Canada's SHARC Energy Q2 revenue falls 68% on project timing; names interim CEO, CFO

Sharc International Systems

25/08/2026 22:16

Overview
Canada wastewater thermal energy provider's Q2 revenue fell 68% yr/yr due to project timing
Q2 adjusted EBITDA loss widened compared to prior yr
Company completed C$2.5 mln convertible debenture financing, boosting liquidity
Subsequent to quarter-end, SHARC Energy named interims CEO, CFO

Outlook
SHARC Energy reports sales order backlog of C$5.4 mln and sales pipeline of C$17.9 mln as of Aug 25, 2026
Company says timing of project milestones will continue to cause variability in revenue recognition
SHARC Energy aims to develop more consistent and recurring revenue sources over time

Result Drivers
PROJECT TIMING - Co said Q2 revenue decline was mainly due to timing of project milestones, production schedules and equipment deliveries for larger, more complex projects
PRODUCT MIX AND PROJECT SCOPE - Co said gross margin variability was due to changes in product mix, project scope, geography and stage of project completion

Company press release: ID:nGNX13TJXv

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
C$270,000
 
Q2 Adjusted EBITDA
 
-C$770,000
 
Q2 Gross Margin
 
41.40%
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)