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Earnings

5N Plus Inc. Reports Fourth Quarter and Fiscal Year 2025 Financial Results

By The Northwire Desk — AI Analysis Feb 24, 2026 · 17:15 VNP · 29.28 5N PLUS INC.
VNP · Price

Executive Summary

  • FY 2025 revenue reached $391.1 M, up 35% YoY, with Q4 2025 revenue of $102.0 M (+44% YoY).
  • Adjusted EBITDA for FY 2025 was $92.4 M, a 73% increase year‑over‑year; Q4 2025 adjusted EBITDA rose to $18.5 M (+48%).
  • Net earnings surged to $50.6 M in FY 2025 (from $14.7 M in FY 2024); net debt was cut by half to $50.3 M, improving the net‑debt/EBITDA ratio to 0.54x.

Key Details

  • Revenue: FY 2025 $391.1 M (FY 2024 $289.3 M); Q4 2025 $102.0 M (Q4 2024 $70.9 M).
  • Adjusted EBITDA: FY 2025 $92.4 M (FY 2024 $53.3 M); Q4 2025 $18.5 M (Q4 2024 $12.5 M).
  • Adjusted Gross Margin: FY 2025 $131.8 M, 33.7% of sales (FY 2024 31.6%).
  • Net Earnings: FY 2025 $50.6 M (FY 2024 $14.7 M); Q4 2025 $7.6 M (Q4 2024 $1.0 M).
  • Backlog: $394.9 M at year‑end, representing 353 days of annualized revenue (+42 days QoQ).
  • Net Debt: $50.3 M as of Dec 31 2025 (down from $100.1 M a year earlier); net‑debt/EBITDA = 0.54x.
  • Guidance FY 2026: Expected Adjusted EBITDA between $100 M and $105 M; focus on capacity expansion, productivity gains, and cost control.
  • Outlook Highlights: Continued demand growth in specialty semiconductors (renewable energy, space solar power), imaging & sensing, health/pharma performance materials; margin normalization expected for bismuth products due to cost pressures.
  • Conference Call: Scheduled for Feb 25 2026 at 8:00 a.m. EST (access details provided).

Notable Quotes

  • “FY 2025 was a truly record‑setting year… we delivered outstanding growth driven by our strategic focus on value‑added products…” – Gervais Jacques, CEO.
  • “We intend on building on our expanded earnings base to generate annual Adjusted EBITDA of between $100 and $105 million.” – Richard Perron, President & CFO.
Read the original news release →

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