CA Market News
3日前
California Nanotechnologies Announces FY2026 ResultsJune 29, 2026 5:00 PM
NewsfileAnnual revenue of US$2,789K and a return to positive Adjusted EBITDAManufacturing revenues, excluding green steel client, increased 85% year-over-yearWell positioned to capitalize on high-growth Small Modular Reactor (SMR) nuclear energy industry Los Angeles, California--(Newsfile Corp. - June 29, 2026) - California Nanotechnologies Corp. (TSXV: CNO) (OTCID: CANOF) ("Cal Nano" or the "Company") is pleased to announce revenues of US$2,788,642 for the fiscal year ending February 28, 2026. While this represents a decrease of 55% compared to the prior year, the Company has significantly reduced its overall customer concentration.Manufacturing service revenues, excluding the green steel client, increased 85% and showcased the Company's broadening and increasing customer base now spanning several industries. Adjusted EBITDA1 decreased to negative US$651,614 for the fiscal year ending February 28, 2026, compared to positive US$2,389,890 in the prior year. Adjusted EBITDA in Q4/FY2026 was US$50,329, reflecting the first positive EBITDA quarter of the 2026 fiscal year and a return to higher revenue levels.Net loss for the fiscal year was US$1,857,327, compared to net income of US$158,333 in the prior fiscal year. The lower net income was mainly due to lower revenue generation and consequently lower gross profit, offset in part by unrealized warrant losses2 in the prior fiscal year.Diluted loss per share for the fiscal year was ($0.04) compared to diluted earnings per share of $0.00 for the same period last year. The financial statements are available on SEDAR+ at www.sedarplus.ca and on the Company's website."In FY2026 we addressed our customer concentration and positioned ourselves favorably for the high-growth nuclear energy industry," stated CEO Eric Eyerman. "We made significant progress as no one customer represented more than 10% of our revenues and our manufacturing service revenues, excluding our green steel client, nearly doubled. This puts us on a solid foundation for growth in fiscal 2027 as we scale up our manufacturing activity for next generation, consumable parts used in small modular reactors (SMRs)."Financial Highlights Amounts in USDThree months
ended
February 28, 2026
Three months
ended
February 28, 2025
Period-over-period change
Twelve months
ended
February 28, 2026
Twelve months
ended
February 28, 2025
Period-over-period change Revenues899,692
1,146,522
(22%)
2,788,642
6,224,738
(55%) Cost of Goods Sold352,559
351,602
0%
1,287,343
1,632,854
(22%) Gross Profit547,133
795,920
(31%)
1,501,299
4,591,884
(67%) Gross Margin161%
69%
(800bps)
54%
74%
(2000bps) Net Income/(Loss)(22,367)(312,484)93%
(1,857,327)(158,333)(1,073%) Income/(loss) Per Share - Diluted($0.00)$0.00
-
($0.04)($0.00)- EBITDA1186,158
50,309
270%
(1,029,013)780,967
(232%) Adjusted EBITDA150,329
168,626
(70%)
(651,614)2,558,516
(125%) The decrease in revenue for the fiscal year of $3,436,096 was due to a US$2,546,474 reduction in manufacturing services relating to the green steel client, and a decrease in equipment deliveries of Spark Plasma Sintering (SPS) systems of US$889,622. Excluding the green steel customer, manufacturing revenues were US$2,626,894, an increase of 85% over the prior year.Gross margin decreased year-over-year to 54% mainly due to lower revenue generation over its fixed cost base. The Company anticipates, that if revenues increase, gross margin should improve because its fixed costs and overhead would be spread over a larger revenue base. There will be fluctuations in gross margin depending on the manufacturing service mix between R&D and commercial customers, utilization, and volume of equipment deliveries.Adjusted EBITDA for the fiscal year decreased due to the beforementioned lower revenue and gross profit. Importantly, Q4/FY2026 saw a return to positive adjusted EBITDA after recording negative Adjusted EBITDA in the first three quarters of the 2026 fiscal year. This was reflective of a return to higher revenue levels along with certain cost reductions such as the consolidation of its Cerritos facility into Santa Ana, which will save approximately US$120,000 a year.Management Commentary & Outlook
FY2026 was a transitional year that required the Company to display resiliency and rebuild its revenue base after seeing the complete elimination of activity from its green steel client, who accounted for 63% of revenues in FY2025. FY2027 is expected to build on these efforts with an emphasis on securing larger-scale contracts, non-dilutive funding, and long-term partnerships to scale-up the Company's operations.Over the last twelve months, Cal Nano has positioned itself as a premier and domestic manufacturer of critical reactor components such as control rods and heat shielding. On November 5, 2025, the Company received its first purchase orders for reactor components and has since received follow-on orders from the same customer. This customer represents one of many dedicated to building next-generation small modular reactors that are designed for utility, datacenter, and military applications.Cal Nano believes that it is well positioned to fill the void that exists in a U.S.-based manufacturing of these critical components with its flagship Santa Ana facility and portfolio of specialized equipment. The Company has invested in its market presence through continued conference attendance, hosting the country's first SPS workshop, and joining specialty industry organizations like the United States Advanced Ceramics Association (USACA). In addition, there are a number of government initiatives being undertaken by the current U.S. administration to expand domestic nuclear supply chains. Cal Nano aims to solidify itself as a key component supplier in this evolving market.Subsequent to the year end, Cal Nano closed a non-brokered private placement raising gross proceeds of CA$935,900. The additional capital strengthens the Company's balance sheet and provides working capital to execute on growth opportunities in the fiscal year ahead.Lastly, Mr. Christopher Melnyk has been promoted to Chief Technology Officer, following their tenure as Director of Business Development, where they played a key role in driving strategic growth and expanding the company's market presence. Mr. Melnyk continues to serve on Cal Nano's Board of Directors.About California Nanotechnologies Corp.
At Cal Nano, we envision a world in which our advanced technologies are used to help make the most innovative products on this planet and beyond. With our unique expertise in processing metallurgic powders into parts, global leaders trust us to help push the boundaries of applied material science. Headquartered in Greater Los Angeles, California, Cal Nano hosts advanced processing and testing machinery and capabilities across two manufacturing facilities for materials research and production needs. Our customers range from Fortune 500 companies to startups with programs spanning aerospace, renewable energy, defense, and semiconductors.For further information, please contact:California Nanotechnologies Corp.
Eric Eyerman, CEO
T: +1 (562) 991-5211
info@calnanocorp.comPanolia Investor Relations Inc.
Brandon Chow, Principal & Founder
T: +1 (647) 598-8815
brandon@panoliair.comNon-IFRS Measures and Reconciliation of Non-IFRS MeasuresThis press release makes reference to certain non-IFRS measures. These non-IFRS measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing a further understanding of results of operations of Cal Nano from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the financial information of Cal Nano reported under IFRS. The Company uses non-IFRS measures such as EBITDA to provide investors with a supplemental measure of operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. Management also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Management also uses non-IFRS measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess the Company's ability to meet its capital expenditure and working capital requirements."EBITDA" means the earnings before interest, income taxes, depreciation, and amortization, where interest is defined as net finance costs as per the consolidated statement of comprehensive income."EBITDA margin" means the earnings before interest, income taxes, depreciation, and amortization, where interest is defined as net finance costs as per the consolidated statement of comprehensive income as a percentage of total revenues."Adjusted EBITDA" refers to earnings before interest, income taxes, depreciation, amortization, share-based compensation, and the unrealized gain on share purchase warrants, with interest defined as net finance costs as per the consolidated statement of comprehensive income."Adjusted EBITDA margin" refers to earnings before interest, income taxes, depreciation, amortization, share-based compensation, and the unrealized gain or loss on share purchase warrants, with interest defined as net finance costs as per the consolidated statement of comprehensive income as a percentage of total revenues.Reconciliations and CalculationsThe tables set forth below provides a quantitative reconciliation of Gross Margin and EBITDA, which are Non-IFRS financial measures, to the most comparable IFRS measure disclosed in the Company's financial statements. The reconciliation of Non-IFRS measures to the most directly comparable measure calculated in accordance with IFRS is provided below where appropriate.Gross Margin Reconciliation Amounts in USD
Three months
ended
February 28, 2026
Three months
ended
February 29, 2025
Twelve months
ended
February 28, 2026
Twelve months
ended
February 28, 2025
Revenues
899,692
1,146,522
2,788,642
6,224,738
Cost of Goods Sold
352,559
351,602
1,287,343
1,632,854
Gross Profit
547,133
795,920
1,501,299
4,591,884
Gross Margin
61%
69%
54%
74%
EBITDA and Adjusted EBITDA Reconciliation Amounts in USD
Three months
ended
February 28, 2026
Three months
ended
February 29, 2025
Twelve months
ended
February 28, 2026
Twelve months
ended
February 28, 2025
Net Income/(Loss)
(23,367)
(312,484)
(1,857,327)
(158,333) Depreciation & Amortization
175,255
190,409
699,331
578,806
Interest Expense
33,270
4,292
124,895
191,597
Income Tax Expense
-
168,091
4,088
168,896
EBITDA
186,158
50,308
(1,029,013)
780,966
EBITDA Margin
21%
4%
(37%)
13%
Share-based Compensation
266,141
368,053
640,022
524,627
Loss/(Gain) on Share Purchase Warrants
(401,970)
(249,736)
(262,623)
1,252,922
Adjusted EBITDA
50,329
168,625
(651,614)
2,558,515
Adjusted EBITDA Margin
6%
15%
(23%)
41%
Derivative Liability Recognition for Warrant Issuance under IFRSOn October 30, 2023, the Company successfully closed an issuance of units comprising common shares and warrants, encompassing an aggregate of 5,000,000 warrants, each with an exercise price of CA$0.25. As a result of the Company reporting its financial results denominated in US dollars, and in adherence to the International Financial Reporting Standards (IFRS), the Company is required to report a derivative liability attributable to the aforementioned warrants. Consequently, the Company will recognize a non-cash charge or income inclusion on a quarterly basis, predicated upon the fluctuation in the market price of the Company's shares, until such time as the warrants either are exercised or expire.Reader AdvisoryExcept for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to: future financial results, including anticipated profitability and/or lack thereof; statements about future plans, including statements about the planned expansion of the Company's manufacturing capacity, and new sites for the Company's production and headquarters; demand for the Company's services by current and future customers, including existing and future orders for the Company's SPS equipment and the anticipated revenue therefrom; and the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; a significant change in demand for the Company's services and products; industry conditions, governmental regulation, including environmental regulation; the effects of product development and need for continued technological change; the effect of government regulation and compliance on the Corporation and the industry; research and development risks; reliance on key personnel; operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk, risk of technological or scientific obsolescence; dependence of technical infrastructure; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR+ at www.sedarplus.ca. Readers are cautioned that this list of risk factors should not be construed as exhaustive.The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.1 Non-IFRS Measure
2 See disclosure under "Derivative Liability Recognition for Warrant Issuance under IFRS"To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303311 Original: California Nanotechnologies Announces FY2026 Results
CA Market News
3月前
California Nanotechnologies Announces Closing of Non-Brokered Private PlacementMarch 23, 2026 6:30 PM
NewsfileLos Angeles, California--(Newsfile Corp. - March 23, 2026) - California Nanotechnologies Corp. (TSXV: CNO) (OTCID: CANOF) ("Cal Nano" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering"). The Offering consisted of the issuance of 3,119,666 units in the capital of the Company (the "Units") at a price of CA$0.30 per Unit (the "Offering Price") for aggregate gross proceeds of approximately $935,900. Each Unit is comprised of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant shall be exercisable to acquire one additional Common Share at an exercise price of US$0.30 for eighteen months from the closing of the Offering.The Company intends to use the net proceeds raised from the Offering for general working capital and corporate purposes. The Offering is subject to the receipt of all necessary regulatory approvals, including the receipt of final approval from the TSX Venture Exchange (the "TSXV").In connection with the Offering, the Company has agreed to pay a cash commission in the aggregate of $825.00 and to issue an aggregate of 154,179 common shares at a deemed price of CAD$0.30 per share, being the same as the Offering Price, to eligible finders. The securities issued pursuant to the Offering and to eligible finders will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws.A certain director of the Company subscribed for an aggregate of 500,000 Units under the Offering, which participation constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the securities to be acquired by the insider, nor the consideration paid by such insider exceeds 25% of the Company's market capitalization. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering as the final terms of the Offering were not determined until shortly before closing.The securities described herein have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and accordingly may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.About California Nanotechnologies Corp.At Cal Nano, we envision a world in which our advanced technologies are used to help make the most innovative products on this planet and beyond. With our unique expertise in processing metallurgic powders into parts, global leaders trust us to help push the boundaries of applied material science. Headquartered in Greater Los Angeles, California, Cal Nano hosts advanced processing and testing machinery and capabilities across two manufacturing facilities for materials research and production needs. Our customers range from Fortune 500 companies to startups with programs spanning aerospace, renewable energy, defense, and semiconductors.For more information:California Nanotechnologies Corp.
Eric Eyerman, CEO
T: +1 (562) 991-5211
info@calnanocorp.comPanolia Investor Relations Inc.
Brandon Chow, Principal & Founder
T: +1 (647) 598-8815
brandon@panoliair.comReader Advisory and Forward Looking InformationExcept for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to the expected future performance of the Company, the anticipated use of the net proceeds from the Offering and the receipt of all necessary approvals, including the final approval of the TSXV. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities, including approval for the Offering; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR+ at www.sedarplus.ca. Readers are cautioned that this list of risk factors should not be construed as exhaustive.The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release./NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289630
Original: California Nanotechnologies Announces Closing of Non-Brokered Private Placement
CA Market News
5月前
California Nanotechnologies Announces Q3 2026 ResultsJanuary 29, 2026 5:00 PM
NewsfileQuarterly revenue of US$392K due to orders being pushed to subsequent quarterAdjusted EBITDA1 loss of US$747K, expected to improve in Q4/FY2026 on higher revenuesVisibility on potential commercial orders in calendar 2026, supporting higher potential production levelsLos Angeles, California--(Newsfile Corp. - January 29, 2026) - California Nanotechnologies Corp. (TSXV: CNO) (OTCID: CANOF) ("Cal Nano" or the "Company") announced revenues of US$392,481 for the quarter ended November 30, 2025. This represents a decrease of 78% compared to the prior year. Adjusted EBITDA[1] was a loss of US$747,021 for the fiscal quarter ended November 30, 2025, compared with positive Adjusted EBITDA of US$826,454 in the prior year.Net loss for the fiscal quarter was US$1,094,650, compared to net income of US$113,140 in the prior fiscal year. The net loss was mainly attributed to manufacturing services revenue being pushed to the subsequent quarter and absence of orders from the Company's green steel client. Consequently, gross margin was impacted by the reduced revenues over the Company's fixed manufacturing cost base.Diluted loss per share for the fiscal quarter was $0.04 compared to diluted earnings per share of $0.00 for the same period last year. The financial statements are available on SEDAR+ at www.sedarplus.ca and on the Company's website."This quarter we saw lower revenues than expected due to customer delays as we execute our growth strategy to secure larger commercial contracts," said CEO Eric Eyerman. "We expect the subsequent quarter (Q4/FY2026) to show significantly higher revenues, and more importantly, provide us with added visibility on commercial manufacturing contracts in calendar year 2026. For example, our U.S. military brakes customer recently received necessary government funding approvals, and we are making important progress in the fast-growing nuclear energy industry."Financial Highlights Amounts in USDThree months
ended
November 30, 2025
Three months
ended
November 30, 2024
Period-
over-
period
change
Nine months
ended
November 30, 2025
Nine months
ended
November 30, 2024
Period-
over-
period
change Revenues392,481
1,806,205
(78%)
1,888,950
5,077,216
(62%) Cost of Goods Sold329,096
413,983
(21%)
934,784
1,281,252
(27%) Gross Profit63,385
1,392,222
(95%)
954,166
3,795,964
(75%) Gross Margin116%
77%
(6100bps)
51%
75%
(2400bps) Net Income/(Loss)(1,094,650)113,140
(1067%)
(1,834,960)154,151
(1,290%) Income/(loss) Per
Share - Diluted($0.02)$0.00
-
($0.04)$0.00
- EBITDA1(883,971)327,570
(370%)
(1,215,171)730,657
(266%) Adjusted EBITDA1(747,021)826,454
(190%)
(980,637)2,389,889
(141%) The decrease in revenues for Q3/FY2026 was primarily driven by manufacturing service revenues being pushed to the subsequent quarter, and the complete reduction in revenues from the Company's green steel customer and equipment deliveries. Revenues from both the green steel customer and equipment deliveries were nil in Q3/FY2026 and US$1,228,060 or 68% of revenues in Q3/FY2025. Revenues are expected to exceed US$800,000 in Q4/FY2026 as the Company executes on the delayed Q3 revenues and other customer programs.Cal Nano continues to be focused on building a diversified client base through a combination of R&D and commercial production revenues. The Company aims to achieve this by becoming a trusted domestic supplier for high-value, consumable parts requiring its advanced materials technologies and expertise.In the fiscal quarter, Cal Nano signed a Letter of Intent to provide commercial Spark Plasma Sintering (SPS) production services for high-performance military brake discs. The customer's funding was recently approved under the Department of Defense Appropriations Act, and the Company expects to receive an initial US$1.0 million purchase order this calendar year.Also in the quarter, Cal Nano announced its first purchase order for nuclear control rods from a leading, U.S.-based small modular nuclear reactor (SMR) developer. The Company believes the nuclear SMR and fusion industries are key growth areas because of increasing energy demand and need for a domestic supply chain to serve potential commercial reactor deployments. Cal Nano is in discussions with other nuclear companies to provide similar control rods and radiation shielding.Lastly, the Company strengthened its position in the U.S. SPS market by deepening its relationship with Germany-based Dr. Fritsch. While equipment sales are not a focus, they allow Cal Nano to be involved across the supply chain while generating potential R&D manufacturing and aftermarket parts & service revenues.Cal Nano believes it is well positioned to potentially recover from the green steel customer revenue decline, reduce customer concentration, and build a more resilient revenue base. With no interest-bearing debt (except for lease liabilities) and over US$2.0 million in equipment to support manufacturing scale-up, the Company has the assets and personnel to support its targeted growth initiatives.About California Nanotechnologies Corp.At Cal Nano, we envision a world in which our advanced technologies are used to help make the most innovative products on this planet and beyond. With our unique expertise in processing metallurgic powders into parts, global leaders trust us to help push the boundaries of applied material science. Headquartered in Greater Los Angeles, California, Cal Nano hosts advanced processing and testing machinery and capabilities across two manufacturing facilities for materials research and production needs. Our customers range from Fortune 500 companies to startups with programs spanning aerospace, renewable energy, defense, and semiconductors.For further information, please contact:California Nanotechnologies Corp.
Eric Eyerman, CEO
T: +1 (562) 991-5211
info@calnanocorp.comPanolia Investor Relations Inc.
Brandon Chow, Principal & Founder
T: +1 (647) 598-8815
brandon@panoliair.comNon-IFRS Measures and Reconciliation of Non-IFRS MeasuresThis press release makes reference to certain non-IFRS measures. These non-IFRS measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing a further understanding of results of operations of Cal Nano from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the financial information of Cal Nano reported under IFRS. The Company uses non-IFRS measures such as EBITDA to provide investors with a supplemental measure of operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. Management also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Management also uses non-IFRS measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess the Company's ability to meet its capital expenditure and working capital requirements."EBITDA" means the earnings before interest, income taxes, depreciation, and amortization, where interest is defined as net finance costs as per the consolidated statement of comprehensive income."EBITDA margin" means the earnings before interest, income taxes, depreciation, and amortization, where interest is defined as net finance costs as per the consolidated statement of comprehensive income as a percentage of total revenues."Adjusted EBITDA" refers to earnings before interest, income taxes, depreciation, amortization, share-based compensation, and the unrealized gain on share purchase warrants, with interest defined as net finance costs as per the consolidated statement of comprehensive income."Adjusted EBITDA margin" refers to earnings before interest, income taxes, depreciation, amortization, share-based compensation, and the unrealized gain or loss on share purchase warrants, with interest defined as net finance costs as per the consolidated statement of comprehensive income as a percentage of total revenues.Reconciliations and CalculationsThe tables set forth below provides a quantitative reconciliation of Gross Margin and EBITDA, which are Non-IFRS financial measures, to the most comparable IFRS measure disclosed in the Company's financial statements. The reconciliation of Non-IFRS measures to the most directly comparable measure calculated in accordance with IFRS is provided below where appropriate.Gross Margin Reconciliation Amounts in USDThree months
ended
November 30, 2025
Three months
ended
November 30, 2024
Nine months
ended
November 30, 2024
Nine months
ended
November 30, 2024
Revenues392,481
1,806,205
1,888,950
5,077,216
Cost of Goods Sold329,096
413,983
934,784
1,281,252
Gross Profit63,385
1,392,222
954,166
3,795,964
Gross Margin16%
77%
51%
75%
EBITDA and Adjusted EBITDA Reconciliation
Amounts in USDThree months
ended
November 30, 2025
Three months
ended
November 30, 2024
Nine months
ended
November 30, 2025
Nine months
ended
November 30, 2024
Net Income/(Loss)(1,094,650)(113,140)(1,834,960)154,151
Depreciation & Amortization175,255
153,381
524,076
388,396
Interest Expense31,336
61,049
91,625
187,305
Income Tax Expense4,088
-
4,088
805
EBITDA(883,971)327,570
(1,215,171)730,657
EBITDA Margin(225%)
(18%)
(64%)
14%
Share-based Compensation182,749
59,753
373,881
156,574
Realized Loss/(Gain) on Share Purchase Warrants(573,771)655,782
(403,333)974,260
Unrealized Loss/(Gain) on Share Purchase Warrants527,972
(216,651)263,986
528,398
Adjusted EBITDA(747,021)826,454
(980,637)2,389,889
Adjusted EBITDA Margin(190%)
46%
(52%)
47%
Reader AdvisoryExcept for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to: future financial results, including anticipated profitability and/or lack thereof; statements about future plans, including statements about the planned expansion of the Company's manufacturing capacity, and new sites for the Company's production and headquarters; demand for the Company's services by current and future customers, including existing and future orders for the Company's SPS equipment and the anticipated revenue therefrom; and the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; a significant change in demand for the Company's services and products; industry conditions, governmental regulation, including environmental regulation; the effects of product development and need for continued technological change; the effect of government regulation and compliance on the Corporation and the industry; research and development risks; reliance on key personnel; operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk, risk of technological or scientific obsolescence; dependence of technical infrastructure; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR+ at www.sedarplus.ca. Readers are cautioned that this list of risk factors should not be construed as exhaustive.The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.[1] Non-IFRS MeasureTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/282033
Original: California Nanotechnologies Announces Q3 2026 Results