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Earnings

Maxim Power Corp. Announces 2025 Second Quarter Financial and Operating Results

By The Northwire Desk — AI Analysis Aug 07, 2025 · 17:45 MXG · 4.89 MAXIM POWER CORP.
MXG · Price

Executive Summary

  • Maxim Power Corp. released its unaudited financial and operating results for the second quarter and first six months ended June 30, 2025.
  • For Q2 2025, revenue increased to $21.4 million (from $17.0 million in Q2 2024) and Adjusted EBITDA rose to $6.2 million (from $4.3 million), driven by higher generation volumes and realized power prices.
  • Net income for Q2 2025 was $386,000, a decrease from $1.1 million in Q2 2024, primarily due to unrealized losses on commodity swaps.
  • For the six-month period, revenue decreased to $41.7 million (from $51.8 million in 2024) and Adjusted EBITDA fell to $11.4 million (from $20.2 million), attributed to lower realized power prices and generation volumes.

Key Details

  • Q2 2025 Financials (Three Months Ended June 30, 2025):
    • Revenue: $21,416,000 (vs. $17,007,000 in 2024)
    • Net Income: $386,000 (vs. $1,056,000 in 2024)
    • Earnings Per Share (Basic): $0.01 (vs. $0.02 in 2024)
    • Adjusted EBITDA: $6,183,000 (vs. $4,287,000 in 2024)
    • Free Cash Flow: $5,163,000 (vs. $1,699,000 in 2024)
  • Six Months 2025 Financials (Six Months Ended June 30, 2025):
    • Revenue: $41,679,000 (vs. $51,775,000 in 2024)
    • Net Income: $3,652,000 (vs. $11,543,000 in 2024)
    • Earnings Per Share (Basic): $0.06 (vs. $0.23 in 2024)
    • Adjusted EBITDA: $11,419,000 (vs. $20,209,000 in 2024)
    • Free Cash Flow: $8,458,000 (vs. $14,717,000 in 2024)
  • Operating Metrics (Q2 2025):
    • Total Generation: 416,488 MWh (vs. 365,666 MWh in 2024)
    • Total Fuel Consumption: 3,400,931 GJ (vs. 3,034,857 GJ in 2024)
    • Average Alberta Market Power Price: $40.48/MWh (vs. $45.17/MWh in 2024)
    • Average Realized Power Price: $51.44/MWh (vs. $46.51/MWh in 2024)
  • Balance Sheet & Liquidity (as of June 30, 2025):
    • Loans and Borrowings: $0 (vs. $80,338,000 in 2024)
    • Total Net Debt (Net Cash): $(40,382,000) (vs. $(7,219,000) in 2024)
    • Total Assets: $360,005,000 (vs. $434,198,000 in 2024)
  • Non-GAAP Adjustments (Q2 2025):
    • Unrealized loss on commodity swaps: $4,455,000
    • Share-based compensation: $251,000
    • Other income, net: $(1,800,000)
  • Free Cash Flow Calculation Components (Q2 2025):
    • Funds generated from operating activities before change in non-cash working capital: $6,551,000
    • Property, plant and equipment additions: $(1,735,000)
    • Interest expense and bank charges: $(11,000)
    • Interest income: $358,000
Read the original news release →

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