CEMATRIX (CVX) investor relations material

Executive summary

• Achieved record financial results in 2025, with revenue of $45.1M and a 25% CAGR since 2017.

• Q1 2026 revenue increased 11% year-over-year to $7.3 million, but gross margin declined to 9% from 22% due to a shift toward larger projects.

• Cash position strengthened to $15.7 million as of March 31, 2026, up from $11.9 million at year-end 2025.

• No plans for new capital raises; focus remains on organic growth and selective acquisitions.

• Maintains industry leadership in cellular concrete, leveraging scale and technical expertise.

Financial highlights

• Q1 2026 revenue: $7.3 million, up from $6.6 million (11% increase year-over-year).

• Gross margin in Q1 2026: $0.7 million (9%), down from 22% last year, attributed to project size and timing.

• Adjusted EBITDA in Q1 2026: negative $0.6 million, compared to negative $0.1 million in Q1 2025.

• Cash flow from operations before working capital: negative $0.6 million; with working capital, positive $4.6 million.

• Cash balance at March 31, 2026: $15.7 million, up from $11.9 million at Q4 2025.

Outlook and guidance

• 2026 is forecasted to be another strong year, with Q2 expected to be the best second quarter ever.

• Management expects gross margins to improve, targeting a sustainable 30% going forward.

• Backlog increased with $17 million in new projects won in Q1 2026.

• Management remains highly optimistic, citing robust backlog and projects underway.

• Long-term growth trend expected to continue, supported by infrastructure spending tailwinds.