SHARC Energy Announces Q2 2025 Financial Results
SHARC Energy (OTCQB:INTWF) reported strong Q2 2025 financial results, with YTD revenue reaching $1.86M, representing 86% of full-year 2024 revenue and a 19% increase over YTD 2024. Q2 2025 revenue grew 9% to $0.85M compared to Q2 2024.
The company maintains a robust Sales Pipeline of $16.6M and a Sales Order Backlog of $3.7M, marking a 3% growth since May 2025. Gross margins were 44% in Q2 2025 and 37% YTD 2025. The company reported Q2 2025 loss of $0.82M and Adjusted EBITDA loss of $0.46M.
Notable developments include the implementation of SHARC Wastewater Energy Transfer systems in major projects like Lebreton Flats in Ottawa and Sen̓áḵw in Vancouver, plus a recent $1.57M convertible debenture closing.
SHARC Energy (OTCQB:INTWF) ha comunicato solidi risultati finanziari nel 2° trimestre 2025: i ricavi da inizio anno (YTD) hanno raggiunto 1,86 M$, pari all'86% dei ricavi dell'intero 2024 e con un aumento del 19% rispetto al YTD 2024. I ricavi del 2° trimestre 2025 sono cresciuti del 9%, arrivando a 0,85 M$ rispetto al 2° trimestre 2024.
L'azienda mantiene un pipeline vendite di 16,6 M$ e un backlog ordini di 3,7 M$, con una crescita del 3% rispetto a maggio 2025. I margini lordi sono stati del 44% nel 2° trimestre 2025 e del 37% nel YTD 2025. La società ha registrato una perdita di 0,82 M$ nel 2° trimestre 2025 e una perdita di EBITDA rettificato di 0,46 M$.
Tra gli sviluppi più rilevanti figurano l'implementazione dei sistemi SHARC Wastewater Energy Transfer in progetti importanti come Lebreton Flats a Ottawa e Sen̓áḵw a Vancouver, oltre alla recente chiusura di un convertible debenture da 1,57 M$.
SHARC Energy (OTCQB:INTWF) presentó sólidos resultados financieros del 2T 2025: los ingresos acumulados (YTD) alcanzaron 1,86 M$, representando el 86% de los ingresos de todo 2024 y un incremento del 19% respecto al YTD 2024. Los ingresos del 2T 2025 aumentaron un 9%, llegando a 0,85 M$ frente al 2T 2024.
La compañía mantiene un robusto pipeline de ventas de 16,6 M$ y un backlog de pedidos de 3,7 M$, con un crecimiento del 3% desde mayo de 2025. Los márgenes brutos fueron del 44% en el 2T 2025 y del 37% en el YTD 2025. La empresa reportó una pérdida de 0,82 M$ en el 2T 2025 y una pérdida de EBITDA ajustado de 0,46 M$.
Entre las novedades destacadas están la implementación de los sistemas SHARC Wastewater Energy Transfer en proyectos mayores como Lebreton Flats en Ottawa y Sen̓áḵw en Vancouver, además del reciente cierre de un convertible debenture por 1,57 M$.
SHARC Energy (OTCQB:INTWF)는 2025년 2분기 견조한 실적을 보고했습니다. 연초 이후(YTD) 매출이 186만 달러로 집계되어 2024년 연간 매출의 86%에 해당하며 YTD 2024 대비 19% 증가했습니다. 2025년 2분기 매출은 전년 동기 대비 9% 증가한 85만 달러를 기록했습니다.
회사는 판매 파이프라인 1,660만 달러와 수주 잔고 370만 달러를 유지하고 있으며, 2025년 5월 이후 3% 성장했습니다. 2025년 2분기 총이익률은 44%, YTD 2025는 37%였습니다. 2025년 2분기 순손실은 82만 달러, 조정 EBITDA 손실은 46만 달러였습니다.
주요 소식으로는 오타와의 Lebreton Flats와 밴쿠버의 Sen̓áḵw 같은 대형 프로젝트에 SHARC Wastewater Energy Transfer 시스템을 도입한 점과 최근 157만 달러 규모 전환사채(closed convertible debenture)의 체결이 포함됩니다.
SHARC Energy (OTCQB:INTWF) a annoncé de solides résultats pour le 2e trimestre 2025 : les revenus cumulatifs (YTD) ont atteint 1,86 M$, soit 86% des revenus annuels 2024 et une hausse de 19% par rapport au YTD 2024. Les revenus du T2 2025 ont augmenté de 9%, pour atteindre 0,85 M$ par rapport au T2 2024.
La société dispose d'un solide pipeline commercial de 16,6 M$ et d'un carnet de commandes de 3,7 M$, en croissance de 3% depuis mai 2025. Les marges brutes étaient de 44% au T2 2025 et de 37% en YTD 2025. La société a enregistré une perte de 0,82 M$ au T2 2025 et une perte d'EBITDA ajusté de 0,46 M$.
Parmi les faits marquants : le déploiement des systèmes SHARC Wastewater Energy Transfer sur des projets majeurs comme Lebreton Flats à Ottawa et Sen̓áḵw à Vancouver, ainsi que la récente clôture d'un convertible debenture de 1,57 M$.
SHARC Energy (OTCQB:INTWF) meldete starke Finanzergebnisse für Q2 2025: die Umsätze seit Jahresbeginn (YTD) beliefen sich auf 1,86 Mio. $, was 86% der Umsätze des Gesamtjahres 2024 entspricht und einem Anstieg von 19% gegenüber YTD 2024. Die Umsätze im 2. Quartal 2025 wuchsen um 9% auf 0,85 Mio. $ im Vergleich zum 2. Quartal 2024.
Das Unternehmen verfügt über eine robuste Vertriebspipeline von 16,6 Mio. $ und einen Auftragsrückstand (Backlog) von 3,7 Mio. $, was seit Mai 2025 einem Wachstum von 3% entspricht. Die Bruttomargen lagen im Q2 2025 bei 44% und YTD 2025 bei 37%. Für Q2 2025 wurde ein Verlust von 0,82 Mio. $ und ein bereinigtes EBITDA-Verlust von 0,46 Mio. $ ausgewiesen.
Zu den bemerkenswerten Entwicklungen zählt die Implementierung der SHARC Wastewater Energy Transfer-Systeme in Großprojekten wie Lebreton Flats in Ottawa und Sen̓áḵw in Vancouver sowie der jüngste Abschluss einer wandlungsfähigen Schuldverschreibung (convertible debenture) über 1,57 Mio. $.
- Revenue growth of 19% YTD and 9% in Q2 2025 compared to 2024
- Strong Sales Order Backlog of $3.7M, representing 71% improvement over 2024 revenue
- Healthy gross margins of 44% in Q2 2025
- Significant project wins including Sen̓áḵw and Lebreton Flats district energy systems
- Successfully raised $1.57M through convertible debenture offering
- Net loss increased 15% to $0.82M in Q2 2025
- YTD 2025 Adjusted EBITDA loss increased 4% to $1.07M
- Gross margins declined from 41% in Q2 2024 to 37% YTD 2025
- Company remains unprofitable with continued operational losses
VANCOUVER, British Columbia, Aug. 29, 2025 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is pleased to announce it has filed financial results for the three and six months ended June 30, 2025. All figures are in Canadian Dollars and in accordance with IFRS unless otherwise stated.
Second Quarter and Year to Date (YTD) Financial Highlights:
- Revenue for the six months ended June 30, 2025 (“YTD 2025”) is
$1.86 million (M), representing86% of the full year revenue in 2024 and a19% increase over the$1.56M of revenue reported in the six months ended June 30, 2024 (“YTD 2024”). Revenue increased9% to$0.85M for the three months ended June 30, 2025 (“Q2 2025”) compared to$0.78M reported for the three months ended June 30, 2024 (“Q2 2024”).
- As of August 29, 2025, the Company has a Sales Pipeline¹ of 16.6M and Sales Order Backlog² of
$3.7M . This represents a ~$0.2M increase or3% growth in Sales Order Backlog since May 30, 2025 disclosure. Sales Pipeline saw a nominal increase since May 30, 2025 disclosure reflecting the deliberate efforts by the Company to refill the pipeline once projects convert to the order book. The combined pipeline showed an aggregate growth of1% or$0.2M from the previous disclosure on May 30, 2025. The$3.7M Sales Order Backlog, which is estimated to be converted to revenue within an average of 12 months from disclosure, represents a71% improvement compared to the year ended December 31, 2024 revenue of$2.17M . The Company continues to observe the maturity of its Sales Pipeline leading to improved revenue consistency and reduced volatility, providing a strong platform to scale and grow.
- During Q2 2025, the Company reported a loss of
$0.82M and an Adjusted EBITDA³ loss of$0.46M . This compares to a loss of$0.71M and an Adjusted EBITDA loss of$0.49M in the comparative quarter representing a15% increase and7% decrease, respectively.
- During YTD 2025, the Company reported a loss of
$1.7M and an Adjusted EBITDA loss of$1.07M . This contrasts to a loss of$1.48M and an Adjusted EBITDA loss of$1.03M in the comparative period representing a17% and4% increase, respectively.
- Gross margins for Q2 2025 and YTD 2025 were
44% and37% , respectively, demonstrating the Company’s resilience despite variances from the impressive41% and39% reported in Q2 2024 and YTD 2024, respectively. Management remains optimistic that this margin range aligns with our expectations for the coming quarters but the margin percentage varies dependent on sales mix and stage of completion of each project.
Michael Albertson, Chief Executive Officer and President of SHARC Energy, said, "We are continuing our strong start to the 2025 fiscal year with the Company reporting revenue of
Mr. Albertson continues, “We recently disclosed key District Energy System (“DES”) projects, Lebreton Flats in Ottawa and Sen̓áḵw in Vancouver, which are leveraging SHARC Wastewater Energy Transfer (WET) systems as the core component to power their thermal networks harnessing wastewater as the key renewable resource. WET supported solutions continue to grow in awareness and acceptance with the Company learning of projects in planning across North America and globally. In the Greater Vancouver, British Columbia region alone, there are several municipal or utility supported DES/Thermal Energy Networks (“TENs”) ranging in size and scale in different stages of development that will increase SHARC Energy’s local footprint as early as this year. In the United States, legislation allowing or mandating utilities to develop DES/TENs demonstration projects or pilots have been passed in eight states, including the State of New York and recently added California, where the Company has installations in progress, projects in design and a growing list of leads looking to implement Wastewater Energy Transfer with DES/TENs. This was further highlighted by the recent disclosure of shipment of two SHARC WET systems to a U.S. government-affiliated project.”
“We are continuing to progress into new sectors for the SHARC and PIRANHA with promising opportunities developing within wastewater treatment facilities, universities, water utilities, correctional facilities and the design & build/energy sectors. These sectors are increasingly receptive to SHARC Energy's offerings which is promising as these sectors can provide fewer regulatory hurdles, long-term customer relationships, shorter sales cycles, and the potential for larger-scale projects. The Company anticipates the closing of new business in these adjacent sectors as early as this year.”
“Furthermore, SHARC Energy is gearing up to launch new products in its portfolio which will be introduced to the market soon. With the support of original equipment manufacturer relationships SHARC Energy has, we feel there is significant opportunity to better serve more customers and increase our revenue and margin dollars earned going forward. SHARC Energy’s tailwinds are strong and set to propel the Company to profitability in the coming years. We are very excited about our position in the thermal energy market.” stated Mr. Albertson.
YTD 2025 Highlights and Subsequent Events
- SHARC System Powers Groundbreaking Sen̓áḵw District Energy System. The SHARC WET system will be the core component of the Sen̓áḵw Energy System, the largest real estate development in Canadian First Nations history. The SHARC WET system was shipped to the project in Q2 2025.
- SHARC Systems Shipped to US Government-Affiliated Project. The Company announced the shipment of two SHARC 880 WET Systems to a U.S. government-affiliated project. Further information about the project will be released at a later stage.
- SHARC System Featured in Ottawa’s Lebreton Flats District Energy Project. The Company announced that two SHARC 880 Wastewater Energy Transfer (“WET”) systems will be used to power a district energy system in Canada’s capital city. SHARC Energy anticipates commencing submittals for the SHARC WET Systems in 2025 with equipment build and delivery expected during 2026.
- False Creek Neighbourhood Energy Utility (“NEU”) Expansion. The Company continued work on the supply and maintenance agreement with the City of Vancouver for the provision and maintenance of five SHARC systems for the False Creek NEU Expansion. During the three months ended March 31, 2025, the Company completed all remaining milestones of the agreement.
- Closing of
$1.57 Million Unsecured Convertible Debenture. Subsequent to YTD 2025, SHARC Energy has closed a non-brokered private placement of unsecured convertible debentures of the Company for a principal amount of$1,570,000.
- Fred Andriano appointed as Chairman of the Board of Directors. On May 5, 2025, the Company announced significant changes to its Board of Directors, appointing Fred Andriano as Chairman of the Board and Executive Officer, replacing Lynn Mueller, who will now serve as Vice Chairman and Executive Officer. Furthermore, the Company accepted the retirement and resignation of Eleanor Chiu as Director.
For complete financial information for the three and six months ended June 30, 2025, please see the Condensed Consolidated Interim Financial Statements and Management Discussion and Analysis (“MD&A”) filed on SEDAR at www.sedar.com.
About SHARC Energy
SHARC International Systems Inc. is a world leader in energy recovery from the wastewater we send down the drain every day. SHARC Energy's systems recycle thermal energy from wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & hot water production for commercial, residential, and industrial buildings along with thermal energy networks, commonly referred to as “District Energy”.
SHARC Energy is publicly traded in Canada (CSE: SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt: IWIA) and you can find out more on our SEDAR profile.
Learn more about SHARC Energy: Website | Investor Page | LinkedIn | YouTube | PIRANHA | SHARC
ON BEHALF OF THE BOARD
Fred Andriano
Chairman
| For investor inquiries, please contact: Hanspaul Pannu Chief Financial & Operating Officer SHARC Energy Telephone: (604) 475-7710 ext. 4 Email: hanspaul.pannu@sharcenergy.com | For media inquiries, please contact: Mike Tanyi Director of Marketing & IT SHARC Energy Telephone: 604.475.7710 Ext.109 Email: mike.tanyi@sharcenergy.com |
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified using words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. SHARC Energy’s actual results could differ materially from those anticipated in this forward-looking information because of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. SHARC Energy believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether because of new information, future events or otherwise, except as required by applicable securities legislation.
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¹ Sales Pipeline is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q2 2025 MD&A.
² Sales Order Backlog is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q2 2025 MD&A.
³ Adjusted EBITDA is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q2 2025 MD&A.
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