Thermal Energy International Inc. (TMGEF)

TMGEF Income Statement

Financials in millions CAD. Fiscal year is June - May.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Revenue	29.78	25.88	21.09	15.91	15.35
Revenue Growth (YoY)	15.07%	22.70%	32.57%	3.65%	-28.33%
Cost of Revenue	17.44	13.43	11.52	9.18	8.6
Gross Profit	12.34	12.45	9.57	6.73	6.75
Selling, General & Admin	11.53	10.82	8.35	8.52	7.75
Research & Development	0.41	0.27	0.1	-0.04	-0.09
Operating Expenses	11.94	11.09	8.45	8.49	7.66
Operating Income	0.41	1.37	1.12	-1.75	-0.91
Interest Expense	-0.29	-0.42	-0.45	-0.34	-0.32
Interest & Investment Income	0.06	0.05	-	-	-
Other Non Operating Income (Expenses)	-0	-	-	-	-
EBT Excluding Unusual Items	0.18	1	0.67	-2.09	-1.23
Other Unusual Items	-	-	0.02	0.34	1.24
Pretax Income	0.18	1	0.69	-1.75	0.02
Income Tax Expense	0.02	0.02	-0.03	0.09	-0.2
Earnings From Continuing Operations	0.16	0.98	0.72	-1.84	0.22
Minority Interest in Earnings	-0.09	-0.05	-0	-0.08	-0.02
Net Income	0.07	0.93	0.72	-1.92	0.2
Net Income to Common	0.07	0.93	0.72	-1.92	0.2
Net Income Growth	-92.13%	29.47%	-	-	-
Shares Outstanding (Basic)	173	168	164	164	161
Shares Outstanding (Diluted)	176	172	166	164	166
Shares Change (YoY)	2.56%	3.30%	1.34%	-1.08%	2.78%
EPS (Basic)	0.00	0.01	0.00	-0.01	0.00
EPS (Diluted)	0.00	0.01	0.00	-0.01	0.00
EPS Growth	-91.70%	25.03%	-	-	-
Free Cash Flow	-1.75	5.02	1.33	-1.71	-1.3
Free Cash Flow Per Share	-0.01	0.03	0.01	-0.01	-0.01
Gross Margin	41.45%	48.12%	45.37%	42.32%	43.98%
Operating Margin	1.36%	5.28%	5.30%	-11.03%	-5.92%
Profit Margin	0.25%	3.59%	3.40%	-12.07%	1.29%
Free Cash Flow Margin	-5.88%	19.40%	6.29%	-10.75%	-8.48%
EBITDA	0.8	1.75	1.48	-1.41	-0.61
EBITDA Margin	2.68%	6.77%	7.02%	-8.87%	-4.00%
D&A For EBITDA	0.39	0.38	0.36	0.34	0.3
EBIT	0.41	1.37	1.12	-1.75	-0.91
EBIT Margin	1.36%	5.28%	5.30%	-11.03%	-5.92%
Effective Tax Rate	12.01%	1.70%	-	-	-

Updated May 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.