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Earnings

Next Hydrogen Reports Q3 2025 Financial Results

By The Northwire Desk — AI Analysis Nov 14, 2025 · 07:00 NXH · 0.78 Next Hydrogen Solutions Inc.
NXH · Price

Executive Summary

  • Next Hydrogen Solutions reported Q3 2025 revenue of $2.3 M and a net profit of $0.1 M, marking its first profitable quarter versus a $3.9 M loss year‑over‑year.
  • The company announced a non‑brokered private placement of common shares at $0.45 per share for gross proceeds of $20–30 million, expected to close around November 28 2025 and fund cash‑flow positivity and product line expansion.
  • Additional financing activities include a $0.5 M unsecured loan from directors/officers (July 2025) and a further $1 M draw on its $5 M Export Development Canada working‑capital facility (July 2025).

Key Details

  • Q3 2025 Financial Highlights
  • Revenue: $2.3 M (up from $0.1 M in Q3 2024)
  • Net Income: $0.1 M (vs. a loss of $3.9 M in Q3 2024)
  • Nine‑month revenue: $2.9 M; nine‑month net loss: $5.8 M (improved from $11.2 M loss YoY)

  • Cash balance as of Sept 30 2025: $0.9 M (down from $3.6 M on Dec 31 2024)

  • Private Placement (Nov 2025)

  • Type: Non‑brokered private placement of common shares
  • Price per share: $0.45
  • Expected gross proceeds: $20–30 million
  • Lead underwriter: Smoothwater Capital Corporation
  • Use of proceeds: Accelerate commercialization of NH‑150 electrolyzer, develop larger NH‑500 model, and execute a capital‑light growth strategy toward cash‑flow positivity.

  • Anticipated closing date: on or about Nov 28 2025 (subject to regulatory approvals).

  • Operational Milestone (July 2025)

  • Commissioned electrolyzer at Ontario’s largest onsite hydrogen fueling station, producing up to 650 kg of H₂ per day for fuel‑cell forklifts.

  • Director/Officer Loan (July 2025)

  • Unsecured loan amount: $0.5 M from existing directors and officers.

  • Export Development Canada Facility Draw (July 2025)

  • Additional draw: $1 M under a $5 M working‑capital facility (total drawn to date $4 M).

Notable Quotes

“This financing, once closed, is expected to fully fund us to cashflow positive while enabling us to scale our existing product line and launch our larger product line.” – Raveel Afzaal, President & CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the release.

Read the original news release →

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Financings