Anaergia Revenue Rises 30.3% to C$66.9 Million in Third Quarter
Key Facts
Anaergia revenue rose 30.3% to C$66.9 million in the third quarter of 2026, compared with C$51.4 million in the same period of 2025, according to a company statement published via Business Wire. The company said the increase was driven mainly by higher activity executing capital sales projects in Italy and other countries in Europe, the Middle East and Africa, and North America. During the quarter, the company recorded about C$86 million in new contracts, exceeding the revenue it recognized during the period. Revenue backlog stood at C$303.1 million at quarter-end, up 10.3% from June 30, 2026, and 18.2% from Dec. 31, 2025. These figures show growth in execution and contracted backlog alongside higher quarterly revenue.
Net income was C$19.5 million in the third quarter, compared with a net loss of C$0.5 million in the corresponding period of 2025. The quarter's net income included a C$21.9 million gain from the sale of the Charlotte assets and the company's stake in the Rhode Island facility. Anaergia said the improvement in net income was mainly related to higher revenue and gross profit, as well as the gain on asset sales. Net income therefore reflected a contribution from the transaction alongside the quarter's business performance. Gross profit was C$16.4 million, up 11.0% from C$14.8 million a year earlier, with the company attributing the increase mainly to the capital sales segment.
On an adjusted operating measure, Anaergia reported adjusted earnings before interest, taxes, depreciation and amortization of C$3.1 million, compared with C$2.6 million in the third quarter of 2025. The company said these earnings remained positive for the fifth consecutive quarter. The measure offers a separate view from net income, which was affected by the asset-sale gain during the quarter. The company linked revenue growth to increased execution of capital sales projects in Italy and other regions of Europe, the Middle East and Africa, and North America. Gross profit growth also coincided with the expansion in revenue and new contracts during the period.
On debt, Anaergia said the sale of the Charlotte bioenergy facility and its stake in the Rhode Island facility reduced project debt by US$20 million. It said the Charlotte facility was not operating, while the Rhode Island facility was operating below expected utilization. The transaction was also associated with a C$21.9 million gain included in the quarter's results. The divestiture therefore combined a reduction in project debt with an accounting gain that contributed to net income. Meanwhile, adjusted earnings before interest, taxes, depreciation and amortization remained positive for the fifth consecutive quarter.
Anaergia management is scheduled to discuss the results on a call and webcast on Nov. 12, 2026, at 9:30 a.m. Eastern Time. The call follows the company's announcement of quarterly revenue growth, an increase in new contracts and revenue backlog, as well as a gain on asset sales. Adjusted operating results and net income are among the key measures in the statement that management can discuss. The statement also showed that new contracts during the quarter exceeded revenue recognized in the period. The scheduled call will give the company an opportunity to review the announced results with investors.