Evolution PowerX (E) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 increased 16% year-over-year to $12.0 million, driven by strong Alberta market growth.

• Gross margin rose 18% year-over-year to $6.1 million, reflecting improved operational efficiency.

• Adjusted EBITDA grew 23% year-over-year to $5.4 million, highlighting robust business performance.

• Business development strategies led to new client opportunities and increased adoption of turbine power generation technology.

Financial highlights

• Net income for Q1 2026 was $2.98 million, up from $2.41 million in Q1 2025.

• Basic earnings per share increased to $0.04 from $0.03 year-over-year.

• Adjusted EBITDA per share (basic) rose to $0.07 from $0.06 year-over-year.

• Prior period included a $1.13 million one-time gain from a debt settlement, impacting income before tax and EPS by $0.01.

Outlook and guidance

• Continued momentum expected as power solutions adoption expands across industries and applications.

• Management anticipates ongoing growth from both new and repeat customers.