Hypercharge Reports Third Quarter Fiscal 2026 Results, Record Service Revenue Growth
MWN-AI** Summary
Hypercharge Networks Corp. (TSXV: HC; OTC: HCNWF; FSE: PB7) announced strong financial results for the third quarter of fiscal 2026, showing robust growth in service and subscription revenue amidst ongoing advances toward profitability. In the nine months ending December 31, 2025, the company reported a revenue increase of 33% year-over-year, amounting to $9.7 million. This growth was fueled by higher installation and service-related revenue, alongside an increasing focus on higher-margin offerings like Level 2 charging deployments. Gross margins improved significantly, rising to 34% in the recent quarter, reflecting a favorable mix that prioritizes service and recurring revenue.
Hypercharge delivered 526 new charging ports in the quarter, contributing to a total of over 6,900 ports in operation across North America—a 38% increase from the previous year. The company's registered user base for its mobile app also surged by over 80%, reaching 41,300 users. These figures underscore Hypercharge's growing presence in the electric vehicle (EV) charging market.
The third quarter reported revenue of $2.6 million, down from the previous year due to a high volume of low-margin DC fast charging equipment sales in the comparable period. However, gross profit for the nine months rose by 48% to $2.56 million, resulting in a dramatic reduction of net loss by 59% to approximately $1.28 million as the company continues streamlining operations.
The recent regulatory changes in Canada, including renewed consumer incentives for EVs, are anticipated to further fuel demand. As Hypercharge continues to prioritize capital efficiency and competitive positioning, its evolving business model emphasizes recurring revenue streams, laying a solid foundation for long-term growth and profitability.
MWN-AI** Analysis
Hypercharge Networks Corp. (TSXV: HC) has demonstrated impressive progress in its third quarter fiscal 2026 results, particularly in service and subscription revenue. The Company recorded a remarkable 33% year-to-date revenue growth, reaching $9.7 million, primarily driven by strategic positioning toward installation and subscription services, a move that enhances margins and stabilizes revenue streams.
The gross margin improved significantly to 34% for the quarter, compared to 21% a year prior, showcasing the effectiveness of the Company's transition towards a higher mix of service-oriented offerings. Investors should note that this shift is essential for Hypercharge's long-term profitability objectives. This trend indicates strong operational momentum as the Company capitalizes on the growing demand for Level 2 charging deployments, which have higher margins compared to traditional DC fast charging solutions.
While quarterly revenue showed a drop to $2.6 million, attributed to volatile equipment deliveries in the previous year, the Company is better positioned now to mitigate such fluctuations through a diversified service approach. The robust increase in registered users, up 80% year-over-year to 41,300, signals a growing user base likely to contribute to recurring revenue over time.
Furthermore, Canada’s recent incentives aimed at improving EV affordability position Hypercharge to capture incremental demand. This aligns with the broader trend within the EV sector, presenting ample growth opportunities.
In summary, despite the quarterly dip, Hypercharge's strong trajectory in service and gross margin improvement signifies potential for enhanced performance moving forward. Investors should closely monitor these developments and consider the Company as a strategic bet in the evolving EV infrastructure arena, reinforcing its competitive position while striving for operating break-even.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Hypercharge delivered record service and subscription revenue in the quarter and improved gross margin through a stronger mix of service and recurring revenue, while continuing to expand its network footprint and registered user base.
- 33% Year-to-Date Revenue Growth
- Delivered 526 New Charging Ports
- Gross Margin continues positive trend up to 27% for the 9 months ended December 31, 2025, and posts a high of 34% for the three months ended, highlighting the potential of the Company’s revenue and margin mix
VANCOUVER, British Columbia, March 02, 2026 (GLOBE NEWSWIRE) -- Hypercharge Networks Corp. (TSXV: HC; OTC: HCNWF; FSE: PB7) (the “Company” or “Hypercharge”), a leading, smart electric vehicle (EV) charging solutions provider and network operator, is announcing the release of its unaudited financial results for the three and nine months ended December 31, 2025, and related management’s discussion and analysis. All dollar figures are in Canadian dollars, unless otherwise stated.
“Hypercharge reported third quarter fiscal 2026 results demonstrating continued revenue growth, expanding gross margins, and meaningful loss reduction as the Company advances toward profitability.
Revenue for the nine months ended December 31, 2025, increased to $9.7 million, driven by growth in installation, subscription, and other service-related revenue streams. Year-to-date revenue increased 33% compared to the prior period, supported by a mix that increasingly favours service and subscription revenue, including installation, and higher-margin Level 2 deployments, which supported improved margin performance and continued progress toward profitability.
Revenue in the quarter was $2.6 million. The year-over-year comparison reflects elevated DC fast charging equipment deliveries in the prior-year period, which are typically lower margin than Level 2 and service-led deployments.
Gross margin improved to 34% for the three months ended December 31, 2025, reflecting a favourable revenue mix during the quarter, including increased contribution from service and Level 2 charging deployments, consistent with the Company’s long-term strategy to expand higher-margin offerings.
Charging station deliveries continued strong across our core segments, with 526 charging ports delivered in the quarter and the Hypercharge app growing to more than 41,300 registered users, up over 80% year-over-year.
Work also continued on expanding programs that help customers lower electrification costs and deepen the value of the Hypercharge Network over time. Our professional services continued to scale through project design, installation management, and service and warranty offerings that support customers from planning through long-term operations. Alongside this, carbon credit management continued to advance under Canada’s Clean Fuel Regulations, with proceeds recorded and managed in line with reinvestment requirements that support eligible infrastructure and initiatives that reduce the cost of EV ownership.
The market continues to evolve, with sales cycles and competitive pricing pressure in some areas, alongside new policy developments that are expected to support demand. In February 2026, Canada announced new measures intended to improve EV affordability, including the return of consumer incentives and additional initiatives aimed at supporting domestic EV adoption and infrastructure investment. These developments are expected to provide incremental support for EV demand through 2026 and beyond. The Company remains focused on disciplined execution, capital efficiency, and strengthening its competitive position as the market evolves.
Our results this quarter demonstrate the strength of our evolving business model. As service and recurring revenue represent a larger portion of total revenue, we are seeing the potential for margin expansion and improving operating leverage. While quarterly results may vary based on project mix, this quarter highlights the impact of higher-margin service and Level 2 deployments. With the launch of Hypercorp Energy Solutions, the Company's new electrification offering, and continued network growth, we are building a diversified electrification platform positioned for long-term value creation. The Company continues progressing toward operating break-even.”
- David Bibby, President and CEO of Hypercharge
Business and Pipeline Highlights (for the three and nine months ended December 31, 2025):
- Record Service and Subscription Revenue: The Company achieved record service and subscription revenue of $1,180,520 for the three months ended December 31, 2025. This represents an increase of $985,516 (505%) compared to the three months ended December 31, 2024, driven by a significant increase in installation revenue.
- Gross Margin Growth: The Company reported gross margin of 34% for the three months ended December 31, 2025, an increase of 13 percentage points compared to 21% for the three months ended December 31, 2024, driven by a higher mix of service and recurring revenue, increased Level 2 charging equipment volume, and improved revenue mix toward higher-margin deployments.
- Gross Profit Growth: The Company reported gross profit of $2,563,637 for the nine months ended December 31, 2025, an increase of $828,104 (48%) compared to the nine months ended December 31, 2024. The improvement was primarily driven by increased sales volume of EV charging equipment, greater contribution from other revenues, and higher service revenue.
- Loss Reduction: The Company’s net and comprehensive loss for the nine months ended December 31, 2025, totalled $(1,276,800), reflecting an improvement of $1,819,725 (59%) compared to the nine months ended December 31, 2024. The reduction in loss reflects disciplined expense management and the adoption of technologies to streamline operations and lower costs.
- Charging Ports: Surpassed 6,900 charging ports sold across Canada and the United States, an increase of over 38% compared to December 31, 2024.
- Registered Users: Added over 18,300 new users since December 31, 2024, bringing the Hypercharge mobile app to more than 41,300 registered users as of December 31, 2025, an 80% increase year-over-year.
- Board of Directors Expansion: Appointed Tony Geheran to the Board effective October 10, 2025, bringing more than three decades of large-scale operations and digital transformation leadership, including senior experience as Chief Operations Officer at TELUS.
- Chief Operating Officer Appointment: Appointed Chris Koch as Chief Operating Officer on December 19, 2025, to oversee sales, fulfillment, and professional services, while supporting growth across Eastern Canada and the United States and advancing strategic partnerships.
- Carbon Credit Program: The Company advanced its participation in carbon credit markets, supporting a future revenue stream intended to help customers offset the cost of electrification.
- Financing: In November 2025, the Company closed a brokered private placement for gross proceeds of $3,750,000, strengthening the Company’s balance sheet and enabling investment in operational growth and additional sales capabilities.
Financial Highlights (for the nine months ended December 31, 2025):
The Company recognized nine months revenue of $9,658,144, an increase of $2,402,501 (33%) compared to the nine months ended December 31, 2024.
Gross profit for the nine months was $2,563,637, an increase of $828,104 (48%) compared to the nine months ended December 31, 2024. Gross profit percentage was 27% compared to 24% in the prior year, reflecting the Company’s product and revenue mix, including a higher contribution from installation and service-related revenue.
Operating expenses totaled $3,926,521 for the nine months ended December 31, 2025, a decrease of $927,941 (19%) from the prior year period, driven primarily by lower general and administrative expenses, partially offset by higher sales and marketing expenses to support growth.
Net and comprehensive loss for the nine months ended December 31, 2025, improved 59% to $(1,276,800), or $(0.01) per basic and diluted share, compared to a net and comprehensive loss of $(3,096,525), or $(0.04) per basic and diluted share, during the nine months ended December 31, 2024.
Financial Highlights (for the three months ended December 31, 2025):
The Company recognized quarterly revenue of $2,580,946, a decrease of $2,398,005 (48%) compared to the three months ended December 31, 2024. The year-over-year change primarily reflects the timing of DC fast charging equipment deliveries in the prior-year comparative period, which was elevated relative to typical quarterly volumes.
Gross profit for the quarter was $865,723, a decrease of $203,201 (19%) compared to $1,068,924 in the same period last year. Gross profit percentage increased to 34% compared to 21% in the prior year, reflecting a greater mix of higher-margin installation and service-related revenue relative to EV charging equipment sales.
Operating expenses totaled $1,378,882 for the three months ended December 31, 2025, a marginal decrease of $30,061 (2%) from the prior year period. The decrease was primarily driven by lower general and administrative expenses and reduced research and development costs, partially offset by higher sales and marketing expenses to support growth.
Net and comprehensive loss for the three months ended December 31, 2025, increased 26% to $(448,036), or $(0.00) per basic and diluted share, compared to a net and comprehensive loss of $(356,526), or $(0.00) per basic and diluted share, during the three months ended December 31, 2024.
Summary of Key Financial Measures:
A summary of selected financial information for the three and nine months ended December 31, 2025, and December 31, 2024, is as follows:
| Three months ended December 31, 2025 | Three months ended December 31, 2024 | Nine months ended December 31, 2025 | Nine months ended December 31, 2024 | |
| Revenue | $2,580,946 | $4,978,951 | $9,658,144 | $7,255,643 |
| Net and comprehensive loss | $(448,036) | $(356,526) | $(1,276,800) | $(3,096,525) |
| Basic and diluted loss per share | $(0.00) | $(0.00) | $(0.01) | $(0.04) |
Condensed Consolidated Financial Statements:
| Three months | Three months | Nine months | Nine months | ||||||||||
| ended | ended | ended | ended | ||||||||||
| December 31, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 | ||||||||||
| Revenue | $ | 2,580,946 | $ | 4,978,951 | $ | 9,658,144 | $ | 7,255,643 | |||||
| Cost of sales | (1,715,223 | ) | (3,910,027 | ) | (7,094,507 | ) | (5,520,110 | ) | |||||
| Gross profit | 865,723 | 1,068,924 | 2,563,637 | 1,735,533 | |||||||||
| Operating expenses | |||||||||||||
| General and administrative | 630,678 | 835,598 | 1,952,600 | 3,077,668 | |||||||||
| Sales and marketing | 552,177 | 323,531 | 1,373,663 | 1,149,321 | |||||||||
| Research and development | 196,027 | 249,814 | 600,258 | 627,473 | |||||||||
| Total operating expenses | 1,378,882 | 1,408,943 | 3,926,521 | 4,854,462 | |||||||||
| Operating loss | (513,159 | ) | (340,019 | ) | (1,362,884 | ) | (3,118,929 | ) | |||||
| Other expenses (income) | |||||||||||||
| Foreign exchange (gain) loss | 24,803 | 4,804 | 28,176 | 7,810 | |||||||||
| Interest income, net | (9,947 | ) | (5,210 | ) | (14,865 | ) | (45,459 | ) | |||||
| Other income | (73,386 | ) | (386 | ) | (74,574 | ) | (1,339 | ) | |||||
| Total other expenses (income) | (58,530 | ) | (792 | ) | (61,263 | ) | (38,988 | ) | |||||
| Net loss | (454,629 | ) | (339,227 | ) | (1,301,621 | ) | (3,079,941 | ) | |||||
| Other comprehensive income: | |||||||||||||
| Cumulative translation reserve | 6,593 | (17,299 | ) | 24,821 | (16,584 | ) | |||||||
| Comprehensive loss | $ | (448,036 | ) | $ | (356,526 | ) | $ | (1,276,800 | ) | $ | (3,096,525 | ) | |
| Basic and diluted loss per share | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) | $ | (0.04 | ) | |
| Weighted average number of shares outstanding – basic and diluted | 124,672,731 | 70,705,205 | 107,795,543 | 70,575,806 | |||||||||
For more information, please refer to the Company’s management’s discussion and analysis for the three and nine months ended December 31, 2025, and the Company’s unaudited condensed consolidated interim financial statements for the three and nine months ended December 31, 2025. These documents are available on the Company’s website at https://hypercharge.com/investors/, and under the Company’s SEDAR+ profile at https://www.sedarplus.ca/.
About Hypercharge
Hypercharge Networks Corp. (TSXV: HC; OTC: HCNWF; FSE: PB7) is a leading provider of smart electric vehicle (EV) charging solutions for residential and commercial buildings, fleet operations, and other rapidly growing sectors. Driven by its mission to accelerate EV adoption and enable the shift towards a carbon neutral economy, Hypercharge is committed to offering seamless, simple solutions including industry-leading hardware, innovative and integrated software, and comprehensive services, backed by a robust network of public and private charging stations. Learn more: https://hypercharge.com/.
On behalf of the Company,
Hypercharge Networks Corp.
David Bibby, President & CEO
Contact
Media & Investor Relations:
Kyle Kingsnorth, Head of Marketing
kyle.kingsnorth@hypercharge.com | +1 (888) 320-2633
Non-GAAP and Other Financial Measures
This news release makes reference to certain non-GAAP financial measures, including "gross margin" (calculated as gross profit divided by revenue) and "gross profit" (calculated as revenue less cost of sales). These measures are not recognized measures under International Financial Reporting Standards ("IFRS") and do not have a standardized meaning prescribed by IFRS. Therefore, these measures may not be comparable to similar measures presented by other issuers. Management believes these non-GAAP financial measures provide useful supplemental information to investors regarding the Company's financial performance and are used by management to assess the Company's operating results. Non-GAAP financial measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For a reconciliation of these non-GAAP financial measures to the most directly comparable IFRS measures, please refer to the Company's management's discussion and analysis for the three and nine months ended December 31, 2025, available on SEDAR+ at https://www.sedarplus.ca/.
Forward-Looking Statements
This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements regarding growth, commercial developments, delivery timelines and revenue recognition. Forward-looking statements are often identified by terms such as “may”, “could”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects” and similar expressions which are intended to identify forward-looking statements. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
FAQ**
How has Hypercharge Networks Corp. (HCNWF) managed to achieve a 505% increase in service and subscription revenue for the quarter, and what factors contributed to this growth?
What strategies is Hypercharge Networks Corp. (HCNWF) implementing to continue expanding its network footprint and registered user base, now exceeding 41,300?
Given the 3year-to-date revenue growth reported by Hypercharge Networks Corp. (HCNWF), how does the company plan to sustain this momentum moving forward?
With gross margins improving to 3for the three months ended December 31, 2025, what does Hypercharge Networks Corp. (HCNWF) identify as key drivers behind this positive trend?
**MWN-AI FAQ is based on asking OpenAI questions about Hypercharge Networks (OTC: HCNWF).
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