Thermal Energy Achieves Record Revenue and Improved Profitability in Second Quarter

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[{"type":"text","content":"Quarterly adjusted EBITDA more than tripled year-over-year","length":58,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Ottawa, Ontario--(Newsfile Corp. - January 27, 2026) - Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) ("Thermal Energy" or the "Company"), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, today reported its financial results for the second quarter ended November 30, 2025. All figures are in Canadian dollars.","length":427,"tagName":"p"},{"type":"text","content":"Q2 2026 Highlights: (Compared to Q2 2025)","length":42,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue increased more than 18% to a record $10.2 million","length":57,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted EBITDAi increased 202% to $814 thousand","length":53,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net income increased 2,133% to $618 thousand","length":44,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Cash position of $2.0 million and working capital of $3.4 million at quarter end","length":80,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Repaid $130 thousand on bank term loan; balance negligible as at January 26, 2026","length":81,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Order backlogii at quarter end increased 16% to $15.0 million","length":66,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Order backlog as at January 26, 2026, was $21.5 million","length":55,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":436,"olType":false},{"type":"text","content":"Overview","length":8,"tagName":"p"},{"type":"text","content":""This was an excellent quarter, marked by all-time high revenue and gross profit, as well as a threefold increase in adjusted EBITDA," said William Crossland, Thermal Energy CEO. "The big story was the dedication and execution of our engineers, who delivered sooner than expected on some of our turnkey projects to achieve record quarterly heat recovery revenue and record quarterly revenue overall.","length":414,"tagName":"p"},{"type":"text","content":""Meanwhile, our orde...

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