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Home CompaniesNext Hydrogen Solutions Inc.

Next Hydrogen Solutions Inc.

Industrials Specialty Industrial Machinery
PortfolioPortfolio WatchlistWatchlist
Company price
0.4 CAD 0.00(0%)
Last update at 2026-11-02T14:30:00Z
Market Cap
42.28M

Momentum Score

…

Next Hydrogen Solutions Inc. develops and produces water electrolyzers to work with intermittent renewable energy in Canada. It also provides preventive maintenance and technical support services, as well as training services. Next Hydrogen Solutions Inc. was founded in 2007 and is headquartered in Mississauga, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
0.40
Low
0.40
High
52 Week Price Range
0.43
Low
0.98
High

Momentum Score

…
Loading momentum score…

A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Next Hydrogen Solutions Inc. develops electrolysis systems to produce low-carbon hydrogen for industrial and energy applications. Long-term growth drivers include global decarbonization trends, rising demand for green hydrogen, and policy support for clean energy infrastructure. Investors may find exposure to a technology-focused hydrogen systems developer attractive if the company successfully scales manufacturing and secures commercial projects.

Risk Score
High

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
0.40
Dividend Yield
-
Revenue TTM
3.42M
Revenue Per Share
0.14
Gross Profit TTM
0.77M
Debt / Equity
-
ROE
-142.88%
Net Debt
-
ROCE
-31.33%
Diluted EPS TTM
-0.31

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax -7.65M -14.65M -12.01M -14.28M -25.01M
Net income -7.65M -14.60M -12.01M -14.28M -25.01M
Selling general administrative 3.77M 5.68M 5.14M 6.17M 6.09M
Gross profit 0.77M -0.33M -0.29M -0.71M 0.10M
Reconciled depreciation 1.08M 0.95M 0.87M 0.71M 0.28M
Ebit - - - - -16.75M
Ebitda - - - -13.32M -24.37M
Operating income -6.41M -14.65M -12.49M -14.59M -16.75M
Other operating expenses - - - - 4.31M
Interest expense 0.90M 0.24M 0.24M 0.25M 0.36M
Tax provision 0.00M -0.05M 0.00M - -
Interest income 0.03M 0.24M 0.72M 0.56M 0.09M
Net interest income -0.87M -0.00M 0.48M 0.31M -0.27M
Total revenue 3.42M 1.36M 0.95M 0.72M 0.18M
Total operating expenses 9.83M 16.01M 13.45M 15.31M 16.93M
Cost of revenue 2.65M 1.70M 1.24M 1.43M 0.08M
Total other income expense net -0.37M - - - -7.99M
Net income from continuing ops -7.65M -14.60M -12.01M -14.28M -25.01M
Net income applicable to common shares - - - - -25.01M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 28.97M 15.46M 25.44M 33.73M 48.06M
Intangible assets 0.42M 0.62M 0.72M 0.86M 1.06M
Total liab 16.89M 16.83M 12.84M 9.82M 10.26M
Total stockholder equity 12.08M -1.37M 12.61M 23.91M 37.79M
Other current liab - - - 0.01M 3.77M
Common stock - - - - 76.39M
Capital stock 97.35M 76.42M 76.42M 76.39M 76.39M
Retained earnings -92.02M -84.37M -69.77M -57.76M -41.88M
Other liab - - - - 1.93M
Good will - 0.00M 0.00M 0.08M 0.08M
Other assets - - - - 0.10M
Cash 18.52M 3.59M 10.91M 22.08M 39.20M
Total current liabilities 8.53M 6.46M 4.61M 1.46M 6.35M
Short long term debt 5.63M 0.02M 0.06M 0.14M 0.20M
Property plant equipment - - - - 3.01M
Total current assets 20.66M 7.40M 16.25M 26.08M 43.81M
Net tangible assets - - - - 36.65M
Net receivables 0.22M 0.32M 1.43M 0.72M 1.01M
Long term debt 1.16M 3.00M 0.02M 0.09M 0.16M
Inventory 1.55M 3.05M 3.31M 2.89M 2.37M
Accounts payable 0.76M 1.01M 0.49M 0.12M 2.32M
Non current assets total 8.31M 8.06M 9.20M 7.64M 4.25M
Capital lease obligations 1.54M 1.66M 1.75M 1.82M 1.87M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments - -0.68M -2.53M -4.04M -1.55M
Change to liabilities - - - - 2.29M
Total cashflows from investing activities - - - - -1.55M
Net borrowings 4.87M 3.35M -0.43M - -5.20M
Total cash from financing activities 23.44M 3.35M -0.43M -0.44M 52.21M
Change to operating activities - - - - -3.77M
Net income -7.65M -14.60M -12.01M -14.28M -25.01M
Change in cash 14.93M -7.32M -11.18M -17.11M 38.11M
Begin period cash flow 3.59M 10.91M 22.08M 39.20M 1.09M
End period cash flow 18.52M 3.59M 10.91M 22.08M 39.20M
Total cash from operating activities -7.02M -10.00M -8.22M -12.64M -12.55M
Issuance of capital stock 18.84M - - 0.00M 57.20M
Depreciation 1.08M 0.95M 0.87M 0.71M 0.28M
Dividends paid 0.00M - - - -
Change to inventory -0.13M -0.47M -1.06M -1.68M -0.83M
Change to account receivables 0.08M 1.14M -0.77M 0.10M -0.75M
Sale purchase of stock - - - - 0.00M
Other cashflows from financing activities - - - - 0.16M
Change to netincome - - - - 15.23M
Capital expenditures 1.49M 0.69M 2.53M 4.04M 1.07M
Change in working capital -3.60M 2.58M 0.91M -2.10M -3.06M
Stock based compensation 0.28M 0.47M 0.60M 1.88M -
Other non cash items 0.93M -0.45M -0.03M -0.20M 7.61M
Free cash flow -8.52M -10.69M -10.75M -16.67M -13.67M

Peer Comparison*

Sector: Industrials Industry: Specialty Industrial Machinery

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
NXH
Next Hydrogen Solutions Inc.		 -
-%		 0.40 - - 12.36 3.50 9.38 -0.35
ENW
EnWave Corporation		 -0.01
5.26%		 0.18 - 163.93 2.12 2.93 2.28 1261.63
REKO
Reko International Group Inc		 0.70
14.00%		 5.70 18.00 10.82 0.64 0.61 0.46 3.64
CTEK
CLEANTEK Industries Inc		 -0.02
2.99%		 0.65 11.00 - 1.46 11.19 2.40 6.55
TLA
Titan Logix Corp.		 0.03
5.32%		 0.49 - - 2.31 0.86 0.49 13.17

Profile*

Next Hydrogen Solutions Inc.

Next Hydrogen Solutions Inc. develops and produces water electrolyzers to work with intermittent renewable energy in Canada. It also provides preventive maintenance and technical support services, as well as training services. Next Hydrogen Solutions Inc. was founded in 2007 and is headquartered in Mississauga, Canada.

6610 Edwards Boulevard, Mississauga, ON, Canada, L5T 2V6

647 578 6360

https://www.nexthydrogen.com

60

Name Title Year Born
Mr. Raveel Afzaal C.F.A. Pres, CEO & Director 1984
Mr. Matthew J. Fairlie M.Sc. Exec. Vice Chairman 1955
Ms. Katarzyna Malz C.A., CPA, CPA Chief Financial Officer 1984
Mr. Jim Hinatsu Ph.D. Chief Operating Officer 1959
Mr. Michael Stemp Ph.D. Chief Technology Officer 1971
Mr. Raveel Afzaal C.F.A. President, CEO & Director 1984
Mr. Matthew J. Fairlie M.Sc. Executive Vice Chairman 1955
Mr. Rohan Advani Chief Financial Officer NA
Mr. Michael Stemp Ph.D. Chief Technology Officer 1972
Mr. Jim Hinatsu Ph.D. Chief Product Officer 1960

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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