PFIE on NASDAQ

Profire Energy

Logo: Profire Combustion, Public domain, via Wikimedia Commons5

Oilfield technology company

Profire Energy is an oilfield technology company, specializing in the design of burner-management systems (BMS) and other combustion-management technologies. It serves the upstream and midstream portions of the oil/gas industry, providing systems that monitor and manage the burners used in the industry's combustion vessels (e.g.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

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  • TickerPFIE on NASDAQ1
  • Industrypetroleum industry1
  • HeadquartersLindon1
  • Websitewww.profireenergy.com
  • Incorporated inNV6
  • Business address321 South 1250 West, Suite 1, Lindon, Ut 840426
  • Filer categoryNon-accelerated filer, Smaller reporting company6
  • Legal formCorporation4
  • LEI5299000Z8I499RSMID744
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressc/o CT CORPORATION SYSTEM, 701 S CARSON ST STE 200, 89701 Carson City, United States4
  • Registered withBusiness Center (Secretary of State), NV200313408414

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Profire Energy is an oilfield technology company, specializing in the design of burner-management systems (BMS) and other combustion-management technologies.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

52.5%Gross margin8
20.4%Operating margin8
18.5%Net margin8
26.7%Revenue growth, 20238
19.0%Return on equity8
$5.8MFree cash flow8

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue48¢$27.7M
  • Research and development2¢$917.1K
  • Other costs29¢$17.2M
  • Interest0¢$9.4K
  • Income tax3¢$1.7M
  • Profit19¢$10.8M

Out of $58.2M in revenue.8

Where each dollar of operating cash went, fiscal 2023

  • Capital spending17¢$1.2M
  • Share buybacks28¢$2.0M
  • Kept or used elsewhere54¢$3.8M

Out of $7.1M of cash from operations.8

Financial statements

Revenue9101112138$58.2M in 2023+52% since 2017
0$20.0M$40.0M$60.0M2017: $38.3M$38.3M20172018: $45.6M$45.6M2018+19%2019: $39.0M$39.0M2019−15%2020: $21.5M$21.5M2020−45%2021: $26.4M$26.4M2021+23%2022: $45.9M$45.9M2022+74%2023: $58.2M$58.2M2023+27%
Gross profit9101112138$30.5M in 2023+51% since 2017
0$10.0M$20.0M$30.0M$40.0M2017: $20.3M$20.3M20172018: $22.9M$22.9M2018+13%2019: $19.5M$19.5M2019−15%2020: $9.5M$9.5M2020−51%2021: $11.4M$11.4M2021+20%2022: $21.7M$21.7M2022+90%2023: $30.5M$30.5M2023+41%
Operating income9101112138$11.9M in 2023+73% since 2017
-$5.0M0$5.0M$10.0M$15.0M2017: $6.8M$6.8M20172018: $8.0M$8.0M2018+17%2019: $3.2M$3.2M2019−60%2020: -$3.1M-$3.1M20202021: -$2.0M-$2.0M2021−35%2022: $5.2M$5.2M20222023: $11.9M$11.9M2023+128%
Net income9101112138$10.8M in 2023+142% since 2017
-$5.0M0$5.0M$10.0M$15.0M2017: $4.4M$4.4M20172018: $6.1M$6.1M2018+37%2019: $2.0M$2.0M2019−67%2020: -$2.2M-$2.2M20202021: -$1.1M-$1.1M2021−52%2022: $3.9M$3.9M20222023: $10.8M$10.8M2023+173%
Fiscal year2017201820192020202120222023
Revenue$38.3M9$45.6M10$39.0M11$21.5M12$26.4M13$45.9M8$58.2M8
Cost of revenue$18.0M16$22.7M10$19.5M11$11.9M12$15.0M13$24.3M8$27.7M8
Gross profit$20.3M9$22.9M10$19.5M11$9.5M12$11.4M13$21.7M8$30.5M8
Research and development$1.2M9$1.4M10$1.9M11$1.3M12$1.1M13$1.1M8$917.1K8
Operating expenses$13.4M13$16.5M8$18.7M8
Operating income$6.8M9$8.0M10$3.2M11-$3.1M12-$2.0M13$5.2M8$11.9M8
Interest$18.0K8$9.4K8
Income before tax-$1.7M13$5.7M8$12.4M8
Income tax$2.7M9$2.5M10$1.5M11-$483.6K12-$629.4K13$1.7M8$1.7M8
Net income$4.4M9$6.1M10$2.0M11-$2.2M12-$1.1M13$3.9M8$10.8M8
Earnings per share$0.099$0.1310$0.0411-$0.0512-$0.0213$0.088$0.238
Earnings per share (diluted)$0.099$0.1210$0.0411-$0.0512-$0.0213$0.088$0.228
Shares (weighted, basic)48.1M shares1347.2M shares847.4M shares8
Shares (weighted, diluted)48.1M shares1348.4M shares849.1M shares8

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The story

Profire Energy was established in Alberta, Canada in March 2002 as a private company (Profire Combustion). Brenton W. Hatch and Harold E. Albert co-founded the company to service oil/gas producers, but soon created a control panel for the management of burners, a system called the Profire 1100.

After a few years of continued development, the company made the decision to go public (in 2008) under the name Profire Energy, Inc. (OTCBB: PFIE). They have since developed additional (and more advanced) products, opened multiple offices throughout the US, and continued development of their product line for domestic and international use.

In 2025, CECO Environmental completed the purchase of Profire for approximately $122.7 million.

From Wikipedia’s article on Profire Energy, shared under CC BY-SA 4.0.7

Leadership

Who has led Profire Energy, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Andrew Limpert2007
  2. Brenton W. Hatch2008–2025
  3. Cameron M. Tidball2021–2025
  4. Ryan W. Oviatt2021–2025

Chief financial officer

  1. Andrew Limpert2007–2014
  2. Ryan W. Oviatt2015–2020

Chief operating officer

  1. Harold Albert2008–2013
2010201520202025
Board members and other officers (13)

Products and brands

Profire Energy predominately serves the North American upstream and midstream oil/gas industry, but announced a Brazilian distribution channel in early 2012, as well as an Australian distribution channel in early 2014.

From Wikipedia’s article on Profire Energy, shared under CC BY-SA 4.0.7

Former names

  • Flooring Zone IncNov 15, 2007 to Jan 16, 20096

Timeline

  1. Feb 22, 2021New chief executive Cameron M. Tidball becomes CEO17
  2. Feb 22, 2021New chief executive Ryan W. Oviatt becomes CEO18
  3. Oct 14, 2008New chief executive Brenton W. Hatch becomes CEO19
  4. Dec 3, 2007New chief executive Andrew Limpert becomes CEO20

Filings

124 filings to the SEC since October 2021: 3 annual reports, 10 quarterly reports, 22 major events, 52 insider forms, 10 large holders, 27 other. The latest 20:

  1. Feb 13, 2025SCHEDULE 13G/A EDGAR
  2. Feb 7, 2025SCHEDULE 13G/A EDGAR
  3. Jan 15, 202515-12G EDGAR
  4. Jan 10, 2025EFFECT EDGAR
  5. Jan 3, 20254 EDGAR
  6. Jan 3, 20254 EDGAR
  7. Jan 3, 20254 EDGAR
  8. Jan 3, 20254 EDGAR
  9. Jan 3, 20254 EDGAR
  10. Jan 3, 202525-NSE EDGAR
  11. Jan 3, 20254 EDGAR
  12. Jan 3, 2025S-8 POS EDGAR
  13. Jan 3, 2025S-8 POS EDGAR
  14. Jan 3, 2025S-8 POS EDGAR
  15. Jan 3, 2025POS AM EDGAR
  16. Jan 3, 20258-K EDGAR
  17. Jan 2, 2025SC 14D9/A EDGAR
  18. Jan 2, 2025SC TO-T/A EDGAR
  19. Dec 17, 2024SC TO-T/A EDGAR
  20. Dec 5, 2024SC 14D9/A EDGAR

The 124 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 17, 2024Oviatt Ryan WCo-CEOBuy3,950$1.45$5.7KForm 4
May 16, 2024Oviatt Ryan WCo-CEOBuy4,223$1.42$6.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Sources

The numbers on this page point here. Each one links to the record it came from.

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