Progressive Planet hits Q4 and annual revenue records
Canada NewsWire
/NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA/
KAMLOOPS, BC , Aug. 26, 2026 /CNW/ -- Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF) ("Progressive Planet", "PLAN", or the "Company") is proud to provide highlights for the fiscal year ended April 30, 2026.
Financial Highlights include the following:
Q4 Revenue increased by 41.5% to $6,505,499 from $4,598,639 – the highest quarterly revenue achieved by the Company since inception.
Annual Revenue increased by 18.9% to $23,200,596 from $19,518,077 – the highest annual revenue achieved by the Company since inception.
Gross profit increased by 37% to $8,305,461 from $6,063,780, and gross margin increased to 36% compared to 31% for F2025.
Income from operations decreased by 8% to $1,642,375, due to a significant one-time promotional expense in the current fiscal year and significant research and development costs at its PozGlass™ Pilot Plant.
Cash and Cash Equivalents decreased to $2,247,720 versus $5,428,513 due to major investment in property, plant, and equipment assets , including $3,761,620 for a building extension and equipment for the PozGlass™ Pilot Plant.
Existing credit facilities remain unused with greater than $3,000,000 in credit available as at April 30, 2026.
Three major factors reduced short-term profitability:
Selling expenses increased by $734,719 (55%) from $1,330,938 in F2025 to $2,065,657 in F2026. This was mainly due to investing in a one-time slotting fee to launch three new SKUs with a large US retail customer and higher personnel costs as the Company expanded its sales team in F2026.
Research and development costs increased by $1,244,514 (390%), from $319,212 in F2025 to $1,563,726 in F2026. This increase was the result of the non-capital expenses associated with its PozGlass™ Pilot Plant, hiring a Chief Technical Officer, and opening a cement materials research Lab in Calgary to develop Progressive Planet's second major cement, Planet LCD™.
Impairment of exploration and evaluation assets increased from $24,059 in F2025 to $1,209,349 in F2026 as the Company wrote off a legacy exploration asset in the year.
"We are delighted to see a major increase in revenue for Q4 and the full year. This year, we invested a record $6.7 million into property, plant, and equipment. Much of the capital invested was for equipment that typically lasts for decades. We invested to enable aggressive growth of revenue in our core business while investing in the future via the PozGlass™ Pilot Plant. We will continue to invest heavily for future growth over the next year," stated Steve Harpur, CEO.
An earnings call has been scheduled with Radius Research for 1:15 p.m. Pacific on September 9, 2026. Register for the call using the following link:
https://us02web.zoom.us/webinar/register/7517870893392/WN_BBqZjQItQNaj_CmWMrL0cg#/
About Progressive Planet:
Progressive Planet, based in Kamloops, British Columbia, is redefining sustainability with our Products for a Healthy Planet ™ . By leveraging owned mineral assets and recycled materials, we develop patented and patent-pending innovations that promote a healthier planet.
Our two C-Quester ™ Centres of Sustainable Solutions lead advancements in low-carbon cement technologies in both Kamloops, BC and Calgary, Alberta. Progressive Planet's products are proudly available in over 10,000 retail locations across North America. For more information, visit progressiveplanet.com .
Progressive Planet provides regular information for investors on its website: progressiveplanet.com/investors/ . This includes press releases and other information about financial performance, patents filed, and information on corporate governance.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein including statements regarding the development of future products. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
Disclaimer: This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside Canada.
SOURCE Progressive Planet Solutions Inc.
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Canada Newswire
August 26, 2026 - 1:50 PM PDT
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