CEMATRIX (CVX) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 financial results with revenue of $18.7M, up 76% year-over-year, and record H1 revenue of $26.0M, up 50% year-over-year.

• Adjusted EBITDA reached a record $5.0M in Q2 and $4.4M for H1, more than doubling year-over-year.

• Maintained industry leadership in cellular concrete and a strong competitive position in North America, benefiting from infrastructure spending.

• Strong operational execution with two large projects completed in Q2, contributing to results.

• Maintains a strong balance sheet with increased cash reserves and no long-term debt.

Financial highlights

• Q2 2026 revenue was $18.7M, up 76% from $10.6M in Q2 2025; H1 revenue reached $26.0M, a 50% increase year-over-year.

• Adjusted EBITDA for Q2 2026 was $5.0M, more than double the $2.4M in Q2 2025; H1 adjusted EBITDA was $4.4M.

• Gross margin in Q2 2026 was 35%, down from 39% in Q2 2025; H1 gross margin was 28%, down from 32%.

• Cash flow from operations in Q2 was $4.8M, with a cash balance of $16.2M at June 30, 2026.

• Operating income for Q2 was $4.3M, up from $1.8M in Q2 2025.

Outlook and guidance

• 2026 is forecasted to be another strong year, supported by a robust backlog and continued infrastructure spending in Canada and the US.

• Management targets a 30% gross margin moving forward.

• No plans to raise capital or issue new shares; any new capital would support accretive acquisitions.

• SG&A expected to trend lower than last year, with some reinvestment in sales and support.

• Expect Q3 performance to be similar to last year’s Q3, with a busy construction season until winter.