CEMATRIX (CVX) investor relations material

Executive summary

• Achieved record financial performance in 2025, with revenue of $45.1M and a 25% CAGR since 2017.

• Q1 2026 revenue increased 11% year-over-year to $7.3 million, but gross margin declined to 9% from 22% due to a shift toward larger projects.

• Cash position strengthened to $15.7 million as of March 31, 2026, up from $11.9 million at year-end 2025.

• Management remains highly optimistic for 2026, citing robust backlog, strong cash position, and increased bidding activity.

• No plans for new capital raises; focus remains on organic growth and potential acquisitions.

Financial highlights

• Adjusted EBITDA reached $8.3 million in 2025, exceeding the combined total of the two best prior years.

• Q1 2026 adjusted EBITDA was -$0.6 million, down from -$0.1 million last year.

• Q1 2026 operating loss was $1.3 million, compared to a loss of $0.7 million last year.

• Cash flow from operations in Q1 2026 was $4.6 million, a $6.2 million improvement year-over-year.

• Cash balance at March 31, 2026 was $15.7 million, up from $11.9 million at Q4 2025.

Outlook and guidance

• Management expects gross margins to improve, targeting a sustainable 30% going forward.

• 2026 is forecasted to be another strong year, with Q2 anticipated to be the best second quarter ever.

• Backlog stands at $70.3 million as of Q1 2026, supporting future revenue visibility.

• No plans for new capital raises; future acquisitions will be funded from the balance sheet.