Laredo Oil Inc (LRDC) Q3 2024 Earnings Report

LRDC QQ3 2024 results show a modest top-line reported figure but an outsized cost base that drives a meaningful operating loss and negative free cash flow. Revenue is reported at 12,701 (USD units as disclosed) with gross profit of 6,058 and a gross margin of approximately 47.7%. However, General and Administrative expenses of 563,073 overwhelm current-quarter operating performance, resulting in EBITDA of -223,959 and net income of -336,409. The company posted negative operating income (-550,370) with an operating margin of -43.33% and a tax line of only -3, suggesting little tax sheltering in the period. Cash generation from operations was negative (-188,767) and free cash flow was also negative (-227,786), while financing activities provided a material inflow (+2,086,869) to support liquidity. On the balance sheet, LRDC carries a high debt load (total debt of 3,890,209) and negative stockholders’ equity (-5,898,873), with a very tight liquidity profile indicated by current and quick ratios of 0.191. Ending cash stood at 1,894,962. The results underscore a high-risk, leveraged business with limited near-term visibility for meaningful profitability absent either a substantial revenue uplift or aggressive cost rationalization. Management commentary is not available in the provided transcript data, so this analysis relies on disclosed financials and standard sector considerations.