Enwave Corp
XTSX:ENW
Enwave Corp
EnWave Corp. is a technology company, which develops Radiant Energy Vacuum (REV), a proprietary method for the dehydration of organic materials. The company is headquartered in Delta, British Columbia and currently employs 33 full-time employees. REV technology allows for drying that preserves flavor, color, and nutrients for premium snacks, meals and ingredients. Its REV technology enables food processors to produce products that retain nutritive value, concentrated natural flavor, bright colors, texture, and physical attributes, such as puffing. Its REVworx toll drying services provide the benefits of REV drying technology without the need for in-house processing or capital investments. REV technology is offered across several market verticals in the food and pharmaceutical sectors, including legal cannabis. The firm offers two commercial REV platforms: nutraREV, which is a drum-based system that dehydrates organic materials while maintaining nutrition, taste, texture and color, and quantaREV, which is a tray-based system used for continuous drying.
EnWave Corp. is a technology company, which develops Radiant Energy Vacuum (REV), a proprietary method for the dehydration of organic materials. The company is headquartered in Delta, British Columbia and currently employs 33 full-time employees. REV technology allows for drying that preserves flavor, color, and nutrients for premium snacks, meals and ingredients. Its REV technology enables food processors to produce products that retain nutritive value, concentrated natural flavor, bright colors, texture, and physical attributes, such as puffing. Its REVworx toll drying services provide the benefits of REV drying technology without the need for in-house processing or capital investments. REV technology is offered across several market verticals in the food and pharmaceutical sectors, including legal cannabis. The firm offers two commercial REV platforms: nutraREV, which is a drum-based system that dehydrates organic materials while maintaining nutrition, taste, texture and color, and quantaREV, which is a tray-based system used for continuous drying.
Strong Revenue Growth: Q4 revenue reached $6.2 million, up 71% year-over-year, and full-year revenue was $13.8 million, a 69% increase—the highest ever for the company’s licensing and royalty business.
Profitability Improvement: Net income from continuous operations for Q4 was $928,000, up 58% year-over-year, and adjusted EBITDA was $1.4 million, nearly $1 million higher than last year.
Record Base Royalties: Q4 base royalties hit a record $418,000, up 31% year-over-year, and full-year base royalties were $1.8 million, also up year-over-year.
Repeat Orders and Pipeline: All four large-scale machine sales in fiscal 2025 were to existing royalty partners, with management expecting faster royalty growth and a stronger sales pipeline in 2026.
Expanded Manufacturing and Inventory: The company is using proceeds from a $3 million financing to pre-build large-scale machines and expand inventory, aiming for quicker delivery and higher future sales.
Guidance for 2026: Management targets selling 6 to 8 large-scale machines in 2026 and expects base royalties to reach about $2.3 million from existing installations, with upside from new orders.
