Legend Power Systems Reports Q1 F2026 Financial Results

Executive Summary

• Legend Power Systems reported Q1 F2026 revenue of C$253 k, a 209% increase year‑over‑year, and narrowed its net loss to C$522 k from C$1.03 M in the prior period.
• Adjusted EBITDA loss improved to C$465 k (down from C$801 k) and gross margin rose to 44% versus 15% a year earlier.
• The company closed a non‑brokered private placement after quarter‑end, raising gross proceeds of C$1.65 million.

Key Details

• Revenue: C$252,870 for the three months ended Dec 31 2025 vs. C$81,835 in Q1 F2025 (+209%).
• Gross Margin: C$111,316 (44% of revenue) versus C$11,946 (15%) a year earlier; driven by higher average selling price and better factory utilization of SmartGATE units.
• Operating Expenses: C$631,005 vs. C$1,041,286 in prior year (‑39%), reflecting lower headcount, salaries, and consulting costs from internal cost‑cutting measures.
• Adjusted EBITDA: Negative C$465,102 vs. negative C$801,490 a year earlier (‑42%).
• Net Loss: C$522,024 vs. C$1,032,881 in Q1 F2025 (‑49%).
• Cash Position: C$46,000 cash on hand; no debt; working capital of negative C$855,000 at period end.
• Financing: Closed a non‑brokered private placement post‑quarter for gross proceeds of C$1.65 million. No further terms disclosed.
• Operational Highlights: Technical Proving Ground program with U.S. GSA operational; first site fully functional with data collection underway. Near‑term pipeline exceeds 200 buildings; new partnerships and franchise training launched, including a partner with 150 franchisees (10 in initial rollout).
• Conference Call: Hosted March 2 2026 at 11:00 AM ET (8:00 AM PT) to discuss Q1 results.

Notable Quotes

“The market opportunity for SmartGATE has never been better… Our pipeline is at an all‑time high, reflecting this structural shift in how building owners view energy reliability.” – Randy Buchamer, President & CEO, Legend Power Systems.