Canatu Continues Strong Revenue Growth in 2023

Canatu announced the following financial results for 2023. In 2023, Canatu achieved 73% year-over-year revenue growth, totaling €16.6 million ($18.3 million USD), over three consecutive years. The company realized a 99% year-over-year revenue growth in the semiconductor industry, and successfully attained the first EBITDA-positive year. Canatu has also doubled the number of employees in the past 18 months.

The semiconductor business emerged as an integral component of Canatu’s revenue stream, representing 82% of sales revenue with a 99% year-over-year growth. The continued mass production of consumable debris filters for EUV lithography ensured consistent revenues.

Momentum was further fueled by a significant CNT manufacturing equipment deal, underscoring Canatu’s increasing focus on supplying equipment and licensing its technology to enable customers to produce CNT membranes themselves.

“Canatu has experienced tremendous revenue growth, driven by a breakthrough in EUV membrane technology. This innovation has positioned Canatu as an attractive supplier of membranes and equipment alike to the semiconductor industry, further highlighting the growing importance of this sector of our business,” said Juha Kokkonen, CEO of Canatu.

“2023 was an exceptional year for Canatu, achieving our first EBITDA positive year. We’re pleased with our equipment sales growth driven by EUV tech, solidifying its role in our strategy,” added Timo Suominen, CFO of Canatu.

While the semiconductor industry has become a key business driver, Canatu’s film heater technology tackles a critical hurdle for autonomous vehicles: ensuring ADAS sensor reliability in harsh weather. By eliminating ice, fog, and snow disruptions with innovative heating solutions, Canatu paves the way for autonomous driving in any weather.

Canatu continues its commitment to driving innovation with 13 new patents granted in 2023, bringing its total portfolio to more than 180 patents across 32 distinct families. Furthermore, Canatu’s dedication to ESG was rewarded EcoVadis Gold for ESG, scoring within top 5 % in the industry and within the top 8 % of all companies evaluated by EcoVadis globally.