NXT Energy Solutions: Strong First Quarter 2025 Results

NXT Energy Solutions Inc. has reported significant financial gains for the first quarter ending March 31, 2025. The company's revenue from SFD® surveys surged to $12.46 million, a sharp increase from $0.60 million in Q1 2024. The net income reached $7.68 million, contrasting with a net loss of $1.79 million the previous year. This improvement reflects the effective deployment of SFD® surveys, which are now booked for the rest of 2025.

The operating cash flow was positive, at $1.47 million, compared to an outflow of $0.59 million in the prior year. General and administrative expenses rose by 9%, and net working capital notably improved, moving from a deficit at the end of 2024 to a positive $0.61 million by March 2025.

Looking ahead, NXT has secured a new contract with Synergy for an oil exploration survey in Africa, set to commence in the third quarter of 2025. This positions the company for potential continued growth through innovative exploration tactics.