BQE Water Income Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	33.13	17.18	18.14	12.16	7.51	7.7
Revenue Growth (YoY)	93.67%	-5.29%	49.18%	61.86%	-2.40%	36.46%
Cost of Revenue	19.48	8.77	9.07	7.11	3.95	4.36
Gross Profit	13.64	8.41	9.06	5.05	3.56	3.33
Selling, General & Admin	6.61	6.3	5.38	4.23	3.2	2.66
Operating Expenses	7.82	7.77	6.75	5.17	3.67	3.2
Operating Income	5.82	0.64	2.31	-0.12	-0.1	0.14
Interest Expense	-0.22	-0.22	-0.15	-0.03	-0.03	-0.02
Interest & Investment Income	0.21	0.33	0.36	0.05	0.01	0
Earnings From Equity Investments	0.2	2.47	0.42	1.49	2.8	1.14
Currency Exchange Gain (Loss)	0.1	0.22	-0.14	0.05	-0.02	-0.05
Other Non Operating Income (Expenses)	0.33	0.09	0.05	-0	0.11	0.06
EBT Excluding Unusual Items	6.43	3.53	2.84	1.44	2.76	1.27
Other Unusual Items	-	-	-	0.03	-	-
Pretax Income	6.43	3.53	2.84	1.47	2.76	1.27
Income Tax Expense	-1.2	-1.28	0.19	0.31	0.13	0.1
Net Income	7.63	4.8	2.65	1.16	2.63	1.17
Net Income to Common	7.63	4.8	2.65	1.16	2.63	1.17
Net Income Growth	98.72%	81.09%	128.37%	-55.82%	125.29%	383.93%
Shares Outstanding (Basic)	1	1	1	1	1	1
Shares Outstanding (Diluted)	1	1	1	1	1	1
Shares Change (YoY)	1.82%	0.59%	0.86%	1.33%	1.18%	1.62%
EPS (Basic)	5.91	3.78	2.12	0.93	2.13	0.96
EPS (Diluted)	5.86	3.75	2.08	0.92	2.11	0.95
EPS Growth	95.06%	80.29%	126.09%	-56.40%	122.10%	376.10%
Free Cash Flow	3.44	2.38	0.69	-0.45	-0.29	0.13
Free Cash Flow Per Share	2.65	1.85	0.54	-0.35	-0.24	0.10
Gross Margin	41.18%	48.95%	49.96%	41.54%	47.43%	43.31%
Operating Margin	17.58%	3.70%	12.74%	-0.95%	-1.40%	1.80%
Profit Margin	23.03%	27.97%	14.63%	9.56%	35.01%	15.17%
Free Cash Flow Margin	10.40%	13.83%	3.80%	-3.66%	-3.92%	1.63%
EBITDA	5.88	0.81	2.43	0	-0.05	0.18
EBITDA Margin	17.74%	4.72%	13.42%	0.01%	-0.67%	2.33%
D&A For EBITDA	0.05	0.18	0.12	0.12	0.05	0.04
EBIT	5.82	0.64	2.31	-0.12	-0.1	0.14
EBIT Margin	17.58%	3.70%	12.74%	-0.95%	-1.40%	1.80%
Effective Tax Rate	-	-	6.72%	21.02%	4.72%	8.07%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.