The following is a summary of the Thermal Energy International Inc. (TMGEF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Thermal Energy International posted a Q3 revenue of $6.1 million, a growth of 8%.

• Its EBITDA and net income for the quarter were $322,000 and $44,000 respectively.

• The company achieved its highest ever 12-month revenue of $26.6 million, a 26% increase from the last fiscal year.

• The 12-month revenue represented a 75% increment over the past two years.

• The 12-month EBITDA was $2.7 million, up by a massive 240% from the year-ago period.

Business Progress:

• The company made strategic investments in human resources, technology and facilities for future growth.

• It hired nine new employees and invested in CREST, a mobile app for potential energy savings.

• New ERP and accounting systems were implemented and the UK operations base was expanded.

• The firm witnessed a record high in order intake ($29.6 million) and a substantial order backlog ($20.4 million).

• With a focus on organic growth and strategic acquisitions, the company looks forward to an optimistic future.

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