Thermal Energy Intl

Thermal Energy International achieved record revenue of CAD 9.4m in Q3 2025 (+62% year-on-year) and turned prior losses into a profit with a net income of CAD 338,000. Adjusted EBITDA improved by CAD 686,000 year-on-year, cash rose to CAD 4.0m (+41%) and working capital to CAD 3.7m (+53%). Management attributes the improvement to strategic investments in sales and engineering and higher operational efficiency; risks remain currency fluctuations, natural gas price developments and customer concentration. » More on de.investing.com

Thermal Energy reported Q2 2026 record revenue of $10.2m (+18% year‑on‑year) and net profit of $618,000 (20x year‑on‑year). Adjusted EBITDA rose to $814,000 and operating cash flow before working capital changes was $1.6m. Order intake increased 127% and order backlog stands at $21.5m (+20% y/y). The stock fell 3.33% in pre‑market trading, while management is evaluating M&A options; risks remain supply‑chain disruptions, market saturation and project execution risks. » More on de.investing.com

Thermal Energy reports record annual revenue of $29.8m, although fourth-quarter revenue fell 9% year on year. Gross margin improved to 53.9% in the reporting quarter, but adjusted EBITDA declined to $1.05m (prior year $2m). Cash amounted to $2.8m, and working capital to $2.4m. The company is expanding manufacturing capacity in Europe, introducing the new CREST tool, and recorded a record order intake of $11.3m in Q1 2026 with an order backlog of $24.3m; management views the investments as drivers of scalable growth but says they are weighing on profitability in the short term. » More on de.investing.com