Telescope Innovations Delivers Continued Strong Sales Revenue Growth in First Fiscal Quarter 2026

Executive Summary

• Telescope Innovations Corp. reported financial results for the fiscal quarter ended November 30, 2025 (Q1), showing significant revenue growth driven by the delivery of its first Self Driving Laboratory (SDL) and increased sales of its DirectInject-LC™ product and Contract Research Services.
• The company achieved a record quarterly revenue of $2.70 million CAD, nearly doubling the previous year's Q1 revenue, although expenses also increased significantly, resulting in an adjusted EBITA loss of $0.83 million.
• Key operational milestones include the successful demonstration of the proprietary ReCRFT™ process for lithium recycling, receipt of conditional government funding, and the completion of a $6.50 million equity financing.

Key Details

• Financial Performance (Q1 FY2026):
  • Revenues: $2.70 million CAD (compared to $1.20 million in Q1 FY2025).
  • Expenses: $3.92 million CAD (compared to $1.55 million in Q1 FY2025).
  • Adjusted EBITA Loss: $0.83 million CAD (compared to a loss of $0.10 million in Q1 FY2025).
• Revenue Drivers:
  • Delivery of the first Self Driving Laboratory (SDL) to the Korean Pharmaceutical BioPharmaceutical Manufacturers' Association (KPBMA).
  • DirectInject-LC™ product sales.
  • Contract Research Services revenue of $0.82 million (compared to $0.38 million in Q1 FY2025).
• Expense Increases:
  • Consulting and salary costs related to hiring technical, sales, and research staff.
  • Parts and travel expenses for product fulfillment, installation, training, and sales activities.
  • Professional services and management fees for private placement advisory, audit, legal fees, and one-time performance payments.
• Operational & Strategic Updates:
  • Financing: Final tranche of equity financing completed, wrapping up a total capital raise of $6.50 million.
  • Technology: Demonstrated proprietary ReCRFT™ process achieved >99.9% pure Li2CO3 from battery recycling brines; recycled materials shipped to Cellmine Ltd. (UK) and University of St. Andrews (UK) for battery fabrication and testing.
  • Funding: Received conditional approval for $3.60 million in government funding from the National Research Council of Canada (NRC-IRAP) and Natural Resources Canada (NRCan) for lithium recycling and solid-state battery materials technologies.
  • Management: Appointed Vaso Vlachos as Chief Operation Officer.

Notable Quotes

• "Our Q1 results position Telescope firmly on track to achieve our technical, strategic and financial targets for the year," commented Henry Dubina, Telescope CEO. "The combination of strong product sales, and groundbreaking collaborations such as our work with Pfizer on Self-Driving Labs, plus the advancement of proprietary technologies such as ReCRFT™, highlights our ability to deliver value across multiple industries. As we continue to scale operations and reinvest in growth, we remain confident in our capacity to drive innovation and sustain our momentum throughout 2026."