EnWave Corporation (TSX-V: ENW) reported an increase in revenues for the first quarter of fiscal 2026.
The company reported revenue C$1.6 million for the first quarter of fiscal 2026, representing an increase of C$0.44 million or 36% from the comparable period in the prior year. The growth reflects large-scale machine sales and increased royalties. During the period, the company commissioned one large-scale machine and completed the fabrication of two large-scale machines on contract.
Net loss from continuing operations was C$1.11 million or C$C0.01 per share in Q1, versus a loss of C$0.9 million in the same period of fiscal 2025. Gross margin for the quarter was 37%, compared to 29% for the three months ended Q1 2025. The improvement mainly reflects higher royalties and the production mix of large machines at various stages of commissioning and fabrication.
Adjusted EBITDA for the quarter was a loss of C$0.58 million, slightly higher than in the comparable period in the prior year. During the quarter, EnWave signed a CLA with Gowen Gumlu Grower’s Association in North Queensland, Australia.
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