08:48 AM EDT, 08/22/2025 (MT Newswires) -- Renewable energy producer EverGen Infrastructure ( EVGIF ) overnight Thursday reported a more than doubling of its net loss in the second quarter as revenues fell.

For the three-months ended Jun 30, the company reported net loss of $1.95 million or $0.10 per basic and diluted share, compared with a loss of $0.875 million or $0.05 per share, a year earlier.

Revenue for the quarter decreased to near $2.8 million compared with $4.24 million, a year-ago.

"Q2 2025 was a transformational quarter for EverGen as we successfully recapitalized the business, aligned our leadership with a supportive lead investor, and continued to deliver record RNG production," said EverGen Chief Executive Chase Edgelow. "We're tracking well against our 100-day plan for the business, and while optimization activities will continue to impact near term revenues, these initiatives are critical to positioning EverGen for scalable growth in 2026 and beyond, reinforcing our long-term vision as Canada's leading RNG infrastructure platform."

The company expects to complete its refinancing and additional equity raise in Q3.

Shares of the company closed up 1.2% to $0.43 on Thursday on the TSX Venture Exchange.