NanoXplore (GRA) Q4 2026 earnings summary

Executive summary

• Achieved strongest company position to date with a robust CAD 35 million pipeline of graphene-enhanced solutions launching over 18 months and a solid cash position.

• Fiscal year 2026 saw a 9% decrease in total revenues to $117.3M, with Q4 revenues up 7% year-over-year to $33.9M.

• Advanced proprietary D Series graphene technology to commercial production, opening new markets and launching new products.

• Formalized partnership with CPChem (Chevron Phillips Chemical), driving commercial TriboGraf revenues, and launched a state-of-the-art facility in North Carolina for Club Car.

• Completed CEO transition and strengthened leadership team, with Rocco Marinaccio appointed as CEO in December 2025.

Financial highlights

• Q4 revenues (excluding tooling) grew 17% year-over-year, driven by new programs and volume recovery in PACCAR and Volvo.

• Q4 adjusted gross margin was 22.5%, down from 24.7% last year; full-year margin was 21.3%, down from 22.3%.

• Adjusted EBITDA for Q4 was CAD 1.9 million, down CAD 565,000 year-over-year, but up CAD 1.3 million excluding tooling.

• Full-year sales were CAD 117.3 million, down from CAD 129 million, mainly due to lower Q1 and normalized tooling revenues.

• Ended Q4 with CAD 25 million in cash and CAD 11.5 million in debt; total liquidity of CAD 30 million.

Outlook and guidance

• Q1 2027 revenues expected between CAD 30.5 million and CAD 31 million, up 32% year-over-year.

• FY 2027 revenue guidance: CAD 130 million–CAD 140 million (11–20% growth), with positive free cash flow expected.

• FY 2028 internal expectations: CAD 160 million–CAD 170 million in revenue, driven by growth in graphene sales and solutions business.

• CapEx to reduce to under CAD 1 million per quarter; major strategic investments largely complete.

• Anticipates record highs and positive free cash flow in fiscal 2027.