Anaergia, Inc. (TSE:ANRG) has released an update.
Anaergia Inc., a waste-to-value solutions provider, reported a 33% decrease in first-quarter revenue for 2024 at $25.0 million due to completed projects and delays in new signings and customer projects. Despite the revenue dip, the company saw a 28% increase in gross profit, reaching $6.5 million, bolstered by higher-margin projects in North America and the UK. However, adjusted EBITDA experienced a drop, turning a $3.3 million earnings from the previous year into a $6.0 million loss, largely due to the absence of a substantial gain from a sale in the first quarter of 2023.
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