NXT Energy Solutions (SFD) Q2 2025 earnings summary

Executive summary

• SFDⓇ revenues reached $14.1 million for the first half of 2025, driven by repeat contracts and geographic diversification.

• Net income for YTD 2025 was $0.70 million, reduced by a $7.74 million non-cash charge from fair value adjustment to convertible debentures.

• Net working capital improved by $10.53 million, with significant convertible debenture conversions to equity.

• SFDⓇ survey contracts in Africa and Southeast Asia advanced, with new bookings targeted for 2026.

Financial highlights

• SFDⓇ-related revenues for YTD 2025 were $14.12 million, up from $0.60 million YTD 2024; Q2-25 revenues were $1.66 million versus nil in Q2-24.

• Net loss for Q2-25 was $6.98 million, including $6.40 million in non-cash charges; YTD 2025 net income was $0.70 million versus a $4.80 million loss YTD 2024.

• Net loss per share for Q2-25 was $0.08, compared to $0.04 in Q2-24; YTD 2025 net income per share was $0.01, versus a $0.06 loss in YTD 2024.

• Cash flow from operating activities was $1.81 million YTD 2025, compared to $1.26 million used in YTD 2024.

• Cash and short-term investments as of June 30, 2025, were $2.15 million; net working capital was $3.89 million.

Outlook and guidance

• SFDⓇ surveys are scheduled for the remainder of 2025, with contract bookings underway for 2026.

• Focus remains on delivering shareholder value through strong fundamentals and diversified revenue streams.