)
Visual
test
Thermal Energy International
Thermal Energy International (TMG) investor relations material
Thermal Energy International Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary27 Jan, 2026
Executive summary
Achieved record quarterly revenue of $10.2 million (CAD 10.2 million), up over 18% year-over-year, the highest in company history, driven by strong heat recovery project execution and increased GEM sales.
Adjusted EBITDA reached $814 thousand (CAD 814,000), more than tripling year-over-year; net income surged to $618 thousand (CAD 618,000), a twentyfold increase.
Maintained a strong balance sheet with $2.0 million in cash, $3.4 million in working capital, and virtually no bank debt.
Order backlog reached $21.5 million as of January 26, 2026, up 20% year-over-year, reflecting robust demand.
Strong operating cash flow and significant debt reduction since May 2022.
Financial highlights
Q2 revenue grew over 17% year-over-year to $10.2 million, with both heat recovery projects and equipment sales contributing.
Gross profit reached a record $4.0 million, with gross margin improving to 39% from 33% a year ago.
Operating expenses for Q2 were $1.9 million to $3.2 million, up $605,000 year-over-year, including one-time costs and higher salary expenses.
Trailing twelve-month net income was $2.14 million, with operating cash flow for the trailing twelve months at $1.6 million before changes in working capital.
Adjusted EBITDA for Q2 was $814 thousand, with TTM Adjusted EBITDA reaching $3.23 million.
Outlook and guidance
Despite accelerated project completions, full-year expectations remain unchanged, with a strong second half anticipated.
Management expects the downward trend in trailing twelve-month EBITDA and net income to reverse soon.
Early traction with the streamlined HeatSponge turnkey offering and strong order intake position the company for continued growth.
Order backlog as of January 26, 2026, stood at $21.5 million, indicating strong future revenue visibility.
HeatSponge strategy: What margin impact expected?
Operating expenses: What is the normalized run rate?
Customer strategy: How are target applications identified?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Latest summaries
- TimeTickerHeadlineOpen
- 6 FebPECO
Record 2025 occupancy and 7% Core FFO growth; 2026 targets 5.5% FFO growth and strong acquisitions. - 6 FebPROV
Q2 FY2026 net income rose 65% year-over-year, with higher margins and strong credit quality. - 6 FebNVDA
AI-driven digital twins and accelerated computing are set to revolutionize industrial design and manufacturing. - 6 FebCDP
2025 FFO/share rose 5.8% to $2.72, with strong leasing and investment; 2026 guidance signals more growth. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and major new contracts in space technology. - 6 FebCRINet loss widened to 7.5m PLN in H1 2024 as revenue fell and R&D costs remained high.
- 6 FebCRINet loss deepened on lower sales and higher costs, but major new contracts and restructuring are underway.
- 6 FebEMBASSY
Record revenue, NOI, and distributions highlight strong growth and robust segment performance. - 6 FebCRIRevenue fell and losses deepened, but ESA contracts and R&D projects drive future prospects.
- 6 FebTUPRS
Net income reached TRY 29.5 billion, with strong dividends and a robust net cash position.
Next Thermal Energy International earnings date
Q3 202628 Apr, 2026
Thermal Energy International
Next Thermal Energy International earnings date
Q3 202628 Apr, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Thermal Energy International Inc. is a company specializing in energy efficiency solutions for industrial and institutional clients. The company focuses on reducing carbon emissions and energy consumption through innovative products and services. Key offerings include thermal energy recovery systems, heat recovery equipment, and steam efficiency solutions. Thermal Energy International serves various sectors, including food and beverage, healthcare, pharmaceuticals, and pulp and paper industries. The company is headquartered in Ottawa, Ontario, and its shares are listed on the TSX.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage