NXT Energy Solutions (SFD) Q2 2026 earnings summary

Executive summary

• Entered second half of 2026 with strong commercial and financial footing, securing new contracts in Africa and South Asia.

• Mobilization for the next African SFDⓇ survey began in August 2026; revenues from new contracts expected in Q3-26.

• Appointed new CEO, Gerry Sheehan, and added Marvin Singer to the board post-quarter.

Financial highlights

• SFDⓇ-related revenues were $0.11 million YTD 2026, down from $14.12 million YTD 2025; Q2-26 revenue was nil versus $1.66 million in Q2-25.

• Net loss for Q2-26 was $2.56 million; YTD 2026 net loss was $4.97 million.

• Net loss per share for Q2-26 was $0.02 (basic and diluted), compared to $0.08 loss in Q2-25.

• Cash and short-term investments at June 30, 2026, were $1.72 million; net working capital was $2.09 million.

• Cash flow used by operating activities was $0.15 million in Q2-26 and $1.92 million YTD 2026.

Outlook and guidance

• Revenues from new African and South Asia contracts expected to be recognized starting Q3-26.

• Continued focus on scaling survey activities in regions with high oil and gas potential.

• Forward-looking statements highlight execution and timing risks for upcoming surveys.