Strong Performance in Specialty Semiconductors
The Specialty Semiconductors segment showed excellent year-over-year revenue and adjusted EBITDA growth with a 100% capacity increase in Montreal and a 35% increase at AZUR's solar cell capacity.
Record Revenue and Adjusted EBITDA
Revenue increased by 25% to $78.8 million, and adjusted EBITDA increased by 62% to $15.6 million, driven by strong demand in the terrestrial renewable energy and space solar power sectors.
Performance Materials Achievements
Performance Materials generated solid revenue growth and record quarterly adjusted EBITDA with a notable 44.4% gross margin despite lower volumes.
Backlog and Capacity Expansion
Specialty Semiconductors backlog remained maxed out at 265 days with confirmed long-term contracts, and plans to increase AZUR's solar cell production capacity by a further 30% in early 2025 were announced.
Recognition and Success in Space Projects
AZUR's solar cells were integral to NASA's Europa Clipper mission and received a Supplier Excellence Award from Maxar Space Systems.