Financial Information

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Key Financials

(expressed in millions of U.S. dollars, except for gross margin %, per share amounts, and shares outstanding) 9 Months ENDED SEP 301
20182017

[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] 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.

[3] Q3 2018 Includes restricted cash of $2.5 million.

Total revenue 209.8 172.3
Gross margin 52.0 46.3
GM % 25% 27%
Net loss from Continuing Operations (30.4) (42.1)
Loss per share from Continuing Operations - basic & diluted (0.23) (0.38)
Weighted average shares outstanding basic and diluted 132,128,066 110,317,330
Consolidated adjusted EBITDA2 9.5 (15.0)
Net cash used in operating activities of continuing operations (24.7) (43.6)
  30-Sep-18 31-Dec-17
Cash and cash equivalents 54.23 71.8
Total assets 276.6 313.6
Total debt and royalty payable 67.2 73.4

News Releases

March 19

Westport Fuel Systems Reports Fourth Quarter and Full Year 2018 Financial Results

Strong 2018 Financial Performance and Continued Growth in 2019

March 8

Westport Fuel Systems to Announce Fourth Quarter and Fiscal 2018 Results on Tuesday, March 19, 2019

VANCOUVER, BC – Westport Fuel Systems Inc. announced today that it will disclose its financial results for the fourth quarter and year ended December 31, 2018 on Tuesday, March 19, 2019 after market close. To coincide with the disclosure, Westport Fuel Systems has also scheduled a conference call for Tuesday, March 19, 2019 at 4:30pm Eastern Time (1:30pm Pacific Time).

February 4

Westport Fuel Systems Announces Chief Financial Officer Resignation

Westport Fuel Systems Inc today announced that Michael Willis has resigned as its Chief Financial Officer.

January 15

Westport Fuel Systems Appoints David Johnson as Chief Executive Officer

Nancy Gougarty to Remain During a Transition Period

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