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    Nick Boychuk

    Research Analyst at Cormark

    Nick Boychuk is an Analyst in Institutional Equity Research at Cormark Securities, specializing in alternative energy and industrial technology sectors, with coverage of companies such as Nano One Materials Corp and UGE International. He has a track record of 21 stock ratings since 2023, with a success rate of 13% and an average return of -29.2%, though his most profitable call on UGE International yielded a 25% return. Boychuk began his career in audit and assurance at KPMG LLP and held roles in equity research at Stifel FirstEnergy and investment appraisal at Cenovus Energy before joining Cormark in December 2024. He holds a B.Comm from the University of Calgary, is a Chartered Professional Accountant (CPA) since 2017, and earned the Chartered Financial Analyst (CFA) designation in 2024.

    Nick Boychuk's questions to Tantalus Systems Holding (TGMPF) leadership

    Nick Boychuk's questions to Tantalus Systems Holding (TGMPF) leadership • Q3 2024

    Question

    Asked for details on the newly added utility customers, the reasons for accelerated TRUSense orders from outside the advisory committee, and how the $5.4 million spent on TRUSense commercialization will be allocated going forward, particularly regarding future costs and sales investment.

    Answer

    New customers are primarily public power and co-ops, driven by a strong grid modernization message and partnerships with joint action agencies. The rapid adoption of TRUSense by non-advisory utilities is partly due to existing customers upgrading their networks. Of the $5.4M spent on TRUSense development over the last 12 months, $1.5M in external costs will fall off, but a significant portion of those savings will be reinvested into sales and marketing to accelerate growth.

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