Toronto, Ontario--(Newsfile Corp. - November 18, 2025) - Clear Blue Technologies International Inc. (TSXV: CBLU) ("Clear Blue" or the "Company"), the Smart Off-Grid™ Company, is pleased to provide a corporate update on its business operations and preliminary Q3 2025 results.
Over the last year, Clear Blue has substantially reduced debt levels, operating costs, and built its sales traction. These actions have created a foundation to support future growth. Throughout its history, the Company invested heavily in Research & Development (R&D) to develop next-generation smart power products for its key markets in Telecom, Satellite Internet, and Lighting for deployment in North America and Africa.
Going into 2026, Clear Blue is entering a new phase where the necessary R&D spend is significantly reduced, and the Company has entered full commercialization across its entire portfolio of four product lines (Pico, Nano, Micro, Lighting).
To support these commercialization efforts, Clear Blue has invested in key partnerships with leading organizations such as Eutelsat Group (FP: ETL), Cooper Lighting, iSat Africa, and several North American power utilities. These partners are also now in the commercialization stage of their rollouts and are expected to be important in driving market traction and order volume given the nature of their scale.
As a result, order bookings1 as of November 18, 2025, totaled $5,734,699 compared to bookings of $2,196,669 for the entire 2024 calendar year, representing a 161% increase. This increase showcases the improving sales trajectory and customer mix. In addition, $1.2 million worth of bookings comprise recurring Energy-as-a-Service fees which are contracted revenues that will be recognized in future years.
Overall, Clear Blue believes that 2026 presents the opportunity to take advantage of the growing sales pipeline and showcase Clear Blue 2.0's goal of continued improvements to financial performance. This prospect is made possible with the significant restructuring efforts finalized in early 2025, traction on the expanded product line, and strengthening market conditions.
"Our transition to Clear Blue 2.0 has resulted in a stronger balance sheet, reduced debt, lower operating costs, and improved cashflow, along with the introduction of new products and strategic partnerships," said Miriam Tuerk, Co-Founder & CEO of Clear Blue. "Looking ahead into 2026, we intend to maintain this focus and direct our efforts toward operational growth."
Furthermore, the Company would like to highlight the following recent developments:
On November 4, 2025, the Canadian government released its proposed budget. Within the budget was the inclusion of public companies in the enhanced SR&ED tax credit rate of 35%. When passed, the enhanced tax credit rate, along with other anticipated credits, incentives, and grants, are expected to provide a potentially material amount of cash to Clear Blue in 2026.
Last week, Clear Blue's partnership with Eutelsat was highlighted in Eutelsat's Africacom booth, demonstrating the power and connectivity products to be rolled out across Africa.
On November 11, 2025, Clear Blue was awarded a repeat $1.5 million order from its long-time partner iSat Africa ("iSat") for sites in The Democratic Republic of the Congo, South Sudan, Liberia, and Zambia. The order is expected to ship throughout the next two quarters and iSat is expected to increase their investments going forward.
Clear Blue's Lighting business has grown new relationships with 4 North American power utilities this year. The Company believes there is a significant opportunity to scale long-term with utilities having achieved successful pilot tests.
Preliminary Q3 2025 Financial Results Highlights
Clear Blue also announced the following preliminary Q3 2025 results. The Company's full financials are expected to be released on November 26, 2025, after the market close.
Revenues for the fiscal quarter ended September 30, 2025, were approximately $953,972, and $3,139,229 for the nine-months ended, representing a 158% and 43% increase respectively over the same periods in the prior year.
Adjusted EBITDA2 for the fiscal quarter was approximately ($332,264) and ($944,159) year-to-date, representing an improvement of 54% and 47% respectively over the same period.
Net loss for the fiscal quarter was approximately $789,437 and $1,174,335 year-to-date, representing an improvement of 50% and 71% respectively.
Operating expenses for the fiscal quarter were approximately $861,614 and $2,809,421 year-to-date, representing a reduction of 36% and 26% respectively.
Bookings to date in 2025 were $5,734,699 compared to $2,196,669 in all of 2024, representing an increase of 161%.
Recurring revenues remain central to Clear Blue's business strategy, with the average recurring component rising from 6% of new orders in 2024 to 20% in 2025. While this shift enhances future long-term growth, it results in a lower proportion of one-time revenue recognized during the year. Had the 2024 ratio persisted in 2025, year-to-date revenue through Q3 would have reached $3,688,594, representing a 69% increase over the prior year.
Working capital of approximately $1,050,998 as of September 30, 2025.
These preliminary results are based on currently available information and does not present all necessary information for an understanding of the Company's expected results of operations for the three months ending September 30, 2025. These preliminary estimates have been prepared by and are the responsibility of management. The Company has not completed its closing procedures for the quarter yet and it is possible that items may be identified that require adjustments to the preliminary estimated results set forth above. Accordingly, undue reliance should not be placed on these preliminary estimates. Further, the Company's preliminary estimated results are not necessarily indicative of the results to be expected for the remainder of the year or any future period.
About Clear Blue Technologies International
Clear Blue Technologies provides Smart Off-Grid™ power solutions and services for mission-critical infrastructure such as telecommunications, Internet of Things (IoT), and street lighting. The Company's technology enables cost savings, predictive maintenance, and reliable power in remote or challenging environments.
Forward-Looking Statements:
This press release contains "forward-looking statements." Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, the following: full commercialization of all four product lines in 2026; key partnerships to drive increased market traction and order volumes; improvements in financial performance and operational growth; government tax credits and incentives, if enacted, are expected to provide significant cash; increased investments from iSat Africa; and substantial long-term growth opportunity in the North American utility sector. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assumptions include, but are not limited to the risks, uncertainties and assumptions described under "Financial Instruments" and "Risks and Uncertainties" in the Company's Management's Discussion and Analysis for the fiscal year ended December 31, 2024, a copy of which is available on SEDAR+ at www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does it undertake any obligation, to update or revise any forward-looking information contained in this press release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
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1 (Non-IFRS measure) Bookings are defined as purchase orders and order awards received by the Company.
2 (Non-IFRS Measure) Adjusted EBITDA is calculated on the basis of Earnings before Interest, Depreciation, Amortization expenses, and various non-cash items (including inventory write-off, translation, and Stock-Based Compensation) and from time-to-time certain one-time costs considered appropriate by management.
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