Thermal Energy International Inc. (OTCQB:TMGEF) Q2 2025 Earnings Conference Call January 28, 2025 8:30 AM ET
Company Participants
William Crossland – President & CEO
Trevor Heisler – MBC Capital Markets Advisors
Conference Call Participants
Russell Stanley – Beacon Securities
William Crossland
Morning, everyone. I’m William Crossland, CEO of Thermal Energy International. Thank you for joining our earnings call for the second quarter ended November 30th, 2024. Our news release, financial statements, and MD&A will be posted on our website and have been filed on SEDAR. After my prepared remarks, we’ll have a question-and-answer session at which time qualified equity research analyst joining us on MS Teams will be able to ask questions. If you’re joining us online, you should be able to see our slide presentation on your screen now.
I first need to point out that today’s earnings call may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are subject to risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. For additional information, please refer to our financial statements, our MD&A for the quarter, and our other filings with the Canadian Securities Regulators.
In terms of a quick overview, our revenue continued to be very strong in the second quarter, as we again set new records for quarterly revenue and revenue on a trailing 12-month basis. We remain profitable. However, changes in product mix and the investments we’ve made in the future growth of the business, lowered our EBITDA and our net income for the quarter. Nevertheless, we continue to have positive operating cash flow. We exited the quarter with a strong balance sheet, and we’re well positioned for growth.
