SATO Technologies (SATO) Q4 2025 earnings summary

Executive summary

• Pivoted business model toward AI compute infrastructure, advancing a multi-phase plan to repurpose part of its Center One facility for high-density AI compute capacity.

• Fully built and grid-connected 20 MW hydro-powered facility at Center One, positioning as a leading Canadian platform at this scale.

• Entered a forbearance arrangement with its long-term lender and completed a $1.375 million private placement after year-end.

Financial highlights

• Revenue for 2025 was $11.66 million, down 28% year-over-year from $16.10 million in 2024.

• 82 BTC mined in 2025, compared to 190 BTC in 2024.

• Gross profit dropped to $189,093 from $3.05 million in 2024.

• Net loss of $(4,373,241) versus net income of $1,174,647 in 2024.

• Compute Power Profit was $2,268,978, down from $5,956,446 in 2024.

• Adjusted EBITDA was $(186,067), compared to $2,827,330 in 2024.

Outlook and guidance

• Management is focused on executing the AI transition and securing capital to deliver on the new strategy.

• Engaging with prospective clients amid growing demand for 20 MW-class AI compute capacity in Canada.