Increased Waste Treatment Backlog
The company's waste treatment backlog grew to more than $10 million by quarter end, up approximately 30% from 2024.
Improvement in Gross Profit
Gross profit for the quarter was $657,000 compared to a gross loss of $620,000 in Q1 of 2024, indicating a significant improvement.
PFAS Program Progress
The PFAS program received its first commercial shipments from the federal government and made upgrades to reduce costs and improve efficiencies. The Gen 2 unit is on track for Q4 deployment, expanding processing capacity by at least three times.
International Expansion
Improved international activity with $7 million worth of waste received from Canada, Mexico, and Germany over the past two months.
Positive Financial Indicators
Total revenue for the quarter increased slightly by 2.2% year-over-year, and EBITDA from continuing operations improved from a negative $4 million to a negative $3.3 million.