Financial Information

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Key Financials

(expressed in millions of U.S. dollars, except for per share amounts, shares outstanding) 3 Months ENDED JUN 301

[1]  The 2017 and 2018 comparative periods have been revised to reflect the change in business segments and reflect the reclassification of the CNG Compressor business to discontinued operations.

[2] Q2 2018 Includes restricted cash of $2.5 million.

[3] Westport Fuel Systems defines Adjusted EBITDA as EBITDA from continuing operations excluding expenses for stock-based compensation, unrealized foreign exchange gains or losses, and non-cash and other adjustments that the company deems to be non-recurring in nature. Management uses Adjusted EBITDA as a long-term indicator of operational performance since it ties closely to the business units’ ability to generate sustained cash flow and such information may not be appropriate for other purposes. Adjusted EBITDA includes the company's share of income from joint ventures. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES for a full reconciliation of Adjusted EBITDA and EBITDA.

Total revenue 80.5 58.6
Gross margin 21.7 15.3
GM % 27% 26%
Net loss from Continuing Operations (5.7) (13.4)
Loss per share from Continuing Operations - basic & diluted (0.04) (0.12)
Weighted average shares outstanding basic and diluted 131,946,818 110,462,019
Cash and cash equivalents 51.22
Total assets 289.0 313.6
Total debt and royalty payable 69.1 73.4
Consolidated Adjusted EBITDA3
8.6 (5.3)
Net cash used in operating activities of Continuing Operations (2.0) (12.5)

Stock Price

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News Releases

August 28

Westport Fuel Systems and Weichai Westport to Commercialize HPDI 2.0 Technology for China

Westport Fuel Systems Inc.announced today that it has entered into definitive development and supply agreements with Weichai Westport Inc. to develop, market, and commercialize a heavy-duty, natural gas engine featuring the Westport HPDI 2.0™ technology, based on one of Weichai Power Co., Ltd.’s heavy-duty engine platforms.

August 3

Westport Fuel Systems to Announce Second Quarter Results on Thursday, August 9, 2018

Westport Fuel Systems Inc. announced today that it will disclose its financial results for the second quarter ended June 30, 2018 on Thursday, August 9, 2018 after market close.

July 25

Westport Fuel Systems Completes Sale of CNG Compressor Business for 12.3 Million Euro

Westport Fuel Systems Inc. today announced that it has completed the sale of its compressed natural gas compressor business to Snam S.p.A., a leading European gas utility company, for total proceeds of 12.3 million Euro, net of a 500,000 Euro holdback to be released upon fulfillment of an independent audit process to be completed within 30 business days.

May 31

Westport Fuel Systems Announces New Chief Financial Officer

Westport Fuel Systems Inc. today announced the appointment of Mike Willis as Chief Financial Officer ("CFO") effective June 11, 2018. Ashoka Achuthan, Westport Fuel Systems current CFO, will step down from his position but continue to serve as an advisor to the leadership team through a transition period.