Anaergia Nearly Doubles Revenue YoY

Anaergia Inc has reported CAD 63.9 million ($45.79 million) in revenue for the second quarter (Q2), up 98.1 percent from the same three-month period last year.

"The increase was primarily driven by higher capital sales project execution activity in Italy, other European countries and North America", the Burlington, Canada-based biogas producer said in a statement for its quarterly results.

Anaergia secured around CAD 66 million worth of contracts in Europe and North America in the April-June quarter. Revenue backlog reached CAD 274.9 million at the end of the period. New contracts more than offset project execution activity, it said.

The Capital Sales segment accounted for CAD 55.95 million of the total revenue, up 141.1 percent from Q2 2025. The Capital Sales segment offers packaged solutions and services, including engineering services and proprietary products. It also covers engineering procurement and construction contracts.

"As part of our new capital-light strategy, we are focusing on entering into Capital Sales contracts that will require our customers to make prepayments on our Capital Sales contracts in order to fund construction", Anaergia said in a separate analysis of results. "This includes our product companies in Europe, as these entities will require up-front payments from customers in order to start and complete orders".

The Operation and Maintenance Services segment generated CAD 3.74 million in revenue, down 27.6 percent year-on-year, according to the analysis report.

The Build-Own-Operate segment contributed CAD 4.23 million to total revenue, up 8.8 percent year-over-year.

Net loss improved to CAD 2.1 million for Q2 2026 from CAD 9.5 million for Q2 2025. Gross profit rose 38.2 percent year-on-year to CAD 14.5 million. Adjusted for nonrecurring items, earnings before interest, taxes, depreciation and amortization rebounded to CAD 1.9 million from a negative CAD 2.2 million for Q2 2025.

"These results reflect disciplined execution, improved conversion of revenue backlog into revenue, and growing demand for Anaergia’s integrated waste-to-value solutions across key markets", chief executive Assaf Onn said in the statement.

However, for the first half of 2026, Anaergia booked CAD 2.33 million in operating losses and negative operating cash flows of CAD11.73 million, according to the separate analysis report.

To minimize liquidity risks, Anaergia made lay-offs and limited non-essential spending, that report disclosed.

Current assets stood at CAD 116.91 million. Current liabilities totaled CAD 163.74 million, the report said.

"While maintaining a focus on profitable growth, management remains committed to expanding its position as a provider of integrated end-to-end solutions across organic waste processing, anaerobic digestion, biomethane production, wastewater treatment and resource recovery", Anaergia said in the statement.

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