Earnings release
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Anaergia Anaergia Reports 98 % Revenue Growth , Fourth Consecutive Quarter of Positive Adjusted EBITDA , and Revenue Backlog Expansion to $ 274.9 Million in Q2 2026 Q2 2026 revenue nearly doubled year - over - year to $ 63.9 million , Adjusted EBITDA¹ remained positive for the fourth consecutive quarter , and Revenue Backlog¹ reached $ 274.9 million following new contract wins in Europe and North America BURLINGTON , ONTARIO August 10 , 2026 – Anaergia Inc. ( " Anaergia ” , the “ Company ” , “ we ” or “ our ” ) ( TSX : ANRG ) ( OTCQX : ANRGF ) , a leader in integrated waste - to - value solutions that convert organic waste into renewable natural gas ( " RNG " ) , fertilizer , and water , today reported financial results for the three - month period ended June 30 , 2026 ( " Q2 2026 " ) . The Company's second quarter results reflect continued execution of its strategic plan , with revenue nearly doubling year - over - year , sustained positive Adjusted EBITDA , and additional growth in contracted Revenue Backlog¹ . During the quarter , Anaergia continued converting Revenue Backlog¹ into revenue while securing new contract awards across Europe and North America , reinforcing the strength of its commercial platform and market positioning . Revenue increased 98.1 % year - over - year to $ 63.9 million , and Revenue Backlog¹ reached approximately $ 274.9 million at quarter end . All financial results are reported in Canadian dollars unless otherwise stated . Second Quarter 2026 Highlights • • • . • • Revenue increased 98.1 % year - over - year to $ 63.9 million , compared with $ 32.3 million in the three - month period ended June 30 , 2025 ( " Q2 2025 " ) Gross profit increased 38.2 % year - over - year to $ 14.5 million , compared with $ 10.5 million in Q2 2025 Adjusted EBITDA¹ improved to positive $ 1.9 million , compared with an Adjusted EBITDA¹ loss of $ 2.2 million in Q2 2025 Fourth consecutive quarter of positive Adjusted EBITDA¹ , demonstrating continued operating discipline and improved execution Revenue Backlog¹ increased to $ 274.9 million , up 3.8 % from March 31 , 2026 , and 7.2 % from December 31 , 2025 , providing strong visibility into future contracted revenue New contract awards totaling approximately $ 66 million were secured during the quarter across Europe and North America Net loss improved to $ 2.1 million , compared with a net loss of $ 9.5 million in Q2 2025 Management Commentary " Our second quarter results demonstrate the continued strengthening of Anaergia's financial and commercial profile . Revenue nearly doubled year - over - year , Adjusted EBITDA¹ remained positive for the fourth consecutive quarter , and our Revenue Backlog¹ expanded to approximately $ 275 million . These results reflect disciplined execution , improved conversion of Revenue Backlog¹ into revenue , and growing demand for Anaergia's integrated waste - to - value solutions across key markets , ” said Assaf Onn , Chief Executive Officer of Anaergia .
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“During the quarter, we secured approximately $66 million of new contracts in Europe and North America, further validating the relevance of our technology portfolio, engineering expertise, and project delivery capabilities. Looking ahead, we remain focused on operational discipline, balance sheet strength, and execution excellence while pursuing growth opportunities in the rapidly expanding renewable natural gas and resource recovery markets. We believe our Revenue Backlog1, global pipeline, and differentiated market position provide a strong foundation for continued long-term value creation,” added Mr. Onn. Strengthening Financial Performance and Commercial Momentum Anaergia’s Q2 2026 performance reflects continued progress in scaling revenue, improving profitability metrics, and enhancing earnings quality. The quarter benefited from increased capital project execution in Europe and North America as the Company advanced previously awarded projects and converted contractual Revenue Backlog1 into recognized revenue. At the same time, new contract wins more than offset project execution activity, supporting continued growth in Revenue Backlog. The Company’s results highlight the increasing leverage inherent in Anaergia’s business model as revenue growth, Revenue Backlog1 expansion, and operating discipline continue to support improving financial performance. While maintaining a focus on profitable growth, management remains committed to expanding its position as a provider of integrated end-to-end solutions across organic waste processing, anaerobic digestion, biomethane production, wastewater treatment, and resource recovery. Second Quarter 2026 Financial Results Revenue for Q2 2026 was $63.9 million, an increase of 98.1% compared with $32.3 million during Q2 2025. The increase was primarily driven by higher capital sales project execution activity in Italy, other European countries, and North America. Gross profit for Q2 2026 was $14.5 million, compared with $10.5 million in Q2 2025, mainly driven by increased gross profit in the Capital Sales segment. Adjusted EBITDA improved to positive $1.9 million in Q2 2026, compared with an Adjusted EBITDA loss of $2.2 million in the prior-year period. Net loss improved to $2.1 million during Q2 2026, compared with a net loss of $9.5 million in Q2 2025. Income from operations improved to a loss of $0.8 million, compared with a loss of $4.1 million in the prior-year quarter. For the six months ended June 30, 2026, revenue increased 109% year-over-year to $119.1 million, gross profit increased 71% to $27.2 million, and Adjusted EBITDA improved to positive $3.0 million, compared with an Adjusted EBITDA loss of $6.2 million in the prior-year period. Net loss improved to $6.5 million compared with $15.4 million during the first six months of 2025. Three months ended: 30-Jun-26 30-Jun-25 % Change (In millions of Canadian dollars, except %) Revenue 63.9 32.3 98% Gross profit 14.5 10.5 38%
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Gross profit % 22.7% 32.5% Income (loss) from operations (0.8) (4.1) 80% Net loss (2.1) (9.5) 76% Adjusted EBITDA1 1.9 (2.2) 186% Six months ended: 30-Jun-26 30-Jun-25 % Change (In millions of Canadian dollars, except %) Revenue 119.1 57.1 109% Gross profit 27.2 15.9 71% Gross profit % 22.8% 27.8% Income (loss) from operations (2.3) (9.8) 77% Net loss (6.5) (15.4) 58% Adjusted EBITDA1 3.0 (6.2) 148% Statement of Financial Position 30-Jun-26 31-Dec-25 (In millions of Canadian dollars) Total Assets 260.9 237.9 Total Liabilities 205.1 182.4 Equity 55.8 55.5 1 “EBITDA,” “Adjusted EBITDA” and “Revenue Backlog” are non-GAAP measures. See “Non-GAAP Measures.” For a more detailed discussion of Anaergia’s results for Q2 2026, please see the Company’s financial statements for Q2 2026 and related MD&A, which are available at https://www.anaergia.com/investor-relations and on the Company’s SEDAR+ page at www.sedarplus.ca. Non-GAAP Measures This press release makes reference to certain non-GAAP measures. These non-GAAP measures are not recognized measures under IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IASB”) (“IFRS Accounting Standards”) and do not have a standardized meaning prescribed by IFRS Accounting Standards and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these non-GAAP measures are provided as additional information to complement IFRS Accounting Standards measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these non-GAAP measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS Accounting Standards. We use non-GAAP measures, including “Adjusted EBITDA”, “EBITDA”, and “Revenue Backlog” to provide investors with supplemental measures. Management also uses non-GAAP measures internally in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess our ability to meet our future debt service, capital expenditure and working capital
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requirements. Management believes these non-GAAP measures are important supplemental measures of operating performance because they eliminate items that have less bearing on operating performance and highlight trends in the core business that may not otherwise be apparent when relying solely on IFRS Accounting Standards financial measures. Management believes such measures are useful as they allow for assessment of our operating performance and financial condition on a basis that is more consistent and comparable between reporting periods. We also believe that securities analysts, investors and other interested parties frequently use non-GAAP measures in the evaluation of issuers. Definitions of non-GAAP measures and industry metrics used in this press release are provided below. “Adjusted EBITDA” is defined as net income or loss before interest expenses, taxes and depreciation and amortization adjusted for our normalized proportionate interest in our Build-Own-Operate assets and one-time or non-recurring items, stock-based compensation expense, asset impairment charges and write downs, losses related to equity-accounted investees, significant one-time provisions, foreign exchange gains or losses, restructuring and severance costs, Enterprise Resource Planning customization and configuration costs, litigation and other claims settlements, gains and losses resulting from changes in certain balance sheet valuations (such as derivatives and warrants) and acquisition costs. “EBITDA” is defined as net income or loss before interest expenses, taxes and depreciation and amortization. “Revenue Backlog” is defined as the balance of unrecognized, undiscounted, consolidated revenues from signed contracts in our Capital Sales and operation and maintenance services (“O&M Services”) segments. For our Capital Sales contracts, we have modeled only projects that have been contracted. For our O&M Services segment, while most of our in-hand contracts are 5-15 years in tenure, we have conservatively modeled for only 3 years of contracted revenue. See “Reconciliation of Non-GAAP Measures” below for a reconciliation of EBITDA and Adjusted EBITDA to their most directly comparable measures calculated in accordance with GAAP. Conference Call and Webcast Details A conference call to review the Company’s financial results will take place at 8:30 a.m. (EDT) on Tuesday, August 11, 2026. It will be hosted by management of Anaergia. An accompanying slide presentation will be posted to the Investor Relations section of the Company’s website shortly before the call. To listen to the webcast live: https://events.q4inc.com/attendee/338142445 The webcast will be archived and available in the Investor Relations section of our website following the call. About Anaergia Anaergia is a global technology and project delivery company focused on converting organic waste into renewable natural gas, fertilizer, and clean water. Through its proprietary technologies, engineering expertise, and integrated portfolio of solutions, Anaergia helps municipalities, utilities, industrial customers, and project owners reduce waste management costs, recover valuable resources, and lower greenhouse gas emissions. The Company offers comprehensive end-to-end capabilities spanning solid waste processing, wastewater treatment, organics recovery, anaerobic digestion, biomethane production, facility construction, and long-term operations. For further information please see: www.anaergia.com Forward-Looking Statements
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This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may relate to future plans, expectations and intentions, results, levels of activity, performance, goals or achievements, other future events or developments and may include, without limitation, information regarding our financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, plans and objectives. Particularly, information regarding our future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “estimate”, “believes”, “likely”, “potential”, “continue”, or “future” or the negative or other variations of these words or other comparable words or phrases. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking statements in this press release include, among other things, statements relating to financial condition and results of operations; the Company’s strategy and execution of its strategy; the Company’s business model, including our focus on revenue growth and operating discipline, and its impact on our financial performance; the Company’s capabilities to deliver integrated end-to-end solutions across organic waste processing, anaerobic digestion, biomethane production, wastewater treatment, and resource recovery; and statements regarding the Company’s Revenue Backlog and potential future sales. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that we considered appropriate and reasonable as of the date such statements were made. It is also subject to known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk factors described in the Company’s annual information form and management’s discussion and analysis for the year ended December 31, 2025. Certain assumptions in respect of our ability to execute on our expansion plans; our ability to obtain or maintain existing financing on acceptable terms; and our ability to realize the anticipated benefits of such are material factors underlying forward looking information and management’s expectations. The purpose of the forward-looking statements in this press release is to provide the reader with a description of management’s current expectations regarding the Company’s financial performance and may not be appropriate for other purposes. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only to opinions, estimates and assumptions as of the date made. Furthermore, unless otherwise stated, the forward-looking statements contained in this press release are made as of the date of this press release, and we have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Reconciliation of Non-GAAP Measures Three months ended: 30-Jun-26 30-Jun-25 (In thousands of Canadian dollars) Net loss (2,084) (9,488) Finance costs, net 1,350 1,266 Depreciation and amortization 2,018 1,394 Income tax expense (recovery) 546 2,058
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EBITDA1 1,830 (4,770) Share-based compensation expense 749 515 Other (gains) losses, net (375) 402 Foreign exchange loss (281) 1,629 Adjusted EBITDA1 1,923 (2,224) Six months ended: 30-Jun-26 30-Jun-25 (In thousands of Canadian dollars) Net loss (6,451) (15,385) Finance costs, net 2,525 2,282 Depreciation and amortization 3,991 2,874 Income tax expense (recovery) 1,981 172 EBITDA1 2,046 (10,057) Share-based compensation expense 1,325 765 Other (gains) losses, net (403) 1,211 Foreign exchange loss 21 1,917 Adjusted EBITDA1 2,989 (6,164) 1 “EBITDA,” “Adjusted EBITDA” and “Revenue Backlog” are non-GAAP measures. See “Non-GAAP Measures.” For media and/or investor relations please contact: IR@Anaergia.com