EverGen Infrastructure (EVGN) Q2 2025 earnings summary

Executive summary

• New management team installed, focused on optimization and long-term value creation.

• Achieved record quarterly RNG production, driven by Fraser Valley Biogas and GrowTEC ramp-up.

• Closed a $5 million private placement in May 2025 to recapitalize and support growth.

• Initiated optimization activities across core assets to enhance platform value.

• Intentional reset at organics and composting facilities to rebuild long-term value.

Financial highlights

• Q2 2025 revenues were $2.8 million, up from $1.9 million in Q1 2025, but down 34% year-over-year.

• Adjusted EBITDA was $0.34 million in Q2 2025, down 70% year-over-year.

• Net loss widened to $1.95 million from $0.88 million year-over-year.

• Cash and equivalents increased to $4.52 million from $0.40 million year-over-year.

• Revenues decreased year-over-year due to lower tipping revenues and no management fees from Project Radius, partially offset by higher RNG revenues.

Outlook and guidance

• Optimization and capital deployment expected to generate sustainable, scalable growth.

• RNG assets expected to maintain strong production levels, underpinning long-term value.

• Completion of debt refinancing and additional equity raise anticipated in Q3 2025.

• Composting facilities being prepped for transition to RNG assets, focusing on long-term solutions.