and cluster-scale AI solutions. AMD will retain ZT Systems' world-class design and customer enablement teams to accelerate the quality and time-to-deployment of AMD AI systems for cloud customers.

Sanmina will purchase the manufacturing business from AMD for $3 billion in cash and stock, inclusive of a contingent payment of up to $450 million and subject to customary adjustments for working capital and other items. The transaction is expected to close near the end of 2025, subject to regulatory approvals and customary closing conditions. The intent to seek a strategic partner to acquire ZT Systems' world-class data center infrastructure manufacturing business was announced in August 2024 at the time of the original acquisition announcement.

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SANMINA ANNOUNCES ACQUISITION OF DATA CENTER INFRASTRUCTURE MANUFACTURING BUSINESS OF ZT SYSTEMS FROM AMD

Transformational Acquisition Increases Sanmina's Scale and End-Market Exposure to Cloud and AI Infrastructure

Planned Divestiture by AMD Creates Preferred NPI Manufacturing Partnership with Sanmina, a Leading IMS Company

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