Tantalus Systems Holding Inc.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|
| Total Revenue | 14.2M | 13.1M | 11.9M | 12.6M | 11.6M | -- |
| Operating Revenue | 14.2M | 13.1M | 11.9M | 12.6M | 11.6M | -- |
| Cost Of Revenue | 6.4M | 6.1M | 5.4M | 6.0M | 5.0M | -- |
| Gross Profit | 7.8M | 6.9M | 6.5M | 6.6M | 6.5M | -- |
| Selling General And Administration | 5.1M | 5.0M | 4.9M | 4.2M | 4.4M | -- |
| General And Administrative Expense | 2.5M | 2.2M | 2.1M | 2.4M | 2.0M | -- |
| Research And Development | 1.7M | 1.7M | 1.5M | 1.4M | 1.7M | -- |
| Depreciation And Amortization In Income Statement | 421,000 | 408,000 | 418,000 | 429,007 | 438,000 | -- |
| Operating Expense | 7.3M | 7.1M | 6.8M | 6.0M | 6.5M | -- |
| Operating Income | 523,000 | -203,000 | -343,000 | 569,626 | 73,000 | -- |
| EBIT | 575,000 | -511,000 | -289,000 | 630,874 | 40,000 | -- |
| Interest Expense | 199,000 | 360,000 | 362,000 | 351,355 | 401,000 | -- |
| Interest Expense Non Operating | 199,000 | 360,000 | 362,000 | 351,355 | 401,000 | -- |
| Interest Income | 33,000 | -- | -- | -- | 0.00 | -- |
| Interest Income Non Operating | 33,000 | -- | -- | -- | 0.00 | -- |
| Net Interest Income | -166,000 | -360,000 | -362,000 | -351,355 | -401,000 | -- |
| Other Income Expense | 18,000 | -308,000 | 54,000 | 61,248 | -33,000 | -- |
| Special Income Charges | 0.00 | 16,000 | -- | -- | 0.00 | 0.00 |
| Gain On Sale Of Security | 18,000 | -324,000 | 54,000 | 61,248 | -33,000 | -- |
| Pretax Income | 376,000 | -871,000 | -651,000 | 279,519 | -361,000 | -- |
| Tax Provision | -8,000 | 32,000 | 0.00 | -9,940 | 0.00 | -- |
| Tax Effect Of Unusual Items | 2,700 | -46,200 | 0.00 | 9,187 | 0.00 | -- |
| Net Income From Continuing And Discontinued Operation | 384,000 | -903,000 | -651,000 | 289,459 | -361,000 | -- |
| Net Income From Continuing Operation Net Minority Interest | 384,000 | -903,000 | -651,000 | 289,459 | -361,000 | -- |
| Net Income Including Noncontrolling Interests | 384,000 | -903,000 | -651,000 | 289,459 | -361,000 | -- |
| Net Income Common Stockholders | 384,000 | -903,000 | -651,000 | 289,459 | -361,000 | -- |
| Net Income | 384,000 | -903,000 | -651,000 | 289,459 | -361,000 | -- |
| EBITDA | 996,000 | -103,000 | 129,000 | 1.1M | 478,000 | -- |
| Normalized EBITDA | 978,000 | 205,000 | 75,000 | 998,633 | 511,000 | -- |
| Reconciled Depreciation | 421,000 | 408,000 | 418,000 | 429,007 | 437,000 | -- |
| Basic EPS | 0.01 | -0.02 | -0.01 | -- | -0.01 | -0.02 |
| Diluted EPS | 0.01 | -0.02 | -0.01 | -- | -0.01 | -0.02 |
| Basic Average Shares | 51.3M | 51.1M | 50.8M | -- | 50.8M | 47.2M |
| Diluted Average Shares | 51.3M | 51.1M | 50.8M | -- | 50.8M | 47.2M |
| Total Unusual Items | 18,000 | -308,000 | 54,000 | 61,248 | -33,000 | -- |
| Total Unusual Items Excluding Goodwill | 18,000 | -308,000 | 54,000 | 61,248 | -33,000 | -- |
| Tax Rate For Calcs | 0.15 | 0.15 | 0.00 | 0.15 | 0.00 | -- |
| Normalized Income | 368,700 | -641,200 | -705,000 | 237,398 | -328,000 | -- |
| Depreciation Amortization Depletion Income Statement | 421,000 | 408,000 | 418,000 | 429,007 | 438,000 | -- |
| Diluted NI Availto Com Stockholders | 384,000 | -903,000 | -651,000 | 289,459 | -361,000 | -- |
| Net Income Continuous Operations | 384,000 | -903,000 | -651,000 | 289,459 | -361,000 | -- |
| Net Non Operating Interest Income Expense | -166,000 | -360,000 | -362,000 | -351,355 | -401,000 | -- |
| Other Gand A | 2.5M | 2.2M | 2.1M | 2.4M | 2.0M | -- |
| Other Special Charges | -- | -16,000 | -- | -- | -- | -- |
| Reconciled Cost Of Revenue | 6.4M | 6.1M | 5.4M | 6.0M | 5.0M | -- |
| Selling And Marketing Expense | 2.6M | 2.8M | 2.8M | 1.8M | 2.4M | -- |
| Total Expenses | 13.7M | 13.3M | 12.2M | 12.0M | 11.5M | -- |
| Total Operating Income As Reported | 524,000 | -203,000 | -343,000 | 569,626 | 73,000 | -- |
| Line Item | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|
| Cash And Cash Equivalents | 9.8M | 11.2M | 15.9M | 13.2M | 10.3M | -- |
| Cash Cash Equivalents And Short Term Investments | 9.8M | 11.2M | 15.9M | 13.2M | 10.3M | -- |
| Cash Financial | 9.8M | 11.2M | 15.9M | 13.2M | 10.3M | -- |
| Accounts Receivable | 7.6M | 9.9M | 10.1M | 10.0M | 8.1M | -- |
| Receivables | 7.6M | 9.9M | 10.1M | 10.0M | 8.1M | -- |
| Inventory | 6.2M | 5.3M | 5.0M | 4.8M | 5.3M | -- |
| Other Current Assets | 1.4M | 1.6M | 1.5M | 1.8M | 1.6M | -- |
| Current Assets | 25.0M | 28.0M | 32.6M | 29.9M | 25.4M | -- |
| Gross PPE | 2.7M | 2.7M | 2.7M | 13.6M | 13.5M | -- |
| Accumulated Depreciation | -- | -- | -- | -10.8M | -10.7M | -10.7M |
| Net PPE | 2.7M | 2.7M | 2.7M | 2.8M | 2.8M | -- |
| Goodwill | 3.4M | 3.4M | 3.4M | 3.4M | 3.4M | -- |
| Goodwill And Other Intangible Assets | 8.3M | 8.5M | 8.7M | 8.9M | 9.1M | -- |
| Other Intangible Assets | 4.9M | 5.1M | 5.3M | 5.4M | 5.6M | -- |
| Total Non Current Assets | 11.0M | 11.2M | 11.4M | 11.7M | 11.8M | -- |
| Total Assets | 36.0M | 39.2M | 44.0M | 41.5M | 37.2M | -- |
| Current Debt | 1.4M | 1.0M | 5.6M | 5.2M | 8.2M | -- |
| Current Debt And Capital Lease Obligation | 2.2M | 1.8M | 6.4M | 6.1M | 9.0M | -- |
| Accounts Payable | 8.6M | 8.9M | 6.7M | 8.0M | 8.6M | -- |
| Payables | 8.6M | 8.9M | 6.7M | 8.0M | 10.3M | -- |
| Payables And Accrued Expenses | 15.3M | 16.4M | 15.5M | 15.6M | 11.4M | -- |
| Current Accrued Expenses | 6.8M | 7.5M | 8.8M | 7.6M | 1.1M | -- |
| Current Deferred Revenue | 5.0M | 8.0M | 9.4M | 6.1M | 4.1M | -- |
| Other Current Liabilities | -- | -1,000 | 1,000 | -- | -- | -- |
| Current Liabilities | 22.5M | 26.2M | 31.4M | 27.7M | 26.5M | -- |
| Long Term Debt | 5.6M | 5.8M | 4.8M | 5.4M | 2.4M | -- |
| Long Term Debt And Capital Lease Obligation | 6.7M | 7.0M | 6.1M | 6.8M | 4.1M | -- |
| Long Term Capital Lease Obligation | 1.1M | 1.3M | 1.3M | 1.4M | 1.7M | -- |
| Other Non Current Liabilities | -- | -- | 1,000 | -- | -- | -- |
| Total Non Current Liabilities Net Minority Interest | 6.7M | 7.1M | 6.2M | 6.9M | 4.2M | -- |
| Total Liabilities Net Minority Interest | 29.2M | 33.3M | 37.6M | 34.6M | 30.8M | -- |
| Common Stock | 95.2M | 95.0M | 94.8M | 94.6M | 94.6M | -- |
| Capital Stock | 95.2M | 95.0M | 94.8M | 94.6M | 94.6M | -- |
| Retained Earnings | -133.0M | -133.4M | -132.5M | -131.8M | -132.1M | -- |
| Gains Losses Not Affecting Retained Earnings | 44.6M | 44.4M | 44.1M | 44.2M | 44.0M | -- |
| Other Equity Adjustments | 44.6M | 44.4M | 44.1M | 44.2M | 44.0M | -- |
| Common Stock Equity | 6.8M | 6.0M | 6.4M | 6.9M | 6.4M | -- |
| Stockholders Equity | 6.8M | 6.0M | 6.4M | 6.9M | 6.4M | -- |
| Total Equity Gross Minority Interest | 6.8M | 6.0M | 6.4M | 6.9M | 6.4M | -- |
| Total Capitalization | 12.4M | 11.7M | 11.2M | 12.3M | 8.9M | -- |
| Net Tangible Assets | -1.5M | -2.5M | -2.3M | -1.9M | -2.6M | -- |
| Tangible Book Value | -1.5M | -2.5M | -2.3M | -1.9M | -2.6M | -- |
| Working Capital | 2.5M | 1.8M | 1.2M | 2.2M | -1.2M | -- |
| Invested Capital | 13.8M | 12.7M | 16.8M | 17.5M | 17.0M | -- |
| Total Debt | 8.8M | 8.8M | 12.5M | 12.8M | 13.1M | -- |
| Net Debt | -- | -- | -- | -- | 275,135 | -- |
| Share Issued | 51.4M | 51.2M | 51.0M | 50.8M | 50.8M | -- |
| Ordinary Shares Number | 51.4M | 51.2M | 51.0M | 50.8M | 50.8M | -- |
| Allowance For Doubtful Accounts Receivable | -660,000 | -852,000 | -852,000 | -851,604 | -851,604 | -- |
| Capital Lease Obligations | 1.9M | 2.1M | 2.1M | 2.2M | 2.5M | -- |
| Current Capital Lease Obligation | 769,000 | 791,000 | 813,000 | 842,962 | 846,858 | -- |
| Current Deferred Liabilities | 5.0M | 8.0M | 9.4M | 6.1M | 4.1M | -- |
| Finished Goods | 3.5M | 3.1M | 2.1M | 1.8M | 2.1M | -- |
| Gross Accounts Receivable | 8.2M | 10.8M | 10.9M | 10.9M | 9.0M | -- |
| Leases | -- | -- | -- | 1.9M | 1.7M | 1.7M |
| Line Of Credit | 0.00 | 0.00 | 3.7M | 3.7M | 7.7M | -- |
| Machinery Furniture Equipment | -- | -- | -- | 4.1M | 4.1M | 4.1M |
| Non Current Deferred Liabilities | 37,000 | 58,000 | 81,000 | 103,194 | 152,837 | -- |
| Non Current Deferred Revenue | 37,000 | 58,000 | 81,000 | 103,194 | 152,837 | -- |
| Other Current Borrowings | 1.4M | 1.0M | 1.9M | 1.5M | 479,222 | -- |
| Other Inventories | -- | 1,000 | 1,000 | -- | -- | -- |
| Other Payable | -- | -- | -- | -- | 1.8M | 1.4M |
| Other Properties | 2.7M | 2.7M | 2.7M | 7.6M | 7.7M | -- |
| Pensionand Other Post Retirement Benefit Plans Current | -- | -- | -- | -- | 2.0M | 1.6M |
| Properties | -- | -- | -- | 0.00 | 0.00 | 0.00 |
| Raw Materials | 2.7M | 2.1M | 3.0M | 3.1M | 3.2M | -- |
| Restricted Cash | -- | -- | -- | 0.00 | 0.00 | 0.00 |
| Line Item | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -1.3M | -759,000 | 3.2M | 3.3M | -936,000 | -- |
| Cash Flow From Continuing Operating Activities | -1.3M | -758,000 | 3.2M | 3.3M | -937,000 | -- |
| Depreciation And Amortization | 421,000 | 408,000 | 418,000 | 429,007 | 437,000 | -- |
| Depreciation Amortization Depletion | 421,000 | 408,000 | 418,000 | 429,007 | 437,000 | -- |
| Stock Based Compensation | 252,000 | 305,000 | 242,000 | 212,456 | 74,000 | -- |
| Change In Working Capital | -2.4M | -802,000 | 3.2M | 2.5M | -1.1M | -- |
| Changes In Account Receivables | 2.4M | 142,000 | -75,000 | -1.9M | 838,000 | -- |
| Change In Receivables | 2.4M | 142,000 | -75,000 | -1.9M | 838,000 | -- |
| Change In Inventory | -893,000 | -259,000 | -189,000 | 510,037 | -119,000 | -- |
| Change In Payables And Accrued Expense | -1.1M | 909,000 | -217,000 | 2.2M | 1.5M | -- |
| Change In Other Working Capital | -3.0M | -1.5M | 3.4M | 1.9M | -3.3M | -- |
| Other Non Cash Items | 163,000 | 464,000 | 340,000 | 326,129 | 358,000 | -- |
| Capital Expenditure | -242,000 | -198,000 | -194,000 | -248,204 | -56,000 | -- |
| Purchase Of PPE | -242,000 | -198,000 | -194,000 | -248,204 | -56,000 | -- |
| Net PPE Purchase And Sale | -242,000 | -198,000 | -194,000 | -248,204 | -56,000 | -- |
| Investing Cash Flow | -242,000 | -198,000 | -194,000 | -248,204 | -56,000 | -- |
| Cash Flow From Continuing Investing Activities | -242,000 | -198,000 | -194,000 | -248,204 | -56,000 | -- |
| Issuance Of Debt | -- | -- | 0.00 | 4.0M | 5,194 | 5,195 |
| Repayment Of Debt | -186,000 | -4.0M | -333,000 | -4.2M | -179,000 | -- |
| Net Issuance Payments Of Debt | -186,000 | -4.0M | -333,000 | -198,791 | -179,000 | -- |
| Issuance Of Capital Stock | 198,000 | 0.00 | -- | 0.00 | 0.00 | 7.3M |
| Net Common Stock Issuance | 198,000 | 0.00 | -- | 0.00 | 0.00 | 7.3M |
| Financing Cash Flow | 223,000 | -3.8M | -333,000 | -198,791 | -179,000 | -- |
| Cash Flow From Continuing Financing Activities | 223,000 | -3.8M | -333,000 | -198,791 | -179,000 | -- |
| Effect Of Exchange Rate Changes | -17,000 | 24,000 | 0.00 | 12,480 | 69,000 | -- |
| Changes In Cash | -1.3M | -4.8M | 2.7M | 2.9M | -1.2M | -- |
| Beginning Cash Position | 11.2M | 15.9M | 13.2M | 10.3M | 11.4M | -- |
| End Cash Position | 9.8M | 11.2M | 15.9M | 13.2M | 10.3M | -- |
| Free Cash Flow | -1.6M | -957,000 | 3.1M | 3.1M | -992,000 | -- |
| Amortization Cash Flow | 192,000 | 192,000 | 192,000 | 192,464 | 192,000 | -- |
| Amortization Of Intangibles | 192,000 | 192,000 | 192,000 | 192,464 | 192,000 | -- |
| Change In Prepaid Assets | 164,000 | -89,000 | 311,000 | -230,127 | -7,000 | -- |
| Common Stock Issuance | 198,000 | 0.00 | -- | 0.00 | 0.00 | 7.3M |
| Depreciation | 229,000 | 216,000 | 226,000 | 236,543 | 245,000 | -- |
| Interest Paid Cfo | -162,000 | -319,000 | -319,000 | -305,351 | -352,000 | -- |
| Long Term Debt Issuance | -- | -- | 0.00 | 4.0M | 5,194 | 5,195 |
| Long Term Debt Payments | -186,000 | -4.0M | -333,000 | -183,208 | -179,000 | -- |
| Net Foreign Currency Exchange Gain Loss | 12,000 | 88,000 | 22,000 | -105,140 | -20,000 | -- |
| Net Income From Continuing Operations | 384,000 | -903,000 | -651,000 | 289,459 | -361,000 | -- |
| Net Long Term Debt Issuance | -186,000 | -4.0M | -333,000 | 3.8M | -179,000 | -- |
| Net Other Financing Charges | 211,000 | -- | -- | 0.00 | -- | -633,000 |
| Net Short Term Debt Issuance | -- | -- | -- | -4.0M | 0.00 | -821,000 |
| Operating Gains Losses | 12,000 | 88,000 | 22,000 | -105,140 | -20,000 | -- |
| Proceeds From Stock Option Exercised | -- | 137,000 | -- | -- | -- | 0.00 |
| Short Term Debt Payments | -- | -- | -- | -4.0M | 0.00 | -821,000 |