Cleantek Industries Inc. Reports Strong Third Quarter 2025 Results
Cleantek Industries (GLKFF) reported Q3 2025 results for the quarter ended September 30, 2025 showing revenue of $3,282K, up 18% year-over-year from $2,779K, and gross profit of $1,889K (58% of revenue).
EBITDA rose 105% to $1,135K, while adjusted EBITDA slightly declined to $985K. Net income improved to $352K versus a loss of $211K in Q3 2024. Capital expenditures increased to $746K for the quarter.
The company cited market share gains in equipment rentals and international sales, margin pressure from revenue mix and higher transport costs, and plans to pursue further international expansion and utilization in Q4 2025.
Cleantek Industries (GLKFF) ha pubblicato i risultati del terzo trimestre 2025 per il trimestre terminato il 30 settembre 2025, con ricavi di $3,282K, in aumento dell'18% anno su anno rispetto a $2,779K, e un utile lordo di $1,889K (58% dei ricavi).
L'EBITDA è aumentato del 105% a $1,135K, mentre l'EBITDA rettificato è leggermente diminuito a $985K. L'utile netto è migliorato a $352K rispetto a una perdita di $211K nel Q3 2024. Le spese in conto capitale sono aumentate a $746K per il trimestre.
La società ha citato guadagni di quota di mercato nel noleggio di attrezzature e nelle vendite internazionali, pressioni sui margini dovute alla composizione dei ricavi e a costi di trasporto più elevati, e progetti di perseguire ulteriora espansione internazionale e maggiore utilizzo nel quarto trimestre 2025.
Cleantek Industries (GLKFF) reportó resultados del tercer trimestre de 2025 para el trimestre terminado el 30 de septiembre de 2025, con ingresos de $3,282K, un incremento del 18% interanual respecto a $2,779K, y una utilidad bruta de $1,889K (58% de los ingresos).
El EBITDA aumentó un 105% hasta $1,135K, mientras que el EBITDA ajustado cayó ligeramente a $985K. La utilidad neta mejoró a $352K frente a una pérdida de $211K en el Q3 2024. Las inversiones de capital aumentaron a $746K para el trimestre.
La compañía citó ganancias de cuota de mercado en alquiler de equipos y ventas internacionales, presión de margen por la mezcla de ingresos y mayores costos de transporte, y planes para continuar con una expansión internacional y mayor utilización en el 4T 2025.
Cleantek Industries (GLKFF) 2025년 3분기 실적 발표: 2025년 9월 30일 종료 분기의 매출은 $3,282K, 전년 동기 대비 18% 증가, 매출원가 대비 매출 58%에 해당하는 $1,889K의 매출총이익.
EBITDA는 105% 증가한 $1,135K, 조정 EBITDA는 소폭 감소하여 $985K. 순이익은 2024년 Q3의 $211K 손실에서 $352K 흑자로 개선. 분기 CAPEX는 $746K로 증가.
회사는 장비 대여 및 국제 매출에서 점유율 확대를 언급하며 매출 구성으로 인한 마진 압박 및 운송비 증가를 이유로 들고, 2025년 4분기에 추가 국제 확장 및 활용을 추구할 계획이라고 밝혔다.
Cleantek Industries (GLKFF) a publié les résultats du T3 2025 pour le trimestre clos le 30 septembre 2025, avec un chiffre d'affaires de $3,282K, en hausse de 18% d'une année sur l'autre par rapport à $2,779K, et un bénéfice brut de $1,889K (58% du chiffre d'affaires).
L'EBITDA a augmenté de 105% pour atteindre $1,135K, tandis que l'EBITDA ajusté a légèrement diminué pour s'établir à $985K. Le résultat net s'est amélioré à $352K contre une perte de $211K au T3 2024. Les dépenses d'investissement (CAPEX) ont augmenté à $746K pour le trimestre.
L'entreprise a cité des gains de parts de marché dans la location d'équipements et les ventes internationales, une pression sur les marges due à la répartition des revenus et à des coûts de transport plus élevés, et prévoit de poursuivre une expansion internationale et une meilleure utilisation au Q4 2025.
Cleantek Industries (GLKFF) meldete die Ergebnisse für das dritte Quartal 2025 für das am 30. September 2025 endende Quartal, mit einem Umsatz von $3,282K, eine Steigerung von 18% gegenüber $2,779K, und einem Bruttogewinn von $1,889K (58% des Umsatzes).
Das EBITDA stieg um 105% auf $1,135K, während das bereinigte EBITDA leicht auf $985K zurückging. Der Nettogewinn verbessert sich auf $352K gegenüber einem Verlust von $211K im Q3 2024. Kapitalausgaben erhöhten sich im Quartal auf $746K.
Das Unternehmen verwies auf Marktanteilsgewinne bei Gerätemieten und internationalen Verkäufen, Margendruck durch die Umsatzzusammensetzung und höhere Transportkosten, und plant, im vierten Quartal 2025 eine weitere internationale Expansion und Nutzung voranzutreiben.
Cleantek Industries (GLKFF) أعلنت عن نتائج الربع الثالث من 2025 للربع المنتهي في 30 سبتمبر 2025، بإيرادات قدرها $3,282K، مرتفعة بنسبة 18% مقارنة بالعام السابق من $2,779K، وهو هامش إجمالي قدره $1,889K (58% من الإيرادات).
ارتفع EBITDA بنسبة 105% ليصل إلى $1,135K، بينما انخفض EBITDA المعدل قليلاً إلى $985K. تحسن صافي الدخل إلى $352K مقابل خسارة قدرها $211K في الربع الثالث من 2024. ارتفعت النفقات الرأسمالية إلى $746K للربع.
وقالت الشركة إنها حققت مكاسب في حصة السوق في تأجير المعدات والمبيعات الدولية، وضغط الهامش نتيجة مزيج الإيرادات وارتفاع تكاليف النقل، وتخطط لمواصلة التوسع الدولي وزيادة الاستخدام في الربع الرابع من 2025.
- Revenue +18% to $3,282K in Q3 2025
- EBITDA +105% to $1,135K in Q3 2025
- Net income turned positive to $352K in Q3 2025
- Gross margin down 5 percentage points to 58% in Q3 2025
- Adjusted EBITDA down 2% to $985K in Q3 2025
- Quarterly capital expenditures rose to $746K
Calgary, Alberta--(Newsfile Corp. - November 17, 2025) - Cleantek Industries Inc. (TSXV: CTEK) ("Cleantek" or the "Company"), a leading provider of patented clean technology solutions for wastewater management and industrial lighting sectors, is pleased to report its financial and operational results for the third quarter ended September 30, 2025.
Highlights for the Third Quarter 2025
(All amounts are in thousands of Canadian dollars unless otherwise indicated)
Revenue increased
18% to$3,282 in Q3 2025, up from$2,779 in Q3 2024, driven by market share gains in equipment rentals and international equipment sales;Gross profit increased by
9% to$1,889 , representing58% of revenue, compared to Q3 2024 gross profit of62% The reduced gross margin percentage is due to changes in revenue mix and higher transportation costs;EBITDA increased
105% to$1,135 for the quarter, compared to$553 in Q3 2024;Adjusted EBITDA(1) decreased
2% to$985 for the quarter, compared to$1,006 in Q3 2024, largely due to a gain/loss on disposal of assets adjustment and the impact of unrealized FX gain/loss;Net income improved to
$352 in Q3 2025, an increase of$563 compared to a net loss of$211 in Q3 2024, with the improvement driven by higher revenue.
"Our Q3 results again emphasize the strength of our business model and our ability to execute in what continues to be a softer North American market. Our sales team continues to uncover new and exciting opportunities for the business, and our operations team continues to perform in an incredibly efficient manner," commented Riley Taggart, Cleantek's President and Chief Executive Officer.
Looking ahead to Q4, Cleantek will continue to pursue market share gains, international expansion, increased utilization, and iterative product development. The Company's commitment to a lean cost structure and innovative products provides a solid foundation for scalable growth in a rapidly evolving industry.
Results of Operations
| Three months ended | Nine months ended | |||||
| September 30, | September 30, | |||||
| (Canadian | 2025 | 2024 | Change | 2025 | 2024 | Change |
| Revenue | 3,282 | 2,779 | 503 | 10,339 | 8,860 | 1,479 |
| Gross profit | 1,889 | 1,729 | 160 | 6,013 | 5,386 | 628 |
| Gross profit % | ( | ( | ||||
| Net (loss) income | 352 | (211) | 563 | 340 | (201) | 541 |
| Net (loss) income per share - basic ($) | ||||||
| Net (loss) income per share - diluted ($) | ||||||
| EBITDA(1) | 1,135 | 553 | 582 | 2,601 | 2,268 | 333 |
| Adjusted EBITDA(1) | 985 | 1,006 | (21) | 3,030 | 2,440 | 590 |
| Capital expenditures | 746 | 114 | 632 | 1,565 | 345 | 1,220 |
(1) Management considers EBITDA and adjusted EBITDA key metrics in analyzing operational performance and the Company's ability to generate cash flow. EBITDA is measured as net income (loss) before interest, tax, depreciation, and amortization. Adjusted EBITDA is measured as EBITDA adjusted for share-based compensation and unusual items not representative of ongoing business performance, such as gains and losses on the sale of assets and the impact of unrealized foreign exchange gains and losses. Working capital (or also referred to as net current assets/liabilities) for Cleantek is calculated as current assets less current liabilities per the statement of financial position. Non-current debt includes the non-current portion of long-term debt and lease liabilities per the Non-Current Liabilities on the statement of financial position. These items are not defined and have no standardized meaning under IFRS. Presenting these items from period to period provides management and investors with the ability to evaluate earnings trends more readily in comparison with prior periods' results. Please see "Non-IFRS Measurements" for further discussion of these items, and where applicable, reconciliations to measures calculated in accordance with IFRS.
About Cleantek Industries Inc.
Cleantek is a clean energy technology company focused on ESG-accretive solutions, providing specialized and fully integrated wastewater treatment, disposal equipment, and turnkey sustainable lighting rental solutions. By leveraging patented technology and industry expertise, Cleantek delivers tailored, cost-effective solutions to a diverse client base, including blue-chip exploration and production companies across North America. With a focus on sustainability, safety, and operational excellence, Cleantek is well-positioned to meet the rising water treatment and sustainable lighting market demand. Our proven track record and commitment to innovation drive long-term value creation in the clean technology sector.
Selected financial and operation information is outlined below and should be read in conjunction with Cleantek's unaudited condensed consolidated interim financial statements and management's discussion and analysis ("MD&A") for the three and nine months ended September 30, 2025 and the audited consolidated financial statements for the years ended December 31, 2024 and 2023, which are available on the Company's SEDAR profile at www.sedarplus.ca.
NON-IFRS MEASUREMENTS
Cleantek uses certain financial measures to quantify its results that are not prescribed by IFRS. The following terms: "EBITDA", "adjusted EBITDA", "working capital", and "non-current debt" are not recognized measures under IFRS and may not be comparable to those reported by other companies. Cleantek believes that, in addition to measures prepared in accordance with IFRS, the non-IFRS measurements provide useful information to evaluate the Company's performance and ability to generate cash, profitability, and meet financial commitments.
These non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
EBITDA and Adjusted EBITDA
Management considers EBITDA and adjusted EBITDA key metrics in analyzing operational performance and the Company's ability to generate cash flow. EBITDA is measured as net income (loss) before interest, tax, depreciation, and amortization, as differences in accounting treatments may distort our core business results. Adjusted EBITDA is measured as EBITDA adjusted for certain non-cash items, including share-based compensation, gains and losses on sale of assets, impact of unrealized foreign exchange gains and losses, as well as unusual items not representative of ongoing business performance, such as litigation expense and settlements, and executive severance.
The following table provides a reconciliation of the non-IFRS measures, EBITDA, and adjusted EBITDA, to the applicable IFRS measurements for Cleantek:
| Three months ended | Nine months ended | |||||
| September 30, | September 30, | |||||
| (Canadian | 2025 | 2024 | Change | 2025 | 2024 | Change |
| Net income | 352 | (211) | 564 | 340 | (201) | 541 |
| Tax expense | 21 | - | 21 | 64 | 36 | 28 |
| Depreciation and amortization | 535 | 530 | 5 | 1,530 | 1,700 | (171) |
| Finance costs | 226 | 234 | (7) | 667 | 733 | (67) |
| EBITDA | 1,135 | 553 | 582 | 2,601 | 2,268 | 333 |
| Share-based compensation | 46 | 22 | 24 | 118 | 71 | 46 |
| (Gain) loss on disposal of long-lived assets | (84) | 33 | (117) | (43) | (2) | (42) |
| Litigation expense/severance | 73 | 273 | (200) | 77 | 273 | (196) |
| Unrealized FX (gain) loss | (185) | 125 | (310) | 277 | (171) | 449 |
| Adjusted EBITDA | 985 | 1,006 | (21) | 3,030 | 2,440 | 590 |
Working capital
Working capital (or also referred to as net current assets/liabilities) for Cleantek is calculated as current assets less current liabilities per the statement of financial position. The following table provides a reconciliation of working capital, a non-IFRS measure, to the applicable IFRS measurements for the Company:
| (Canadian | September 30, 2025 | December 31, 2024 |
| Current assets | 4,485 | 3,228 |
| Current liabilities | 5,405 | 5,167 |
| Working capital deficit | (919) | (1,939) |
Non-current debt
Management considers non-current debt in analyzing the Company's capital structure. Cleantek's capital structure consists of working capital, non-current debt, and shareholders' equity. Non-current debt measures the long-term borrowings of the Company. Non-current debt for Cleantek is calculated as the non-current portions of long-term debt and lease liabilities. The following table provides a reconciliation of non-current debt, a non-IFRS measure, to the applicable IFRS measurements for the Company:
| (Canadian | September 30, 2025 | December 31, 2024 |
| Long-term debt - non-current portion | 6,403 | 6,534 |
| Lease liabilities - non-current portion | 743 | 551 |
| Non-current debt | 7,145 | 7,085 |
For Further Information:
Riley Taggart, President & Chief Executive Officer
E-mail: rtaggart@cleantekinc.com
Tel: 403-567-8700
www.cleantekinc.com
LinkedIn
X
Forward-Looking Statements
This news release contains certain "forward-looking statements" including, for example, statements relating to expected improved financial flexibility, additional growth, potential Middle East expansion, expansion of Cleantek's fleet of sustainable lighting solutions and EcoSteam wastewater treatment assets, the expected deployment of Cleantek's assets, available liquidity, Cleantek's outlook for the future, and near-term strategy. Such forward-looking statements involve risks and uncertainties, both known and unknown. The results or events depicted in these forward-looking statements may differ materially from actual results or events. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding and are implicit in, among other things: receipt of regulatory approvals, the state of the capital markets, the ability of the Corporation to successfully manage the risks inherent in pursuing business opportunities in the oilfield services industry and outside the North American market, and the ability of the Corporation to obtain qualified staff, equipment and services in a timely and cost efficient manner to develop its business. Any forward-looking statement reflects information available to Cleantek as of the date of this news release and, except as may be required by applicable securities laws, Cleantek disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274832
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