Spartan Delta Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	369.97	275.06	592.8	1,315	552.2
Revenue Growth (YoY)	34.51%	-53.60%	-54.93%	138.19%	507.89%
Cost of Revenue	137.86	111.89	183.18	309.59	153.21
Gross Profit	232.12	163.17	409.61	1,006	398.99
Selling, General & Admin	17.23	18.36	20.18	25.54	21.35
Other Operating Expenses	-42.25	-18.8	-50.59	34.43	30.67
Operating Expenses	135.07	116.57	169.14	283.43	161.16
Operating Income	97.05	46.6	240.48	722.25	237.83
Interest Expense	-	-	-40	-28.83	-13.59
Interest & Investment Income	-	-	23.72	0.74	0.41
Currency Exchange Gain (Loss)	-0.18	0.06	-0.58	1.1	0.31
Other Non Operating Income (Expenses)	-3.54	-2.88	-0.32	15.06	10.64
EBT Excluding Unusual Items	93.33	43.78	223.3	710.32	235.59
Merger & Restructuring Charges	-	-	-18.3	-0.14	-4
Gain (Loss) on Sale of Assets	0.01	0.15	543.21	2.1	0.47
Asset Writedown	-	-	-	-7.5	-
Other Unusual Items	-	-	3.1	5.25	124.47
Pretax Income	93.35	43.93	751.3	710.03	356.53
Income Tax Expense	23.33	9.65	88.19	28.94	22.31
Earnings From Continuing Operations	70.02	34.28	663.11	681.09	334.22
Net Income	70.02	34.28	663.11	681.09	334.22
Net Income to Common	70.02	34.28	663.11	681.09	334.22
Net Income Growth	104.23%	-94.83%	-2.64%	103.78%	601.22%
Shares Outstanding (Basic)	198	173	173	156	116
Shares Outstanding (Diluted)	203	175	173	175	133
Shares Change (YoY)	15.59%	1.08%	-1.13%	31.49%	140.89%
EPS (Basic)	0.35	0.20	3.84	4.36	2.89
EPS (Diluted)	0.35	0.20	3.82	3.88	2.50
EPS Growth	76.98%	-94.82%	-1.55%	55.20%	190.70%
Free Cash Flow	-146.14	-15.74	171.57	354.75	-333.18
Free Cash Flow Per Share	-0.72	-0.09	0.99	2.02	-2.50
Gross Margin	62.74%	59.32%	69.10%	76.46%	72.25%
Operating Margin	26.23%	16.94%	40.57%	54.91%	43.07%
Profit Margin	18.92%	12.46%	111.86%	51.78%	60.52%
Free Cash Flow Margin	-39.50%	-5.72%	28.94%	26.97%	-60.34%
EBITDA	237.25	149.03	382.59	920.47	334.64
EBITDA Margin	64.13%	54.18%	64.54%	69.98%	60.60%
D&A For EBITDA	140.2	102.43	142.11	198.23	96.81
EBIT	97.05	46.6	240.48	722.25	237.83
EBIT Margin	26.23%	16.94%	40.57%	54.91%	43.07%
Effective Tax Rate	25.00%	21.96%	11.74%	4.08%	6.26%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.