Vancouver, British Columbia--(Newsfile Corp. - January 27, 2025) - Telescope Innovations Corp. (CSE: TELI) (OTCQB: TELIF) ("Telescope" or the "Company"), a developer of advanced technologies and services for the global pharmaceutical and chemical industries, reports financial results for the fiscal quarter ended November 30, 2024 (Q1). The Company generated revenues of $1.2 million during this period, driven by strong sales performance and market adoption of its flagship product, DirectInject-LC, and an adjusted EBITA loss of $103K. Revenues have been strategically reinvested to drive operational growth, and financial results are consistent with management's budget expectations and FY 2025 targets.
FINANCIAL HIGHLIGHTS OF THE FISCAL QUARTER ENDED NOVEMBER 30, 2024
All values are represented in CAD.
- Revenues of $1,204,197 (versus $1,504,852 for the comparable period in FY 2024)
- Expenses of $1,547,734 (versus$1,289,852 for the comparable period in FY 2024)
- Adjusted EBITA loss of $103,177 (versus $505,171 earnings for the comparable period in FY 2024)
OPERATIONAL HIGHLIGHTS
FLAGSHIP PRODUCT DISTRIBUTION AND EXPANSION OF CUSTOMER BASE. Telescope successfully delivered all product orders under its multi-year global distribution agreement with Mettler Toledo for DirectInject-LC. Product demonstrations in the US, Japan, Belgium, and Slovenia expanded market presence, while the Japan launch created immediate opportunities. Mettler Toledo also initiated a marketing campaign in November to further drive product adoption.
COLLABORATIVE RESEARCH WITH PFIZER ON SELF-DRIVING LABS. Under its multi-year agreement with Pfizer, Telescope advanced research activities to develop Self-Driving Laboratories (SDLs). Powered by artificial intelligence, advanced process analytical technology, and robotics, SDLs can accelerate pharmaceutical research and development by up to 100 times compared to traditional methods. Telescope also achieved Certified Systems Integrator (CSI) status for Universal Robots systems, enhancing its ability to deploy SDLs effectively, train clients on their use, and ensure seamless adoption of this transformative technology.
VALUE DEMONSTRATION OF IP FOR PRODUCING BATTERY RAW MATERIALS. The Company demonstrated production of over 99.5% pure lithium carbonate from Altillion brines using its proprietary ReCRFT technology, significantly reducing the costs and complexity of lithium refining. Telescope is now building a pilot plant in Vancouver to conduct scale-up engineering studies and demonstrate continuous operation to potential ReCRFT licensing customers. Telescope also published peer-reviewed research in Digital Discovery, showcasing how AI-driven optimization couples with ReCRFT, achieving lithium carbonate yields exceeding 83% and improving the sustainability of lithium processing.
"Our Q1 results position Telescope firmly on track to achieve our technical, strategic, and financial targets for the year," commented Henry Dubina, Telescope CEO. "The combination of strong product sales, groundbreaking collaborations such as our work with Pfizer on Self-Driving Labs, and the advancement of proprietary technologies such as ReCRFT highlights our ability to deliver value across multiple industries. As we continue to scale operations and reinvest in growth, we remain confident in our capacity to drive innovation and sustain our momentum throughout 2025."
Readers are encouraged to review the full financial statements and accompanying management discussion and analysis for the fiscal year ended November 30, 2024, both of which are available under the profile for the Company on SEDAR+ (www.sedarplus.ca).
About Telescope
Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The Company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency, and data quality. Our aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability.
On behalf of the Board,
Telescope Innovations Corp.
Henry Dubina, Chief Executive Officer
E: hdubina@telescopeinn.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Telescope Innovations Corp.
