Avante reports 24% recurring revenue growth, 30% EBITDA expansion

Avante achieved 10.3% year-over-year revenue growth in fiscal 2026, reaching $37.2 million, with Recurring Monthly Revenue improving by 24.4%. The Company achieved Adjusted EBITDA of $2.3 million in fiscal 2026, an increase of 30% as compared to the prior fiscal year, with Gross profit margin of 41.8%. NSSG delivered revenue growth of 66.9% for the year, reflecting continued growth across its international secured transportation, investigations, and consulting services, with the latter growing 96.6%.

Avante achieved operating cash flow of $3.8 million as compared to $0.3 million in the prior fiscal year, an over 10 times improvement. TORONTO, Ontario, July 22, 2026 (GLOBE NEWSWIRE) -- Avante Corp. (TSX.V: XX) (OTC: ALXXF), a global provider of technology-enabled security solutions and services, (“ Avante ” or the “ Company ”) is pleased to announce its financial results for fiscal 2026, representing the three and twelve months ended March 31, 2026 (all amounts in Canadian dollars thousands, unless otherwise indicated). Readers should refer to the Company's audited consolidated financial statements and MD&A in respect of its fiscal year ended March 31, 2026, for additional risk factors, material accounting policies, detailed financial disclosures, reconciliation of non-IFRS financial measures to the most directly comparable IFRS Accounting Standards as issued by the International Accounting Standards Board (“IASB”) (“IFRS”) financial measures, related party transactions, contingencies, and reporting of subsequent events.

Such financial statements and MD&A are incorporated by reference into this news release and have been filed electronically through the System for Electronic Document Analysis and Retrieval (“SEDAR+”), which can be accessed at www.sedarplus.ca. Manny Mounouchos, Founder, Chief Executive Officer and Board Chair of Avante, commented, “Fiscal 2026 was a year of continued momentum for Avante, as our team executed against a clear strategy of growing our suite of recurring, technology-enabled security solutions for our clients. NSSG had an outstanding year, with revenue growth of 67%, a strong validation of the synergies we've built since bringing NSSG into the Avante family.

Our Protective Services and Monitoring & Managed Services divisions both delivered solid growth, supported by the continued rollout of Halo and MAST across our client base. We are especially excited about our recently announced partnership with Target Park, which will see MAST deployed in their above-ground parking locations across Canada and the United States, a strong validation of MAST's scalability across a diverse range of applications and a meaningful expansion of our recurring revenue opportunity. We continue to believe MAST represents one of the most significant growth platforms in Avante's history.

As we move into fiscal 2027, we are focused on scaling our technology platforms, deepening our recurring revenue base, and pursuing disciplined M&A opportunities that extend our footprint in high-growth security markets globally.” Raj Kapoor, Avante’s Chief Financial Officer, added, “Fiscal 2026 reflects the continued scaling of our business, with double-digit revenue growth, meaningful Gross profit margin expansion, and 30% growth in Adjusted EBITDA (1) . Cash flow generation was a real highlight this year, with positive operating cash flows of $3.8 million, giving us added flexibility to invest in growth. We remain bank-debt free, with $6.2 million in cash and access to $12 million in unused credit facilities, positioning us well to pursue strategic acquisitions and continue investing in our technology platforms including MAST.” ANNUAL FINANCIAL HIGHLIGHTS FOR FISCAL 2026 ENDED MARCH 31, 2026: The Company reported revenue of $37.23 million for fiscal 2026, representing year-over-year revenue growth of 10.3%, or $3.46 million, compared to $33.76 million for the prior fiscal year.

NSSG revenue experienced growth of 66.9% over the previous year including an increase in its consulting division of 96.6% and the Company’s Secured Transport division experienced an increase of 23.9% in revenue compared to the previous year. Avante achieved Gross profit (1) of $15.57 million during fiscal 2026, an increase of $2.31 million compared to fiscal 2025. Gross profit margins (1) increased to 41.8% in fiscal 2026, compared to 39.3% in the prior fiscal year.

The Avante Security segment delivered Recurring Monthly Revenue (“RMR”) (1) of $17.22 million during fiscal 2026, up from $13.84 million during the Company's prior fiscal year, a year-over-year growth of 24.4%. This growth was driven by net growth in monitoring customers and increase in NSSG’s recurring revenue. The Company achieved Adjusted EBITDA (1) of $2.28 million during fiscal 2026, compared to Adjusted EBITDA of $1.76 million for the prior fiscal year, representing year-over-year growth of 29.5%.

FISCAL FOURTH QUARTER FINANCIAL HIGHLIGHTS FOR THE THREE MONTHS ENDED MARCH 31, 2026: The Company reported revenue of $10.50 million during the fourth quarter of fiscal 2026, representing year-over-year revenue growth of 12.4%, or $1.15 million, compared to $9.35 million for the prior fiscal year fourth quarter. Avante achieved Gross profit (1) of $4.74 million in the fourth quarter of fiscal 2026, an increase of $1.41 million compared to the same quarter in fiscal 2025. Gross profit margins (1) improved to 45.2%, compared to 35.7% during the prior year's fourth quarter driven by an increase in higher margin businesses NSSG, Avante Black and HALO.

The Company achieved Adjusted EBITDA (1) of $0.52 million during the fourth quarter of fiscal 2026, compared to Adjusted EBITDA of $0.29 million for the prior fiscal year fourth quarter, representing year-over-year growth of 77.4%. FISCAL FOURTH QUARTER BUSINESS HIGHLIGHTS On January 20, 2026, Avante announced a deployment agreement with a regional police force in Ontario for its Gunshot Detection system, to be installed across three high-crime locations. The system uses energy-signature detection to identify and triangulate gunfire, with each sensor covering up to 795,000 square feet.

The agreement includes Avante's Human-in-the-Loop monitoring technology, generating recurring revenue and creating potential for future expanded technology adoption by the police force. EVENTS SUBSEQUENT TO MARCH 31, 2026 On June 29, 2026, the Company announced a partnership agreement with Target Park Group Inc., a commercial parking operator with more than 700 above-ground parking locations across Canada and the United States, to deploy Avante's MAST platform as the primary security layer across its portfolio. The engagement includes a forward-looking technology roadmap toward automated parking services, including vehicle identification and real-time lot monitoring, expanding Avante's recurring revenue opportunity.

OUTLOOK Management is pleased to provide a positive outlook for Fiscal 2027. Avante enters the new fiscal year with strong momentum across its core business lines and a growing pipeline of technology-enabled security deployments with an expanding footprint for its MAST and HALO platform. With a debt-free balance sheet, $12 million in available credit facilities, and continued positive operating cash flow, the Company believes it is well positioned to fund organic growth initiatives while remaining opportunistic in pursuing strategic M&A.

Management is pleased to provide the Company’s long-term financial objectives: Increase recurring revenues through developing and scaling HALO and MAST deployments across new verticals Improve consolidated Adjusted EBITDA margins, driven by an increase in higher-margin service lines and greater operating efficiency Take advantage of consolidation opportunities within a fragmented security services industry through disciplined M&A Continue to expand NSSG’s international secured transportation, investigations, and consulting revenue WEBINAR: Avante will host an investor webinar to provide a corporate update on Monday, July 27, 2026, at 11:00 am ET (8:00 am PT) to discuss its fourth quarter and year-end fiscal 2026 results for the period ending March 31, 2026. The call will be hosted by: Emmanuel Mounouchos, CEO, Chairman, and Founder of Avante, and Raj Kapoor, CFO of Avante. Please connect 5 minutes prior to the conference call to ensure time for any software download that may be required.

SUMMARY FINANCIAL RESULTS FOR FISCAL 2026 ENDED MARCH 31, 2026: BALANCE SHEET INFORMATION: RECONCILIATION OF ADJUSTED EBITDA FOOTNOTES: (1) Adjusted EBITDA, Gross profit, Gross profit margin, and Recurring Monthly Revenues (“RMR”) are non-IFRS financial measures that have no standardized meaning under IFRS and, as a result, may not be comparable to the calculation of similar measures by other companies. See Non-IFRS Financial Measures below. Reconciliations of Adjusted EBITDA and RMR to Net Income or Revenues, as applicable, are provided in the Company's Management Discussion & Analysis (“MD&A”). (2) Represents a non-cash, one-time revaluation charge on the NSSG non-controlling interest put option liability recorded in the fourth quarter of fiscal 2026.

See the notes to the Company's audited consolidated financial statements for the year ended March 31, 2026. ABOUT AVANTE CORP.: Avante Corp. is a Toronto-based leading provider of security personnel and technology-enabled security solutions for residential and commercial clients. Avante’s mission is to deliver an elevated level of security globally, with a white-glove approach for high-net-worth families and corporations alike, through advanced solutions and methods for detecting conditions requiring immediate response.

The Company has developed a diversified security platform that leverages cutting-edge technology to deliver superior security services. With an experienced team and a proven track record of solid growth, Avante is taking steps to build a broad portfolio of security businesses and solutions for its customers through organic growth complemented by strategic acquisitions. Avante acquires, manages, and develops industry-leading companies that provide specialized, mission-critical solutions to address the security risks faced by its clients.

Avante is listed on the TSX Venture Exchange under the ticker “XX”. For more information, please visit www.avantecorp.ca and consider joining our investor email list. Emmanuel Mounouchos Founder, CEO & Board Chair, Avante Corp. 416-923-6984 manny@avantesecurity.com This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities described herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

This news release does not constitute an offer of securities for sale in the United States. The securities described herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements. Non-IFRS Financial Measures This press release includes certain measures which have not been prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IASB”) (collectively, “IFRS”) such as EBITDA, Adjusted EBITDA and Recurring Monthly Revenue (“RMR”).

These non-IFRS measures are not recognized under IFRS and do not have a standardized meaning prescribed by IFRS. Accordingly, users are cautioned that these measures should not be construed as alternatives to net income determined in accordance with IFRS. The non-IFRS measures presented are unlikely to be comparable to similar measures presented by other issuers.

References to EBITDA are to net income before interest, taxes, depreciation and amortization. References to Adjusted EBITDA are to net income before interest, taxes, depreciation, amortization of intangibles & capitalized commissions, share-based payments, acquisition, integration and/or reorganization costs, deferred financing costs, loss (gain) in fair value of derivative liability, and income or expense resulting from fair value adjustments recognized under IFRS. Recurring Monthly Revenues, or RMR, represent revenue during the fiscal period that benefited from contractual periodic billing to customers, typically monthly, quarterly or annually.

Management believes that Adjusted EBITDA and Recurring Monthly Revenues are appropriate additional measures for evaluating Avante's performance. Readers are cautioned that neither EBITDA, Adjusted EBITDA nor Recurring Monthly Revenues should be construed as an alternative to net income or revenues (as such financial measures are determined under IFRS), as an indicator of financial performance or to cash flow from operating activities (as determined under IFRS) or as a measure of liquidity and cash flow. Avante's method of calculating EBITDA, Adjusted EBITDA and Recurring Monthly Revenues may differ from methods used by other issuers and, accordingly, Avante's reported Non-IFRS measures may not be comparable to similar measures used by other issuers.

Forward-Looking Information This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of the Company and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may" "estimate", "pro-forma" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections.

The forward-looking statements in this news release are based on certain assumptions. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the Company's ability to achieve its stated long-term financial objectives and fiscal 2027 outlook; the Company's ability to achieve anticipated growth from acquisitions, new service offerings and from development and deployment of new technologies; the Company's ability to successfully deploy MAST units across applicable Target Park locations and achieve the anticipated operational, commercial, and technological outcomes contemplated by that partnership agreement; the Company's ability to expand its Gunshot Detection deployment with its Ontario police force customer into additional technologies and services; and the list of risk factors identified in the Company's Management Discussion & Analysis (MD&A), Annual Information Form (AIF) and other continuous disclosure documents available at www.sedarplus.ca .

There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update any such statement, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Globe Newswire July 22, 2026 - 3:30 AM PDT News by QuoteMedia www.quotemedia.com