Anaergia Inc. (OTCQX: ANRGF) Financial Performance Analysis

Anaergia Inc., a company focused on sustainable waste management and renewable energy solutions, reported strong operational improvement in fiscal 2025.

According to the company’s official results, fourth-quarter 2025 revenue rose 111% year over year to $71.7 million, while full-year 2025 revenue increased 61% to $180.2 million. The company also reported that its revenue backlog increased 149%, reflecting stronger demand and a larger pipeline of future work.

In the fourth quarter of 2025, Anaergia generated gross profit of $16.1 million, up 79% from the prior-year period. For the full year, gross profit increased 82% to $46.8 million. The company said these gains were driven mainly by its Capital Sales segment, particularly in Italy and North America.

Anaergia also reported positive Adjusted EBITDA of $4.2 million in Q4 2025, compared with an Adjusted EBITDA loss of $6.3 million in Q4 2024. This marks a meaningful improvement in operating performance and suggests progress in efficiency and execution.

The price-to-sales ratio is 3.17, and the enterprise value to sales ratio is 3.44, suggesting a relatively high valuation compared to its sales. The debt-to-equity ratio of -1.06 highlights more liabilities than equity, while a current ratio of 0.72 suggests potential difficulties in covering short-term liabilities.