EnWave Reports 2025 Second Quarter Consolidated Interim Financial Results

Core Insights - EnWave Corporation reported significant financial growth in Q2 2025, with revenues reaching CAD 3,689,000, a 456% increase compared to CAD 663,000 in Q2 2024, primarily driven by a large-scale machine sale and the commissioning of two small-scale machines [2][4] - The company achieved a gross margin of 33% in Q2 2025, a substantial improvement from a negative margin of (25)% in Q2 2024, attributed to higher machine sales and royalty revenues [4] - EnWave's Adjusted EBITDA for Q2 2025 was CAD 112,000, marking a significant recovery from a loss of CAD 1,268,000 in the same period last year [4][9] Financial Performance Summary - For the six months ended March 31, 2025, EnWave reported total revenues of CAD 4,866,000, up 153% from CAD 1,925,000 in the prior year, mainly due to increased machine sales [2][8] - Royalty revenues for the same period were CAD 1,033,000, reflecting a 16% increase from CAD 894,000, driven by more royalty partners and product sales [8] - The company recorded a net loss from continuous operations of CAD 362,000 in Q2 2025, a 77% improvement from a loss of CAD 1,559,000 in Q2 2024 [2][9] Corporate Developments - EnWave signed multiple agreements in Q2 2025, including a Technology Evaluation and License Option Agreement with Solve Solutions LTDA in Brazil and a License Agreement Amendment with BranchOut Food Inc. for exclusive rights to produce dried blueberry products in Peru [6] - The company appointed its first international Business Development Manager based in the Netherlands to enhance its presence in the European market [6] - EnWave repurchased two REV™ machines from a U.S.-based cannabis company, which is expected to strengthen inventory levels and expedite future sales [6]