LeddarTech Holdings Inc.

For fiscal Q2 2025 ended March 31, 2025, revenue from continuing operations was $239,000, up 96% from $122,000 a year ago. EBITDA loss was $8.4 million versus a $14 million loss in the prior-year quarter, adjusted EBITDA loss was $12 million versus a loss of $8.7 million, and net loss from continuing operations was $16 million versus $17 million. The company ended the quarter with $9.2 million in cash and $105 million in short- and long-term debt, and it raised approximately $1.5 million by selling about 600,000 shares under its standby equity purchase agreement. Looking ahead, management did not give revenue or EPS guidance; instead, it said its second-half priorities are securing capital, executing the announced OEM design win, and pursuing additional design wins this year.

Frantz Saintellemy framed the quarter as a period of strong business-development progress and positioned LeddarTech as a software-first ADAS/autonomous driving platform with advantages in accuracy, cost, and scalability. He emphasized validation milestones such as more than 110 live on-road demonstrations, positive CES feedback, the trucking OEM design win, and what he described as a growing pipeline and expanding partner ecosystem. His tone was optimistic and commercialization-focused, with LeddarSim presented as a new high-margin, scalable opportunity that could reduce data and annotation needs substantially.

Chris Stewart focused on the financial reality: modest revenue, continued operating losses, and the need to manage liquidity carefully. He cited revenue of $239,000, EBITDA loss of $8.4 million, adjusted EBITDA loss of $12 million, and net loss of $16 million, noting higher R&D expense because the company is no longer capitalizing a substantial portion of R&D. On the balance sheet, he highlighted $9.2 million in cash, $105 million in debt, the $1.5 million raised from the equity purchase agreement, and the April 1 amendments to the bridge loan and Desjardins facility that require a refinancing/recapitalization plan by May 16, 2025; he said the company has engaged a financial adviser and is exploring all alternatives.

There was no analyst Q&A on this call. Management therefore did not address follow-up questions about demand, margin trajectory, dilution, debt terms, or timing beyond the prepared remarks. The most notable additional disclosure was that the company expects to report fiscal third quarter 2025 results in mid-August but will not hold a conference call for that quarter.