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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. tanks, dehydrators, separators, etc.).3 Its shares trade on NASDAQ under the symbol PFIE.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 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 margin9
20.4%Operating margin9
18.5%Net margin9
26.7%Revenue growth, 20239
19.0%Return on equity9
$5.8MFree cash flow9

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.9

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.9

Financial statements

Revenue10111213149$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 profit10111213149$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 income10111213149$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 income10111213149$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$38.3M10$45.6M11$39.0M12$21.5M13$26.4M14$45.9M9$58.2M9
Cost of revenue$18.0M17$22.7M11$19.5M12$11.9M13$15.0M14$24.3M9$27.7M9
Gross profit$20.3M10$22.9M11$19.5M12$9.5M13$11.4M14$21.7M9$30.5M9
Research and development$1.2M10$1.4M11$1.9M12$1.3M13$1.1M14$1.1M9$917.1K9
Operating expenses$13.4M14$16.5M9$18.7M9
Operating income$6.8M10$8.0M11$3.2M12-$3.1M13-$2.0M14$5.2M9$11.9M9
Interest$18.0K9$9.4K9
Income before tax-$1.7M14$5.7M9$12.4M9
Income tax$2.7M10$2.5M11$1.5M12-$483.6K13-$629.4K14$1.7M9$1.7M9
Net income$4.4M10$6.1M11$2.0M12-$2.2M13-$1.1M14$3.9M9$10.8M9
Earnings per share$0.0910$0.1311$0.0412-$0.0513-$0.0214$0.089$0.239
Earnings per share (diluted)$0.0910$0.1211$0.0412-$0.0513-$0.0214$0.089$0.229
Shares (weighted, basic)48.1M shares1447.2M shares947.4M shares9
Shares (weighted, diluted)48.1M shares1448.4M shares949.1M shares9

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Corporate structure

Profire Energy sits at the top of its group. 5 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Profire Energy

  • Profire Energy Lindon, Utah, United States
    • Midflow Services, LLC Subsidiary · Ohio, United States
    • Prochem, ULC Subsidiary · Alberta, Canada
    • Profire Combustion, Inc. Subsidiary · Alberta, Canada
    • Profire Holdings, LLC Subsidiary · Utah, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Profire Energy reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$15.5M9 Dec 31, 2023$14.7M9 Dec 31, 2022+5.7%
Accumulated depreciation$4.7M9 Dec 31, 2023$4.3M9 Dec 31, 2022+11.2%
Property and equipment, net$10.8M9 Dec 31, 2023$10.4M9 Dec 31, 2022+3.4%
Finance-lease assets$106.4K9 Dec 31, 2023$83.9K9 Dec 31, 2022+26.8%
Operating-lease assets (leased space)$326.5K9 Dec 31, 2023$36.3K9 Dec 31, 2022+799.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$10.8M9 Dec 31, 2023$7.4M9 Dec 31, 2022+45.8%
Marketable securities, current$2.8M9 Dec 31, 2023$1.2M9 Dec 31, 2022+142.5%
Marketable securities, non-current$6.4M9 Dec 31, 2023$7.5M9 Dec 31, 2022−14.4%
Long-term investments$6.4M9 Dec 31, 2023$7.5M9 Dec 31, 2022−14.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$2.6M9 Dec 31, 2023$2.6M9 Dec 31, 20220%
Finite-lived intangibles, gross$1.9M9 Dec 31, 2023$1.9M9 Dec 31, 20220%
Accumulated amortization$799.0K9 Dec 31, 2023$634.2K9 Dec 31, 2022+26.0%
Finite-lived intangibles, net$1.1M9 Dec 31, 2023$1.3M9 Dec 31, 2022−13.0%

Inventory

ItemLatestA year beforeChange
Inventory, total$14.1M9 Dec 31, 2023$10.3M9 Dec 31, 2022+36.6%
Raw materials$338.5K9 Dec 31, 2023$166.9K9 Dec 31, 2022+102.8%
Work in process$09 Dec 31, 2023$09 Dec 31, 2022
Finished goods$14.2M9 Dec 31, 2023$10.5M9 Dec 31, 2022+35.6%

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

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Midflow Services, LLC Ohio8
  • Prochem, ULC Alberta, Canada8
  • Profire Combustion, Inc. Alberta, Canada8
  • Profire Holdings, LLC Utah8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

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

Timeline

  1. Jan 3, 20258-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer36
  2. Nov 6, 20248-K Results of operations37
  3. Oct 29, 20248-K Entered a material agreement; Other events38
  4. Aug 7, 20248-K Results of operations39
  5. Jun 14, 20248-K Shareholder vote40
  6. May 24, 20248-K Regulation FD disclosure41
  7. May 8, 20248-K Results of operations42
  8. Apr 12, 20248-K Executive or director change43
  9. Mar 13, 20248-K Results of operations44
  10. Nov 8, 20238-K Results of operations45
  11. Aug 9, 20238-K Results of operations46
  12. Jul 6, 20238-K Code of ethics changed47
  13. Feb 22, 2021New chief executive Ryan W. Oviatt becomes CEO19
  14. Feb 22, 2021New chief executive Cameron M. Tidball becomes CEO18
  15. Oct 14, 2008New chief executive Brenton W. Hatch becomes CEO20
  16. Dec 3, 2007New chief executive Andrew Limpert becomes CEO21

Calendar

When it reported results

  1. Nov 6, 2024Reported quarterly or annual results37
  2. Aug 7, 2024Reported quarterly or annual results39
  3. May 8, 2024Reported quarterly or annual results42
  4. Mar 13, 2024Reported quarterly or annual results44
  5. Nov 8, 2023Reported quarterly or annual results45
  6. Aug 9, 2023Reported quarterly or annual results46
  7. May 9, 2023Reported quarterly or annual results48
  8. Mar 8, 2023Reported quarterly or annual results49

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

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.

SEC filer profile

How Profire Energy is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPROFIRE ENERGY INC2
  • CIK0001289636
  • Employer ID (EIN)20-00194252
  • Filer statusNon-accelerated filer<br>smaller reporting company2
  • Incorporated inNevada2
  • Fiscal year endsDecember 312
  • Industry code (SIC)3533 Oil & Gas Field Machinery & Equipment2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business address321 South 1250 West, Suite 1, Lindon, UT 840422
  • Phone801-796-51272
  • Shares outstanding46,199,725 as of Nov 5, 202416
  • Public float$44.2M as of Jun 30, 20239
  • On EDGAR sinceMay 6, 20042
  • Filings594 in all: 4 (190), 8-K (131), 10-Q (51), 10-K (15), DEF 14A (14), 4/A (13), SC 13D/A (13), 3 (12)2
    All 57 form types

    SD (11), 10QSB (9), SC 13G/A (8), UPLOAD (8), 424B3 (7), 5 (7), CORRESP (6), EFFECT (6), 10-Q/A (5), 8-K/A (5), DEFA14A (5), NT 10-Q (5), SC 13G (5), 10KSB (4), NT 10-K (4), POS AM (4), SC 13D (4), S-1/A (3), S-8 (3), S-8 POS (3), SB-2/A (3), SC TO-T/A (3), 424B4 (2), D (2), DEFR14A (2), REGDEX (2), S-1 (2), S-3/A (2), SC 14D9 (2), SC 14D9/A (2), SC TO-C (2), SCHEDULE 13G/A (2), 10-K/A (1), 10-KT (1), 15-12G (1), 25-NSE (1), 424B8 (1), 8-A12B (1), 8-A12G (1), ARS (1), CERTNAS (1), DEF 14C (1), NTN 10K (1), PRE 14A (1), PRE 14C (1), S-3 (1), SB-2 (1), SC 14F1 (1), SC TO-T (1)

  • Latest filingsAnnual report (10-K) Mar 13, 2024
    Quarterly report (10-Q) Nov 6, 2024
    Proxy statement (DEF 14A) Apr 25, 2024
    Latest 8-K (8-K) Jan 3, 2025

Sources

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