Anaergia Inc. has reported a net loss of CAD 9.49 million ($6.89 million) for the second quarter, improving 29 percent from a net loss of CAD 13.36 million for the same three-month period last year.
The Burlington, Canada-based provider of integrated waste-to-energy solutions saw a 36.8 percent surge in revenue to CAD 32.26 million for 2Q 2025 from CAD 23.59 million for 2Q 2024, according to figures published on the SEDAR+ database for companies publicly trading in Canada.
The Capital Sales segment accounted for the bulk of revenue for 2Q 2025 at CAD 23.21 million, up 51.8 percent from 2Q 2024. The Capital Sales segment offers packaged solutions and services to third-party customers including engineering services, proprietary product sales, engineering procurement and construction contracts.
The Operation Maintenance Services segment generated CAD 5.17 million in revenue, up 17.6 percent year-on-year.
The Build-Own-Operate segment contributed CAD 3.89 million to total revenue, down 0.6 percent year-on-year.
North America accounted for the bulk of total revenue at CAD 19.82 million, up 26 percent from 2Q 2024. It was followed by Italy at CAD 6.29 million, while the rest of the EMEA region contributed CAD 3.97 million. APAC logged CAD 2.18 million in revenue.
“Revenue increased primarily due to higher revenue from Capital Sales, most significantly in Italy and North America”, Anaergia said in a press release.
Revenue backlog rose to CAD 243.94 million driven by new contracts in Italy and North America. “This growing backlog, along with CAD 43.8 million in new contracts announced since the end of the second quarter, enhances our visibility and optimism for the future”, chief executive Assaf Onn commented.
Gross profit increased year-on-year to CAD 10.49 million from CAD 4.15 million with a 32.5 percent margin. “This is attributable to higher margins from all three segments”, the company said.
EBITDA improved 55 percent year-on-year to negative CAD 4.77 million from negative CAD 10.6 million.
Adjusted EBITDA landed at negative CAD 2.22 million for 2Q 2025, compared to negative CAD 7.98 million for 2Q 2024. “This positive variance reflects a substantial improvement in our results from operations which was driven by the increases in revenue and in gross profit”, Anaergia said.
It said, “The company’s shift to a capital-light strategy was the primary driver behind our strong quarterly results led by significantly higher revenue, higher gross profit margin and an increase in revenue backlog”.
“Anaergia is uniquely positioned to benefit from the growing demand for sustainable waste solutions, underpinned by a robust market, and regulatory and environmental tailwinds”, the company said.
Anaergia ended 2Q 2025 with CAD 99.35 million in current assets and CAD 109.38 million in current liabilities.
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