Anaergia (ANRG) investor relations material

Executive summary

• Revenue grew 122% year-over-year to CAD 55.2 million in Q1 2026, driven by capital sales and strong performance in EMEA and North America.

• Gross profit increased 135% to CAD 12.7 million, with gross margin improving to 23% from 21.7%.

• Achieved third consecutive quarter of positive Adjusted EBITDA, reaching CAD 1.1 million, a 127% improvement from a loss of CAD 3.9 million in Q1 2025.

• Revenue backlog rose 32% year-over-year to CAD 265 million, with over CAD 54 million in new contracts signed during the quarter and a pipeline of about CAD 1 billion.

• Strategic milestones included entry into the hydrotreated vegetable oil (HVO) market and regulatory approval for the SoCal Biomethane facility under California SB 1440.

Financial highlights

• Revenue for Q1 2026 was CAD 55.2 million, up from CAD 24.9 million in Q1 2025 (122% increase).

• Gross profit reached CAD 12.7 million, up from CAD 5.4 million year-over-year; gross margin up 1.3 percentage points to 23%.

• Adjusted EBITDA was CAD 1.1 million, up from a loss of CAD 3.9 million (127% improvement).

• Net loss narrowed to CAD 4.4 million from CAD 5.9 million; income from operations improved to a loss of CAD 1.5 million from a loss of CAD 5.7 million.

• SG&A expenses decreased 18% to CAD 14.1 million.

Outlook and guidance

• Capital sales and backlog are expected to continue growing, with revenue building behind them.

• The capital-light model is designed for repeatable growth across multiple markets.

• O&M business will remain a growth pillar, with revenue contribution lagging capital sales by 1.5–2 years.

• Rhode Island facility targeted to reach profitability by year-end, with improvements expected each quarter.

• Management remains focused on converting backlog into profitable revenue and executing a capital-light strategy.