Progressive Planet Solutions (PLAN) Q1 2027 earnings summary

Executive summary

• Achieved record quarterly revenue of $7.3M for Q1 2027, a 23% increase year-over-year.

• Gross profit rose 10% to $2.5M, while gross margin declined to 34% from 39% in Q1 2026.

• Income from operations increased 29% to $924K; net income fell 31% to $1.1M.

Financial highlights

• EBITDA decreased 7% to $1.35M; Adjusted EBITDA rose 6% to $1.48M, reflecting exclusion of non-recurring items.

• Capital investment totaled $654K, including $391K for PozGlass pilot plant expansion.

• Grant proceeds of $190K and $234K recognized for capital and non-capital pilot plant costs, reducing cash outlay.

Outlook and guidance

• Four major capital projects targeted for completion by fiscal year end (April 30, 2027), including PozGlass Phase 2 and new production lines.

• Continued significant investment planned to finish these projects.