Overview

* Westaim ( WEDXF ) reports Q3 net loss of $11.7 mln, up from $1.2 mln loss last year

* Company's insurance segment incurs $9.4 mln Adjusted EBITDA loss in Q3

* Westaim ( WEDXF ) expects $9.0 mln in annualized run-rate savings from restructuring

Outlook

* Westaim expects Ceres' annuity business to scale in Q4 2025

* Ceres to launch fixed index annuities in early 2026

* Company anticipates $9.0 mln in annualized run-rate savings from restructuring

Result Drivers

* MYGA LAUNCH - Ceres launched multi-year guaranteed annuities, receiving positive feedback for technology and service platform

* INSURANCE LOSSES - Insurance segment incurred losses due to scaling efforts, not expected to generate material earnings until annuity business scales

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net -$11.7

Income mln

Analyst Coverage

* The one available analyst rating on the shares is "buy"

* The average consensus recommendation for the investment management & fund operators peer group is "buy"

* Wall Street's median 12-month price target for Westaim Corp ( WEDXF ) is C$45.00, about 46.4% above its November 12 closing price of C$24.14

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)