Safe & Green Holdings Q4 construction revenue up 476% YoY; net loss $3.3M; pipeline $800M+

OLENOX INDUSTRIES INC.

Q4 2022 revenue $4.1M (down from $8.5M YoY) as COVID testing ended; construction services revenue $4.2M (+476% YoY).
Full year 2022 revenue $24.4M (down from $38.3M); net loss $7.9M ($0.59/share) vs $10.8M ($1.16) in 2021.
Adjusted EBITDA improved to ($4.0M) in 2022 from ($8.0M) in 2021; cash balance $583K at Dec 31, 2022 vs $13.0M a year ago.
Construction pipeline exceeds $800M; manufacturing capacity expected to support $150M annualized revenue; positive cash flow expected in SG Echo in 2023.
Anticipates Q2 2023 spin-out of Safe and Green Development Corp (SG DevCo) on Nasdaq; existing shareholders to receive 30% of spin-out; third-party valuation of SG DevCo at ~$74.3M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OLENOX INDUSTRIES INC. reported financial results for the fiscal year ended December 31, 2022.

Period: the fiscal year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 29, 2023, Safe & Green Holdings Corp., a Delaware corporation (the “Company”), issued a press release that included financial information for the fiscal year ended December 31, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OLENOX INDUSTRIES INC. reported financial results for the fourth quarter of 2022.

Period: the fourth quarter of 2022
Result: reported results

Exact text from the filing

Safe & Green Holdings Corp. Reports 476% Year Over Year Increase in Construction Services Revenue for the Fourth Quarter of 2022

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51 earnings releases filed in the last 30 days. Browse all earnings releases →

OLENOX INDUSTRIES INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-024190

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