CEMATRIX (CVX) OTCQB Venture Virtual Investor Conference summary

Executive summary

• Leading provider of lightweight, durable cellular concrete for infrastructure, with a 25% CAGR in revenue since 2017 and record financial results in 2025.

• Strong competitive advantage based on team expertise, advanced equipment, and a 25-year track record, with operations across Canada and the U.S.

• Healthy balance sheet with CAD 16 million in cash at end of 2026, minimal debt, and positive cash flow from operations.

• Revenue is seasonal and project-driven, with large projects impacting quarterly results; focus remains on long-term growth and maintaining a 25% CAGR.

• U.S. market now represents about 80% of revenue, with growth focus and potential for acquisitions to accelerate expansion.

Market opportunity and strategy

• Significant and growing addressable market driven by aging infrastructure and increased spending in Canada and the U.S.

• Competitive moat centers on execution expertise and long-standing customer relationships, not proprietary mix designs.

• Largest growth opportunities are in infrastructure and geotechnical applications, such as tunnel grouting and MSE wall backfilling.

• Capital allocation prioritizes accretive acquisitions, with some funds for CapEx and share buybacks; focus on minimizing shareholder dilution.

• No need to raise capital for operations; future capital raises would support large acquisitions.

Financial performance and outlook

• Record year in 2025 for revenue, Adjusted EBITDA, cash flow, and EPS; positive trends continue into 2026.

• Margins fluctuate based on project size and contract structure, but overall gross margin dollars remain stable.

• SG&A expenses are declining as revenue grows, improving operating leverage.

• Backlog remains strong at CAD 61 million despite record revenue, supporting future growth.

• Share buyback program reduced share count for the first time, reflecting focus on shareholder value.