CEMATRIX (CVX) investor relations material

Executive summary

• Achieved record full-year revenue of $45.1 million in 2025, up 27% year-over-year, with net income rising to $4.1 million from $0.3 million and adjusted EBITDA reaching $8.3 million, a 152% increase year-over-year.

• Gross margin improved to $15.8 million (35%) in 2025 from $9.4 million (27%) in 2024, reflecting operational efficiency.

• Earnings per share for 2025 were $0.027, a record high and a 1250% increase year-over-year.

• Cash flow from operations (before working capital adjustments) was $8.2 million for the year, up 165% year-over-year.

• Maintains industry leadership in cellular concrete for infrastructure projects, with a competitive advantage and strong financial position.

Financial highlights

• Revenue for Q4 2025 was $12.5 million (up 20% year-over-year); full-year revenue was $45.1 million (up 27.5% year-over-year).

• Gross margin for Q4 was 40% (up 11% year-over-year); full-year gross margin was 35% (up 8% year-over-year).

• Operating income for 2025 was $5.8 million, a 1060% increase year-over-year.

• Ended Q4 2025 with $11.9 million in cash and no long-term debt; cash increased to nearly $17 million shortly after year-end.

• Shareholders’ equity increased to $40.5 million from $37.4 million year-over-year.

Outlook and guidance

• Management expects 2026 to be another strong year, citing a robust backlog, new contract wins, and continued positive results.

• No formal guidance provided, but management expects a very good year ahead.

• Revenue growth expected to remain lumpy due to project timing and construction seasonality.

• The company is assessing the impact of new IFRS standards effective in 2026 and 2027.

• Focus remains on executing business strategy, quality delivery, and cost management.