NXT Energy Solutions (SFD) Q3 2025 earnings summary

Executive summary

• Year-to-date SFD®-related revenue surged to $14.21 million from $0.60 million in YTD 2024, driven by major projects in Africa and Southeast Asia.

• Net loss for YTD 2025 narrowed to $1.08 million from $6.28 million in YTD 2024, reflecting improved operational performance.

• Excluding a $5.83 million non-cash charge from convertible debenture remeasurement, pre-tax operational results would show a profit of $4.75 million.

• Deployment to Pakistan for a new SFD® survey marks continued commercial momentum.

Financial highlights

• Q3-25 SFD®-related revenue was $91,922, up from nil in Q3-24; YTD 2025 revenue was $14.21 million, up from $0.60 million in YTD 2024.

• Net loss for Q3-25 was $1.78 million, compared to $1.48 million in Q3-24; YTD 2025 net loss was $1.08 million, down from $6.28 million in YTD 2024.

• Net loss per share for Q3-25 was $0.02 (basic and diluted), unchanged from Q3-24; YTD 2025 net loss per share was $0.01, improved from $0.08 in YTD 2024.

• Cash and short-term investments at September 30, 2025, were $0.95 million; net working capital was $2.60 million, up $9.28 million since December 31, 2024.

• Cash flow from operating activities was $0.73 million for YTD 2025, compared to $2.58 million used in YTD 2024.

Outlook and guidance

• Interpretations and recommendations for the Pakistan SFD® survey are expected in Q4 2025.

• Forward-looking statements highlight expectations for continued positive financial impact from SFD® surveys in 2025 and 2026 and a strategy focused on diversified revenue growth.