.jpg)
1 hour ago
4
Article content
VANCOUVER, British Columbia, Aug. 25, 2026 (GLOBE NEWSWIRE) — SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC Energy” or the “Company”) is pleased to announce it has filed financial results for the three and six months ended June 30, 2026. All figures are in Canadian Dollars and in accordance with IFRS unless otherwise stated.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Second Quarter Financial Highlights:
Article content
Article content
- As of August 25, 2026, the Company has a Sales Pipeline¹ of $17.9 million and Sales Order Backlog² of $5.4 million. These figures represent decreases of 6% and 21% from the Company’s June 1, 2026 disclosure. The main reason for the decrease in backlog was a cancellation of a large District Energy project in Ontario. The combined Sales Pipeline and Sales Order Backlog remains strong at approximately $23.3 million.
- Since the beginning of 2026, the Company has secured approximately $5.1 million in SHARC Energy equipment orders, representing an increase of 59% from the $3.4 million Sales Order Backlog reported in the Company’s final disclosure of 2025. The orders span multiple geographic markets and end-use applications and reflect the continued maturation of the Company’s Sales Pipeline.
- Revenue for the three months ended June 30, 2026 (“Q2 2026”) was $0.27 million, compared with $0.85 million for the three months ended June 30, 2025 (“Q2 2025”), a decrease of approximately 68%. The Company continues to experience quarter-to-quarter revenue variability resulting from the timing of project milestones, production schedules and equipment deliveries due to larger and more complex projects.
- Gross margin for Q2 2026 was 41.4%, compared with approximately 44.0% in Q2 2025. Gross margins continue to vary on product mix, project scope, geography and the stage of completion of individual projects.
- During Q2 2026, the Company reported a net loss of $0.92 million and an Adjusted EBITDA³ loss of $0.77 million, compared with a net loss of $0.82 million and Adjusted EBITDA loss of $0.50 million during Q2 2025.
- Revenue for the six months ended June 30, 2026 was $0.76 million, compared with $1.86 million during the corresponding period of 2025. The Company reported a net loss of $1.83 million and an Adjusted EBITDA loss of $1.53 million, compared with a net loss of $1.74 million and Adjusted EBITDA loss of $1.14 million for the first six months of 2025.
- The Company ended the quarter with $1.40 million of cash and positive working capital of approximately $0.56 million, compared with cash of $0.26 million and negative working capital of approximately $0.17 million at December 31, 2025.
- During the first six months of 2026, the Company completed a $2.5 million non-brokered private placement of unsecured convertible debentures, strengthening the Company’s liquidity and providing additional capital to support operations and execution of its Sales Order Backlog and Sales Pipeline.
Article content
Article content
____________________________
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
1 Sales Pipeline is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q2 2026 MD&A.
2 Sales Order Backlog is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q2 2026 MD&A.
3 Adjusted EBITDA is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q2 2026 MD&A.
Article content
Michael Albertson, President of SHARC Energy, said “While our second quarter revenue reflects the timing of project execution and equipment deliveries, the underlying commercial indicators of the business remain encouraging. Our $5.4 million Sales Order Backlog is 59% higher than the backlog reported at the end of 2025, while our $17.9 million Sales Pipeline has been maintained despite approximately $5.1 million of new equipment orders being secured since the beginning of the year.
Article content
The ability to convert opportunities into orders while continuing to replenish the pipeline is an important indicator of the underlying demand for SHARC Energy’s technology. Our current backlog provides significantly greater forward revenue visibility than the Company has historically had, although the timing of individual projects and revenue recognition will continue to create variability between reporting periods.
Article content
Article content
The first half of 2026 also demonstrated the increasing diversity of the markets where our technology can be deployed. Projects include district energy, transportation infrastructure, wastewater treatment, multi-family residential and U.S. government-affiliated applications. At the same time, the commercial introduction of the MANTA system expands our addressable market into additional wastewater, hydronic and thermal energy applications, including wastewater treatment facilities, data centers and district heating and cooling systems.
Article content
We continue to see opportunities developing across both our established markets and newer applications for our technology. Our focus remains on working with customers, engineering partners and representatives to advance projects through the sales cycle, convert backlog into deliveries and continue building the pipeline behind it.”
Article content
Shane Dungey, Interim Chief Executive Officer and Executive Vice Chair of SHARC Energy, commented “The commercial progress Michael and the team have made provides a strong foundation as we enter this next phase for SHARC Energy. The $2.5 million financing completed during the first half of the year has strengthened our liquidity, and as at June 30, 2026, the Company had approximately $1.4 million of cash and positive working capital of approximately $0.56 million.
English (US)