Achieved annual results of $219.5 million of gross revenue and $24.1 million of adjusted EBITDA(1).
SHERWOOD PARK, AB, March 20, 2026 /CNW/ – (TSXV:VTX) – Vertex Resource Group Ltd. (“Vertex” or the “Company”) reports its financial and operational results for the fourth quarter and year ended December 31, 2025. The following should be read in conjunction with the Management Discussion and Analysis (“MD&A”) and the audited consolidated financial statements of Vertex for the year ended December 31, 2025, which are available on SEDAR+ at www.sedarplus.ca.
Vertex reported consistent activity levels throughout the fourth quarter, demonstrating steady execution across its service offerings. The Environmental Consulting segment maintained strong performance during the period, helping to offset softer market conditions, impacting the Environmental Services segment. Overall results demonstrate stability and resilience in a challenging operating environment.
Key financial results for the three months and years ended December 31, 2025, and 2024 are as follows:
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HIGHLIGHTS |
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Three Months ended |
Years ended |
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December 31, |
December 31, |
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(in thousands of Canadian Dollars) |
2025 |
2024 |
2025 |
2024 |
|
Gross revenue |
54,830 |
52,888 |
219,539 |
232,183 |
|
Less flow through subcontractor costs |
3,475 |
408 |
16,392 |
2,216 |
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Net revenue |
51,355 |
52,480 |
203,147 |
229,967 |
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Profit margin |
11,123 |
12,860 |
46,847 |
60,293 |
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Profit margin % |
22 % |
25 % |
23 % |
26 % |
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Adjusted EBITDA (1) |
5,356 |
7,018 |
24,128 |
35,889 |
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Adjusted EBITDA % (1) |
10 % |
13 % |
12 % |
16 % |
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Free cash flow (1) |
4,557 |
12,070 |
9,753 |
21,185 |
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Adjusted EBITDA per share, basic and diluted (1) |
0.05 |
0.06 |
0.22 |
0.32 |
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Loss per share, basic and diluted |
(0.06) |
(0.06) |
(0.12) |
(0.05) |
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(1) See “Non-IFRS Financial Measures” |
HIGHLIGHTS FOR THE THREE MONTHS ENDED DECEMBER 31, 2025
- Environmental Consulting gross revenue increased by 6% compared to 2024.
- Finance costs were reduced by 25% year over year, reflecting lower interest rates and debt.
- Reduced loans and borrowings and lease liabilities by $1.9 million during the quarter.
HIGHLIGHTS FOR THE YEAR ENDED DECEMBER 31, 2025
- Environmental Consulting gross revenue increased by 6% compared to 2024.
- Environmental Consulting adjusted EBITDA(1) increased by 19% compared to 2024.
- General and administrative expenses decreased by $1.7 million year over year.
- Reduced loans and borrowings and lease liabilities by $10.5 million during the year.
- The Company amended the Debenture agreement to remove the convertible feature and extended the maturity date by two years.
- The Company reduced loans and borrowings, and other liabilities by 28% since December 31, 2022, strengthening its financial position after 2 major acquisitions.
OUTLOOK
Vertex expects the operating environment to continue to be influenced by broader macroeconomic and geopolitical conditions, including evolving developments in major hydrocarbon-producing regions. While these overseas events do not have a direct impact on Vertex, prolonged unrest may have an indirect impact over time. Activity levels have shown signs of stabilization compared to the prior year. Improving visibility and more consistent customer decision making are supporting a constructive outlook, despite ongoing external uncertainty.
While external conditions continue to impact customer behavior and the timing of project execution, management is actively driving continuous internal improvement across all areas of the business. This includes strengthening operational execution, enhancing productivity, refining cost structures, and improving project delivery discipline. The Company is executing initiatives focused on efficiency, optimized resource utilization, and more consistent financial performance, positioning Vertex to perform effectively across varying market conditions.
Vertex is experiencing increased activity levels relative to the same period last year, reflecting broader engagement across its diversified service offerings and customer base. The Company continues to see a shift toward more consistent, recurring …