Business
Thermal Energy Achieves Record Revenue of $29.8 Million in Fiscal 2025
Company reports results for fourth quarter and fiscal year 2025; record order intake for first quarter of fiscal 2026Ottawa, Ontario--(Newsfile Corp. - September 23, 2025) - 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 fourth quarter and year ended May 31, 2025. All figures are.
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Company reports results for fourth quarter and fiscal year 2025; record order intake for first quarter of fiscal 2026","length":117,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Ottawa, Ontario--(Newsfile Corp. - September 23, 2025) - 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 fourth quarter and year ended May 31, 2025. All figures are in Canadian dollars.","length":433,"tagName":"p"},{"type":"text","content":"Q4 2025 Highlights: (Compared to Q4 2024)","length":42,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue decreased 9.3% to $6.8 million.","length":39,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross profit increased by 17.3% to $3.7 million; gross margin improved to 53.9% for the quarter.","length":96,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income decreased 22.9% to $224 thousand.","length":44,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBITDAi decreased 6% to $397 thousand; Adjusted EBITDA margin improved to 5.8% for the quarter.","length":109,"tagName":"p"}]},{"val":[{"type":"text","content":"Repaid $1.1 million in long term debt (remaining balance of $0.3 million on May 31, 2025).","length":90,"tagName":"p"}]},{"val":[{"type":"text","content":"Order backlogii was $12.9 million as at May 31, 2025, growing to $24.3 million (the highest ever reported by Thermal Energy) by September 22, 2025.","length":152,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":530,"olType":false},{"type":"text","content":"Overview","length":8,"tagName":"p"},{"type":"text","content":""While our revenue was down in the fourth quarter, our quarterly gross profit and Adjusted EBITDA margins improved, and we still achieved our highest fiscal year revenue ever," said William Crossland, Thermal Energy CEO. "But the big story for us is that, after suppressed levels of order intake throughout fiscal 2025, our order intake in the first quarter of fiscal 2026 reached $11.3 million — which is the highest first quarter intake in our history and four times what ...