Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

<ul>
<li>Kontrol Technologies reported Q1 financial results that were below our expectations.</li>
<li>Revenue came in at $1.5M vs. our estimate of $1.9M and adjusted EBITDA was ($0.2M) vs. our estimate of $0.2M.</li>
<li>KNR ended the quarter with $11.2M in cash &amp; equivalents with minimal debt ($0.20/share in net cash), compared to its market cap of $9.1M.</li>
</ul>


Kontrol Technologies reported Q1 financial results that were below our expectations.
Revenue came in at $1.5M vs. our estimate of $1.9M and adjusted EBITDA was ($0.2M) vs. our estimate of $0.2M.
KNR ended the quarter with $11.2M in cash &amp; equivalents with minimal debt ($0.20/share in net cash), compared to its market cap of $9.1M.


KNR: Light Q1 Financials; 15% Discount to Net Cash

<ul>
<li>Kontrol Technologies reported Q4 financial results that were in line with our expectations.</li>
<li>Revenue came in at $1.7M vs. our estimate of $1.8M and adjusted EBITDA was ($0.3M) vs. our estimate of ($0.2M).</li>
<li>KNR repurchased 1.8M shares in 2024 and 0.7M shares in 2025 thus far, decreasing its share count by 4% since Q4/23.</li>
</ul>


Kontrol Technologies reported Q4 financial results that were in line with our expectations.
Revenue came in at $1.7M vs. our estimate of $1.8M and adjusted EBITDA was ($0.3M) vs. our estimate of ($0.2M).
KNR repurchased 1.8M shares in 2024 and 0.7M shares in 2025 thus far, decreasing its share count by 4% since Q4/23.


KNR: Solid Q4; Still Trading at a Discount to Net Cash

<ul>
<li>Kontrol Technologies reported Q3 financial results yesterday after market close that were softer than expected.</li>
<li>Revenue came in at $1.7M vs. our expected $2.0M.</li>
<li>Subsequent to the quarter, KNR signed an LOI to acquire an Ontario-based business doing $525K in EBITDA.</li>
</ul>


Kontrol Technologies reported Q3 financial results yesterday after market close that were softer than expected.
Revenue came in at $1.7M vs. our expected $2.0M.
Subsequent to the quarter, KNR signed an LOI to acquire an Ontario-based business doing $525K in EBITDA.


KNR: Still Finding Its Footing After Dispositions

<ul>
<li>Kontrol Technologies recently completed the sale of two subsidiaries for over $24M, allowing it to pay off all of its debt and reach a net cash position of $11.5M.</li>
<li>KNR plans to reinvest the proceeds into organic growth, tuck-in acquisitions and stock buybacks.</li>
<li>KNR operates in two secular growth markets, smart building technology and HVAC services, providing a backing for future organic growth.</li>
</ul>


Kontrol Technologies recently completed the sale of two subsidiaries for over $24M, allowing it to pay off all of its debt and reach a net cash position of $11.5M.
KNR plans to reinvest the proceeds into organic growth, tuck-in acquisitions and stock buybacks.
KNR operates in two secular growth markets, smart building technology and HVAC services, providing a backing for future organic growth.


KNR: Trading at Cash with Proven Private Market Value

<ul><li>Quarterly Coverage Update Q1/25 represented another excellent quarter for our firm, with strong performance from our coverage universe.</li><li>This mainly came from our exposure to precious metals, notably silver.</li><li>Our coverage universe was up 13% during the quarter and 40% over the last year, compared to the TSX, which was up 0.1% and 12%, respectively.</li></ul>

Quarterly Coverage Update Q1/25 represented another excellent quarter for our firm, with strong performance from our coverage universe.This mainly came from our exposure to precious metals, notably silver.Our coverage universe was up 13% during the quarter and 40% over the last year, compared to the TSX, which was up 0.1% and 12%, respectively.

BQE Water Inc - Q1/25 Recap: All Our Research in One Place!

Canada

Kontrol Technologies Corp. provides energy efficiency and technology solutions. The Company performs energy audits and assessment for multi-residential, commercial, and institutional businesses. Kontrol Energy serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Kontrol Technologies (KNR CN)

KNR: Light Q1 Financials; 15% Discount to Net Cash

KNR ended the quarter with $11.2M in cash & equivalents with minimal debt ($0.20/share in net cash), compared to its market cap of $9.1M.

Atrium Research

KNR: Solid Q4; Still Trading at a Discount to Net Cash

Revenue came in at $1.7M vs. our estimate of $1.8M and adjusted EBITDA was ($0.3M) vs. our estimate of ($0.2M). KNR repurchased 1.8M shares in 2024...

Atrium Research

KNR: Still Finding Its Footing After Dispositions

Kontrol Technologies reported Q3 financial results yesterday after market close that were softer than expected. Revenue came in at $1.7M vs. our...

Atrium Research

KNR: Trading at Cash with Proven Private Market Value

Kontrol Technologies recently completed the sale of two subsidiaries for over $24M, allowing it to pay off all of its debt and reach a net cash...

Atrium Research

BQE Water Inc - Q1/25 Recap: All Our Research in One Place!

Quarterly Coverage Update Q1/25 represented another excellent quarter for our firm, with strong performance from our coverage universe. This...

Atrium Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)