Clear Blue Technologies International (CBLU) Q4 2025 earnings summary

Executive summary

• Fiscal 2025 marked a reset year with major financial restructuring, strategic partnerships, and the Clear Blue 2.0 growth plan targeting space-satellite and telecom markets.

• Achieved 18% revenue growth in FY2025, driven by increased North American lighting activity and execution of Clear Blue 2.0.

• Focus shifted to achieving positive EBITDA and cash flow, with cost reductions and AI adoption as key enablers.

• Strategic partnerships with Eutelsat and Cooper Lighting drove bookings and positioned the company for growth in satellite and utility markets.

• The company is targeting space satellite, telecom, and large-scale customer partnerships for 2026, with new business development in the Middle East, Europe, and Africa.

Financial highlights

• FY2025 revenue was $3,247,724, up 18% year-over-year; gross profit rose 18% to $1,591,445, with gross margin steady at 49%.

• Bookings increased by 122% year-over-year, from CAD 2.8M in 2024 to over CAD 5.2M in 2025.

• FY2025 net loss improved 65% to $3,886,322; Adjusted EBITDA loss improved 17% to $(2,466,399).

• Operating expenses were reduced by over CAD 1.2M in 2025 and by more than 20% year-over-year in Q1 2026.

• Working capital as of March 31, 2026, was $891,689, up from $222,940 at year-end 2025.

Outlook and guidance

• Clear Blue 2.0 strategy focuses on mainstream satellite and telecom markets, aiming for higher sales volumes and positive Adjusted EBITDA.

• No formal guidance provided, but positive EBITDA and cash flow are targeted for 2026.

• Q2 2026 revenue expected to be similar to Q1 (CAD 1M), with potential for a strong back half of 2026 as telecom rollouts progress.

• Additional cost reductions of CAD 950,000 and $700,000 in OpEx plus $250,000 in cash-related reductions planned for 2026.

• Large SR&ED tax refund (over CAD 500,000) expected in Q3 2026.