Q1 2023 REC Silicon ASA Earnings Call Transcript
Good morning, and welcome to the REC Silicon Q1 2023 Results Presentation. My name is Kurt Levens. I'm the CEO of REC Silicon. And with me today is Jack Yun, who is the CFO of REC Silicon.
If you've probably already seen, there's some brief things to go through on the slides. It will not be too -- I'll try not to drag it out too long. I'm sure there might be questions afterwards. So, we'll get going. So in the first quarter, our revenues were $29.1 million. Our EBITDA was negative $23 million. This was a slight improvement from last quarter. Our cash balance is $49.1 million. Drawdowns mainly related to operating activities loss, as well as our ongoing investment opportunities, both in Moses Lake and Butte.
Our gas sales increased slightly, but that was at the cost of some lower ASPs, as we moved material into some lower end markets as a result of demand in the higher end market being soft, as I've indicated before, and that continues. So, there was some dilutive effects on our price. In terms of semiconductor polysilicon, we
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