Highlights 

  • YTD 2025 SFD® revenue reached CAD 14.21M, up from CAD 0.60M in 2024. 
  • YTD 2025 net loss reduced to CAD 1.08M from CAD 6.28M in 2024. 
  • 92.7% of convertible debentures converted into equity following share price gains. 

NXT Energy Solutions Inc. (TSX:SFD) released its financial and operating results for the quarter ended September 30, 2025.  

For the third quarter of 2025, NXT recorded SFD®-related revenues of approximately CAD 0.09M, compared to nil in Q3 2024.Year-to-date2025revenuesstood at CAD 14.21M, a significant increase from CAD 0.60M during the same period of 2024. The growth was primarily attributed to the completion of two major projects — the African SFD® survey and the Southeast Asia SFD® survey. 

The company posted a YTD 2025 net loss of CAD 1.08M, down from CAD 6.28M in YTD 2024. For Q3 2025, NXT reported a net loss of CAD 1.78M, compared with CAD 1.48M in Q3 2024. Net loss per share remained at CAD 0.02 for Q3 2025 and CAD 0.01 for YTD 2025. 

Management Commentary 

Bruce G. Wilcox, Chief Executive Officer of NXT, stated: 

“The company's revenue performance for the first nine months of 2025 marks a dramatic turnaround from the prior year. Year-to-date SFD®-related revenue reached CAD 14.21 million versus CAD 0.60 million for YTD 2024. This growth was driven by two key projects: the African SFD® survey and the Southeast Asia SFD® survey which highlights a significant increase in commercial activity and project execution. NXT achieved a significant improvement in bottom-line performance, reporting a YTD 2025 net loss of CAD 1.08 million, a reduction from the CAD 6.28 million net loss in YTD 2024.” 

Operational and Balance Sheet Update 

As of September 30, 2025, NXT held cash and short-terminvestmentstotaling CAD 0.95M, with networking capitalof approximately CAD 2.60M — an increase of CAD 9.28M since December 31, 2024. 

Operating activities generated cash flow of CAD 0.73M during YTD 2025, compared with an outflow of CAD 2.58M during YTD 2024. For Q3 2025, operating activities used CAD 1.08M in cash. 

General and administrative expenses rose 15% YTD to CAD 3.44M and 12% for Q3 to CAD 1.12M, largely due to higher operational activity. 

Subsequent Developments 

After the end of the quarter, NXT’s field team commenced the data acquisition stage of the SFD® survey for AL-Haj Enterprises Private Limited in Pakistan.  

The company was also announced as a finalist for the Excellence in Energy – Upstream category at the 27th Annual Platts Global Energy Awards.