Toronto, Ontario--(Newsfile Corp. - November 26, 2025) - Eddy Smart Home Solutions Ltd. (TSXV: EDY) ("Eddy" or the "Company") is pleased to announce its financial results for the three and nine months ended September 30, 2025.
Q3 2025 Highlights
Growth in In-Building Devices
Eddy increased its number of in-building devices by approximately 19%, from 105,432 as of September 30, 2024, to 125,832 as of September 30, 2025. This growth reflects strong market traction and increasing adoption of Eddy's technology and is expected to contribute to future revenue expansion.
Revenue
Revenue for the three months ended September 30, 2025, increased by $523,382 (73%) to $1,244,076, compared with $720,694 in the same period of the prior year.
For the nine months ended September 30, 2025, revenue increased by $869,712 (35%) to $3,379,264, compared with $2,509,552 for the same period in 2024.
Operational Revenue
Operational revenue is a non-IFRS measure that represents total billings under customer contracts, including monthly monitoring subscriptions, equipment rentals and sales, project management services, and installation activities.
For the three months ended September 30, 2025, operational revenue increased by $464,279 (27%) to $2,188,275, compared with $1,723,996 in the same period of the prior year.
For the nine months ended September 30, 2025, operational revenue increased by $1,062,000 (19%) to $6,551,066, compared with $5,489,066 for the same period in 2024.
Recurring Billings
Billings for contracted monthly monitoring and equipment represent the average monthly recurring revenue billed to customers ("recurring revenue").
For the three months ended September 30, 2025, recurring revenue totaled $790,452 (2024 - $695,854), which equates to $263,084 per month (2024 - $231,951). This represents a 13% increase over the comparable quarter.
For the nine months ended September 30, 2025, recurring revenue was $2,518,251 (2024 - $2,071,186), which equates to $279,806 per month (2024 - $230,132). This represents a 22% increase over the same period in 2024. The strong performance in the MFR segment aligns with the Company's strategic focus. Most customers are billed monthly, with some billed annually, and this billing mix is reflected in the period-over-period results.
Claim Settlement
During Q3 2025, the claim and counterclaim were settled, with the Company agreeing to pay a total of $350,000. Under the settlement terms, $150,000 was payable upon signing, and the remaining $200,000 will be paid in eight quarterly installments of $25,000 beginning January 1, 2026. The settlement resulted in a recovery of $1,041,431, which has been recorded as a reduction in general and administrative expenses and a corresponding decrease in accounts payable and accrued liabilities.
Net Loss
Net loss for the three months ended September 30, 2025, improved by $855,828 to $76,175, compared with a net loss of $932,033 in Q3 2024.
Net loss for the nine months ended September 30, 2025, improved by $876,718 to $1,841,317, compared with $2,718,035 for the same period in 2024. During 2025, the Company increased investment in recruiting sales professionals as part of its ongoing efforts to build a strong, scalable sales organization. This initiative supports the Company's strategic objective of driving growth and expanding its market presence in the United States.
Basic and Diluted Loss Per Share
Basic and diluted loss per share for the three months ended September 30, 2025, was $0.01, improving from $0.15 in Q3 2024.
Basic and diluted loss per share for the nine months ended September 30, 2025, was $0.30, an improvement from $1.04 for the same period in 2024.
For the three months ended September 30, 2025, the weighted average number of common shares outstanding (basic and diluted) was 6,128,623 (2024 - 6,128,623). For the nine months ended September 30, 2025, the weighted average number of common shares outstanding (basic and diluted) was 6,128,623 (2024 - 2,624,974). On June 28, 2024, the Company completed a non-brokered private placement of 5,333,333 post-consolidation common shares. Prior period share amounts have been retrospectively adjusted to reflect the 100:1 share consolidation.
About Eddy
Eddy is a leading North American provider and developer of smart water metering products and monitoring services for commercial and residential properties. Eddy's solutions help property owners and developers protect, control, and conserve water usage through advanced sensing devices and behavioral learning software. For more information, visit www.eddysolutions.com.
For further details on the company's financial performance, please review our consolidated financial statements and management's discussion and analysis for the years ended December 31, 2024, and 2023, as well as the unaudited condensed consolidated interim financial statements for the three months ended June 30, 2025, and 2024, available on Eddy's SEDAR+ profile at www.sedarplus.ca.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements reflect management's current expectations and are based on assumptions and estimates that involve risks and uncertainties. Actual results may differ materially from those anticipated in the forward-looking statements. Factors that could cause actual results to differ are discussed in the company's most recent management's discussion and analysis under "Risks And Uncertainties," available at www.sedarplus.ca. Eddy undertakes no obligation to update these statements, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Mark Silver
Executive Chairman and Chief Executive Officer
Tel: 416.221.8998
Email: ir@eddysolutions.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276118
SOURCE: Eddy Smart Home Solutions Ltd.