The Company exceeded its quarterly revenue and profit records in Q1, 2024
Vancouver, BC — January 30, 2024 — Telescope Innovations Corp. (“Telescope” or the “Company”) (CSE: TELI) (OTCQB: TELIF), a developer of advanced technologies and services for the global pharmaceutical and chemical industries, reports financial results for the fiscal quarter ended November 30, 2023. The Company generated revenues of $1.50 M for a net income of $215,000 (Figure 1).
Figure 1. Revenue and net income chart for FY 2022, 2023, and 2024 to date.
FINANCIAL HIGHLIGHTS OF THE FISCAL QUARTER ENDED NOVEMBER 30, 2023
All values are represented in CAD.
- Revenues of $1,504,852: representing 300% growth over Q1, 2023.
- Expenses of $1,289,852
- Net income of $215,000
“Our strong performance this quarter has been driven by the increasing momentum of our flagship product, DirectInject-LCTM,” commented Jeffrey Sherman, COO of Telescope. “We have also continued to expand our technology and process development services with strategic partners in the pharmaceutical and chemical manufacturing sectors. Our automation and advanced analytical technology have been making big impacts in these industries by accelerating chemical process development, increasing data quality, and reducing development costs.”
Readers are encouraged to review the full financial statements and accompanying management discussion and analysis for the quarter ended November 30, 2023, both of which are available under the profile for the Company on SEDAR+ (www.sedarplus.ca).
About Telescope
Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The Company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency, and data quality. Our aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability.
On behalf of the Board,
Telescope Innovations Corp.
Jeffrey Sherman, Chief Operating officer
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
