iFabric Corp Reports Q2 & H1 2025 Results
iFabric Corp (OTCQX:IFABF) reported its Q2 and H1 2025 financial results, with Q2 revenues remaining flat at $5.8 million compared to 2024. The company's H1 2025 revenues increased by 5% to $12.9 million. Q2 gross profit margin decreased to 37% from 42% in 2024, primarily due to $350,000 in brand advertising contributions.
The Intimate Apparel Division showed growth with a 10% revenue increase, while the Intelligent Fabrics Division saw a 7% decrease. The company reported a Q2 2025 net loss of $190,103 ($0.006 per share) compared to net earnings of $56,103 in 2024. Working capital remained strong at $19.2 million, with an unused $12 million credit facility available for future growth.
iFabric Corp (OTCQX:IFABF) ha comunicato i risultati finanziari del Q2 e del primo semestre 2025: i ricavi del Q2 sono rimasti invariati a $5.8 million rispetto al 2024. I ricavi del primo semestre 2025 sono aumentati del 5% a $12.9 million. Il margine lordo del Q2 猫 sceso al 37% dal 42% registrato nel 2024, principalmente a causa di $350,000 in contributi per la pubblicit脿 del marchio.
La Divisione Intimate Apparel ha mostrato crescita con un incremento dei ricavi del 10%, mentre la Divisione Intelligent Fabrics ha registrato un calo del 7%. L鈥檃zienda ha chiuso il Q2 2025 con una perdita netta di $190,103 ($0.006 per azione) rispetto a un utile netto di $56,103 nel 2024. Il capitale circolante 猫 rimasto solido a $19.2 million, con una linea di credito inutilizzata di $12 million disponibile per la crescita futura.
iFabric Corp (OTCQX:IFABF) inform贸 sus resultados financieros del Q2 y del H1 2025: los ingresos del Q2 se mantuvieron sin cambios en $5.8 million respecto a 2024. Los ingresos del primer semestre 2025 aumentaron un 5% hasta $12.9 million. El margen bruto del Q2 descendi贸 al 37% desde el 42% en 2024, principalmente debido a $350,000 en contribuciones para publicidad de la marca.
La Divisi贸n Intimate Apparel creci贸 con un incremento de ingresos del 10%, mientras que la Divisi贸n Intelligent Fabrics registr贸 una ca铆da del 7%. La compa帽铆a report贸 una p茅rdida neta en el Q2 2025 de $190,103 ($0.006 por acci贸n) frente a ganancias netas de $56,103 en 2024. El capital de trabajo se mantuvo s贸lido en $19.2 million, con una l铆nea de cr茅dito no utilizada de $12 million disponible para crecimiento futuro.
iFabric Corp (OTCQX:IFABF)電� 2025雲� 2攵勱赴(Q2) 氚� 靸侂皹旮�(H1) 鞁れ爜鞚� 氚滍憸頄堨姷雼堧嫟. 2攵勱赴 毵れ稖鞚� 2024雲勱臣 霃欖澕頃� $5.8 million鞚� 旮半頄堨姷雼堧嫟. 2025雲� 靸侂皹旮� 毵れ稖鞚� 5% 歃濌皜頃橃棳 $12.9 million鞚� 霅橃棃鞀惦媹雼�. 2攵勱赴 毵れ稖齑濎澊鞚惦鞚� 2024雲� 42%鞐愳劀 37%搿� 臧愳唽頄堨溂氅�, 欤检殧 鞗愳澑鞚� 敫岆灉霌� 甏戧碃牍� 旮办棳旮� $350,000鞛呺媹雼�.
Intimate Apparel 攵�氍胳潃 毵れ稖 10% 歃濌皜搿� 靹膘灔頄堨毵�, Intelligent Fabrics 攵�氍胳潃 毵れ稖 7% 臧愳唽毳� 氤挫榾鞀惦媹雼�. 須岇偓電� 2025雲� 2攵勱赴鞐� $190,103 (欤茧嫻 $0.006) 靾滌啇鞁�鞚� 氤搓碃頄堨溂氅�, 鞚措姅 2024雲勳潣 $56,103 靾滌澊鞚奠棎靹� 鞎呿檾霅� 靾橃箻鞛呺媹雼�. 鞖挫爠鞛愲掣鞚� $19.2 million鞙茧 瓴“頃橁矊 鞙犾霅橃棃瓿�, 頄ロ泟 靹膘灔鞚� 鞙勴暣 靷毄霅橃 鞎婌潃 $12 million鞚� 鞁犾毄頃滊弰臧� 雮晞 鞛堨姷雼堧嫟.
iFabric Corp (OTCQX:IFABF) a publi茅 ses r茅sultats financiers du T2 et du premier semestre 2025 : les revenus du T2 sont rest茅s stables 脿 $5.8 million par rapport 脿 2024. Les revenus du premier semestre 2025 ont augment茅 de 5% pour atteindre $12.9 million. La marge brute du T2 a diminu茅 脿 37% contre 42% en 2024, principalement en raison de $350,000 de contributions 脿 la publicit茅 de la marque.
La division Intimate Apparel a affich茅 une croissance avec une hausse des revenus de 10%, tandis que la division Intelligent Fabrics a connu une baisse de 7%. La soci茅t茅 a enregistr茅 au T2 2025 une perte nette de $190,103 ($0.006 par action) contre un b茅n茅fice net de $56,103 en 2024. Le fonds de roulement est rest茅 solide 脿 $19.2 million, avec une facilit茅 de cr茅dit non utilis茅e de $12 million disponible pour la croissance future.
iFabric Corp (OTCQX:IFABF) ver枚ffentlichte die Finanzergebnisse f眉r Q2 und H1 2025: Die Umsatzerl枚se im Q2 blieben im Vergleich zu 2024 unver盲ndert bei $5.8 million. Die Ums盲tze f眉r das erste Halbjahr 2025 stiegen um 5% auf $12.9 million. Die Bruttogewinnmarge im Q2 sank von 42% auf 37%, haupts盲chlich aufgrund von $350,000 an Markenwerbeaufwendungen.
Die Sparte Intimate Apparel verzeichnete ein Wachstum mit einem Umsatzanstieg von 10%, w盲hrend die Sparte Intelligent Fabrics einen R眉ckgang von 7% erlitt. Das Unternehmen meldete im Q2 2025 einen Nettogewinnr眉ckgang zu einem Nettoverlust von $190,103 ($0.006 pro Aktie) gegen眉ber einem Nettogewinn von $56,103 im Jahr 2024. Das Working Capital blieb mit $19.2 million solide, und eine ungenutzte Kreditfazilit盲t von $12 million steht f眉r zuk眉nftiges Wachstum zur Verf眉gung.
- Intimate Apparel Division revenues increased by 10% to $2.5 million
- Strong working capital position of $19.2 million
- Fully available $12 million credit facility for future growth
- H1 2025 revenues grew 5% year-over-year to $12.9 million
- Record level of deposits against future deliveries
- Q2 2025 net loss of $190,103 compared to profit in 2024
- Gross profit margin declined to 37% from 42% year-over-year
- Negative Q2 adjusted EBITDA of $268,184 vs positive $356,817 in 2024
- Intelligent Fabrics Division revenues decreased by 7%
- Cash decreased to $2.7 million from $5.6 million in previous quarter
MARKHAM, ON / / August 14, 2025 / iFabric Corp. ("iFabric" or the "Company") (TSX:IFA)(OTCQX:IFABF), today announced its financial results for the second quarter ("Q2") and first half ("H1") ended June 30, 2025.
"Q2 and H1 performed as expected despite some uncertainty in the United States, reinforcing our confidence in the strategic direction of the company. We maintain a positive outlook for the remainder of 2025, which is on track to set new record revenues, based on deposits against future deliveries, which are currently at the highest level in Company history," stated Hylton Karon, President and CEO.
"U.S. tariffs have not materially impacted the financials due to a combination of strategies, namely, pre-buying and negotiations with suppliers and customers who are aware of the situation and pricing expectations are adjusting accordingly. This realism and cooperation has our U.S. market poised for continued expansion," added Mr. Karon.
"We've now entered the second half of 2025 with unprecedented strength in our revenue pipeline. Our teams are executing innovative products that continue to open doors to additional programs and new clients. The groundwork we're laying now is targeted to fuel even greater growth in 2026.
iFabric Corp. remains committed to delivering shareholder value through strategic growth, operational excellence, and continued innovation in textile technologies and apparel performance," concluded Hylton Karon.
Q2 2025 HIGHLIGHTS:
Revenues were virtually unchanged at
$5,796,761 in Q2 2025 compared$5,796,220 in the same period of 2024. Revenues were reduced by an amount of$350,000 in respect of brand advertising contributions, which were deducted from revenues as required under International Financial Reporting Standards("IFRS") and represented a6% impact to revenues.Revenues in the Intelligent Fabrics Division, decreased by
7% or$236,619 t o$3,262,885 In 2025 from$3,499,504 in 2024. Revenues of this division were reduced by the brand advertising contributions discussed above, which impacted revenues of the division by11% .Revenues in the Intimate Apparel Division increased by
10% or$233,660 , to$2,528,626 in 2025 from$2,294,966 in 2024 as a result of increased sales in Canada.Gross profit as a percentage of revenue decreased to
37% in Q2 2025 compared42% in 2024, primarily as a result of the above discussed brand advertising contributions, which impacted margins by6% . Gross profit in dollars decreased by11% or$273,216 t o$2,142,902 in Q2 2025 compared to$2,416,118 in 2024, with the full decease attributable brand advertising contributions.Selling, general and administrative costs decreased to
$2,254,551 in Q2 2025 from$2,363,950 in Q2 2024, as a result of the decrease in certain expense provisions.Negative adjusted EBITDA for Q2 2025 amounted to
$268,184 compared to adjusted EBITDA of$356,817 in 2024, with the decrease mainly attributable to brand advertising contributions of$350,000 and exchange losses of$156,535 resultant from a weakening US dollar.The net loss after tax attributable to iFabric's shareholders during Q2 2025 was
$190,103 ($0.00 6 per share, basic and diluted) compared to net earnings of$56,103 ($0.00 2 per share, basic and diluted).Working capital (excluding a demand loan classified as current, but not requiring repayment in 2025) amounted to
$19,167,596 at the end of Q2 2025 compared to$19,883,462 at the end of the previous quarter.Cash amounted to
$2,655,107 at the end of Q2 2025 compared$5,640,755 at the end of the previous quarter, with the decrease attributable to an increase of$ 3.4 million in deposits on inventory for future delivery. Such deposits are typically25% of the cost of such inventory.The Company's bank operating line, available up to a maximum limit of
$12,000,000 , was unutilized at the end current quarter and, is fully available to fund product purchases for new programs. It is expected that some of this credit will be used to support the build of H2 inventory.
SIX MONTH HIGHLIGHTS:
Total revenues of
$12,877,201 for the six months ended June 30, 2025 compared to$12,550,844 in 2024, representing an increase of$326,357 or5% .Gross profit as a percentage of revenue was
38% for the six months ended June 30, 2025 compared to43% in 2024, with the decrease mainly attributable to brand advertising contributions as discussed above, as well as the product mix for the six months.The net loss attributable to iFabric's shareholders during the six months ended June 30, 2025 was
$101,645 ($0.00 3 per share, basic and diluted) compared to net earnings of$606,699 ($0.02 0 per share, basic and diluted) in 2024, with the decrease mainly attributable to brand advertising contributions of$350,000 and exchange losses of$176,593 resultant from a weakening US dollar.Adjusted EBITDA for the six months ended June 30, 2025 amounted to
$50,294 compared to adjusted EBITDA of$1,212,197 in 2024. Refer table below for the reconciliation of adjusted EBITDA.
Complete Financial Statements are available at:
Hylton Karon, CEO of iFabric, will participate in a webinar hosted by Adelaide Capital at 2pm ET on August 19th.
Register here:
The webinar livestream will also be available to watch on the Adelaide Capital YouTube Channel, where a replay will be posted after the event:
FINANCIAL HIGHLIGHTS
Quarter Ended June 30 | Six Months Ended June 30 | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
$ | $ | $ | $ | |||||||||||||
Revenue | 5,796,761 | 5,796,220 | 12,877,201 | 12,550,844 | ||||||||||||
Earnings from operations | (243,688 | ) | 126,044 | (128,308 | ) | 805,097 | ||||||||||
Share based compensation | (20,614 | ) | (208,410 | ) | (151,834 | ) | (285,600 | ) | ||||||||
Adjusted EBITDA *(Note) | (268,184 | ) | 356,817 | 50,294 | 1,212,197 | |||||||||||
Net earnings before tax | (400,223 | ) | 68,713 | (304,901 | ) | 763,238 | ||||||||||
Net earnings after tax | ||||||||||||||||
attributable to shareholders | (190,103 | ) | 56,103 | (101,645 | ) | 606,699 | ||||||||||
Other comprehensive earnings (loss) | (269,698 | ) | 54,388 | (274,355 | ) | 147,362 | ||||||||||
Total comprehensive earnings (loss) | (459,801 | ) | 112,370 | (376,000 | ) | 756,102 | ||||||||||
Net earnings per share | ||||||||||||||||
Basic | (0.006 | ) | 0.002 | (0.003 | ) | 0.020 | ||||||||||
Diluted | (0.006 | ) | 0.002 | (0.003 | ) | 0.020 | ||||||||||
*Note: Adjusted EBITDA represents earnings before interest, taxes, depreciation, amortization and share based compensation.
About iFabric Corp:
Headquartered in Markham, Ontario, iFabric, , is listed on the TSX and, currently has 30.3 million shares issued and outstanding. Its two strategic divisions offer a variety of products and services through wholly-owned subsidiaries, namely, Intelligent Fabric Technologies (North America) Inc. ("IFTNA") and Coconut Grove Pads Inc. ("Coconut Grove").
IFTNA is focused on development and sale of high-performance sports apparel, medical protective apparel, consumer protective apparel, and proprietary treatments that provide "intelligent" properties to fabrics, foams, plastics, and numerous other surfaces, thereby improving the safety and well-being of the user. Such intelligent properties include antiviral and antibacterial characteristics, water-repellence and UV protection, among others.
Coconut Grove, operating as Coconut Grove Intimates, is a designer, manufacturer, distributor, licensor and licensee of ladies' intimate apparel products and accessories.
*USE OF NON-GAAP MEASURES
Certain measures in this document do not have any standardized meaning as prescribed by International Financial Reporting Standards ("IFRS") and, therefore, are not considered generally accepted accounting principles ("GAAP") measures and may not be comparable to similar measures presented by other issuers. Where non-GAAP measures or terms are used, definitions are provided. The Company believes that certain non-GAAP financial measures provide important information regarding the operational performance and related trends of the Company's business. In this document and in the Company's consolidated financial statements, unless otherwise noted, all financial data is prepared in accordance with IFRS.
Adjusted EBITDA
The Company uses Adjusted EBITDA to assess its operating performance without the effects of (as applicable): current and deferred tax expense, finance costs, interest income, depreciation and amortization of plant assets, other gains and losses, impairment loss, share-based compensation and other non-recurring items. The Company adjusts for these factors as they may be non-cash, unusual in nature and may not optimally represent its operating performance. Adjusted EBITDA is not intended to be representative of net earnings from operations or an alternative measure to cash provided by operating activities determined in accordance with IFRS.
The table below reconciles Adjusted EBITDA and Net earnings attributable to owners of the Company, calculated in accordance with IFRS:
Three months | Six months | |||||||||||||||
For the period ended June 30, | 2025 | 2024 | 2025 | 2024 | ||||||||||||
Net earnings (loss) after tax attributable to shareholders | (190,103 | ) | 56,103 | (101,645 | ) | 606,699 | ||||||||||
Add (deduct): | ||||||||||||||||
Net earnings attributable to non-controlling interest | - | 1,879 | - | 2,041 | ||||||||||||
Provision for income taxes | (210,120 | ) | 10,731 | (203,256 | ) | 154,498 | ||||||||||
Share-based compensation | 20,614 | 208,410 | 151,834 | 285,600 | ||||||||||||
Amortization of deferred development costs | 8,901 | 8,901 | 17,802 | 17,802 | ||||||||||||
Depreciation of plant, property and equipment and right-of-use assets | 47,037 | 46,026 | 94,075 | 93,902 | ||||||||||||
Interest expense | 55,487 | 24,767 | 91,484 | 51,655 | ||||||||||||
Adjusted EBITDA | (268,184 | ) | 356,817 | 50,294 | 1,212,197 | |||||||||||
Add (deduct): | ||||||||||||||||
Share-based compensation | (20,614 | ) | (208,410 | ) | (151,834 | ) | (285,600 | ) | ||||||||
EBITDA | (288,798 | ) | 148,407 | (101,540 | ) | 926,597 | ||||||||||
FORWARD LOOKING STATEMENTS
Forward-looking statements provide an opinion as to the effect of certain events and trends on the business. Certain statements contained in this news release constitute forward looking statements. The use of any words such as "anticipate", "continue", "plans", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the extent and impact of health pandemic outbreaks on our business; general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; the actual results of the Company's future operations; competition; changes in legislation affecting the Company; the ability to obtain and maintain required permits and approvals, the timing and availability of external financing on acceptable terms; lack of qualified, skilled labour or loss of key individuals.
A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's annual information form dated March 28, 2025 and other filings with the Canadian securities regulators available under the Company's profile on SEDAR+ at . Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Readers are cautioned not to place undue reliance on these statements as the Company's actual results, performance, or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that forward-looking statements will materialize. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Any financial outlook or future oriented financial information in this news release, as defined by applicable securities legislation, has been approved by management of iFabric. Such financial outlook or future oriented financial information is provided for the purpose of providing information about management's reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or any other reason except as required by applicable securities laws.
FOR FURTHER INFORMATION please contact:
Hylton Karon, President and CEO
Tel: 905.752.0566 ext 201
Email: [email protected]
Hilton Price, CFO
Tel: 647.465.6161
Email: [email protected]
Website:
Neither the TSX Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: iFabric Corp.
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