The earnings call highlighted the company's strong year-to-date revenue growth and robust balance sheet, alongside significant investments expected to drive future growth. However, the quarter experienced a revenue decline, negative EBITDA, and lower order intake, suggesting some challenges in the short term. The company's strategic investments and strong business development pipeline are expected to mitigate these issues in the future.

Company Guidance -

Q4 2025

In the third quarter of fiscal year 2025, Thermal Energy International reported a revenue of $5.8 million, reflecting a 4.1% decrease from the previous year, primarily due to the completion of several heat recovery projects and the early mobilization phase of new ones. Despite this, the company's year-to-date revenue reached an all-time high, 25% ahead of last year and up 76% over the past two years on a trailing 12-month basis, totaling $30.5 million. The EBITDA for the quarter was a negative $130,000, but remained positive at $1.1 million over the trailing 12 months. The net income saw a loss of $400,000 for the quarter, yet remained profitable with $230,000 over the same period. The company ended the quarter with $5.1 million in cash and cash equivalents, working capital of $2.4 million, and a reduced long-term debt of $1.4 million. Thermal Energy's year-to-date order intake was $17 million, with an order backlog of $17.1 million as of April 28, 2025. The company's strong balance sheet and significant investments over the past two years are expected to drive profitable growth, particularly in fiscal 2026. Despite a temporary lull in revenue and margins, the business development pipeline remains robust, with continued demand for energy efficiency and carbon emission reduction solutions, underscoring the company's optimistic outlook for future growth.

Record Year-to-Date Revenue

Despite a softer third quarter, the year-to-date revenue was at an all-time high, 25% ahead of last year, with trailing 12-month revenue up 76% over the past two years.

Strong Balance Sheet

The company reported a strong balance sheet with $5.1 million in cash and cash equivalents, working capital of $2.4 million, and a reduction in long-term debt by $2.1 million over the past two years.

Significant Investments for Future Growth

Investments made over the past two years are expected to drive profitable growth in fiscal 2026 and beyond, with no additional growth-oriented expenses planned in the coming quarter.

Large Engineering Contract

Secured a $500,000 engineering contract with a multinational pharmaceutical company, marking the largest engineering contract ever for Thermal Energy.

Repeat Business and Expansion

Secured a $1 million heat recovery expansion project from a leading food and beverage company, demonstrating strong repeat business and customer satisfaction.

Thermal Energy International (TSE:TMG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:TMG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 24, 2025	2025 (Q4)	- / -	0.002	―	―	―
Apr 29, 2025	2025 (Q3)	- / >-0.01	0	―	―	―
Jan 28, 2025	2025 (Q2)	- / <0.01	0	―	―	―
Oct 30, 2024	2025 (Q1)	- / -	0.001	―	―	―
Sep 19, 2024	2024 (Q4)	- / <0.01	0.001	100.00% (<+0.01)	―	―
Apr 25, 2024	2024 (Q3)	0.00 / 0.00	0.003	―	―	―
Jan 25, 2024	2024 (Q2)	- / 0.00	-0.002	―	―	―
Oct 25, 2023	2024 (Q1)	- / -	-0.003	―	―	―
Sep 27, 2023	2023 (Q4)	- / <0.01	-0.003	133.33% (<+0.01)	―	―
Apr 25, 2023	2023 (Q3)	- / <0.01	-0.006	150.00% (<+0.01)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:TMG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 29, 2025	C$0.12	C$0.11	-8.33%
Jan 28, 2025	C$0.24	C$0.16	-33.33%
Oct 30, 2024	C$0.22	C$0.21	-4.55%
Sep 19, 2024	C$0.26	C$0.22	-15.38%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Thermal Energy International Inc (TSE:TMG) report earnings?

Thermal Energy International Inc (TSE:TMG) is schdueled to report earning on Sep 24, 2025, TBA (Confirmed).

What is Thermal Energy International Inc (TSE:TMG) earnings time?

Thermal Energy International Inc (TSE:TMG) earnings time is at Sep 24, 2025, TBA (Confirmed).

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What is TSE:TMG EPS forecast?

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