Core Insights - Clear Blue Technologies is showcasing significant progress in its Clear Blue 2.0 initiative, focusing on revenue growth, achieving positive Adjusted EBITDA, and cash generation as it enters 2026 [2][7]. Financial Performance - Preliminary Q3 2025 revenues were approximately $953,972, representing a 158% increase compared to the same period last year, while revenues for the nine months ended were $3,139,229, a 43% increase [13]. - Adjusted EBITDA for Q3 2025 was approximately ($332,264), showing a 54% improvement year-over-year, and year-to-date Adjusted EBITDA was approximately ($944,159), reflecting a 47% improvement [13]. - The net loss for Q3 2025 was approximately $789,437, a 50% improvement compared to the same quarter last year, and year-to-date net loss was approximately $1,174,335, representing a 71% improvement [13]. - Operating expenses for Q3 2025 were approximately $861,614, a reduction of 36% year-over-year, and year-to-date operating expenses were $2,809,421, a 26% reduction [13]. Order Bookings and Revenue Composition - As of November 18, 2025, order bookings totaled $5,734,699, a 161% increase compared to $2,196,669 for the entire 2024 calendar year [6][13]. - Recurring Energy-as-a-Service fees accounted for $1.2 million of the bookings, indicating a shift towards more stable, contracted revenues [6]. - The average recurring revenue component increased from 6% of new orders in 2024 to 20% in 2025, enhancing long-term growth potential [13]. Strategic Developments - Clear Blue has reduced debt levels and operating costs while building sales traction, creating a foundation for future growth [3][7]. - The company has entered full commercialization of its four product lines (Pico, Nano, Micro, Lighting) as R&D spending decreases [4]. - Key partnerships with organizations such as Eutelsat Group and Cooper Lighting are expected to drive market traction and order volume [5][8]. Future Outlook - The company anticipates that 2026 will present opportunities to leverage a growing sales pipeline and improve financial performance, supported by restructuring efforts and favorable market conditions [7][8]. - The Canadian government's proposed budget includes an enhanced SR&ED tax credit rate of 35%, which could provide significant cash flow to Clear Blue in 2026 [8].

Core Insights - Clear Blue Technologies has received a CA$1.5 million repeat order from iSat Africa for its Micro product, aimed at expanding telecom infrastructure in several African countries [1][2] - The order is expected to ship over the next two quarters, with potential for additional contracts in 2026 and beyond [2] - Clear Blue is integral to iSat's new Energy-as-a-Service offering, enhancing telecom growth across Africa [2][3] Company Overview - Clear Blue Technologies specializes in Smart Off-Grid™ power solutions for critical infrastructure, including telecommunications and IoT [4] - The company's technology focuses on cost savings, predictive maintenance, and reliable power in remote environments [4] Industry Context - Sub-Saharan Africa has a mobile penetration rate of approximately 27% in 2023, significantly below the global average of 69%, indicating a substantial market opportunity [3] - The region's population is rapidly growing, with over 60% under the age of 25, driving demand for internet and cellular services [3] - The shift from diesel generators to solar-powered telecom infrastructure is being accelerated by high costs and environmental concerns, aligning with Clear Blue's offerings [3][6] Partner Overview - iSat Africa provides integrated communication services, including Network as a Service (NaaS) and Energy as a Service, transforming connectivity in Africa [5][6] - The NaaS model allows for scalable and cost-effective network deployment without upfront investments, supporting LTE, 5G, and satellite services [6]

Financial Performance - Clear Blue Technologies reported Q1 2025 revenue of CAD 1,051,261, a 30% increase from CAD 808,553 in Q1 2024 [1] - Gross profit for Q1 2025 was CAD 551,601, representing a 63% increase compared to CAD 338,339 in Q1 2024 [5] - The gross margin percentage improved to 52% from 42% in the same quarter of the previous year [5] - Non-IFRS Adjusted EBITDA for the period was CAD (2,634,592), a 62% decrease from CAD (1,629,513) in the previous period [5] Market Trends and Opportunities - Clear Blue identifies three key themes for growth: the mainstream adoption of smart solar lighting, the transition away from diesel in Africa's telecom sector, and the expansion of satellite internet and IoT services [4][5] - The company is positioned to benefit from a projected CAD 25 million revenue opportunity over the next three years through its partnership with Eutelsat for satellite-powered community internet and IoT services [5] Operational Insights - As of March 31, 2025, bookings decreased to CAD 4,365,698, a 14% decline from CAD 5,071,105 as of December 31, 2024 [5] - Recurring revenue for Q1 2025 was CAD 217,662, down 28% from CAD 300,786 in Q1 2024 [5] - Cash as of March 31, 2025, was CAD 128,971, remaining stable through Q1 [5] Strategic Initiatives - The company has completed its financial restructuring, which was a significant effort by the management team, and is now focused on building a strong growth trajectory [6][7] - Clear Blue has expanded its product portfolio with three new products over the last two years, enhancing its market position [6]