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Earnings

Cleantek Industries Inc. Reports Strong Second Quarter 2025 Results Driven by International Growth

By The Northwire Desk — AI Analysis Aug 14, 2025 · 15:19 CTEK · 0.365 Cleantek Industries Inc.
CTEK · Price

Executive Summary

  • Cleantek Industries Inc. reported financial and operational results for the second quarter ended June 30, 2025, highlighting significant top-line growth and improved profitability metrics.
  • Revenue increased 39% year-over-year to $3,352,000 CAD, driven by strong equipment sales and growing rental demand, while gross profit also rose 39% to $1,782,000 CAD.
  • The company announced the departure of Chief Financial Officer Orson Ross, who will leave the company in September 2025.

Key Details

  • Revenue: $3,352,000 CAD for Q2 2025, an increase of 39% from $2,411,000 CAD in Q2 2024.
  • Gross Profit: $1,782,000 CAD for Q2 2025, up 39% from $1,285,000 CAD in Q2 2024; gross profit margin remained consistent at 53%.
  • Net Loss: Narrowed to $457,000 CAD in Q2 2025, an improvement of $54,000 CAD compared to a net loss of $511,000 CAD in Q2 2024.
  • Adjusted EBITDA: Increased 241% to $778,000 CAD in Q2 2025, compared to $228,000 CAD in Q2 2024, primarily due to higher revenue.
  • EBITDA: $278,000 CAD for Q2 2025, down from $310,000 CAD in Q2 2024.
  • Six-Month Performance (Jan-Jun 2025):
    • Revenue: $7,057,000 CAD (up from $6,081,000 CAD in 2024).
    • Net Income/Loss: $(7,000) CAD (compared to $11,000 CAD profit in 2024).
    • Adjusted EBITDA: $2,044,000 CAD (up from $1,435,000 CAD in 2024).
  • Balance Sheet Highlights (as of June 30, 2025):
    • Total Assets: $14,537,000 CAD.
    • Working Capital Deficit: $(1,242,000) CAD (improved from $(1,939,000) CAD at Dec 31, 2024).
    • Non-current Debt: $7,493,000 CAD (consisting of $6,738,000 CAD long-term debt and $755,000 CAD lease liabilities).
  • Capital Expenditures: $134,000 CAD for Q2 2025.
  • Management Change: Orson Ross, Chief Financial Officer, announced his departure effective September 2025.

Notable Quotes

  • "Q2 performance highlights the strength of our strategy, with meaningful top-line growth driven by our growing international presence and increased market share in North America. These results reflect the strength of our model and our ability to execute, even in a softer domestic environment," commented Riley Taggart, Cleantek's President and Chief Executive Officer.
Read the original news release →

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