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BQE Water Reports Q2 2026 Results Vancouver , British Columbia -- ( Newsfile Corp. - August 27 , 2026 ) - BQE Water Inc. ( TSXV : BQE ) , a leader in the treatment and management of mine impacted waters , is pleased to release its interim consolidated financial results for the three and six months ended June 30 , 2026 . " Despite a $ 2 million reduction in revenue in Q2 2026 , our net income and Adjusted EBITDA were comparable to Q2 2025. In the second quarter , we remobilized our operations team back to the Minto Mine and initiated our new 3 - year operational services at the Nunavik Nickel Project in Quebec . In total , we have added five long - term operations and three short - term operations when compared to the prior year , " said David Kratochvil , President & CEO of BQE Water . " Growing water treatment operations remains a central component in our company's strategy . Our outlook for 2026 remains positive , as we anticipate the resumption of seasonal operations at the Kemess Mine and continuation of our long - term operations across ten sites in Canada , US , and China . " FINANCIAL HIGHLIGHTS • Revenues under GAAP of $ 9.2 million and Proportional Revenues of $ 11.3 million in Q2 2026 , compared to $ 11.3 million and $ 12.9 million in Q2 2025 . • Gross margin of $ 4.3 million in Q2 2026 compared to $ 3.7 million in Q2 2025 , a $ 557,000 or 15 % increase . • Net income of $ 1.8 million in Q2 2026 compared to net income of $ 1.9 million in Q2 2025 , a 3 % decrease . • Earnings per share ( basic ) of $ 1.42 in Q2 2026 compared to $ 1.48 in Q2 2025 . • Adjusted EBITDA of $ 2.4 million in Q2 2026 compared to $ 2.5 million in Q2 2025 , a 2 % decrease . • Working capital of $ 21.0 million at June 30 , 2026 , compared to $ 21.4 million at December 31 , 2025 , a 2 % decrease . Selected financial results for the three and six months ended June 30 , 2026 , are as follows : ( in ' 000s ) Revenue Operational services 3 months ended Jun . 30 2026 2025 6 months ended Jun . 30 2026 2025 3,063 1,147 5,045 3,109 Technical services - short - term operations Technical services- advisory and design 4,243 3,672 5,163 7,114 1,939 6,457 3,838 8,499 Total revenues under GAAP 9,245 11,276 14,046 18,722 Share of revenue from joint ventures in China 2,046 1,632 2,550 2,134 Proportional Revenues ( Non - GAAP measures ) 11,291 12,908 16,596 20,856 Net income 1,848 1,908 574 3,635 Adjusted EBITDA ( Non - GAAP measures ) 2,435 2,482 1,364 4,359 COMMENTARY AND OUTLOOK Overall , Q2 2026 was a very busy quarter . Our operations group continued to provide services at our existing sites and initiated operational services at five new sites in 2026 , including the Nunavik Nickel Project in Quebec , Britannia Mine in BC , a lead smelter treatment plant in Eastern Canada , a selenium removal plant in South Dakota , and the SART plant in China . These new sites contributed an additional $ 1.9 million in revenue from operational services for Q2 2026 when compared to Q2 2025 . We also mobilized short - term operations at three new sites in Q2 2026 , including Minto Mine , where we re - established our presence and aim to expand our partnership with the Selkirk First Nation while building a strong relationship with the new management overseeing this unique asset . Our projects