CEMATRIX (CVX) investor relations material

Business overview and market positioning

• Specializes in lightweight, durable cellular concrete solutions for infrastructure, with a strong competitive advantage, technical expertise, proprietary equipment, and national reach.

• Achieved consistent profitability and revenue growth, with a 25% CAGR since 2017 and record financial results in 2025 and 2026.

• Focuses on large infrastructure projects, primarily as a subcontractor to major general contractors across North America.

• Maintains significant insider ownership and a disciplined approach to growth and acquisitions.

• Reputation for delivering on time and on budget, with over 25 years of experience and a large, advanced equipment fleet.

Financial performance and outlook

• Posted record adjusted EBITDA of $8.3M, cash flow from operations of $8.2M, and EPS of 2.7 cents per share in 2025, with continued strong performance in 2026.

• Q2 2026 revenue up 76% year-over-year to $18.7M; YTD revenue up 50% to $26.0M.

• Ended Q2 2026 with $16.2M in cash, no long-term debt, and a strong balance sheet with low leverage.

• Gross margin in Q2 2026 at 35%, with a long-term sustainable target of 30%.

• Backlog at Q2 2026 stands at $61.5M, supporting future revenues; share price up 81% year-to-date.

Market opportunity and growth drivers

• U.S. market for cellular concrete estimated at $1.2B, with significant tailwinds from increased infrastructure spending in both Canada and the U.S.

• Growth driven by aging infrastructure, population growth, and increased government and private sector investment.

• Largest project is a $20M U.S. contract in North Carolina, with work continuing into 2027.

• U.S. accounts for roughly 80% of revenue, with the southern U.S. and Florida identified as key expansion markets.

• Significant capacity for organic growth exists, with equipment and crews able to support 2-3x current revenue.