SHARC Energy Announces Q2 2025 Financial Results
VANCOUVER, British Columbia, Aug. 29, 2025 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE: IWIA) (OTCQB:INTWF) ("SHARC Energy" or the "Company") is pleased to announce it has filed financial results for the three and six months ended June 30, 2025. All figures are in Canadian Dollars and in accordance with IFRS unless otherwise stated.
Second Quarter and Year to Date (YTD) Financial Highlights:
Revenue for the six months ended June 30, 2025 ("YTD 2025") is $1.86 million (M), representing 86% of the full year revenue in 2024 and a 19% increase over the $1.56M of revenue reported in the six months ended June 30, 2024 ("YTD 2024"). Revenue increased 9% to $0.85M for the three months ended June 30, 2025 ("Q2 2025") compared to $0.78M reported for the three months ended June 30, 2024 ("Q2 2024").
As of August 29, 2025, the Company has a Sales Pipeline¹ of 16.6M and Sales Order Backlog² of $3.7M. This represents a ~$0.2M increase or 3% growth in Sales Order Backlog since May 30, 2025 disclosure. Sales Pipeline saw a nominal increase since May 30, 2025 disclosure reflecting the deliberate efforts by the Company to refill the pipeline once projects convert to the order book. The combined pipeline showed an aggregate growth of 1% or $0.2M from the previous disclosure on May 30, 2025. The $3.7M Sales Order Backlog, which is estimated to be converted to revenue within an average of 12 months from disclosure, represents a 71% improvement compared to the year ended December 31, 2024 revenue of $2.17M. The Company continues to observe the maturity of its Sales Pipeline leading to improved revenue consistency and reduced volatility, providing a strong platform to scale and grow.
During Q2 2025, the Company reported a loss of $0.82M and an Adjusted EBITDA³ loss of $0.46M. This compares to a loss of $0.71M and an Adjusted EBITDA loss of $0.49M in the comparative quarter representing a 15% increase and 7% decrease, respectively.
During YTD 2025, the Company reported a loss of $1.7M and an Adjusted EBITDA loss of $1.07M. This contrasts to a loss of $1.48M and an Adjusted EBITDA loss of $1.03M in the comparative period representing a 17% and 4% increase, respectively.
Gross margins for Q2 2025 and YTD 2025 were 44% and 37%, respectively, demonstrating the Company's resilience despite variances from the impressive 41% and 39% reported in Q2 2024 and YTD 2024, respectively. Management remains optimistic that this margin range aligns with our expectations for the coming quarters but the margin percentage varies dependent on sales mix and stage of completion of each project.
Michael Albertson, Chief Executive Officer and President of SHARC Energy, said, "We are continuing our strong start to the 2025 fiscal year with the Company reporting revenue of $0.85M and $1.86M for Q2 2025 and YTD 2025, respectively, representing a 19% and 9% increase over Q2 2024 and YTD 2024, respectively. Additionally, our YTD 2025 revenue represents 86% of the full year revenue earned in 2024. More importantly, despite the delivery of revenue growth over comparative periods, Sales Order Backlog increased by 3% ...
