Base Carbon's Q3 2024: A Green Success Story

Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) has reported its third-quarter 2024 consolidated financial results and operational highlights, showcasing a strong performance in the carbon credit market. The company, which operates through its wholly-owned subsidiary Base Carbon Capital Partners Corp., has continued to execute commercially, achieving multiple key milestones in recent months.

During the third quarter, Base Carbon received over $11 million in cash proceeds from the sale of carbon credits, demonstrating the growing demand and value of these environmental assets. The company's revenue grew by 11% quarter-over-quarter, from $11.2 million in Q2 2024 to $12.5 million in Q3 2024. This represents a 15% increase from the same period last year, when revenue was $10.9 million.

Base Carbon's operating income (loss) for Q3 2024 was $299,000, compared to a loss of $1,679,000 in Q2 2024. This significant improvement of $1,978,000 reflects the company's strong performance and growing profitability. Compared to the same period last year, Q3 2024's operating income is $4,468,000 higher.



Cash flow from operating activities increased substantially from Q2 2024 to Q3 2024, from $2.3 million to $11.2 million. This represents a significant increase of $8.9 million, or 387%, quarter-over-quarter. Year-to-date, the cash flow from operating activities stands at $13.5 million, a substantial improvement compared to the same period last year.

The company's carbon credit inventory has also grown significantly, with a current inventory value of $9,160,919, representing 697,558 Article 6 Authorized labeled carbon credits from the Rwanda project. This inventory value is a 15.9% increase from the previous quarter's $7,885,921 and a 117.4% increase from the same period last year, when the inventory was valued at $4,218,282.

Base Carbon's carbon credit inventory growth is driven by key factors such as the completion of planting 6.5 million trees in the India ARR project, generating 1.6 million carbon credits, and the issuance of over 1 million additional carbon credits from the Rwanda project. The company's strategic approach to acquiring and managing carbon credits, along with its focus on curating a diverse portfolio of carbon projects and short-term credit inventories, has allowed it to capitalize on market developments and opportunities.

In conclusion, Base Carbon's Q3 2024 financial results and operational highlights demonstrate the company's strong performance and growth in the carbon credit market. With a balanced and analytical approach to investing, the company has successfully navigated the market, capitalizing on opportunities and maintaining a positive outlook on the future of the bull market.