Progressive Planet earns $1.66-million in fiscal 2025

Executive Summary

• Progressive Planet Solutions Inc. reported record annual net income and cash flow for the fiscal year ended April 30, 2025, marking a significant turnaround from the prior year's loss.
• The company achieved a net income of $1,669,591 compared to a loss of $392,832 in the previous year, driven by a 164% increase in income from operations and a 138% increase in EBITDA.
• Despite flat annual revenues over the past two years, the company improved its gross margin to 31.1% and nearly doubled its cash flow from operating activities to over $5 million.

Key Details

• Net Income: Increased to $1,669,591 for the fiscal year ended April 30, 2025, compared to a loss of $392,832 in the prior year.
• Income from Operations: Reached $1,787,613, representing a 164% increase from the prior year's $678,035.
• EBITDA: Increased to $3,224,723, a 138% increase from $1,355,099 in fiscal 2024.
• Revenue: Decreased slightly by 0.6% to $19,518,077.
• Gross Profit: Increased by 0.9% to $6,063,780.
• Gross Margin: Improved to 31.1% from 30.6% in the prior year.
• Cash Flow from Operations: Generated $5,099,865, compared to $2,572,048 in the prior year.
• Cash Balance: Increased to $5,428,513 from $1,685,806 in the prior year.
• Operational Context: The company attributes the strong financial performance to a continued focus on cost control. Annual revenues have remained flat for the past two years.
• Future Events: The company intends to release its first quarter financial results early, on or before September 11, 2025. An earnings call covering both the annual and Q1 results will be scheduled, with details to be announced in the Q1 news release.

Notable Quotes

• "The past year saw the company continue its focus on controlling costs, which resulted in strong cash flow and net income relative to the year prior."