Core Insights - Next Hydrogen Solutions Inc. reported financial results for Q3 2025, showing significant progress and a profitable quarter driven by increased revenues from a development contract nearing completion [1][8] - The company announced a transformative financing expected to fully fund operations to cash flow positive while scaling its product line and launching a larger model [2][8] Financial Performance - Q3 2025 revenues were $2.3 million, with a net income of $0.1 million, compared to $0.1 million in revenues and a net loss of $3.9 million in Q3 2024 [8] - For the nine-month period ended September 30, 2025, revenues were $2.9 million and net loss was $5.8 million, compared to $1.2 million in revenues and a net loss of $11.2 million in the same period of the prior year [8] - Cash balance as of September 30, 2025, was $0.9 million, down from $3.6 million as of December 31, 2024 [8] Recent Developments - In November 2025, the company announced a non-brokered private placement of common shares at $0.45 per share, aiming for gross proceeds of $20–30 million to accelerate commercialization of its NH-150 electrolyzer and advance the NH-500 model [8] - The successful operation of a new electrolyzer for clean hydrogen fueling at Ontario's largest onsite clean hydrogen generation and fueling station was achieved in July 2025, capable of producing up to 650 kg of hydrogen per day [8] - A loan agreement for $0.5 million was established with existing directors and officers to support operations while evaluating long-term financial solutions [8] Company Overview - Next Hydrogen, founded in 2007, designs and manufactures electrolyzers that convert water and electricity into clean hydrogen, supported by 40 patents for high current density operations [6] - The company aims to scale its technology to provide commercial solutions for decarbonizing industrial and transportation sectors [6]