Adjusted EBITDA

TRX Gold reported Q4 2025 and FY 2025 results with record revenue ($57.6 M) and cash generation. Q4 poured 6,404 oz and sold 6,977 oz at $3,363/oz, delivering $23.5 M revenue, $12.6 M gross profit and $12.7 M adjusted EBITDA (54% margin). FY 2025 adjusted EBITDA reached $22.0 M and net income $6.6 M; working capital improved to a 1.3 current ratio and short‑term debt was repaid. The Buckreef PEA projects 62,000 oz/yr and a $1.9 B pre‑tax NPV5%. FY 2026 guidance calls for 25‑30 k oz production, $15‑20 M capex, funded internally, with plant expansion and intensified exploration as key risks.

words.SATO Technologies reported Q3 2025 revenue of $3.34 million, up 28% YoY, and a gross profit of $381,566 versus a loss a year earlier. Net loss improved to $(284,424). Bitcoin mining fell 32% to 21 BTC, while compute‑power profit rose to $921,602 and adjusted EBITDA to $333,505. Digital assets totaled $1.46 million (9 BTC) and cash stood at $640,621. Center One achieved >99% uptime. To preserve liquidity, the company secured a three‑month payment deferral, deferred executive pay, cut contractors, considered equipment sales, and temporarily down‑clocked ~40% of its mining fleet. It is launching an AI‑compute shift with an initial ~200‑GPU rollout, scalable to over 2,000 units; a results presentation will be posted on Dec 2, 2025.

90 words.Nordic American Tankers reported Q3 2025 results, declaring a $0.13 per‑share dividend—the 113th consecutive payment—payable on Dec 22, 2025. The 20‑vessel Suezmax fleet logged an average TCE of $27,490/day against $9,000/day operating costs, delivering adjusted EBITDA of $21.4 million while posting a $2.8 million net book loss. Cash reserves exceed $70 million. The company secured a preliminary deal for two new Suezmax ships slated for delivery in H2 2028, with a firm contract expected in early 2026, and continues to rely on major oil majors for stable long‑term charters.

Zedcor (ZDCAF) reported record Q3 2025 results, with $16.0 million in revenue (+75% YoY) and $5.7 million in Adjusted EBITDA (+68% YoY). The Adjusted EBITDA margin was 36%. Zedcor’s fleet reached 2,351 units (1,053 in the U.S.). The company raised $25.311 million in equity and increased its banking facility to $50.0 million. U.S. revenue was 36% of Q3 revenue, with Houston production at 35–40 towers/week. However, they reported a working capital deficit of $(4.8)M.

Forum Energy Technologies reported Q3 2025 revenue of $196 million and a net loss of $21 million ($1.76 per diluted share). Adjusted net income was $3 million ($0.27 per diluted share), with adjusted EBITDA at $23 million, up 13% sequentially. Operating and free cash flow were $23 million and $28 million, respectively. The company repurchased 635,000 shares for $15 million and increased its 2025 full-year free cash flow guidance to $70-$80 million. Orders hit $240 million with a 122% book-to-bill ratio.

Greenway Greenhouse Cannabis Corp. (CSE: GWAY) (OTCQB: GWAYF) reported its Q1 2025 financial results, highlighting a 54% increase in average net sales price per gram to $1.71 and a gross margin surge to 50%. While net revenue dipped to $1.62 million, gross profit rose to $841,227, and net loss significantly reduced by 69% to $166,453. The company boasts a substantial inventory and a solid cash balance. Greenway also signed a supply agreement with 4C LABS in the U.K., expanding its global presence.

Consensus Cloud Solutions (CCSI) reported Q2 2025 results with revenue up 0.3% to $87.7 million, driven by 6.9% growth in its Corporate business. Net income was $20.8 million, with a 23.7% margin, while adjusted EBITDA reached $48.1 million (54.8% margin). Adjusted diluted EPS increased 2.1% to $1.46. The company generated $28.3 million in net cash from operating activities and $20.3 million in free cash flow. They also secured a $225 million credit facility and continued debt/stock repurchase programs with $57.9 million cash on hand.

Solaris Energy Infrastructure (SEI) reported strong Q2 2025 results, with revenue reaching $149 million, an 18% increase from Q1, and net income of $24 million. Adjusted EBITDA surged 29% to $61 million. The company raised its Q3 Adjusted EBITDA guidance to $58-$63 million. Solaris closed $155 million in senior convertible notes and the Stateline JV secured a $550 million loan facility. Solaris approved a Q3 dividend of $0.12 per share, marking its 28th consecutive dividend payment. CEO Bill Zartler highlighted the company’s growth in the Power Solutions segment.