Cleantek Industries Reports Strong Third Quarter 2026 Financial Results

Calgary, Alberta–(Newsfile Corp. – November 13, 2026) – Cleantek Industries Inc. (TSXV: CTEK) (“Cleantek” or the “Company”) today announced its financial results for the three and nine months ended September 30, 2026.

Cleantek achieved record third-quarter revenue of $5.187 million, up 58% over the same quarter of last year. Net income rose to $1.265 million from $352,000, while Adjusted EBITDA more than doubled to $2.126 million. The results reflect continued HALO International Program deliveries and a 12% increase in rental and service revenue.

“Our third quarter results show the value of our business diversification efforts,” said Riley Taggart, President and Chief Executive Officer of Cleantek Industries. “We set another revenue record, more than doubled Adjusted EBITDA and generated enough cash from operations to fully repay our operating line.”

Q3 2026 HIGHLIGHTS (Canadian $000s) 

• Record quarterly revenue of $5,187, an increase of 58% from $3,282 in the third quarter of 2025.

• Equipment sales of $1,753, up from $212 in the prior year quarter, primarily driven by the deliveries under the HALO International Program.

• Rental and service revenue of $3,434, an increase of 12% over the prior-year quarter.

• Net income of $1,265, or $0.04 per share (basic and diluted), compared to $352, or $0.01 per share.

• Adjusted EBITDA of $2,126, an increase of 116% from $984 in the prior-year quarter.

• Cash provided by operating activities of $2,217 (2025 – $968), with the bank operating line fully repaid during the quarter.

• Delivered 12 HALO SE Crown Mount lighting systems under the HALO International Program in the quarter, bringing total deliveries to 32 at September 30, 2026, with a further 4 units delivered in October 2026.

• Working capital of $4,022 at September 30, 2026, compared to a deficit of $482 at December 31, 2025.

SELECTED FINANCIAL INFORMATION

(Canadian $000’s, unaudited, except per share amounts)

¹ EBITDA, Adjusted EBITDA, capital expenditures and working capital are non-GAAP financial measures that do not have standardized meanings under IFRS Accounting Standards. See the Company’s Management’s Discussion and Analysis for the three and nine months ended September 30, 2026 for definitions and reconciliations to the most directly comparable IFRS measures.

OUTLOOK

Cleantek will continue to focus on expanding its international presence, growing its recurring rental and service business, and evaluating acquisitions that would expand its fleet and diversify revenue. As of the date of this release, 36 of up to 60 contracted units have been delivered under the HALO International Program.

Following its first commercial sale into South America in the second quarter, the Company continues to pursue a follow-on phase that could result in the sale of up to 15 additional units, subject to project timing and customer demand.

ABOUT CLEANTEK INDUSTRIES INC.

Cleantek Industries Inc. (www.cleantekinc.com) is a Canadian technology company providing equipment rental, field services, and proprietary industrial technology solutions to the oil and gas, mining and construction industries across North America and international markets. The Company’s HALO lighting systems and EcoSteam wastewater and heating solutions help improve operational efficiency and reduce operating costs across industrial operations. Cleantek’s common shares trade on the TSX Venture Exchange under the symbol “CTEK”.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, including statements relating to the delivery of remaining units under the HALO International Program, the potential deployment of additional units in the South American market, the growth of the Company’s rental and service business, and the evaluation of acquisition opportunities. These statements are based on assumptions management believes are reasonable, including continued customer demand, the timely collection of receivables, stable industry activity levels, and the availability of financing on acceptable terms. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including fluctuations in oil and gas industry activity levels, customer concentration, the timing of international contract deliveries and related collections, foreign exchange movements, tariffs and trade policy, access to capital, and general economic conditions. Additional risks are described in the Company’s Management’s Discussion and Analysis for the three and nine months ended September 30, 2026, available on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking statements.

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 this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/323902

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