CEMATRIX Announces 2025 Third Quarter Financial Results

Executive Summary

• CEMATRIX reported Q3 2025 revenue of $15.3 M, a 51% increase year‑over‑year, and adjusted EBITDA of $3.5 M, up 150% YoY.
• Year‑to‑date revenue reached $32.6 M (30% growth) with adjusted EBITDA of $5.9 M, already surpassing the full‑year 2023 record of $4.9 M.
• The company announced new contracts totaling $17.0 M and the start of a North Carolina project, while maintaining strong cash position ($9.9 M) and operating cash flow ($5.6 M YTD).

Key Details

• Revenue: Q3 2025 – $15.3 M vs. $10.1 M in 2024 (+51%); FY‑to‑date – $32.6 M vs. $25.0 M in 2024 (+30%).
• Adjusted EBITDA: Q3 2025 – $3.5 M vs. $1.4 M in 2024 (+150%); FY‑to‑date – $5.9 M vs. $1.8 M in 2024 (+228%).
• Gross Margin: $5.3 M (34%) vs. $2.8 M (27%) in Q3 2024; FY‑to‑date $10.8 M (33%) vs. $6.4 M (26%).
• Operating Income: $2.8 M in Q3 2025 vs. $0.7 M in Q3 2024 (+314%); FY‑to‑date $3.9 M vs. a loss of $(0.1) M in 2024.
• Cash Flow from Operations: $3.2 M in the quarter (up 146% YoY); $5.6 M YTD (up 229%).
• Cash Position: Ended Q3 with $9.9 M cash on hand.
• Working Capital Investment: $4.7 M YTD invested; expected to reverse later in the year as receivables are collected.
• New Business Highlights:
• Start of North Carolina project – announced July 9, 2025.
• New contracts: $5.1 M (July 21, 2025) and $11.9 M (September 15, 2025).
• Seasonality Outlook: Expect high activity in the first six weeks of Q4, followed by a slowdown in the latter half of the quarter.
• Webinar Announcement: Management will host a Q3 results webinar on Thursday, November 6, 2025 at 1:00 p.m. ET (registration link provided).

Notable Quotes

• “Our revenue in the quarter was $15.3 million… our adjusted EBITDA in the quarter was $3.5 million… we have already surpassed our best ever full‑year adjusted EBITDA of $4.9 million from 2023 with one quarter still to go!” – Randy Boomhour, President & CEO
• “We generated cash flow from operating activities of $3.2 M in the quarter and $5.6 M year‑to‑date… we ended the quarter with a cash position of $9.9 M.” – Marie‑Josée Cantin, CFO