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) 6 Months Ended JUN 30
2019 2018

[1] 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 155.6 144.3
Gross margin 36.5 36.4
GM % 23% 25%
Net loss from Continuing Operations (5.4) (18.3)
Loss per share from Continuing Operations - basic & diluted (0.04) (0.14)
Weighted average shares outstanding basic and diluted 133,525,464 131,836,351
Consolidated adjusted EBITDA1 15.4 5.1
Net cash used in operating activities of continuing operations (12.8) (14.9)
30-Jun-19 31-Dec-18
Cash and cash equivalents 45.4 61.1
Total assets 294.6 269.9
Total debt and royalty payable 67.5 76.2

News Releases

November 7

Westport Fuel Systems Reports Third Quarter 2019 Financial Results

Net income from continuing operations of $4.9 million and Adjusted EBITDA of $9.4 million due to revenue growth and operating cost reductions

October 24

Westport Fuel Systems to Announce Third Quarter Results on Thursday, November 7, 2019

Westport Fuel Systems Inc. announced today that it will disclose its financial results for the third quarter ended September 30, 2019 on Thursday, November 7, 2019 after market close.

September 27

Westport Fuel Systems Announces Settlement with the U.S. Securities and Exchange Commission

Westport Fuel Systems today announced that it has reached a settlement fully resolving the SEC’s investigation.

August 30

Westport Fuel Systems to Present at the 8th Annual Gateway Conference on September 5, 2019

Westport Fuel Systems today announced they have been invited to present at the 8th Annual Gateway Conference, which is being held September 4-5, 2019 at the Four Seasons Hotel in San Francisco, California

August 22

Westport Fuel Systems Announces New Chief Financial Officer

Westport Fuel Systems Appoints Richard Orazietti as Chief Financial Officer

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