Hypercharge reports record service, subscription revenue for fiscal 2026

Hypercharge Reports Full Year Fiscal 2026 Results, Record Service and Subscription Revenue and Gross Profit

• Record Revenue of $10.9 Million, +9% Year-over-Year
• Record Gross Profit of $3.0 Million, +34% Year-over-Year
• Record Service and Subscription Revenue of $2.8 Million, +292% Year-over-Year
• Gross Margin of 28%, +5pp Year-over-Year
• Net and Comprehensive Loss Reduced by 38% Year-over-Year
  

▶ WATCH – Hypercharge Fiscal 2026 Results Presentation:
https://www.youtube.com/watch?v=RuDHQ6neW6I

VANCOUVER, British Columbia, July 29, 2026 (GLOBE NEWSWIRE) -- Hypercharge Networks Corp. (TSXV: HC; OTC: HCNWF; FSE: PB7) (the “Company” or “Hypercharge”), a leading EV charging operator, is announcing the release of its financial results for the fourth quarter and fiscal year ended March 31, 2026, and related management discussion and analysis. All dollar figures are in Canadian Dollars, unless otherwise stated.

“Fiscal 2026 was a defining year for Hypercharge, with much stronger economics and disciplined execution shown in the record annual revenue of $10.9 million, record gross profit of $3.0 million, and record service and subscription revenue of $2.8 million. Gross margin increased five percentage points to 28%, while comprehensive loss narrowed 38% to $2.7 million, a $1.6 million improvement year-over-year and meaningful progress in closing the gap toward profitability.

Revenue increased despite tariff-related uncertainty, broader economic headwinds in the Canadian marketplace, and slower multi-family residential development activity in some markets. The year-over-year comparison in revenue also reflects that the proceeds from the sale of Clean Fuel Regulations (CFR) carbon credits were recorded as other income in fiscal 2026. Even with the macro challenges, Hypercharge delivered record revenue while reducing operating expenses, demonstrating continued growth alongside disciplined cost management.

The improvement in our financial performance was driven by a focus on higher-margin Level 2 charging, installation, professional services, subscriptions, and recurring revenue. Service and subscription revenue increased 292% in fiscal 2026, helping drive a 34% increase in gross profit and demonstrating the margin potential of the business as these revenue streams become a larger part of our mix. We ended the year with more than 7,800 charging ports sold and over 46,700 registered users, representing growth of 42% and 86%, respectively, and delivered 500 Level 2 charging stations to Oakridge Park, one of Canada’s largest redevelopment projects.

In fiscal 2026, we strengthened our carbon credit program, an important and growing revenue opportunity that improves the economics of our charging network and supports reinvestment in future growth. We also advanced several other strategic initiatives, including the launch of Hypercharge Halo™, expansion of our professional services capabilities, and continued development of partnerships that extend our reach across North America.

Following year-end in May 2026, the acquisition of Eddie from Hydro-Québec’s AXSO has since added more than 2,700 ports to our network and expanded our recurring revenue base and presence in Québec. As the acquisition closed after fiscal year-end, its contribution is not reflected in these results and will begin to appear in our fiscal 2027 first-quarter results, enhancing Hypercharge’s network significantly and increasing recurring revenue in the new fiscal year. We also received $1.74 million in cash proceeds in June 2026 from the sale of carbon credits generated through Canada’s Clean Fuel Regulations (“CFR”) for charging activity during the 2025 calendar year which represents an increase of over 600% compared with the $0.23 million in CFR proceeds we received for prior year.

Hypercharge enters fiscal 2027 with significant tailwinds on the back of the strongest revenue, gross profit, and network base in its history. Profitable growth is our focus as we look ahead and our priorities to realize this mission remain clear: increase recurring revenue, expand margins, maintain discipline in capital allocation, and strategic M&A that converts our growing scale into stronger operating performance as we continue advancing toward profitability.”

- David Bibby, President and CEO of Hypercharge

Business and Pipeline Highlights (for the year ended March 31, 2026):

• Record Gross Profit: The Company reported record gross profit of $3,040,773 for the year ended March 31, 2026, an increase of $765,201 (34%) compared to the prior fiscal year. The improvement reflects higher revenue recognition and continued margin performance across key segments.
  
  
• Record Service and Subscription Revenue: The Company achieved record service and subscription revenue of $2,791,884 for the year ended March 31, 2026. This represents an increase of $2,079,036 (292%) compared to the year ended March 31, 2025, driven by a significant increase in installation revenue.
  
  
• Record Annual Revenue: The Company achieved its highest annual revenue in history, reporting recognized revenue of $10,931,591 for the year ended March 31, 2026. This represents an increase of $876,345 (9%) compared to the prior fiscal year, driven by continued growth in customer orders, disciplined execution, and successful delivery across the Company’s core markets.
  
  
• Gross Margin Growth: The Company reported gross margin of 28% for the year ended March 31, 2026, an increase of 5 percentage points compared to 23% for the year ended March 31, 2025, driven by a higher mix of service and recurring revenue, increased Level 2 charging equipment volume, and improved revenue mix toward higher-margin deployments.
  
  
• Charging Ports: Surpassed 7,800 charging ports sold across Canada and the United States, an increase of over 42% compared to March 31, 2025.
  
  
• Registered Users: Added over 21,700 new users since March 31, 2025, bringing the Hypercharge mobile app to more than 46,700 registered users as of March 31, 2026, an 86% increase year-over-year.
  
  
• Oakridge Park Delivery: Delivered 500 Level 2 charging stations to Oakridge Park in Vancouver, BC, one of Canada’s largest redevelopment projects. 342 Level 2 charging stations were commissioned and began generating charging revenue on May 28, 2026, with the remaining 158 charging stations expected to come online in 2027.
  
  
• New Charging Technology: Launched Hypercharge Halo™, a new Level 2 EV charging station designed for multi-family, commercial, and workplace applications, featuring adjustable output up to 48 amps, compatibility with J1772 and NACS connectors, and IP65/IK08 durability ratings.
  
  
• Hypercorp Energy Solutions: Announced the launch of Hypercorp Energy Solutions, a new energy services initiative intended to broaden the Company’s offering beyond EV charging into integrated energy solutions, including battery energy storage systems, advanced energy management software, and professional services.
  
  
• Carbon Credit Program: Advanced the Company’s participation in carbon credit markets, supporting an important revenue opportunity tied to eligible charging activity across the Company’s network. The program is intended to help improve the economics of EV charging infrastructure deployment by enabling proceeds from eligible credits to be reinvested in EV infrastructure and customer programs that support broader EV adoption.

Financial Highlights (for the fiscal year ended March 31, 2026):

The Company recognized annual revenue of $10,931,591, an increase of $876,345 (9%) compared to the fiscal year ended March 31, 2025, representing the highest annual revenue in the Company’s history.

Operating expenses totaled $6,028,552 for the year ended March 31, 2026, a 9% decrease compared to the prior year. The decrease primarily reflected lower consulting and professional fees, share-based payments, and wages and benefits within general and administrative expenses, partially offset by higher sales and marketing personnel costs and product design expenses.

The Company’s gross profit increased to $3,040,773, a 34% increase compared to fiscal 2025. Gross profit percentage increased from 23% to 28%, primarily due to a higher contribution from installation and service-related revenue, improved product mix, and recurring revenue contributions. 

Net and comprehensive loss for the fiscal year ended March 31, 2026, improved 38% to $2,674,840, or ($0.02) per basic and diluted share, compared to a net and comprehensive loss of $4,311,253, or ($0.06) per basic and diluted share, during the year ended March 31, 2025. 

Financial Highlights (for the three months ended March 31, 2026):

The Company recognized quarterly revenue of $1,273,447, a decrease of $1,526,156 (55%) compared to the three months ended March 31, 2025. The decrease was primarily due to a purposeful shift in product mix, as we targeted higher margin Level 2 charging deployments, which have lower ticket prices for installation. The prior year also had large DC fast charger deployments that were higher than typical quarterly volumes, further explaining the year-over-year decrease compared to the prior year.

Operating expenses totalled $2,102,031 for the three months ended March 31, 2026, a 21% increase from the prior-year period. The increase primarily reflected higher office and administrative costs, consulting and professional fees, share-based payments, and product design and development costs, partially offset by lower sales and marketing expenses.

Gross profit for the quarter decreased to $477,136, down from $540,040 in the same period last year. Gross profit percentage increased from 19% to 37%, driven by higher-margin service revenue representing a greater proportion of total revenue and lower EV charging equipment sales. 

Net and comprehensive loss for the three months ended March 31, 2026, increased 15% to $1,398,040, compared to a net and comprehensive loss of $1,214,729 during the three months ended March 31, 2025. The Company’s basic and diluted loss per share improved to ($0.01) from ($0.02).

Summary of Key Financial Measures:

A summary of selected financial information for the three and twelve months ended March 31, 2026, and March 31, 2025, is as follows:

	Three months ended March 31, 2026 (unaudited)	Three months ended March 31, 2025 (unaudited)	Twelve months ended March 31, 2026 (audited)	Twelve months ended March 31, 2025 (audited)
Revenue	$1,273,447	$2,799,603	$10,931,591	$10,055,246
Net and comprehensive loss	$(1,398,040)	$(1,214,729)	$(2,674,840)	$(4,311,253)
Basic and diluted loss per share	$(0.01)	$(0.02)	$(0.02)	$(0.06)

Condensed Consolidated Financial Statements:

	Three months ended March 31, 2026	Three months ended March 31, 2025	Twelve months ended March 31, 2026	Twelve months ended March 31, 2025
Revenue	$1,273,447	$2,799,603	$10,931,591	$10,055,246
Cost of sales	$(796,311)	$(2,259,563)	$(7,890,818)	$(7,779,674)
Gross profit	$477,136	$540,040	$3,040,773	$2,275,572
Operating Expenses
General and administrative	$1,358,887	$1,014,193	$3,324,715	$4,092,119
Sales and marketing	$555,621	$595,301	$1,904,643	$1,744,621
Research and development	$187,523	$129,167	$799,194	$756,640
Total Operating Expenses	$2,102,031	$1,738,661	$6,028,552	$6,593,380
Operating loss	$(1,624,895)	$(1,198,621)	$(2,987,779)	$(4,317,808)
Other expenses (income)
Foreign exchange (gain) loss	$(6,791)	$22,713	$21,385	$30,523
Interest income, net	$4,143	$(5,873)	$(10,722)	$(51,332)
Other income

For more information, please refer to the Company's management's discussion and analysis, and the Company’s audited consolidated financial statements for the three months and years-ended March 31, 2026, and March 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). 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 months and years-ended March 31, 2026, and March 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 securities laws. 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 future growth, recurring revenue, margin expansion, the Eddie acquisition, and progress toward profitability. 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.