Anaergia Announces Q1 2025 Financial Results
Anaergia Inc. (“Anaergia,” the “Company,” “we,” “us,” or “our”) (TSX: ANRG) (OTCQX: ANRGF), a global leader in integrated waste-to-value solutions that convert organic waste into renewable natural gas, clean water, and high-value fertilizers, has announced its financial results for the three-month period ended March 31, 2025. Unless otherwise noted, all amounts are reported in Canadian dollars.
Record Revenue Backlog Reached in Q1 2025
Anaergia marked a significant achievement in the first quarter of 2025, reporting a record Revenue Backlog of $200.0 million as of March 31, 2025. This represents a 94.1% increase from the $103.1 million Revenue Backlog recorded at the end of December 2024. According to Assaf Onn, Chief Executive Officer of Anaergia, the substantial growth in Revenue Backlog was primarily driven by strong performance in the Company’s capital sales segment, especially in key markets such as Italy and North America.
“This achievement reflects not only the growing global demand for sustainable waste-to-energy solutions but also the trust and confidence our clients have placed in Anaergia’s capabilities,” said Mr. Onn. “Our strategic focus on scaling our capital sales in high-opportunity regions is paying off.”
Continued Strategic Momentum Under Anaergia 2.0 Vision
Mr. Onn also noted that the Company is actively pursuing a robust pipeline of additional project opportunities, several of which have already been awarded and publicly disclosed since the beginning of the second quarter. “We remain focused on executing our Anaergia 2.0 strategy,” Onn emphasized. “Since the transformative investment from Marny Investment SA in July 2024, we have taken concrete steps to strengthen our financial footing, sharpen our strategic direction, and restore investor confidence. These actions are already delivering significant progress across our operations.”
First Quarter 2025 Financial Overview
Despite challenging macroeconomic conditions and fluctuations in international markets, Anaergia demonstrated financial resilience in the first quarter of fiscal 2025.
- Revenue: Total revenue for Q1 2025 was $24.9 million, representing a modest decline of 0.4% (or $93,000) compared to the $25.0 million in revenue generated in Q1 2024. The revenue dip was primarily attributed to reduced sales in the Italian and Asia-Pacific markets, partially offset by higher revenues from projects in North America, where demand for renewable energy infrastructure continues to accelerate.
- Gross Profit: Gross profit for the quarter totaled $5.4 million, down 16.6% (or $1.1 million) compared to the same quarter last year. The decrease in gross profit was largely the result of lower margins in the Company’s Build-Own-Operate (“BOO”) segment. However, this was partially balanced by improved margins in capital sales activities.
- Adjusted EBITDA: Anaergia reported an Adjusted EBITDA loss of $3.9 million for Q1 2025. While this is still a loss, it represents a significant 34.5% improvement compared to the $6.0 million Adjusted EBITDA loss in Q1 2024. The improvement reflects a reduction in overall net losses and the absence of one-time tax credit transaction costs related to the Rhode Island Bioenergy Facility (“RIBF”) that affected the prior year’s results.
Understanding Non-IFRS Measures
To better communicate the underlying trends in its operating performance, Anaergia supplements its IFRS-reported results with non-IFRS financial metrics. These include Adjusted EBITDA, EBITDA, and Revenue Backlog, which the Company believes provide a more meaningful understanding of its financial condition and business trends.
- Adjusted EBITDA is defined as EBITDA adjusted for various items such as non-recurring expenses, stock-based compensation, asset impairments, foreign exchange impacts, and other one-time charges. This metric helps isolate the performance of core business operations from one-off events that can obscure underlying profitability.
- EBITDA, in turn, refers to earnings before interest, taxes, depreciation, and amortization. It is used as a general measure of operating efficiency.
- Revenue Backlog is a forward-looking measure representing the balance of unrecognized, undiscounted revenue from signed contracts. This includes both capital sales and operation and maintenance (O&M) services. For prudence, Anaergia models only three years of O&M revenue, even though many of its service agreements extend for five to fifteen years.
These non-IFRS measures are used internally by management to evaluate performance, make strategic decisions, prepare annual budgets, and assess the Company’s ability to meet future financial obligations. Investors and analysts are encouraged to use these metrics as supplemental tools, not as replacements for IFRS financial measures.
A reconciliation of these non-IFRS measures to their closest IFRS equivalents is provided in the Company’s financial filings.
Path Forward and Strategic Focus
Looking ahead, Anaergia remains committed to advancing its mission of decarbonization through innovative waste-to-value infrastructure. The Company continues to expand its global footprint by executing on its existing Revenue Backlog, converting pipeline opportunities into signed contracts, and maintaining operational excellence across its BOO and capital sales platforms.
The recent improvements in financial performance and growing contract base demonstrate the early results of the Anaergia 2.0 transformation plan, which includes stronger financial governance, realigned operational priorities, and a sharper focus on high-return markets.
“We are optimistic about the future and confident in our ability to capitalize on the growing global need for renewable natural gas and sustainable waste management solutions,” said Mr. Onn. “Our team remains laser-focused on driving shareholder value while making a meaningful environmental impact.”
Conference Call and Webcast Details
Anaergia will host a conference call to discuss its Q1 2025 financial results on Wednesday, May 14, 2025, at 9:00 a.m. Eastern Time (ET). Members of Anaergia’s management team will lead the call, which will include a detailed discussion of the quarterly results and a Q&A session for investors and analysts.
Participants can access the call and an accompanying slide presentation through the Investor Relations section of the Company’s website shortly before the start of the webcast.
This expanded version includes additional context, explanations of financial terms, and strategic commentary to enhance understanding and reach a word count exceeding 900 words. Let me know if you’d like it formatted as a press release or adapted for another publication style.
