SHARC Energy Announces 2025 Year End Financial Results

VANCOUVER, British Columbia, April 30, 2026 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is pleased to announce it has filed financial results for the year ended December 31, 2025. All figures are in Canadian Dollars and in accordance with IFRS unless otherwise stated.

Fourth Quarter and Year-end Financial Highlights:

Revenue for the year ended December 31, 2025 (“YE 2025”) is $3.04 million (M), a 40% increase over the $2.17M of revenue reported in the year ended December 31, 2024 (“YE 2024”). Revenue increased 298% to $0.35M for the three months ended December 31, 2025 (“Q4 2025”) compared to ($0.18) M reported for the three months ended December 31, 2024 (“Q4 2024”).
As of April 30, 2026, the Company has a Sales Pipeline¹ of 18.7M and Sales Order Backlog² of $6.9M. This represents a $3.8M net increase or 102% increase in Sales Order Backlog since December 1, 2025 disclosure. Sales Pipeline saw a 13% increase since December 1, 2025 disclosure reflecting the deliberate efforts by the Company to refill the pipeline once projects convert to the order book and the growing Wastewater Energy Transfer (“WET”) market. The combined pipeline increased 2% or $5.6M from the previous disclosure on December 1, 2025. The $6.9M Sales Order Backlog, which is estimated to be converted to revenue within an average of 12 months from disclosure, represents a 127% improvement compared to the year ended December 31, 2025 revenue of $3.04M. The Company continues to observe the maturity of its Sales Pipeline leading to improved revenue consistency and reduced volatility, providing a strong platform to scale growth.
During Q4 2025, the Company reported a loss of $1.01M and an Adjusted EBITDA³ loss of $0.87M. This compares to a loss of $1.41M and an Adjusted EBITDA loss of $0.9M in the comparative quarter representing a 28% reduction and 4% improvement, respectively.
During YE 2025, the Company reported a loss of $3.49M and an Adjusted EBITDA loss of $2.57M. This contrasts to a loss of $3.72M and an Adjusted EBITDA loss of $2.69M in the comparative period representing a 6% reduction and 4% improvement, respectively.
Gross margins for Q4 2025 and YE 2025 were 2% and 34%, respectively, compared to (25)% and 42% reported in Q4 2024 and YE 2024, respectively. Management remains optimistic that this margin range aligns with our expectations for the coming quarters but the margin percentage varies dependent on sales mix and stage of completion of each project.

Michael Albertson, Chief Executive Officer and President of SHARC Energy, said, “2025 marked a pivotal year for SHARC Energy as we delivered record annual revenue exceeding $3 million, validating the trajectory we outlined earlier in the year and reinforcing the strength of our business model. More importantly, we saw the continued maturation of our Sales Pipeline translate into a doubling of our Sales Order Backlog to $6.9 million—providing increased visibility and confidence in our near-term revenue outlook.”

“Throughout the year, we emphasized the growing scale and diversity of opportunities in front of us, particularly larger district energy and infrastructure projects. We are now beginning to see those efforts materialize, with a stronger, more resilient backlog and a pipeline that continues to expand alongside increasing global demand for wastewater energy transfer solutions”

26-04-30 Sales Pipeline & Sales Order Backlog graph

26-04-30 Trailing 12-month revenue

Mr. Albertson continued, “While profitability remains a key focus, the improvements in Adjusted EBITDA and reduced losses demonstrate disciplined cost management as we scale. At the same time, variability in gross margins reflects the mix and timing of project execution, which we expect to normalize as volumes increase and our project base continues to diversify.

“Looking ahead to 2026, we are entering the year with meaningful momentum. Our backlog alone represents more than double our 2025 revenue, and with an average conversion cycle of approximately 12 months, we have a clear line of sight to continued growth. Combined with a robust and expanding pipeline, entry into new vertical market sectors, development of new products & partnerships and the advancement of larger-scale opportunities, we believe SHARC Energy is well-positioned for a transformative year ahead.”

YE 2025 Key Highlights and Subsequent Events

Purchase orders secured in 2026. Since the beginning of 2026, the Company has secured approximately $4.6M in SHARC Energy equipment orders including a Vancouver-based district energy system, a major Westcoast U.S. airport, a retrofit of a multi-family senior housing development on Staten Island in New York and a Calgary wastewater treatment plant. This represents growth of 135% since the previous disclosure on December 1, 2025 of $3.4M and highlights the growing demand for SHARC Energy products.
Commercial Launch of new product Back-Flush Only (BFO) System. The Company is pleased to announce is pleased to announce that it has secured a purchase order for its newly introduced BFO system to be deployed at a Wastewater Treatment Plant in Calgary, Alberta.
SHARC System Powers Groundbreaking Sen̓áḵw District Energy System. The SHARC WET system will be the core component of the Sen̓áḵw Energy System, the largest real estate development in Canadian First Nations history. The SHARC WET system was shipped to the project in Q2 2025.
SHARC Systems Shipped to US Government-Affiliated Project. The Company announced the shipment of two SHARC 880 WET Systems to a U.S. government-affiliated project. Further information about the project will be released at a later stage.
SHARC System Featured in Ottawa’s Lebreton Flats District Energy Project. The Company announced that two SHARC 880 Wastewater Energy Transfer (“WET”) systems will be used to power a district energy system in Canada’s capital city. SHARC Energy anticipates commencing submittals for the SHARC WET Systems in 2025 with equipment build and delivery expected during 2026.
False Creek Neighbourhood Energy Utility (“NEU”) Expansion. The Company continued work on the supply and maintenance agreement with the City of Vancouver for the provision and maintenance of five SHARC systems for the False Creek NEU Expansion. During the three months ended March 31, 2025, the Company completed all remaining milestones of the agreement.
SHARC System U.S. and European Patents. SHARC Energy has been granted key patents for it SHARC wastewater heat exchange system in the United States and Europe. The newly granted patents provide protection until February 14, 2043 and July 2, 2042, respectively. Additional filings are pending in Canada, Australia, the United Kingdom, Mexico, United Arab Emirates, Saudi Arabia, India and South Korea, with additional European “Unitary Patent” validations planned in multiple EU member states.
Closing of $1.57 Million Unsecured Convertible Debenture. SHARC Energy has closed a non-brokered private placement of unsecured convertible debentures of the Company for a principal amount of $1,570,000.
Fred Andriano appointed as Chairman of the Board of Directors. On May 5, 2025, the Company announced significant changes to its Board of Directors, appointing Fred Andriano as Chairman of the Board and Executive Officer, replacing Lynn Mueller, who will now serve as Vice Chairman and Executive Officer. Furthermore, the Company accepted the retirement and resignation of Eleanor Chiu as Director.

For complete financial information for the year ended December 31, 2025, please see the Annual Audited Financial Statements and Management Discussion and Analysis filed on SEDAR at www.sedar.com.

About SHARC Energy
SHARC International Systems Inc. is a world leader in energy transfer with the wastewater we send down the drain every day. SHARC Energy's systems exchange thermal energy with wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & hot water production for commercial, residential and industrial buildings along with thermal energy networks, commonly referred to as “District Energy”.

SHARC Energy is publicly traded in Canada (CSE: SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt: IWIA) and you can find out more on our SEDAR profile.

ON BEHALF OF THE BOARD

Fred Andriano
Chairman

For investor inquiries, please contact:
Hanspaul Pannu
Chief Financial Officer
SHARC Energy
Telephone: (604) 475-7710 ext. 4
Email: hanspaul.pannu@sharcenergy.com

For media inquiries, please contact:
John Louis Fahie
Marketing
SHARC Energy
Telephone: 604.475.7710 Ext.109
Email: johnlouis.fahie@sharcenergy.com

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified using words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. SHARC Energy’s actual results could differ materially from those anticipated in this forward-looking information because of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. SHARC Energy believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether because of new information, future events or otherwise, except as required by applicable securities legislation.

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1} Sales Pipeline is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the YE 2025 MD&A.
² Sales Order Backlog is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the YE 2025 MD&A.
³ Adjusted EBITDA is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the YE 2025 MD&A.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/030ffa77-ba1f-4b71-b1e9-f0d5c28ebbe5

https://www.globenewswire.com/NewsRoom/AttachmentNg/a0fe4e8f-c21f-4017-87a9-e81a49867576

Sales Order Backlog and Sales Pipeline

Graph presenting past 8 quarter Sales Order Backlog and Sales Pipeline progression

Trailing 12-month revenue

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