Business
EnWave Reports 2025 Fourth Quarter and Annual 2025 Consolidated Financial Results
VANCOUVER, British Columbia, Dec. 15, 2025 (GLOBE NEWSWIRE) -- EnWave Corporation (TSX-V:ENW | ...
About this update from Enwave Corporation
[{"type":"text","content":"EnWave Reports 2025 Fourth Quarter and Annual 2025 Consolidated Financial Results\n\n\n\n VANCOUVER, British Columbia, Dec. 15, 2025 (GLOBE NEWSWIRE) --\n \n EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the \"Company\")\n \n today reported the Company’s consolidated interim financial results for the fourth quarter and fiscal year ended September 30, 2025.\n \n\n\n All values in thousands and denoted in CAD unless otherwise stated.\n \n\n\n\n Reported revenue for Q4 2025 of $6,219, an increase of $2,585 relative to the comparable period in the prior year. During the period, the company commissioned one large-scale and six small-scale machines, sold a refurbished 120kW machine, and continued the fabrication of two large-scale machines on contract.\n \n\n Reported Adjusted EBITDA\n \n (1)\n \n income for Q4 2025 of $1,407, an increase of $957 from the comparable period in the prior year, with the increase driven by machine sales and the production sales mix relative to the comparative period.\n \n\n Reported royalties, excluding exclusivity payments (“Base Royalties”), for Q4 2025 of $481, an increase of $113, or 31% relative to the comparable period in the prior year. Reported total royalty revenue for Q4 2025 of $481, a decrease of $161 or 25% relative to total royalty revenue in the comparable period in the prior year. The decrease was related to an existing royalty partner that committed to multiple large-scale machines during the fiscal year, deciding not to continue with exclusivity in an unspecified Central American Country. This partner redeployed capital to a different strategic area to house the recently acquired large-scale machines. The decrease was offset by an increase in Base Royalties due to the expansion of both product sales and REV™ machine capacity utilization.\n \n\n Gross margin for the three months ending Q4 2025 was 41% compared to 40% for the three months ending Q4 2024. The increase in margin was primarily a result of the production mix of large and small machines at various stages of fabrication.\n \n\n Reported an increase in Selling, General & Administrative (“SG&A”) costs, including Research & Development (“R&D”) of $223 for Q4 2025 relative to the comparable period in the prior year, with the increase prima...