SHARC Energy Announces Q2 2026 Financial Results

VANCOUVER, British Columbia, Aug. 25, 2026 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is pleased to announce it has filed financial results for the three and six months ended June 30, 2026. All figures are in Canadian Dollars and in accordance with IFRS unless otherwise stated.

Second Quarter Financial Highlights: * As of August 25, 2026, the Company has a Sales Pipeline¹ of $17.9 million and Sales Order Backlog² of $5.4 million. These figures represent decreases of 6% and 21% from the Company’s June 1, 2026 disclosure. The main reason for the decrease in backlog was a cancellation of a large District Energy project in Ontario. The combined Sales Pipeline and Sales Order Backlog remains strong at approximately $23.3 million. * Since the beginning of 2026, the Company has secured approximately $5.1 million in SHARC Energy equipment orders, representing an increase of 59% from the $3.4 million Sales Order Backlog reported in the Company’s final disclosure of 2025. The orders span multiple geographic markets and end-use applications and reflect the continued maturation of the Company’s Sales Pipeline. * Revenue for the three months ended June 30, 2026 (“Q2 2026”) was $0.27 million, compared with $0.85 million for the three months ended June 30, 2025 (“Q2 2025”), a decrease of approximately 68%. The Company continues to experience quarter-to-quarter revenue variability resulting from the timing of project milestones, production schedules and equipment deliveries due to larger and more complex projects. * Gross margin for Q2 2026 was 41.4%, compared with approximately 44.0% in Q2 2025. Gross margins continue to vary on product mix, project scope, geography and the stage of completion of individual projects. * During Q2 2026, the Company reported a net loss of $0.92 million and an Adjusted EBITDA³ loss of $0.77 million, compared with a net loss of $0.82 million and Adjusted EBITDA loss of $0.50 million during Q2 2025. * Revenue for the six months ended June 30, 2026 was $0.76 million, compared with $1.86 million during the corresponding period of 2025. The Company reported a net loss of $1.83 million and an Adjusted EBITDA loss of $1.53 million, compared with a net loss of $1.74 million and Adjusted EBITDA loss of $1.14 million for the first six months of 2025. * The Company ended the quarter with $1.40 million of cash and positive working capital of approximately $0.56 million, compared with cash of $0.26 million and negative working capital of approximately $0.17 million at December 31, 2025.