EnWave Reports 2025 Fourth Quarter and Annual 2025 Consolidated Financial Results

Core Insights - EnWave Corporation reported significant financial growth in Q4 2025, with revenues increasing by 71% year-over-year to CAD 6,219,000, and a net income from continuing operations of CAD 928,000, marking a 58% increase compared to the previous year [1][2][4] Financial Performance - Q4 2025 revenues reached CAD 6,219,000, up from CAD 3,634,000 in Q4 2024, representing a 71% increase [2] - For the fiscal year ended September 30, 2025, total revenues were CAD 13,829,000, a 69% increase from CAD 8,181,000 in 2024 [2][10] - Direct costs for Q4 2025 were CAD 3,667,000, a 67% increase from CAD 2,192,000 in Q4 2024 [2] - Gross margin for Q4 2025 was 41%, slightly up from 40% in Q4 2024, driven by a favorable production mix [4][10] - Adjusted EBITDA for Q4 2025 was CAD 1,407,000, a 213% increase from CAD 450,000 in Q4 2024 [2][4] Royalty Revenue - Base Royalties for Q4 2025 were CAD 481,000, a 31% increase from CAD 368,000 in Q4 2024 [4] - Total royalty revenue for Q4 2025 was CAD 481,000, down 25% from CAD 642,000 in Q4 2024, due to a change in exclusivity agreements with a partner [4][10] Operating Expenses - SG&A expenses, including R&D, increased to CAD 5,585,000 for the year ended 2025, up from CAD 5,308,000 in 2024, primarily due to increased marketing and sales personnel costs [10] - Operating expenses for Q4 2025 included CAD 571,000 in general and administration, CAD 553,000 in sales and marketing, and CAD 389,000 in research and development [2] Corporate Developments - EnWave signed multiple equipment purchase agreements and commercial licenses in Q4 2025, expanding its partnerships and product offerings [10] - The company closed a private placement of 7,500,000 common shares at CAD 0.40 per share, raising gross proceeds of CAD 3,000,000 [10]