Canada's SHARC Energy Q1 revenue falls on project timing

Sharc International Systems

01/06/2026 13:13

Overview
Canada wastewater energy transfer firm's Q1 revenue fell 51% yr/yr on project timing
Q1 adjusted EBITDA loss narrowed 15% yr/yr to C$0.74 mln
Company completed C$2.5 mln financing after quarter-end, strengthening balance sheet

Outlook
Company expects C$6.9 mln sales order backlog to convert to revenue over 12 months
SHARC Energy anticipates continued growth supported by record backlog and expanding pipeline
Company expects gross margins to remain in current range, subject to sales mix variation

Result Drivers
PROJECT TIMING - Co said Q1 revenue was affected by timing of project milestones and equipment deliveries
RECORD BACKLOG - Co said sales order backlog more than doubled since December 2025, supporting future revenue visibility
SECTOR DIVERSIFICATION - Co cited new orders across district energy, airports, wastewater plants, residential, and government projects as evidence of growing demand

Company press release: ID:nGNX9RRTz7

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EBITDA
 
-C$740,000
 
Q1 Gross Margin
 
31.5%

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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.)