Improved EBITDA and reduced cash burn rate. Growing pipeline, albeit revenue impacted by delays in certain projects.
COMPANY ANNOUNCEMENT NO. 83 Interim financial report for Q3 2023Today, LED iBond International’s (LED iBond) Board of Directors approved the interim report for the third quarter (Q3) and the first nine months of 2023. Martin Løbel, CEO of LED iBond International, comments:“The difficult market conditions continued in Q3 2023 with a declining revenue because a few but large customer projects have been delayed until 2024. Furthermore, many interesting customer opportunities have long timelines for decisions and potential orders which makes it challenging to drive revenue up short term.