Current Contract revenue backlog increased 47% to $954 million versus Q1, now up 120% year-to-date
Q2 2025 Revenue increased 126% to $8.5 million compared to the prior year period
Q2 2025 GAAP gross profit of 29.6%, increasing 140% versus prior year to $2.5 million
Q2 2025 Adjusted EBITDA improved 11% versus prior year, to a loss of $13.7 million from a loss of $15.4 million
Implemented an additional $6.5 million cost savings initiative (annualized)
Cash improved 23% versus prior quarter to $58.1 million, finishing at the high end of the previous guidance range
Cross Trails project financing of $17.8 million completed in July; another $27 million in total net ITC proceeds anticipated in September
Exclusivity agreement signed with leading, multi-billion-dollar infrastructure fund launching ‘Asset Vault’ with $300 million Preferred Equity Investment to support construction and operation of 1.5GW of owned Energy Storage IPP Projects expected to generate $100M+ in annual, recurring project-level EBITDA over the next 3-4 years