EnWave (ENW) Planet MicroCap Showcase: TORONTO 2025 summary

Business overview and technology

• Commercializes proprietary vacuum-microwave dehydration technology for food, cannabis, and pharmaceuticals.

• Technology enables low-temperature, efficient dehydration, preserving nutritional value and product quality.

• Holds 18 granted patents globally, with additional patents filed, protecting machinery and processing protocols.

• Over 50 commercial partners, including major CPGs and co-manufacturers, across 24 countries.

• Technology offers faster processing, lower energy use, and better product attributes than freeze-drying.

Revenue model and financials

• Generates revenue from machine sales (30% gross margin) and royalties (2–5% of partner revenue or per unit produced).

• Fiscal 2024 royalties just under CAD 2 million; fiscal 2025 is break-even with four large and eight small machines sold.

• Expects to sell at least six large-scale and four to six small machines in fiscal 2026, targeting positive EBITDA.

• Royalty revenue expected to grow as installed machine base and utilization increase.

• Recent CAD 3 million financing and CAD 5 million line of credit provide strong liquidity.

Market expansion and partnerships

• Actively expanding in Europe, Gulf region, and South America, supported by new sales hires.

• Partners include Dole, BranchOut Food, and MicroDried, with applications in fruit, vegetables, dairy, meat, pet food, and cannabis.

• Pet food segment expected to be a breakout area in fiscal 2026.

• Ongoing support and innovation provided to partners, differentiating from typical OEMs.

• Sales cycle for new partners has shortened to about three months; repeat orders dominate pipeline.