Zefiro Methane Reports First Quarter Fiscal 2027 Financial Results
Key Highlights
- ➤Revenue $12.1 million, up 30.7% sequentially
- ➤Adjusted EBITDA turned positive at $0.1 million from a $0.6 million loss
- ➤Awarded $11.5 million state-funded well plugging contract through June 2029
- ➤Government well plugging backlog reached approximately $40 million through June 2029
- ➤October private placement raised approximately C$5.0 million gross
Expert Statements
Catherine Flax, Interim Chief Executive Officer of Zefiro
“Coming into fiscal 2027, we set two priorities: put the Viking fleet fully to work and turn the largest contracted pipeline in our history into revenue. The first quarter delivered progress on both. Revenue grew 31% from the fourth quarter to $12.1 million, and the equipment we acquired from Viking Well Service continued to ramp up, in line with our expectations, while taking our crews into Indiana and Michigan for the first time.”
Catherine Flax, Interim Chief Executive Officer of Zefiro
“Profitability moved in the right direction, although we still see meaningful room for improvement. Gross margin improved to 20.4% from 18.6% in the fourth quarter, our net loss narrowed by $0.4 million, and adjusted EBITDA returned to positive territory. Our direct operating costs now reflect a larger fleet and field workforce than we had a year ago, as well as higher fuel costs, and the margin opportunity from here lies in running that capacity at higher utilization.”
Catherine Flax, Interim Chief Executive Officer of Zefiro
“We enter the second quarter with approximately $40 million of awarded government work extending through June 2029, alongside seven new Master Service Agreements with corporate clients that the Viking acquisition made possible. In October, we completed a C$5.0 million private placement, adding working capital as we scale.”
Catherine Flax, Interim Chief Executive Officer of Zefiro
“Looking ahead into fiscal 2027, our focus is on turning that pipeline into revenue at better margins and keeping our rigs and crews fully utilized, while continuing to earn work on execution rather than on price”
Revenue Rose 31% Sequentially to $12.1 Million as the Acquired Viking Fleet Continues to Scale
Bradford, Pennsylvania--(Newsfile Corp. - November 12, 2026) - Zefiro Methane Corp. (CBOE CA: ZEFI) (FSE: Y6B) (OTCQB: ZEFIF) (the "Company", "Zefiro", or "ZEFI"), a North American environmental services company specializing in the maintenance, remediation, and plugging of orphaned and end-of-life oil and gas wells for methane abatement, has reported its financial results for the first quarter of fiscal 2027 ended September 30, 2026. All figures are presented in U.S. dollars unless otherwise noted.
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