Overview

* Anaergia ( ANRGF ) Q3 revenue grows 76.9% yr/yr, driven by higher capital sales in Italy and North America

* Adjusted EBITDA for Q3 2025 beats analyst expectation, showing substantial improvement

* Revenue backlog grows to $287 mln, at the end of the quarter, indicating strong project pipeline

Outlook

* Anaergia ( ANRGF ) sees continued growth opportunities in the renewable natural gas sector

* Anaergia ( ANRGF ) expects favorable regulatory and environmental trends to support market demand

Result Drivers

* CAPITAL SALES - Revenue growth driven by higher capital sales project execution in Italy and North America

* CAPITAL-LIGHT MODEL - Implementation of capital-light business model improved quarterly operating results

* REVENUE BACKLOG - Revenue backlog expands to $287 mln, indicating strong project pipeline

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat C$2.6 -C$5.7

Adjusted mln mln (1

EBITDA Analyst)

Analyst Coverage

* The one available analyst rating on the shares is "buy"

* The average consensus recommendation for the environmental services & equipment peer group is "buy"

* Wall Street's median 12-month price target for Anaergia Inc ( ANRGF ) is C$5.00, about 48% above its November 11 closing price of C$2.60

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)