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Definitions of non-GAAP measures and industry metrics used in this press release are provided below.
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“Adjusted EBITDA” is defined as net earnings before finance costs, taxes and depreciation and amortization adjusted for our normalized proportionate interest in our Build-Own-Operate assets and one-time or non-recurring items, stock-based compensation expense, asset impairment charges and write downs, gains and losses for equity-accounted investees, gain or loss on equity method adjustment, significant one-time provisions, foreign exchange gains or losses, restructuring costs, Enterprise Resource Planning (“ERP”) customization and configuration costs, litigation and other claims settlements, gains and losses resulting from changes in certain balance sheet valuations (such as derivatives and warrants) and acquisition costs.
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“EBITDA” is defined as net income before finance costs, taxes and depreciation and amortization.
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“Revenue Backlog” is defined as the balance of unrecognized, undiscounted, consolidated revenues from signed contracts in our Capital Sales and operation and maintenance services (“O&M Services”) segments. For our Capital Sales contracts, we have modeled only projects that have been contracted. For our O&M Services segment, while most of our in-hand contracts are 5-15 years in tenure, we have conservatively modeled for only 3 years of contracted revenue. See “Reconciliation of Non-GAAP Measures” below for a reconciliation of the foregoing non-GAAP measures to their most directly comparable measures calculated in accordance with GAAP.
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Conference Call and Webcast Details
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A conference call to review the Company’s financial results will take place at 10:00 a.m. (EDT) on Wednesday May 13, 2026. It will be hosted by management of Anaergia. An accompanying slide presentation will be posted to the Investor Relations section of the Company’s website shortly before the call.
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To listen to the webcast live: https://events.q4inc.com/attendee/875922396 For analysts and shareholders Q&A registration: https://events.q4inc.com/analyst/875922396?pwd=kQ2s6GT8 The webcast will be archived and available in the Investor Relations section of our website following the call.
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About Anaergia
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Anaergia is a pioneering technology company in the RNG sector, with hundreds of patents dedicated to converting organic waste into sustainable solutions such as RNG, fertilizer, and water. It is committed to addressing a significant source of greenhouse gas (GHG) emissions through cost-effective processes. Our proprietary technologies, combined with our engineering expertise and vast experience in facility design, construction, and operation, position Anaergia as a leader in the RNG industry. With a proven track record of delivering hundreds of innovative projects over the past decade, we are well-equipped to tackle today’s critical resource recovery challenges through diverse project delivery methods. As one of the few companies worldwide offering an integrated portfolio of end-to-end solutions, we effectively combine solid waste processing, wastewater treatment, organics recovery, high-efficiency anaerobic digestion, and biomethane production. Additionally, we operate RNG facilities owned by us, by third parties, or through joint ventures. This comprehensive approach not only reduces environmental impact but also significantly lowers costs associated with waste and wastewater treatment while mitigating GHG emissions.
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For further information please see: www.anaergia.comForward-Looking StatementsThis press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may relate to future plans, expectations and intentions, results, levels of activity, performance, goals or achievements, other future events or developments and may include, without limitation, information regarding our financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, plans and objectives. Particularly, information regarding our future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “estimate”, “believes”, “likely”, “potential”, “continue”, or “future” or the negative or other variations of these words or other comparable words or phrases. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking statements in this press release include, among other things, statements relating to financial condition and results of operations; Company’s strategic transition to a capital-light model; and statements regarding the Company’s Revenue Backlog1 and potential future sales.Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that we considered appropriate and reasonable as of the date such statements were made. It is also subject to known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk factors described in the Company’s annual information form and management’s discussion and analysis for the year ended December 31, 2025. Certain assumptions in respect of our ability to execute on our expansion plans; our ability to obtain or maintain existing financing on acceptable terms; and our ability to realize the anticipated benefits of such are material factors underlying forward looking information and management’s expectations. The purpose of the forward-looking statements in this press release is to provide the reader with a description of management’s current expectations regarding the Company’s financial performance and may not be appropriate for other purposes. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only to opinions, estimates and assumptions as of the date made. Furthermore, unless otherwise stated, the forward-looking statements contained in this press release are made as of the date of this press release, and we have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Reconciliation of Non-GAAP Measures | ||||
(In thousands of Canadian dollars) | ||||
Three months ended: | 31-Mar-26 | 31-Mar-25 | ||
(In thousands of Canadian dollars) | ||||
Net loss | (4,367) | (5,897) | ||
Finance costs, net | 1,175 | 1,016 | ||
Depreciation and amortization | 1,973 | 1,480 | ||
Income tax (recovery) expense | 1,435 | (1,886) | ||
EBITDA1 | 216 | (5,287) | ||
Share based compensation expense | 576 | 250 | ||
Other (gains) losses, net | (28) | 809 | ||
Foreign exchange (gain) loss | 302 | 288 | ||
Adjusted EBITDA1 | 1,066 | (3,940) | ||
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1 “EBITDA,” “Adjusted EBITDA” and “Revenue Backlog” are non-GAAP measures. See “Non-GAAP Measures.” |
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