VANCOUVER, British Columbia — SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF), known as SHARC Energy, has released its financial results for the year ended December 31, 2025. The company reported a record annual revenue of $3.04 million, marking a 40% increase compared to $2.17 million in the previous year. All figures are in Canadian dollars and reported under IFRS.
Fourth Quarter and Year-End Financial Highlights
For the fourth quarter of 2025, revenue surged 298% to $0.35 million, compared to a loss of $0.18 million in the same period of 2024. The company attributed this growth to successful project conversions and a robust sales pipeline.
As of April 30, 2026, SHARC Energy reported a sales pipeline of $18.7 million and a sales order backlog of $6.9 million. The backlog increased by $3.8 million, or 102%, since December 1, 2025, reflecting strong demand for wastewater energy transfer solutions. The combined pipeline grew by 2% or $5.6 million over the same period. The $6.9 million backlog is expected to convert to revenue within an average of 12 months, representing a 127% improvement over 2025 revenue.
Losses and EBITDA Improvement
During Q4 2025, the company reported a net loss of $1.01 million and an adjusted EBITDA loss of $0.87 million. This compares to a loss of $1.41 million and an adjusted EBITDA loss of $0.9 million in Q4 2024, representing improvements of 28% and 4%, respectively. For the full year, the net loss was $3.49 million, down from $3.72 million in 2024, while adjusted EBITDA loss improved to $2.57 million from $2.69 million.
Gross Margins and Outlook
Gross margins for Q4 2025 and full-year 2025 were 2% and 34%, respectively, compared to negative 25% and 42% in the prior year periods. Management noted that margin variability depends on sales mix and project stage, but expects margins to normalize as volumes increase.
Michael Albertson, CEO and President of SHARC Energy, commented: “2025 marked a pivotal year as we delivered record annual revenue exceeding $3 million, validating our business model. The maturation of our sales pipeline doubled our backlog to $6.9 million, providing increased visibility for near-term revenue. We are seeing larger district energy and infrastructure projects materialize, driven by global demand for wastewater energy transfer solutions.”
Albertson added: “Profitability remains a key focus. Improvements in adjusted EBITDA and reduced losses demonstrate disciplined cost management. We expect gross margin variability to normalize as project volume grows and our base diversifies.”
