Metatek-Group (MTEK) investor relations material

Executive summary

• Record Q3 revenue was US$9.717m vs US$7.533m YoY; Adjusted EBITDA was US$4.1m, with a 42% margin.

• Q3 net income was US$2.669m vs a US$1.851m loss; nine-month net loss widened to US$10.693m, including a substantial non-cash debenture and warrant revaluation loss.

• Adjusted Backlog was ~$80m at September 30, and the fleet was fully contracted through year-end as FY2026 guidance was reaffirmed.

Financial highlights

• Q3 revenue was US$9.717m vs US$7.533m; gross profit was US$6.224m vs US$4.750m, and operating income was US$3.241m vs US$2.950m YoY.

• Nine-month revenue was US$16.585m vs US$16.162m; gross profit was US$9.045m vs US$9.577m.

• Nine-month operating loss was US$524k vs operating income of US$4.440m; operating expenses were US$9.569m vs US$5.137m.

• Q3 net income was US$2.669m vs a US$1.851m loss; nine-month net loss was US$10.693m vs US$1.348m.

• Cash was US$10.464m at September 30, 2026; receivables and contract assets rose to US$10.2m from US$4.9m at June-end, partly offset by a US$3.3m increase in payables.

Outlook and guidance

• FY2026 guidance reaffirmed: revenue of $28m-$32m and Adjusted EBITDA of $11m-$13m; the fleet is fully contracted through year-end.

• Q4 activity is expected to be led by the Philippines program; North Africa conventional gravity project execution may affect where results fall within guidance.

• Azerbaijan work extended to November due to weather and air traffic restrictions, shifting activity into Q4 rather than eliminating work.

• FY2027 planning assumptions include gross margin of 60%-65% and quarterly cash operating expenses of $2m-$2.5m; higher H2 activity is expected to support operating cash inflows toward year-end and Q1 2027.