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NanoXplore Revenue Rises Despite Cost Headwinds
16 Sep
Summary
- Fourth-quarter revenue grew 7% year over year.
- Product gross margin, excluding tooling, improved.
- Company achieved its first positive cash flow quarter.
NanoXplore's fourth-quarter fiscal 2026 revenue climbed to CAD 33.9 million, a 7% increase from the prior year. This growth was propelled by renewed volumes from PACCAR and Volvo programs, alongside new business wins, counterbalancing a decline in tooling revenue. The company reported its first positive cash flow quarter outside of financing activities or significant tooling repayments, generating CAD 650,000.
Excluding tooling, product gross margin increased to 23.0%, and adjusted EBITDA saw a CAD 1.3 million year-over-year improvement. However, overall adjusted EBITDA declined due to the revenue mix and increased raw material costs exacerbated by the U.S.-Iran conflict. For fiscal 2026, total revenue was CAD 117.3 million, with adjusted EBITDA at CAD 1.93 million. The company ended the fiscal year with CAD 25 million in cash and cash equivalents.
