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EnWave (ENW) investor relations material
EnWave Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 2026 revenue increased 36% year-over-year to CAD 1.6 million, driven by higher royalties, tooling revenue, and large-scale machine sales.
Signed three new license agreements, expanding into snacking, cannabis, and tropical produce markets, including deals with BGGA (Australia), Shinyway International (New Zealand), and a U.S. snack company.
Commissioned one large-scale machine and completed fabrication of two more on contract during the quarter.
Commercial pipeline remains robust, with active engagement across North America, Europe, and emerging markets.
Focused on scaling recurring royalty revenue and supporting partners' capacity expansions.
Financial highlights
Q1 2026 revenue was CAD 1.6 million, up from CAD 1.2 million in Q1 2025.
Base royalties rose 18% to CAD 500K; total royalty revenue (including exclusivity) up 12% to CAD 627K.
Gross margin improved to 37% from 29% year-over-year, attributed to higher royalties and favorable production mix.
SG&A (including R&D) increased 16% to CAD 1.5 million, reflecting higher sales personnel and professional fees.
Adjusted EBITDA loss narrowed to CAD 585K from CAD 635K year-over-year.
Net loss from continuing operations was CAD 1.108 million, up 18% year-over-year; loss per share was $(0.01).
Cash and equivalents at quarter-end were CAD 2.5 million; net working capital surplus of CAD 8.5 million.
Outlook and guidance
Confident in achieving targeted royalty collections of CAD 2.3 million for fiscal 2026.
Multiple advanced-stage machine evaluations and license opportunities expected to convert in coming quarters.
Focus on high-margin verticals such as pet treats, functional ingredients, and premium snacks.
No immediate need for further financings anticipated, with inventory investments expected to convert to cash.
Ongoing strategy to expand royalty-bearing commercial licenses and grow market presence in food, pharmaceutical, and cannabis sectors.
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