Thermal Energy International Inc. (TSXV:TMG)

Revenue Breakdown

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016	FY 2015	FY 2014
Period Ending	Feb 28, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019	May 31, 2018	May 31, 2017	May 31, 2016	May 31, 2015	May 31, 2014
Thermal Energy Ottawa Revenue	30.46M	13.61M	11.81M
Thermal Energy Ottawa Revenue Growth	123.86%	15.20%	12.53%
Thermal Energy Bristol Revenue	25.78M	16.17M	14.07M
Thermal Energy Bristol Revenue Growth	59.40%	14.96%	32.79%
Revenue (Other)	-22.96M	-	-
Revenue (Total)	33.29M	29.78M	25.88M
Revenue (Total) Growth	11.77%	15.07%	22.70%

Revenue Breakdown 2

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016	FY 2015	FY 2014
Period Ending	Feb 28, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019	May 31, 2018	May 31, 2017	May 31, 2016	May 31, 2015	May 31, 2014
Sale of Goods and Equipment Revenue	24.28M	13.17M	14.73M
Sale of Goods and Equipment Revenue Growth	84.34%	-10.55%	9.53%
Services Revenue	3.96M	2.33M	1.87M
Services Revenue Growth	69.81%	24.97%	39.90%
Contracts for Heat Recovery Project Revenue	28.00M	14.27M	9.29M
Contracts for Heat Recovery Project Revenue Growth	96.14%	53.71%	47.14%
Revenue (Total)	33.29M	29.78M	25.88M
Revenue (Total) Growth	11.77%	15.07%	22.70%

Gross Profit

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016	FY 2015	FY 2014
Period Ending	Feb 28, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019	May 31, 2018	May 31, 2017	May 31, 2016	May 31, 2015	May 31, 2014
Thermal Energy Ottawa Gross Profit	11.21M	5.64M	5.41M
Thermal Energy Ottawa Gross Profit Growth	98.86%	4.15%	17.49%
Thermal Energy Bristol Gross Profit	11.83M	6.71M	7.04M
Thermal Energy Bristol Gross Profit Growth	76.40%	-4.74%	41.86%
Gross Profit (Other)	-8.67M	-50.00	-10.00
Gross Profit (Total)	14.38M	12.34M	12.45M
Gross Profit (Total) Growth	16.46%	-0.87%	30.13%

Net Income

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016	FY 2015	FY 2014
Period Ending	Feb 28, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019	May 31, 2018	May 31, 2017	May 31, 2016	May 31, 2015	May 31, 2014
Thermal Energy Ottawa Net Income	3.28M	1.34M	1.36M
Thermal Energy Ottawa Net Income Growth	145.57%	-1.68%	8.26%
Thermal Energy Bristol Net Income	1.15M	806.51K	1.71M
Thermal Energy Bristol Net Income Growth	43.02%	-52.70%	101.25%
Eliminations from Net Income	-3.15M	-1.98M	-2.08M

Key Performance Indicators

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016	FY 2015	FY 2014
Period Ending	Feb 28, 2026	May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019	May 31, 2018	May 31, 2017	May 31, 2016	May 31, 2015	May 31, 2014
Order Backlog	14.70M	12.90M	18.70M
Order Backlog Growth	13.95%	-31.02%	43.85%

Updated Apr 28, 2026. Data Source: Fiscal.ai.