BQE Water 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	35.54	17.18	18.14	-	-
Revenue Growth (YoY)	106.90%	-5.29%	-	-	-
Cost of Revenue	20.28	8.77	9.08	-	-
Gross Profit	15.26	8.41	9.06	-	-
Selling, General & Admin	-3.73	-3.17	-2.73	-2.46	-1.82
Depreciation & Amortization Expenses	-0.52	-0.44	-0.43	-0.26	-0.17
Other Operating Expenses	-4.79	-4.13	-2.65	-2.44	-1.68
Total Operating Expenses	-9.03	-7.75	-5.81	-5.17	-3.67
Operating Income	24.3	16.15	14.87	5.17	3.67
Interest Income	6.66	5.7	3.83	1.4	2.72
Other Non-Operating Income (Expense)	0.07	0.32	-0.09	0.07	0.09
Total Non-Operating Income (Expense)	6.72	6.01	3.74	1.47	2.81
Pretax Income	6.46	3.53	2.84	1.47	2.76
Provision for Income Taxes	-1.6	-1.28	0.38	0.31	0.13
Net Income	8.06	4.8	2.65	1.16	2.63
Net Income to Common	8.06	4.8	2.65	1.16	2.63
Net Income Growth	67.82%	81.09%	128.37%	-55.82%	125.29%
Shares Outstanding (Basic)	1	1	1	1	1
Shares Outstanding (Diluted)	1	1	1	1	1
Shares Change (YoY)	1.95%	0.59%	0.95%	1.24%	1.18%
EPS (Basic)	6.23	3.78	2.12	0.93	2.13
EPS (Diluted)	6.17	3.75	2.08	0.92	2.11
EPS Growth	64.53%	80.29%	126.09%	-56.40%	122.10%
Shares Outstanding	1.3	1.29	1.25	1.26	1.24
Free Cash Flow	4.88	2.38	0.69	-0.45	-0.29
Free Cash Flow Growth	105.47%	244.40%	-	-	-
Free Cash Flow Per Share	3.73	1.85	0.54	-0.35	-0.24
Gross Margin	42.94%	48.95%	49.96%	-	-
Operating Margin	68.36%	94.04%	81.97%	-	-
Profit Margin	22.69%	27.97%	14.63%	-	-
FCF Margin	13.74%	13.83%	3.80%	-	-
EBITDA	24.81	16.59	15.3	5.43	3.84
EBITDA Margin	69.82%	96.60%	84.35%	-	-
EBIT	24.3	16.15	14.87	5.17	3.67
EBIT Margin	68.36%	94.04%	81.97%	-	-
Effective Tax Rate	-24.83%	-36.14%	13.45%	21.02%	4.72%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.