Thermal Energy International Inc. (TMG) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'm William Crossland, CEO of Thermal Energy International. Thank you for joining us this morning for our third quarter earnings call. Our news release, financial statements, and MD&A are available on our website and have been filed on CDAR. After my prepared remarks, we'll have a question and answer session, at which time qualified equity research analysts and institutional investors joining us on MS Teams will be able to ask some questions. If you're joining us online, you should be able to see our slide presentation on your screen now. Before we go any further, I have to point out that today's call may contain some forward-looking statements within the meaning of applicable security laws. Wait a minute. Okay, there we go. Forward-looking statements are subject to risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. For additional information, please refer to our financial statements and MD&A for the quarter, and our other filings with the Canadian Securities Regulators. In terms of an overview, I'm pleased to share that thermal energy delivered solid performance in the third quarter, highlighted by record Q3 revenue of $9.4 million and record trailing 12-month revenue of $33.3 million. We also saw signs of operational leverage with sharp improvements in adjusted EBITDA and net income, both in the quarter and over the past year. Our balance sheet remains very healthy with virtually no debt and strong cash and working capital positions. And our order intake for the quarter was up 26% with our trailing 12 months up 41% to an all-time high of $31.3 million....