SHARC Energy Announces Q1 2026 Financial Results

(MENAFN- GlobeNewsWire - Nasdaq) VANCOUVER, British Columbia, June 01, 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 months ended March 31, 2026. All figures are in Canadian Dollars and in accordance with IFRS unless otherwise stated.

First Quarter Financial Highlights:

• As of June 1, 2026, the Company has a Sales Pipeline¹ of 19M and Sales Order Backlog ² of $6.9M. This represents a $3.5M net increase or 102% increase in Sales Order Backlog since December 1, 2025 disclosure and nominal increases since the April 30, 2026 disclosure . Sales Pipeline saw a 15% increase since December 1, 2025 disclosure reflecting the deliberate efforts by the Company to refill the pipeline once projects convert to the order book and the growing Wastewater Energy Transfer (“ WET”) market. The combined pipeline increased 30% or $5.9M since the December 1, 2025 disclosure. The $6.9M Sales Order Backlog, which is estimated to be converted to revenue within an average of 12 months from disclosure, represents a 127% improvement compared to the year ended December 31, 2025 revenue of The Company continues to observe the maturity of its Sales Pipeline leading to improved revenue consistency and reduced volatility, providing a strong platform to scale growth.
  
• Revenue for the three months ended March 31, 2026 (“ Q1 2026”) is $0.49 million (M), representing 16% of the full year revenue in 2025 and a 51% decrease over the $1.01M of revenue reported in the three months ended March 31, 2025 (“ Q1 2025”) .
  
• During Q1 2026, the Company reported a loss of $0.9M and an Adjusted EBITDA³ loss of This compares to a loss of $0.92M and an Adjusted EBITDA loss of $0.6M in the comparative quarter representing a 1% improvement and 15% reduction, respectively.
  
• Gross margins for Q1 2026 were 31.5%, compared to 31.2% in Q1 2025. Management remains optimistic that this margin range aligns with our expectations for the coming quarters but the margin percentage varies dependent on sales mix and stage of completion of each project.
  

Michael Albertson, Chief Executive Officer and President of SHARC Energy said,“While quarterly revenue can fluctuate based on the timing of project milestones and equipment deliveries, our underlying business fundamentals continue to strengthen. The most important indicators of our future growth-our Sales Order Backlog and Sales Pipeline-have both reached record levels, providing us with increasing visibility into future revenue generation

Since December 2025, we have more than doubled our Sales Order Backlog to $6.9 million while simultaneously growing our Sales Pipeline to $19 million. This reflects the continued maturation of opportunities that we have been cultivating over the past several years and demonstrates growing market acceptance of wastewater energy transfer as a practical decarbonization solution. The fact that we have been able to significantly expand our backlog while maintaining and growing the pipeline behind it is particularly encouraging, as it positions SHARC Energy for sustained growth beyond any single reporting period.”

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