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Cleantek Industries Inc. Reports Strong Second Quarter 2025 Results Driven by International Growth
Calgary, Alberta--(Newsfile Corp. - August 14, 2025) - Cleantek Industries Inc. (TSXV: CTEK) (" C...
About this update from Cleantek Industries Inc.
[{"type":"text","content":"Cleantek Industries Inc. Reports Strong Second Quarter 2025 Results Driven by International GrowthCalgary, Alberta--(Newsfile Corp. - August 14, 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 second quarter ended June 30, 2025.Highlights for the Second Quarter 2025 (All amounts are in thousands of Canadian dollars unless otherwise indicated)Revenue increased 39% to $3,352 in Q2 2025, up from $2,411 in Q2 2024, driven by strong equipment sales and growing rental demand;Gross profit increased by 39% to $1,782, representing 53% of revenue, consistent with Q2 2024 gross profit of 53%;Net loss narrowed to $457 in Q2 2025, an improvement of $54 compared to a net loss of $511 in Q2 2024, with the improvement driven by higher revenue and partially offset by a $456 non-cash foreign exchange loss; and,Adjusted EBITDA(1) increased 241% to $778 for the quarter, compared to $228 in Q2 2024, primarily due to higher revenue. \"Q2 performance highlights the strength of our strategy, with meaningful top-line growth driven by our growing international presence and increased market share in North America. These results reflect the strength of our model and our ability to execute, even in a softer domestic environment,\" commented Riley Taggart, Cleantek's President and Chief Executive Officer.Looking ahead to Q3, Cleantek will continue to prioritize higher equipment utilization, global market expansion, and balance sheet strength. The Company's lean cost structure and integrated team approach provide a solid foundation for scalable growth in a rapidly evolving industry.Cleantek's research and development team continues to enhance the performance of our evaporator solutions by increasing salt and solids tolerance, while also pursuing manufacturing efficiencies aimed at improving long-term margins and innovation across Cleantek's solutions.Results of Operations(Canadian $000's, exceptThree months endedJune 30 Six months endedJune 30 per share amounts and percentages)20252024Change20252024ChangeRevenue3,3522,4119407,0576,081976Gross profit1,7821,2854974,1283,657471Gross profit % 53 53 (0)% 58 60 (2)%Net (loss) income(457)(511)5...