Financial Data and Key Metrics Changes - Revenue for Q2 2022 was $9.6 million, a slight increase from $9.5 million in Q1 2022 and a significant rise from $6 million in Q2 2021, driven by economic recovery and higher oil prices [16] - Gross profit was $4.4 million, down from $4.6 million in Q1 2022 but up from $3.3 million in Q2 2021, with a gross margin of 45.7% compared to 47.9% in Q1 2022 [17] - Net income for Q2 2022 was approximately $284,000, or $0.01 per diluted share, compared to $627,000 in Q1 2022 and a net loss of $397,000 in Q2 2021 [19] - Cash flow from operations was positive at $1.8 million, a significant improvement from a negative $265,000 in the prior year quarter [20] Business Line Data and Key Metrics Changes - The company achieved five consecutive quarters of revenue growth, with Q2 results primarily impacted by supply chain constraints rather than a decrease in customer demand [23] - The backlog of business has grown to historic levels, indicating strong future revenue potential despite ongoing supply chain challenges [24] Market Data and Key Metrics Changes - The WTI price per barrel averaged $108 in Q2 2022, a 14% increase from the previous quarter and a 64% increase from Q2 2021 [27] - The combined onshore rig count for the U.S. and Canada averaged 810, down 1% from the previous quarter but up 59% compared to Q2 2021 [28] Company Strategy and Development Direction - The company is focused on strategic diversification initiatives, gaining traction in large midstream plants and alternative industries, with expectations to more than double 2021 revenue in this growth segment [32][39] - Continued investment in R&D is emphasized to support both current and future customer needs, including solutions for efficiency and emissions reduction [34][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position to continue success into the second half of 2022, supported by a strong opportunity pipeline and improving inventory levels [31] - The company anticipates that commodity prices will remain high due to ongoing global supply challenges, which should benefit its business [15] Other Important Information - The company repurchased 451,000 shares for approximately $611,000, completing a $2 million repurchase authorization [20][21] - Inventory at the end of Q2 2022 was approximately $9.3 million, up from $7.7 million at the end of Q1 2022, reflecting ongoing supply chain disruptions [22] Q&A Session Summary Question: Non-oil and gas business momentum - Management indicated that the non-oil and gas business is moving towards regular deployment with increasing repeat business and word-of-mouth traction [48][49] Question: Demand environment in traditional oil and gas business - Management characterized the demand environment as steady, with a growing backlog and positive indicators for the second half of the year despite some supply chain challenges [52][54] Question: Carbon capture product details - The product focuses on capturing and reporting emissions data rather than traditional carbon capture, aiming to provide accurate emissions reporting for customers [59][60] Question: Inflation and cost pressures - Management acknowledged ongoing inflationary pressures on labor and materials, with expectations that gross margins may not improve significantly in the near term [73][75] Question: Inventory levels and trajectory - Management noted improvements in inventory levels, with expectations that inventory will not significantly increase due to a large backlog of orders [76][79]

FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ________ to _________ Commission File Number 001-36378 PROFIRE ENERGY, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 (State or other jurisdiction of incorporatio ...

Financial Data and Key Metrics Changes - Revenue for Q1 2022 was $9.5 million, representing a 15% increase from Q4 2021 and an 87% increase year-over-year [13] - Gross profit increased to $4.6 million, with a gross margin of 47.9%, up from 41.6% in Q4 2021 [14] - Net income for Q1 was approximately $627,000, or $0.01 per diluted share, compared to a net loss of $145,000 in Q4 2021 [16] - Cash flow from operations was negative $1.2 million, down from positive $1.8 million in the prior year quarter [17] Business Line Data and Key Metrics Changes - The traditional upstream and midstream business streams benefited from a 16% increase in the average onshore rig count in the U.S. and Canada [22] - The average WTI price per barrel in Q1 was $95.81, a 23% increase from the previous quarter [23] - The company expects to double last year's revenue related to the growth segment in fiscal year 2022, tracking with a run rate approaching $1.5 million [27] Market Data and Key Metrics Changes - Oil demand increased significantly due to the removal of COVID-related restrictions and geopolitical factors, leading to oil and natural gas prices reaching 14-year highs [10] - The U.S. drilled but uncompleted well count decreased to 4,273 at the end of the quarter, representing a 52% drop from its peak in June 2020 [23] Company Strategy and Development Direction - The company is focused on returning to profitability while investing in future growth and scaling operations as market demand improves [21] - Profire is diversifying into alternative industries, generating revenue from projects in biogas, power generation, mining, and landfills [27] - The company is developing a solution for real-time carbon emissions data collection, with early product trials showing promising results [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong order activity and the essential nature of North American oil and gas production [66] - Challenges remain due to supply chain issues and underinvestment in the industry, but the company is adapting well [68] - Management anticipates ongoing challenges throughout the fiscal year but believes they are well-positioned to navigate these issues [31] Other Important Information - The company repurchased 510,000 shares for approximately $622,000 during the quarter, with $632,000 remaining for additional repurchases [18] - Inventory at the end of Q1 was approximately $7.7 million, up from $7.2 million at the end of 2021 [19] Q&A Session Summary Question: Can you elaborate on the carbon emissions initiative? - Management confirmed that they have installed a minimum viable product with four partners and are gathering feedback to improve the solution [45][46] Question: What is driving the growth in the 3,100 projects? - The growth is attributed to building a stable customer base and brand awareness, with half of the business being repeat customers [56][58] Question: How do you see the demand environment with high oil prices? - Management is optimistic about continued demand, despite supply chain challenges, and believes that North American oil and gas production is essential [66][68] Question: Can you comment on the pace of revenue for the next year? - Management acknowledged challenges in the supply chain but believes they are well-prepared for future growth [75][80] Question: What is the status of the DUC inventories? - Management estimates that around 50% of drilled but uncompleted wells may never be completed, indicating a need for increased investment in the industry [85][90] Question: How are operating expenses expected to change? - Management does not anticipate significant changes in operating expenses but acknowledges ongoing inflationary pressures [92][93]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ________ to _________ Commission File Number 001-36378 Nevada 20-0019425 (801) 796-5127 (Registrant's telephone number, including area code) Indicate by check mark whether th ...

Profire Energy, Inc. (NASDAQ:PFIE) Q4 2021 Earnings Conference Call March 9, 2022 8:30 AM ET Company Participants Steven Hooser – Investor Relations at Three Part Advisors Ryan Oviatt – Co-Chief Executive Officer and Chief Financial Officer Cameron Tidball – Co-Chief Executive Officer Conference Call Participants Rob Brown – Lake Street Capital Markets Jim McIlree – Dawson James John White – ROTH Capital Partners John Bair – Ascend Wealth Advisors Arieh Coll – Coll Capital James Jang – Univest Operator Good ...

U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended __December 31, 2021___ OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period Commission File Number 001-36378 PROFIRE ENERGY, INC. (Name of registrant as specified in its charter) Nevada 20-0019425 (State or other jurisdiction of incorporation or organization) ...

Financial Data and Key Metrics Changes - In Q3 2021, the company recognized $6.9 million in revenue, a 15% increase from Q2 and a 74% increase year-over-year compared to Q3 2020 [15] - Gross profit for the quarter was $3.1 million, with a gross margin of 44.9%, reflecting a 90-basis-point improvement from the prior quarter and an increase from 38% in Q3 2020 [16] - Net income for Q3 was approximately $92,000, compared to a net loss of $397,000 in the prior quarter and a net loss of $1.1 million in Q3 2020 [18] Business Line Data and Key Metrics Changes - Product revenues increased by 79% year-over-year, driven by improving customer demand as the industry recovers from the pandemic [15] - The service segment reported a 34% increase year-over-year as customers returned to maintenance programs that were deferred previously [15] Market Data and Key Metrics Changes - The average price for a barrel of crude oil increased by 73% year-over-year, currently trading at or near a seven-year high [9] - Natural gas prices are also at seven-year highs, with expectations for higher commodity prices to continue at least through the upcoming winter [9] Company Strategy and Development Direction - The company remains focused on preserving its core business in the upstream and midstream oil and gas sector while expanding into new industries and markets [20] - The 3100 platform is being utilized in various industries, including mining, biogas, construction, and renewables, indicating a strategic push beyond oil and gas [21] - The company is investing in research and development to support the transition towards automation and to reduce greenhouse gas emissions [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about ongoing economic recovery and increased demand for hydrocarbon-based products despite potential changes in COVID policies [8] - The company anticipates continued improvement in Q4, although there is uncertainty due to seasonal factors affecting customer spending [31] Other Important Information - The company is assessing multiple merger and acquisition opportunities while maintaining a calculated approach to protect its culture and financial position [26] - The company is actively working with vendors to ensure product sourcing for medium to long-term needs [19] Q&A Session Summary Question: Trends into the quarter and visibility - Management noted improvements in activity and quoting, with optimism for Q4 performance despite seasonal uncertainties [31][32] Question: Revenue split between E&P and other business - Management indicated that upstream and midstream still represent the majority of business, but there is growing traction in projects outside of oil and gas [36][38] Question: Pricing trends and inventory comments - Management confirmed that price increases are being implemented due to inflation pressures, while inventory levels are being monitored closely [50][51] Question: Short-term and long-term inquiries about natural gas and crude - Management reported a balanced interest from both natural gas and crude producers, with natural gas being critical in certain regions [58][60] Question: Strategies for energy transition and potential acquisitions - Management emphasized the importance of being involved in energy transition discussions and is open to exploring acquisitions in related energy sectors [75][76]

PART I — FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) For the nine months ended September 30, 2021, Profire Energy reported increased revenues and significantly narrowed its net loss, while maintaining stable total assets and generating positive operating cash flow [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2021, total assets slightly increased to **$48.5 million**, total liabilities rose to **$3.5 million**, and total stockholders' equity slightly decreased to **$45.0 million** Condensed Consolidated Balance Sheet Highlights (as of) | Balance Sheet Item | September 30, 2021 (Unaudited) (USD) | December 31, 2020 (USD) | | :--- | :--- | :--- | | **Total Current Assets** | $24,932,294 | $25,835,775 | | **Total Assets** | $48,477,854 | $48,323,225 | | **Total Current Liabilities** | $2,938,515 | $2,415,300 | | **Total Liabilities** | $3,511,236 | $2,950,839 | | **Total Stockholders' Equity** | $44,966,618 | $45,372,386 | [Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20%28Loss%29%20%28Unaudited%29) For Q3 2021, revenues increased **73.6%** to **$6.9 million**, resulting in a net income of **$92,246**, while for the nine-month period, revenues grew **14.3%** to **$18.1 million**, and net loss narrowed to **$906,420** Q3 2021 vs Q3 2020 Performance | Metric | Q3 2021 (USD) | Q3 2020 (USD) | | :--- | :--- | :--- | | **Total Revenues** | $6,943,198 | $4,000,106 | | **Gross Profit** | $3,119,468 | $1,520,423 | | **Loss from Operations** | ($318,289) | ($1,329,498) | | **Net Income (Loss)** | $92,246 | ($1,057,748) | | **Diluted EPS** | $0.00 | ($0.02) | Nine Months 2021 vs 2020 Performance | Metric | Nine Months 2021 (USD) | Nine Months 2020 (USD) | | :--- | :--- | :--- | | **Total Revenues** | $18,069,830 | $15,806,727 | | **Gross Profit** | $7,951,887 | $6,771,964 | | **Loss from Operations** | ($1,716,951) | ($3,072,011) | | **Net Loss** | ($906,420) | ($2,231,515) | | **Diluted EPS** | ($0.02) | ($0.05) | [Condensed Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity%20%28Unaudited%29) Stockholders' equity decreased from **$45.4 million** at year-end 2020 to **$45.0 million** as of September 30, 2021, primarily due to a net loss of **$906,420** - Total stockholders' equity decreased from **$45,372,386** on December 31, 2020, to **$44,966,618** on September 30, 2021[10](index=10&type=chunk) - The decrease in equity was driven by a net loss of **$906,420** for the first nine months of 2021[8](index=8&type=chunk)[10](index=10&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20%28Unaudited%29) For the nine months ended September 30, 2021, net cash provided by operating activities significantly improved to **$957,821**, while net cash used in investing and financing activities totaled **$918,981** and **$72,067** respectively, with cash and cash equivalents ending at **$9.1 million** Cash Flow Summary (Nine Months Ended September 30) | Cash Flow Activity | 2021 (USD) | 2020 (USD) | | :--- | :--- | :--- | | **Net Cash Provided by Operating Activities** | $957,821 | $122,677 | | **Net Cash Provided by (Used in) Investing Activities** | ($918,981) | $683,983 | | **Net Cash Used in Financing Activities** | ($72,067) | ($192,824) | | **Net Change in Cash** | ($18,896) | $560,689 | | **Cash at End of Period** | $9,129,416 | $7,919,545 | [Notes to the Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements%20%28Unaudited%29) The notes detail accounting policies, revenue growth across categories, segment profitability with the U.S. market returning to profitability in Q3 2021, and the initiation of a share repurchase program in October 2021 - The company provides burner-management products and solutions primarily for the oil and gas industry in the US and Canadian markets, with expansion efforts into other industries and international locations[18](index=18&type=chunk) Revenue by Category (Nine Months Ended September 30) | Category | 2021 (USD) | 2020 (USD) | | :--- | :--- | :--- | | Electronics | $6,196,529 | $5,708,436 | | Manufactured | $908,592 | $682,149 | | Re-Sell | $9,223,689 | $7,986,792 | | Service | $1,741,020 | $1,429,350 | | **Total Revenue** | **$18,069,830** | **$15,806,727** | Profit (Loss) by Geographic Segment (Nine Months Ended September 30) | Segment | 2021 (USD) | 2020 (USD) | | :--- | :--- | :--- | | Canada | ($1,383,553) | ($1,059,627) | | United States | $477,133 | ($1,171,888) | | **Total Consolidated** | **($906,420)** | **($2,231,515)** | - On September 15, 2021, the Board authorized a share repurchase program for up to **$2,000,000** of common stock through September 30, 2022, with purchases commencing in October 2021 under a 10b5-1 plan[30](index=30&type=chunk)[65](index=65&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=16&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20And%20Results%20of%20Operations) Management attributes the **74%** Q3 2021 revenue increase to improved oil and gas industry demand, with gross margin improving to **44.9%**, while maintaining a strong liquidity position of **$18.5 million** in cash and investments - The company is a technology provider focused on enhancing the efficiency, safety, and reliability of industrial combustion appliances, primarily in the oil and gas industry, with an increasing focus on ESG principles[72](index=72&type=chunk)[77](index=77&type=chunk) Comparison of Nine Months Ended September 30, 2021 and 2020 | Metric | 2021 (USD) | 2020 (USD) | $ Change (USD) | % Change | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | $18,069,830 | $15,806,727 | $2,263,103 | 14.3% | | **Gross Profit Percentage** | 44.0% | 42.8% | | 1.2% | | **Operating Expenses** | $9,668,838 | $9,843,975 | ($175,137) | (1.8)% | | **Loss from Operations** | ($1,716,951) | ($3,072,011) | $1,355,060 | (44.1)% | | **Net Loss** | ($906,420) | ($2,231,515) | $1,325,095 | (59.4)% | - Q3 2021 revenue increased by **74%** year-over-year, driven by improved customer demand, a **73%** increase in average oil prices, and a **121%** increase in the North American rig count compared to Q3 2020[83](index=83&type=chunk) - The company's liquidity remains strong, with working capital of **$22.0 million** and total cash and investments of **$18.5 million** as of September 30, 2021[91](index=91&type=chunk)[93](index=93&type=chunk) [Quantitative and Qualitative Disclosure about Market Risk](index=20&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosure%20about%20Market%20Risk) This section is not required for the current filing - This section is not required for the filing[95](index=95&type=chunk) [Controls and Procedures](index=20&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2021, with no material changes to internal control over financial reporting during the quarter - Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2021[96](index=96&type=chunk) - There were no material changes to the company's internal control over financial reporting during the third quarter of 2021[97](index=97&type=chunk) PART II — OTHER INFORMATION [Legal Proceedings](index=21&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no pending or threatened legal proceedings that would materially impact its operations - There are no legal proceedings pending or threatened against the company that may have a material impact[99](index=99&type=chunk) [Risk Factors](index=21&type=section&id=Item%201A.%20Risk%20Factors) Investors are directed to the Annual Report on Form 10-K for the year ended December 31, 2020, for a comprehensive understanding of the company's risk factors - The report refers to the risk factors discussed in the Annual Report on Form 10-K for the year ended December 31, 2020[100](index=100&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=21&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This item is not applicable to the company for the current reporting period - This item is not applicable[101](index=101&type=chunk) [Exhibits](index=22&type=section&id=Item%206.%20Exhibits) The report includes officer certifications pursuant to SEC rules and XBRL data files for financial reporting - Exhibits filed with the report include certifications from the Co-Principal Executive Officers and the Principal Financial Officer, as well as XBRL data files[106](index=106&type=chunk)

| --- | --- | --- | |-----------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | INVESTOR PRESENTATION | | | | NASDAQ : PFIE | | | | AUGUST 2021 | | | IMPORTANT CAUTIONS REGARDING FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. All statements other than historical facts are forward-looking statements, including without limitation, those regarding activities, events, fi ...

Profire Energy, Inc. (NASDAQ:PFIE) Q2 2021 Earnings Conference Call August 5, 2021 1:00 PM ET Company Participants Ryan Oviatt - Co-Chief Executive Officer & Chief Financial Officer Cameron Tidball - Co-Chief Executive Officer Conference Call Participants Rob Brown - Lake Street Capital Markets John White - ROTH Capital James Jang - Univest Securities Jim McIlree - Dawson James Samir Patel - Askeladden Capital John Bair - Ascend Wealth Advisors Operator Good afternoon, everyone, and thank you for participat ...