Q2 2026 Anaergia Inc Earnings Call Transcript
Key Points
- Revenue surged 98% year-over-year to $63.9 million in Q2 2026, driven by strong capital sales project execution in Italy and North America.
- Adjusted EBITDA turned positive for the fourth consecutive quarter, reaching $1.9 million in Q2 2026, a 187% improvement year-over-year.
- Revenue backlog expanded to $274.9 million, up 7.2% from year-end 2025, supported by new contracts including a $58 million deal with Neogenix Fuels and an $8 million repeat contract with Vanguard Renewables.
- SoCal Biomethane became the first project to deliver renewable natural gas under California's SB 1440 program, a major milestone that opens a large, financeable market for future projects.
- Secured a $20 million revolving credit facility with National Bank of Canada, with an accordion feature to increase to $30 million, enhancing liquidity and financial flexibility.
- Net loss improved significantly, narrowing by 78% year-over-year to $2.1 million in Q2 2026, reflecting disciplined cost control and revenue growth.
- Gross margin in Q2 2026 was 22.7%, below expectations, primarily due to a $1.8 million gross margin loss at the Rhode Island bioenergy facility, which continues to underperform.
- The Rhode Island bioenergy facility remains a drag on profitability, with no clear timeline for breakeven, and management is exploring strategic alternatives for the asset.
- The Charlotte facility remains idled, with no update on its future path, adding uncertainty to the asset portfolio.
- SG&A expenses increased to $15.2 million in Q2 2026, up from $14.3 million in Q2 2025, driven by higher legal and tax service fees.
- O&M revenue declined year-over-year in Q2 2026, reflecting timing issues and variability in the capital-light strategy, though management expects growth to resume.
- Management declined to provide specific guidance on the timeline for Rhode Island breakeven, citing ongoing technical issues and underperformance.
Hello everyone. Thank you for joining us and welcome to the Anaergia second quarter 2026 conference call and webcast.(Operator Instructions)
I will now hand the conference over to Darlene Webb with Investor Relations. Darlene, please go ahead.
Thank you very much, operator, and good morning, everyone. On today's call, we'll be discussing Anaergia's earnings for the second quarter of 2026, which ended June 30, 2026.
I am joined this morning by Mr. Assaf Onn, Anaergia's Chief Executive Officer, Mr. Greg Wolf, Anaergia's Chief Financial Officer, and Dr. Yaniv Scherson, Anaergia's Chief Operating Officer.
Before beginning our formal remarks, we would like to caution listeners regarding forward-looking information and note the company's views of non-GAAP measures. Listeners are reminded, as always, that today's discussion may contain forward-looking statements. That reflect current views with respect to future events. Any such statements are subject to risks and uncertainties that could
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