Smartwell Technology Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Revenue	0.82	2.48	2.12	1.65
Revenue Growth (YoY)	-50.20%	17.04%	28.57%	-
Cost of Revenue	0.24	0.38	0.27	0.22
Gross Profit	0.58	2.1	1.85	1.43
Selling, General & Admin	0.57	0.45	0.53	0.56
Research & Development	1.58	2.28	1.38	1.05
Other Operating Expenses	0.02	0.02	-	-
Operating Expenses	2.22	2.76	2.3	1.57
Operating Income	-1.64	-0.65	-0.44	-0.14
Interest Expense	-0.01	-0	-	-
Other Non Operating Income (Expenses)	0.05	-0.14	-0.15	0.06
Pretax Income	-1.6	-0.8	-0.59	-0.08
Income Tax Expense	-	-	0.02	0
Net Income	-1.6	-0.8	-0.62	-0.08
Net Income to Common	-1.6	-0.8	-0.62	-0.08
Shares Outstanding (Basic)	97	94	93	47
Shares Outstanding (Diluted)	97	94	93	47
Shares Change (YoY)	106.83%	1.06%	98.22%	-
EPS (Basic)	-0.02	-0.01	-0.01	-0.00
EPS (Diluted)	-0.02	-0.01	-0.01	-0.00
Gross Margin	70.79%	84.87%	87.45%	86.86%
Operating Margin	-200.40%	-26.31%	-20.96%	-8.74%
Profit Margin	-194.77%	-32.08%	-29.21%	-4.94%
EBITDA	-1.59	-0.64	-0.43	-0.13
EBITDA Margin	-194.01%	-25.78%	-20.34%	-7.93%
D&A For EBITDA	0.05	0.01	0.01	0.01
EBIT	-1.64	-0.65	-0.44	-0.14
EBIT Margin	-200.40%	-26.31%	-20.96%	-8.74%
Revenue as Reported	0.82	2.48	2.12	1.65
Advertising Expenses	-	-	-	0.19