Anaergia Inc. (TSX: ANRG) (OTCQX: ANRGF) reported second-quarter 2026 revenue of $63.9 million, beating the analyst consensus estimate of $62.85 million by 1.67%. The renewable natural gas (RNG) technology provider saw sales surge 98.07% year-over-year from $32.261 million in Q2 2025. This performance underscores accelerating commercial momentum as the company executes on a growing backlog of capital projects across Europe and North America.

The beat against market expectations highlights strong demand for Anaergia’s integrated waste-to-value solutions. Management attributed the growth to higher capital sales activity and the conversion of previously awarded projects into recognized revenue, particularly in Italy and other European markets. The company also secured approximately $66 million in new contract awards during the quarter, reinforcing its pipeline in key international markets.

Q2 2026 Financial Highlights

All figures are reported in Canadian dollars unless otherwise stated. The improvement in net loss was significant, narrowing from $9.5 million in the prior-year period to $2.1 million in Q2 2026.

Backlog and Operational Progress

Revenue Backlog, a non-GAAP measure representing unrecognized revenues from signed contracts, increased to $274.9 million at the end of June 2026. This represents a 3.8% increase from March 31, 2026, and a 7.2% increase from December 31, 2025. The expansion provides strong visibility into future contracted revenue, as new wins more than offset project execution activity during the quarter.

Gross profit rose 38.2% year-over-year to $14.5 million, primarily driven by increased margins in the Capital Sales segment. However, the gross profit margin decreased to 22.7% from 32.5% in Q2 2025, reflecting the mix of high-value capital projects currently being executed.

What the Numbers Show

The divergence between revenue growth and gross margin compression highlights the nature of Anaergia’s current execution phase. While revenue nearly doubled, the lower gross margin percentage indicates that the company is recognizing costs associated with large-scale capital installations before realizing full operational efficiencies. Nevertheless, the ability to maintain positive Adjusted EBITDA despite this margin pressure demonstrates effective cost control and operating leverage. The consistent positive Adjusted EBITDA over four quarters suggests that the company’s core operations are generating cash flow sufficient to cover adjusted expenses, even as it scales up project delivery.

Conference Call Details

Anaergia will host a conference call and webcast on Tuesday, August 11, 2026, at 8:30 a.m. ET. Chief Executive Officer Assaf Onn, Chief Financial Officer Greg Wolf, and Chief Operating Officer Dr. Yaniv Scherson will lead the discussion. Investors can register for the live webcast via the company’s investor relations portal. A replay will be archived on the Events section of Anaergia’s website for approximately one year.

Anaergia Inc., through its subsidiary Anaergia Australia Pty Ltd., has secured a contract with RF Corval Pty Ltd. to deliver proprietary technology and equipment for an advanced anaerobic digestion facility at the Goodness Grown farm production site in Tongala, Australia. The contract represents the first major reference facility for Anaergia in the Australia market and is expected to generate approximately C$14 million in revenue. The project aims to convert organic waste into renewable biomethane, supporting decarbonization efforts in the food production sector.

The facility is designed to process up to 120,000 tonnes per year of mixed agricultural and commercial feedstocks. It is projected to generate over 100 terajoules per year of gross biogas energy, with the potential to displace a significant portion of the adjacent greenhouse’s liquid petroleum gas consumption. Captured heat and CO2 will be recovered and supplied to the adjoining glasshouse operations to meet on-site energy and CO2 requirements.

Project Details and Funding

This initiative received funding from the Australian Renewable Energy Agency (ARENA) as part of its National Industrial Transformation Program. Anaergia will provide a comprehensive suite of services, including its proprietary PSM Mixers and Service Box Pro equipment. The plant is expected to be operational within two years.

Strategic Significance

Assaf Onn, CEO of Anaergia, described the contract as a strategically significant flagship project for the company in the growing Australia and New Zealand region. He noted that it marks an important step in establishing Anaergia’s presence as a leading technology provider in the region’s expanding bioenergy sector. Andrew Jackson, Head of Agricultural Real Estate at RF Corval, highlighted that the project aligns with investor expectations for sustainability and helps establish Goodness Grown as a producer of sustainably grown tomatoes.