EnWave Corp (TSX-V:ENW, OTC:NWVCF) reported continued financial momentum in its fiscal third quarter 2025 results, highlighting solid revenue growth, expanding royalty streams, and improved year-to-date profitability metrics.
For the quarter ended June 30, 2025, EnWave generated revenue of $2.74 million, compared with $2.62 million in the same period of 2024, a 5% increase.
Growth was supported by the fabrication of a 120kW REV machine for Procescir of Mexico and the commencement of production on two 60kW units for MicroDried, EnWave’s longest-standing royalty partner.
Royalty revenue for the quarter was $431,000, up from $425,000 a year earlier, as additional partners and expanded product sales contributed to recurring income.
On a nine-month basis, revenue rose to $7.61 million, compared with $4.55 million in 2024, a 67% increase.
Royalty revenues for the period climbed to $1.46 million from $1.32 million last year, reflecting higher partner production and exclusivity payments.
Adjusted EBITDA losses for the nine months narrowed to $1.10 million, compared with a loss of $1.94 million in the prior year, marking a 43% improvement. For the third quarter, the company reported an adjusted EBITDA loss of $575,000, compared with income of $85,000 in the same quarter last year.
Notable developments during the quarter included MicroDried expanding its partnership through new machine purchases and licensing rights across both fruit and dairy applications.
Procescir broadened its license to produce fruit and vegetable products for a major American snack brand.
In the United States, Creations Foods amended its agreement to include dried cheese snacks for the pet treat market, while in Europe, Dairy Concepts added two new REV machines to support dairy snack production growth.
Following the close of the quarter, EnWave strengthened its capital position by completing a fully subscribed private placement led by Clarus Securities, raising $3 million through the issuance of 7.5 million shares at $0.40 each.