The company reported a net loss of CAD 3.2 million, compared with net income of CAD 1.1 million in the second quarter of 2025. Kaelus booked CAD 12.6 million in new purchase orders during its first month under Baylin ownership and contributed revenue in June. Debt restructuring and capital changesDuring the quarter, Baylin entered a new term credit facility with the SAF Group and retired its revolving credit facility with Royal Bank of Canada. The CAD 47.4 million Kaelus purchase price consisted of CAD 10.6 million in cash, CAD 21.6 million of deferred cash compensation and CAD 15.2 million in issued share capital, according to Gary. First-half adjusted EBITDA was CAD 3.1 million, down from CAD 4.1 million a year earlier, and the net loss widened to CAD 5.5 million from CAD 1 million.