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

Stock Price

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News Releases

November 8

Westport Fuel Systems Reports Third Quarter Fiscal 2018 Financial Results

Delivers Positive Adjusted EBITDA, Updates Revenue Guidance

October 30

Westport Fuel Systems to Announce Third Quarter Results on Thursday, November 8, 2018

Westport Fuel Systems Inc. announced today that it will disclose its financial results for the third quarter ended September 30, 2018 on Thursday, November 8, 2018 after market close.

September 26

Independent Study Confirms Emissions Performance of Cummins Westport ISX12N Natural Gas Engine

Cummins Westport Inc. is pleased to announce that an independent third-party study on the Cummins Westport ISX12N 400 hp natural gas engine has demonstrated that the engine meets and exceeds California Air Resources Board’s optional Low NOx standard of 0.02 g/bhp-hr.

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.

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