.jpg)
1 hour ago
3
Article content
VANCOUVER, British Columbia, Aug. 21, 2026 (GLOBE NEWSWIRE) — EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the “Company”) today reported the Company’s consolidated interim financial results for the third quarter ended June 30, 2026.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
All values in thousands and denoted in CAD unless otherwise stated.
Article content
Article content
- Reported Q3 2026 revenue of $3,313 an increase of $569 compared to the same period in the prior year. The increase was primarily driven by the sale of a large- scale machine that had been fully fabricated and held in inventory in prior periods and higher royalties.
- Reported royalties, excluding exclusivity payments (“Base Royalties”), for Q3 2026 of $536, an increase of $104, or 24% relative to the comparable period in the prior year. Royalties increased due to higher product sales and partner production for the quarter.
- Gross margin for the three months ended Q3 2026 was 25% compared to 19% for the three months ended Q3 2025. The increase in margin was primarily attributable to lower fabrication costs resulting from fewer large-scale machines on contract as compared to the prior quarter.
- Reported a decrease in Selling, General & Administrative (“SG&A”) costs (including Research & Development (“R&D”)) of $205 for Q3 2026 relative to the comparable period in the prior year, with the decrease primarily related to lower personnel and third-party commission costs offset by higher professional development fees and tradeshow attendance.
- Reported an Adjusted EBITDA(1) loss of $93 for Q3 2026, a $482 improvement from the prior year, driven by large-scale equipment sale and lower SG&A expenses, including R&D.
Article content
Article content
Consolidated Financial Performance:
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
| ($ ‘000s) | Three months ended June 30, | Nine months ended June 30, | |||||||||||||||
| 2026 | 2025 | Change % | 2026 | 2025 | Change % | ||||||||||||
| Revenues | 3,313 | 2,744 | 21 | % | 6,072 | 7,610 | (20 | %) | |||||||||
| Direct costs | (2,501 | ) | (2,209 | ) | (13 | %) | (4,258 | ) | (5,526 | ) | 23 | % | |||||
| Gross margin | 812 | 535 | 52 | % | 1,814 | 2,084 | (13 | %) | |||||||||
| Operating expenses | |||||||||||||||||
| General and administration | 394 | 532 | (26 | %) | 1,439 | 1,541 | (7 | %) | |||||||||
| Sales and marketing | 439 | 485 | (9 | %) | 1,452 | 1,407 | 3 | % | |||||||||
| Research and development | 367 | 388 | (5 | %) | 1,254 | 1,124 | 12 | % | |||||||||
| 1,200 | 1,405 | (15 | %) | 4,145 | 4,072 | 2 | % | ||||||||||
| Net loss – continuing operations | (465 | ) | (1,162 | ) | 60 | % | (2,722 | ) | (2,462 | ) | (11 | %) | |||||
| Net (loss) income – discontinued operations | – | (9 | ) | 100 | % | (6 | ) | 1,109 | (101 | %) | |||||||
| Adjusted EBITDA(1)loss | (93 | ) | (575 | ) | 84 | % | (1,453 | ) | (1,098 | ) | (32 | %) | |||||
| Loss per share: | |||||||||||||||||
| Continuing operations – basic and diluted | $ | 0.00 | $ | (0.01 | ) | $ | (0.02 | ) | $ | (0.02 | ) | ||||||
| Discontinued operations – basic and diluted | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.01 | |||||||||
| Basic and diluted | $ | 0.00 | $ | (0.01 | ) | $ | (0.02 | ) | $ | (0.01 | ) | ||||||
Article content
| Note: | |
| (1) | Adjusted EBITDA is a non-IFRS financial measure. Refer to the Non-IFRS Financial Measures disclosure below for a reconciliation to the nearest IFRS equivalent. |
Article content
Article content
EnWave’s consolidated interim financial statements and MD&A are available on SEDAR+ at www.sedarplus.ca and on the Company’s website www.enwave.net
Article content
Key Financial Highlights for the Nine Months Ended June 30, 2026 (expressed in 000’s)
Article content
- Reported revenue of $6,072 a decrease of $1,538 relative to the comparable period in the prior year. The decrease was primarily related to fewer machine sales.
- Reported Base Royalties of $1,470, an increase of $139 or 10% relative to the comparative period in the prior year. Reported total royalty revenues of $1,628, an increase of $163 or 10% relative to the comparative period in the prior year. Royalties grew due to increased royalty partners, product sales, partner production, and exclusivity payments.
- Reported a $73 increase in SG&A costs for the nine months ended June 30, 2026, primarily due to higher sales personnel, patent maintenance, legal fees associated with general business activities, and recruitment costs. Prior-year financing-related legal costs were capitalized as part of the transaction.
- Reported an Adjusted EBITDA(1) loss of $1,453 for the nine months ended June 30, 2026, a decrease of $355 from the comparable period in the prior year.
English (US)