NOA 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	1,284	1,166	964.68	769.54	654.14
Revenue Growth (YoY)	10.17%	20.85%	25.36%	17.64%	31.23%
Cost of Revenue	904.78	770.8	678.53	548.72	455.71
Gross Profit	162.28	209.98	154.83	101.55	90.42
Selling, General & Admin	50.33	54.56	56.84	29.86	35.37
Depreciation & Amortization Expenses	1.96	1.39	-	-	-
Other Operating Expenses	0.82	0.77	1.66	0.54	-0.09
Total Operating Expenses	53.1	56.72	58.5	30.39	35.29
Operating Income	109.18	153.26	96.33	71.16	55.13
Interest Income	-11.33	15.3	25.2	37.05	21.86
Interest Expense	-58.93	-59.34	-36.95	-24.54	-19.03
Other Non-Operating Income (Expense)	17.56	-49.25	1.38	0.78	2.74
Total Non-Operating Income (Expense)	-52.71	-93.3	-10.37	13.29	5.57
Pretax Income	56.47	59.97	85.96	84.45	60.69
Provision for Income Taxes	22.64	15.96	22.82	17.07	9.29
Net Income	33.83	44.01	63.14	67.37	51.41
Net Income to Common	33.83	44.01	63.14	67.37	51.41
Net Income Growth	-23.12%	-30.30%	-6.28%	31.05%	4.47%
Shares Outstanding (Basic)	29	27	27	27	28
Shares Outstanding (Diluted)	32	33	33	31	34
Shares Change (YoY)	-2.38%	0.08%	5.40%	-7.69%	10.38%
EPS (Basic)	1.18	1.64	2.38	2.46	1.81
EPS (Diluted)	1.14	1.51	2.09	2.15	1.64
EPS Growth	-24.50%	-27.75%	-2.79%	31.10%	2.50%
Free Cash Flow	-17.01	-62.54	75.28	57.7	52.62
Free Cash Flow Growth	-	-	30.46%	9.66%	78.48%
Free Cash Flow Per Share	-0.53	-1.89	2.28	-	1.55
Dividends Per Share	0.480	0.420	0.400	0.320	0.160
Dividend Growth	14.29%	5.00%	25.00%	100.00%	-
Gross Margin	12.64%	18.01%	16.05%	13.20%	13.82%
Operating Margin	8.50%	13.15%	9.99%	9.25%	8.43%
Profit Margin	2.63%	3.78%	6.55%	8.75%	7.86%
FCF Margin	-1.32%	-5.36%	7.80%	7.50%	8.04%
EBITDA	326.41	338.27	227.65	190.43	163.14
EBITDA Margin	25.42%	29.02%	23.60%	24.75%	24.94%
EBIT	109.18	153.26	96.33	71.16	55.13
EBIT Margin	8.50%	13.15%	9.99%	9.25%	8.43%
Effective Tax Rate	40.09%	26.61%	26.55%	20.22%	15.30%

Updated Mar 11, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q