BQE Water (BQE) Q2 2025 earnings summary

Executive summary

• Achieved strong revenue growth for Q2 2025, with revenues of $11.3M, up from $3.4M in Q2 2024, and $18.7M for the six months, up from $5.9M year-over-year.

• Net income for Q2 2025 was $1.9M, up from $0.6M in Q2 2024; six-month net income was $3.6M, up from $0.07M year-over-year.

• Gross margin for Q2 2025 was $3.7M, compared to $1.6M in Q2 2024.

Financial highlights

• Cash and cash equivalents increased to $13.9M as of June 30, 2025, from $11.8M at December 31, 2024.

• Total assets grew to $31.1M from $27.1M at year-end 2024.

• Shareholders' equity rose to $24.1M from $20.5M at year-end.

• Operating cash flow for the six months was $1.7M, compared to negative $0.6M in the prior year.

Outlook and guidance

• Remaining performance obligations as of June 30, 2025, were $2.3M, expected to be completed within 12 months.

• Anticipated future work exceeds reported remaining performance obligations.