MONTREAL, May 14, 2024 (GLOBE NEWSWIRE) -- NanoXplore Inc. ("NanoXplore" or "the Corporation") (TSX:GRA), a world-leading graphene company, reported today financial results for the three and nine-month periods ended March 31, 2024 and 2023. All amounts in this press release are in Canadian dollars, unless otherwise stated. Highlights Record Total revenues of $33,867,747 in Q3-2024 compared to $31,580,560 in Q3-2023, representing a 7% increase; Record Gross margin on revenues from customers of 20.9% in Q3-2024 compared to 18.3% in Q3-2023 and of 20.1% for YTD 2024 compared to 16.1% for YTD 2023; Record Adjusted EBITDA1 of $1,259,990 in Q3-2024 compared to $469,975 in Q3-2023 for the advanced materials, plastics and composite products segment; Adjusted EBITDA of -$688,022 in Q3-2024 compared to-$18,270 in Q3-2023 for the battery cells segment (VoltaXplore initiative); Overall Adjusted EBITDA in Q3-2024 of $571,968 compared to $451,705 in Q3-2023 and overall adjusted EBITDA of $30,830 for YTD 2024 compared to -$1,384,027 for YTD 2023; Total liquidity of $40,149,612 as at March 31, 2024, including cash and cash equivalents of $29,794,612; Total long-term debt of $5,515,205 as at March 31, 2024, down by $2,360,683 compared to June 30, 2023. NanoXplore maintains its annual revenue guidance of $130 million for the year ending June 30, 2024. Overview Pedro Azevedo, Chief Financial Officer, stated: "After a challenging first half of the year impacted by strikes at some of our customers' plants, I am pleased with the results of our 3rd quarter and expect an even stronger 4th quarter to finish our fiscal year.  The operational improvements and strong growth in our graphene-enhanced products over the last several quarters coupled with the new expanded credit facility have us well positioned for a strong start to our fiscal 2025 and beyond." Soroush Nazarpour, President & Chief Executive Officer, said: "I am very pleased with the performance of NanoXplore's team in the quarter as we delivered record results in terms of revenues, gross margin and EBITDA. It is my expectation for the fundamental drivers behind this performance to continue into Q4 and beyond. Our vision of vertical integration is bearing fruit and demand for our Advance Material Segment solutions keeps getting stronger, leading to market share gain." Reporting Segments results NanoXplore reports its financials in two distinct segments: Advanced materials, plastics and composite products and Battery cells.   Q3-2024 Q3-2023 Variation YTD 2024 YTD 2023 Variation   $ $ $ % $ $ $ %                   From Advanced materials, plastics and composite products Revenues 33,866,162   31,580,560   2,285,602   7 % 91,839,059   90,538,207   1,300,852   1 % Non-IFRS Measure *                 Adjusted EBITDA 1,259,990   469,975   790,015   168 % 1,829,870   (1,365,757 ) 3,195,627   234 %                   From Battery cells Revenues 1,585   —