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EXFO stock price, funding rounds, valuation and financials

EXFO annual revenue was $265.58 m in FY 2020

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$72.6 M

EXFO Revenue Q3, 2021

EXFO Gross profit (Q3, 2021)42.3 M

EXFO Gross profit margin (Q3, 2021), %58.3%

EXFO Net income (Q3, 2021)-3.7 M

EXFO EBIT (Q3, 2021)-2.1 M

EXFO Cash, 31-May-202110.9 M

EXFO Revenue

EXFO revenue was $265.58 m in FY, 2020 which is a 7.4% year over year decrease from the previous period.

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EXFO Funding

Summary Metrics

Founding Date	1984

EXFO Revenue Breakdown

Geographic Segment

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EXFO revenue breakdown by geographic segment: 6.2% from Canada, 5.0% from Other Americas, 7.7% from Other Asia Pacific, 37.5% from United States, 6.1% from United Kingdom, 24.0% from Other Europe, Middle East and Africa and 13.5% from China

Annual

USD	FY, 2018	FY, 2019	FY, 2020
Revenue	269.5m	286.9m	265.6m
Revenue growth, %	11%	6%	(7%)
Cost of goods sold	105.0m	118.7m	114.6m
Gross profit	164.5m	168.2m	151.0m
Gross profit Margin, %	61%	59%	57%
R&D expense	57.2m	50.6m	45.5m
General and administrative expense	98.8m	98.6m	92.3m
Operating expense total	155.9m	149.2m	137.8m
Depreciation and amortization	15.8m	14.5m	15.4m
EBIT	(6.6m)	2.9m	(3.5m)
EBIT margin, %	(2%)	1%	(1%)
Interest expense	1.4m	718.0k	956.0k
Pre tax profit	(6.6m)	2.9m	(3.5m)
Income tax expense	5.7m	5.3m	6.0m
Net Income	(12.3m)	(2.5m)	(9.5m)
EPS	(0.2)	0.0	(0.2)

Quarterly

USD	Q1, 2019	Q2, 2019	Q3, 2019	Q1, 2020	Q2, 2020	Q3, 2020	Q1, 2021	Q2, 2021	Q3, 2021
Revenue	69.2m	73.9m	73.6m	73.6m	55.3m	66.1m	71.5m	69.3m	72.6m
Cost of goods sold	28.9m	29.1m	30.5m	30.2m	23.8m	27.9m	29.9m	30.4m	30.3m
Gross profit	40.3m	44.9m	43.1m	43.3m	31.5m	38.2m	41.6m	38.8m	42.3m
Gross profit Margin, %	58%	61%	59%	59%	57%	58%	58%	56%	58%
R&D expense	15.2m	12.2m	12.0m	11.7m	12.6m	9.2m	11.2m	13.5m	14.4m
General and administrative expense	26.4m	25.5m	23.8m	24.5m	24.3m	18.9m	21.6m	22.9m	25.0m
Operating expense total	41.6m	37.7m	35.7m	36.3m	36.9m	28.1m	32.8m	36.4m	39.4m
Depreciation and amortization	4.4m	3.5m	3.4m	3.9m	4.0m	3.8m	4.7m	4.2m	3.9m
EBIT	(5.8m)	4.8m	3.4m	2.6m	(10.0m)	5.9m	5.7m	(1.8m)	(2.1m)
EBIT margin, %	(8%)	6%	5%	4%	(18%)	9%	8%	(3%)	(3%)
Interest expense	377.0k		698.0k	339.0k	285.0k	291.0k			396.0k
Interest income		1.5m					1.9m	137.0k
Pre tax profit	(5.8m)	4.8m	3.4m	2.6m	(10.0m)	5.9m	5.7m	(1.8m)	(2.1m)
Income tax expense	1.6m	(440.0k)	3.4m	2.7m	(971.0k)	2.7m	2.2m	603.0k	1.5m
Net Income	(7.5m)	5.2m	21.0k	(63.0k)	(9.0m)	3.2m	3.6m	(2.4m)	(3.7m)
EPS	(0.1)	0.1			(0.2)	0.1	0.1	0.0	(0.1)

Annual

USD	FY, 2018	FY, 2019	FY, 2020
Cash	12.8m	16.5m	32.8m
Accounts Receivable	47.3m	51.5m	56.3m
Prepaid Expenses	5.3m	6.5m	5.6m
Inventories	38.6m	38.0m	38.9m
Current Assets	117.4m	125.1m	148.3m
PP&E	44.3m	39.4m	39.7m
Goodwill	39.9m	38.6m	40.3m
Total Assets	284.5m	277.6m	310.7m
Accounts Payable	47.9m	50.8m	41.3m
Short-term debt	13.6m	7.4m	38.1m
Current Liabilities	85.1m	86.0m	113.1m
Long-term debt	5.9m	3.3m	9.5m
Total Debt	19.5m	10.7m	47.5m
Total Liabilities	106.6m	105.0m	138.1m
Common Stock	91.9m	92.7m	94.0m
Additional Paid-in Capital	18.4m	19.2m	19.7m
Retained Earnings	114.9m	112.2m	102.6m
Total Equity	177.9m	172.6m	172.6m
Debt to Equity Ratio		0.1 x	0.3 x
Debt to Assets Ratio		0 x	0.2 x
Financial Leverage	1.6 x	1.6 x	1.8 x

Quarterly

USD	Q1, 2019	Q2, 2019	Q3, 2019	Q1, 2020	Q2, 2020	Q3, 2020	Q1, 2021	Q2, 2021	Q3, 2021
Cash	18.1m	24.8m	13.6m	15.0m	19.1m	17.1m	15.4m	23.9m	10.9m
Accounts Receivable	50.4m	41.2m	52.9m	51.4m	33.2m	56.8m	55.5m	51.5m	55.8m
Prepaid Expenses	5.0m	5.0m	5.5m	5.7m	5.0m	5.6m	5.4m	5.1m	5.9m
Inventories	39.2m	38.6m	37.9m	41.5m	41.5m	42.7m	41.8m	41.8m	48.4m
Current Assets	125.3m	123.1m	120.9m	126.6m	113.2m	138.8m	131.7m	137.4m	140.7m
PP&E	43.7m	42.0m	40.5m	39.7m	39.2m	37.8m	39.3m	39.5m	41.3m
Goodwill	39.1m	39.7m	38.5m	39.1m	38.7m	37.8m	40.5m	41.5m	43.1m
Total Assets	287.1m	283.0m	275.2m	287.5m	271.4m	293.5m	291.8m	296.6m	305.2m
Accounts Payable	49.6m	47.6m	48.9m	47.5m	41.4m	44.0m	39.4m	45.9m	50.9m
Short-term debt	24.2m	11.7m	7.6m	18.6m	18.7m	39.1m	21.1m	15.7m	12.6m
Current Liabilities	98.4m	86.9m	85.3m	89.1m	84.6m	107.2m	91.4m	93.7m	97.0m
Long-term debt	5.2m	4.6m	3.9m	9.9m	8.9m	9.6m	8.5m	7.7m	7.0m
Total Debt	29.4m	16.3m	11.5m	28.5m	27.7m	48.6m	29.5m	23.5m	19.6m
Total Liabilities	120.1m	108.2m	105.3m	114.0m	108.2m	130.6m	114.6m	116.4m	119.1m
Common Stock	92.6m	92.9m	92.9m	93.4m	93.8m	94.0m	94.2m	95.2m	95.3m
Additional Paid-in Capital	18.2m	18.3m	18.7m	18.8m	18.8m	19.1m	19.7m	20.1m	21.2m
Retained Earnings	107.2m	112.4m	112.4m	112.1m	103.1m	106.3m	106.2m	103.7m	100.1m
Total Equity	166.9m	174.8m	169.8m	173.4m	163.1m	163.0m	177.1m	180.2m	186.1m
Debt to Equity Ratio				0.2 x		0.3 x	0.2 x	0.1 x	0.1 x
Debt to Assets Ratio				0.1 x		0.2 x	0.1 x	0.1 x	0.1 x
Financial Leverage	1.7 x	1.6 x	1.6 x	1.7 x	1.7 x	1.8 x	1.6 x	1.6 x	1.6 x

Annual

USD	FY, 2018	FY, 2019	FY, 2020
Net Income	(12.3m)	(2.5m)	(9.5m)
Depreciation and Amortization	15.8m	14.5m	15.4m
Accounts Receivable	7.3m	(4.8m)	(1.6m)
Inventories	(1.0m)	(134.0k)	(45.0k)
Accounts Payable	1.0m	3.2m	(6.4m)
Cash From Operating Activities	14.4m	17.2m	(2.1m)
Capital Expenditures	(10.5m)	(7.5m)	(7.6m)
Cash From Investing Activities	(43.9m)	(4.9m)	(5.7m)
Long-term Borrowings	9.4m	(8.0m)	21.4m
Cash From Financing Activities	4.3m	(8.3m)	23.5m
Net Change in Cash	(25.7m)	3.8m	16.3m
Income Taxes Paid	2.4m	2.6m	2.0m
Free Cash Flow	3.9m	9.7m	(9.8m)

Quarterly

USD	Q1, 2019	Q2, 2019	Q3, 2019	Q1, 2020	Q2, 2020	Q3, 2020	Q1, 2021	Q2, 2021	Q3, 2021
Net Income	(7.5m)	(2.3m)	(2.3m)	(63.0k)	(9.1m)	(5.9m)	3.6m	1.1m	(2.6m)
Depreciation and Amortization	4.4m	7.9m	11.3m	3.9m	7.9m	11.7m	4.7m	9.0m	12.9m
Accounts Receivable	(4.1m)	5.8m	(7.0m)	72.0k	18.6m	(6.9m)	(831.0k)	6.4m	4.0m
Inventories	(1.4m)	(362.0k)	(668.0k)	(3.5m)	(4.0m)	(6.2m)	(2.6m)	(681.0k)	(4.9m)
Accounts Payable	3.1m	18.0k	2.0m	(3.7m)	(9.3m)	(6.0m)	(3.8m)	(1.3m)	2.6m
Cash From Operating Activities	(2.5m)	16.2m	11.0m	(6.5m)	665.0k	(16.2m)	2.1m	16.7m	11.8m
Capital Expenditures	(2.9m)	(4.7m)	(6.3m)	(2.0m)	(4.2m)	(6.1m)	(1.1m)	(2.3m)	(4.4m)
Cash From Investing Activities	(2.5m)	(1.3m)	(2.4m)	(1.6m)	(3.1m)	(6.9m)	(1.3m)	(1.0m)	(5.3m)
Long-term Borrowings	10.5m	(2.7m)	(7.2m)	6.8m	5.4m	24.2m	(17.8m)	(24.5m)	(28.9m)
Cash From Financing Activities	10.5m	(2.8m)	(7.3m)	6.6m	5.1m	23.9m	(18.1m)	(24.9m)	(29.1m)
Net Change in Cash	5.3m	12.0m	865.0k	(1.5m)	2.6m	552.0k	(17.4m)	(8.9m)	(21.9m)
Income Taxes Paid	871.0k	1.5m	1.9m	741.0k	1.3m	1.4m	372.0k	1.0m	1.9m
Free Cash Flow	(5.4m)	11.5m	4.7m	(8.5m)	(3.5m)	(22.3m)	951.0k	14.5m	7.5m

USD	FY, 2018
Revenue/Employee	172.3k
Financial Leverage	1.6 x

EXFO's Customers was reported to be 2 k in FY, 2019.

	Q1, 2019	Q2, 2019	Q3, 2019	FY, 2019	Q1, 2020	Q2, 2020	Q3, 2020	FY, 2020	Q1, 2021	Q2, 2021	Q3, 2021	May, 2022
Audits to Date												5 k
Awards												14
Book-to-Bill Ratio	117%	110%	105%	104%	95%	111%	104%	100%	97%	105%	110%
Bookings	$81.24 m	$157.33 m	$226.89 m	$297.81 m	$69.91 m	$142.78 m	$201.89 m	$264.86 m	$69.04 m	$148.39 m	$235.4 m
Bookings (Service Assurance, Systems and Services)	$17.22 m	$48.17 m	$67.82 m	$88.34 m	$15.05 m	$36.01 m	$49 m	$68.75 m	$17.8 m	$43.07 m	$69.84 m
Bookings (Test and Measurement)	$64 m	$109.32 m	$159.47 m	$210.06 m	$55.01 m	$107.01 m	$153.65 m	$197.14 m	$51.25 m	$104.91 m	$164.58 m
Certifications												2
Countries Covered	25	25	25	25	25	25	25	25	25	25	25
Customers				2 k
Patent Applications (Europe)				19
Patent Applications (Foreign)				19
Patent Applications (US)				53								25
Patents (Europe)				118
Patents (Foreign)				45
Patents (US)				94								103
Products												149
Solutions												10
Trademarks (US)												5