Enterprise Group Announces Results for the Fourth Quarter and Full Year 2025
Executive Summary
- Enterprise Group reported FY 2025 revenue of $36.35 M (up 5% YoY) and generated positive operating cash flow of $16.72 M, indicating continued growth despite modest margin compression.
- Completed the acquisition of Flex Leasing Power and Service ULC (“FlexEnergy Canada”) for $20 M, creating Evolution Power Solutions and expanding Enterprise into power‑generation equipment OEM representation in Canada.
- Refinanced its debt facility, repaid a $15.68 M loan (including a $1.5 M settlement discount) and secured a new senior facility at up to prime + 2%, saving $916 k in interest and monetizing $5 M of equity on its Fort St. John property.
Key Details
- FY 2025 Financial Highlights
- Revenue: $36,353,628 (↑ 5% vs. FY 2024)
- Gross margin: $14,885,431 (41% of revenue; ↓ $675,996 YoY)
- Adjusted EBITDA: $11,790,275 (32% of revenue; ↓ $1,279,592 YoY)
- Net income: $3,532,781 (↓ $10.9 M vs. prior year)
-
Cash flow from operations: $16,718,711 ($0.21 per share)
-
Q4 2025 Highlights
- Revenue: $10,329,226 (↑ 32% QoQ)
- Gross margin: $4,231,879 (↑ 50% QoQ)
-
Adjusted EBITDA: $3,460,469 (↑ 52% QoQ)
-
Acquisition of FlexEnergy Canada
- Purchase price: $20 M for 100% of shares.
- Resulting entity renamed Evolution Power Solutions, Inc.
-
Provides exclusive Canadian OEM representation for FlexEnergy turbines and expands Enterprise’s addressable market into commercial/industrial power‑generation and CHP applications.
-
Debt Refinancing & Repayment
- Q1 2026: Repaid existing bank loan with cash payment of $15,675,574, including a $1.5 M negotiated settlement discount.
- Q2 2026: Closed new senior lending facility (interest up to prime + 2%) secured by first charge on all assets; intended for acquisitions, capex, and working capital.
- Savings realized: $916,078 lower interest expense + $1.5 M debt settlement discount = $2.416 M total cost reduction.
-
Q3 2026: Re‑financed a mortgage and monetized $5 M of equity on Fort St. John property.
-
Operational Trends
- Activity levels rose in Q4 after seasonal dip; geographic shift from Northeastern B.C. to Alberta.
- Mix moved toward smaller, more dispersed projects, affecting gross margin percentage.
Notable Quotes
“The acquisition of FlexEnergy Canada establishes Enterprise as the exclusive Canadian OEM representative for FlexEnergy turbines and broadens our platform into diversified power‑solutions, positioning us for enhanced growth.” – Leonard Jaroszuk, Chairman & CEO
All forward‑looking statements are subject to risks and uncertainties detailed in the company’s Annual Information Form.