Vancouver, BC – February 14, 2023 – Hypercharge Networks Corp. (NEO: HC; FSE: PB7) (the “Company” or “Hypercharge”), a leading, smart electric vehicle (EV) charging solutions provider, is announcing the release of its condensed interim consolidated financial statements for the four months ended December 31, 2022, related management discussion and analysis, and recent business highlights1. These documents will be posted on SEDAR and Hypercharge’s website at https://hypercharge.com/investors/. All figures are preliminary, unaudited, and subject to final adjustment.
Over the four-month period ending December 31, 2022, the Company’s gross revenue surpassed C$1.2 million, marking a significant milestone in its growth journey. This calendar quarter (three-month period ending December 31, 2022) also marked the Company’s first quarter with revenue exceeding C$1.0 million ($1,019,638). As at December 31, 2022, the Company finished the period with C$4.1 million of cash on hand.
“I am pleased to report a strong quarter at Hypercharge and our Q3 2023 financial results reflect our customers’ growing confidence in the Company to provide sustainable, convenient charging solutions,” said David Bibby, President and CEO of Hypercharge. “With our expanding network of public and private charging stations, we are leading the way in this rapidly growing industry, delivering value to our customers and shareholders.”
Q3 2023 Business and Pipeline Highlights2:
- Completed an initial public offering with common shares trading on the NEO Exchange under the symbol “HC” in Canada, and subsequently on the Frankfurt Stock Exchange under the symbol “PB7”.
- Closed deals across eight provinces in Canada and one state in the US.
- Sold over 1,400 new charging ports across North America and continues to build a strong pipeline of opportunities.
- Delivered its first Level 3 DC Fast Charging station.
- Established a new partnership with ParkCo to develop integrations between the Hypercharge and ParkCo platforms.
1The Company changed its fiscal year end from August 31 to March 31, thereby requiring a four-month stub reporting period between the Company’s old August 31, 2022 fiscal year end and December 31, 2022.
2All figures are preliminary, unaudited, and subject to final adjustment.
Hypercharge Networks Corp. (NEO: HC; FSE: PB7) is a leading provider of smart electric vehicle (EV) charging solutions that offers turnkey technology to multi-unit residential and commercial buildings, fleet operations, and other rapidly growing sectors. Driven by its mission to accelerate EV adoption and enable the shift towards a carbon neutral economy, Hypercharge is committed to providing seamless, simple charging solutions by offering industry-leading equipment and a robust network of public and private charging stations. Learn more: https://hypercharge.com/
On behalf of the company,
Hypercharge Networks Corp.
David Bibby, President & CEO
Kyle Green | Senior Marketing Manager
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects” and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning the Company’s strong pipeline of opportunities. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the respective management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
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