- Base Carbon Inc. (BCBNF, Financial) reported fourth consecutive quarter of carbon credit sales in Q1 2025.
- The company achieved a comprehensive income of $518,000 this quarter compared to a loss of $19.8 million in Q1 2024.
- Base Carbon repurchased over 4% of its shares, reducing outstanding shares to 104.75 million.
Base Carbon Inc. (BCBNF) has announced its financial results for the first quarter of 2025, showcasing a strong performance with continued momentum in carbon credit sales. The company generated $0.8 million in net cash proceeds mainly from its Vietnam water purifier carbon credit project. This marks the fourth consecutive quarter of robust sales in this segment.
The company's total assets stand at $112.3 million, including $13.4 million in cash and $25.6 million in carbon credit inventory. Base Carbon also reported a comprehensive income of $518,000 for Q1 2025, a significant turnaround from a loss of $19.8 million in the same period last year.
In Q1 2025, Base Carbon repurchased over 0.7 million shares and an additional 3.75 million shares post-quarter, effectively reducing its total outstanding shares to 104.75 million. This strategic repurchase highlights the company’s confidence in its market value.
The Vietnam project has been particularly successful, generating total cash payments of $35.2 million to date, achieving a full capital repayment and a cash gain of $14.4 million. Base Carbon remains optimistic about its ongoing projects and developments, including the India ARR project, which is expected to begin generating carbon credits in the second half of 2025.
While the company faced an operating loss of $1.01 million and saw operating expenses increase to $1.8 million, it continues to focus on advancing biochar initiatives and exploring growth opportunities within the carbon credit market.
