Turnium Technology Group Reports 276% YoY Revenue Growth for Fiscal Q2 2026

The most recent release (May 14, 2026) reports Turnium’s fiscal Q2 2026 results (quarter ended March 31, 2026). Revenue surged to $6.44M, a 276% year-over-year increase, driven by the inclusion of Insentra for the full quarter following its acquisition closure on February 27, 2026. Gross margin dollars rose to $2.17M, but gross margin percentage compressed to 33.7% (vs. 70.3% in Q2 2025) due to Insentra’s higher mix of professional services. Net loss deepened to ($2.63M) from ($0.41M) a year earlier, and Adjusted EBITDA turned negative at ($1.85M) from a positive $0.096M. Management introduced a cost-optimization program targeting $1.2–$2.4 million in annualized operating expense reductions and provided forward guidance: Q3 revenue $7.0–7.5M, Q4 $8.0–8.5M, and a 12-month (from March 1, 2026) outlook of $28–32M revenue with gross margin 35–45%. A $4.65M secured debenture financing (16% interest) closed in February, and another non-brokered private placement of up to $6M at $0.07/unit was announced on March 31.
(Corrected gross margin calculation: $1,204k / $1,714k = 70.3%.)

Prior releases showed that the Q2 revenue jump was widely expected. On April 28, preliminary Q2 results already reported ~$6.4M revenue and gross margin of 33.7%. The acquisition of Insentra, first announced in November 2025, was completed with the asset purchase agreement signed February 3 and closed February 27, bringing an annualised revenue run-rate of ~$30M and >150 employees. The company also divested its TNET division in March 2026.

The reported numbers contain no significant surprise versus the April 28 preliminary release; both revenue and gross margin were already disclosed. The new information is the bottom‑line deterioration (net loss and negative EBITDA), the cost‑optimization plan, and the reiteration of guidance. While the revenue growth is impressive on a percentage basis, it stems entirely from an acquired business whose own historical financials showed negative EBITDA (TTM to June 2025: Adjusted EBITDA –$1.36M). Integrating Insentra is proving costly: operating expenses jumped to $4.84M from $1.26M, far outpacing the gross profit gain.

The stock price has drifted from $0.09–$0.10 in late 2025 to $0.06–$0.07 recently, suggesting the market either priced in the acquisition’s dilutive and loss-making consequences or reacted to the preliminary numbers. The net loss of $2.63M versus a market cap of only ~$11.4M is material, but the sequential improvement from Q1’s $2.97M loss and the proactive cost cuts may prevent further downside. Overall, the news is a mixed bag that largely confirms previously known trends, so it does not materially alter the investment thesis.

Turnium Technology Group Inc. (TTGI) is a “Technology‑as‑a‑Service” company that provides SD‑WAN (Version 7.x “Laywire” platform), AI communications (partnership with Syntheia), and managed IT services. Its flagship offering is the SD‑WAN platform, deployed to 46 OEM partners. Following the Insentra acquisition, the group now has three subsidiaries: Turnium, Claratti (seafarer connectivity), and Insentra (channel‑only IT services specialized in Microsoft 365, AI, cloud, cybersecurity). The company serves more than 280 channel partners across North America, UK, and APAC. The long‑term goal is to reach $100M revenue and $20M EBITDA by 2027 through organic growth and M&A.