Hypercharge Networks Corp. (TSXV: HC, OTC: HCNWF, FSE: PB7) reported record annual revenue of $10,931,591 and gross profit of $3,040,773 for the fiscal year ended March 31, 2026, marking a significant step toward profitability despite macroeconomic headwinds. The Vancouver-based EV charging operator saw its net and comprehensive loss narrow by 38% to $2,674,840, a $1.6 million improvement year-over-year, as disciplined cost management and a shift toward higher-margin services offset broader economic challenges in the Canadian marketplace.

The financial results, released on July 29, 2026, reflect a strategic pivot toward recurring revenue streams. Service and subscription revenue surged 292% to $2,791,884, becoming a primary driver of margin expansion. Gross margin improved by five percentage points to 28%, up from 23% in the prior fiscal year. This improvement was achieved even as the company navigated tariff-related uncertainty and slower multi-family residential development activity in certain markets.

Financial Highlights

The following table summarizes key financial metrics for the three and twelve months ended March 31, 2026, compared to the same periods in the prior year.

Annual operating expenses decreased by 9% to $6,028,552, primarily due to lower consulting fees, share-based payments, and wages within general and administrative costs. However, quarterly operating expenses rose 21% to $2,102,031 in Q4FY26, driven by higher office costs, professional fees, and product design expenses.

Operational Growth and Strategic Initiatives

Hypercharge expanded its network significantly, surpassing 7,800 charging ports sold across Canada and the United States, a 42% increase from the prior year. The Hypercharge mobile app registered over 46,700 users, an 86% year-over-year growth. A key operational milestone was the delivery of 500 Level 2 charging stations to Oakridge Park in Vancouver, British Columbia. Of these, 342 stations were commissioned on May 28, 2026, beginning to generate charging revenue, with the remaining 158 expected to come online in 2027.

The company also launched Hypercharge Halo™, a new Level 2 EV charging station designed for multi-family and commercial applications, featuring adjustable output up to 48 amps and compatibility with J1772 and NACS connectors. Additionally, Hypercharge announced Hypercorp Energy Solutions, an initiative to broaden its offerings into integrated energy solutions, including battery energy storage systems and advanced energy management software.

What the Numbers Show

The divergence between quarterly and annual performance highlights the impact of product mix shifts. While annual revenue grew 9%, Q4FY26 revenue dropped 55% to $1,273,447 compared to $2,799,603 in the prior quarter. This decline was attributed to a purposeful shift toward higher-margin Level 2 charging deployments, which have lower ticket prices than the large DC fast charger deployments seen in the prior year. Despite the lower top-line figure, Q4FY26 gross profit percentage jumped from 19% to 37%, demonstrating the effectiveness of this strategic pivot toward high-margin service and installation revenue.

Forward-Looking Developments

Following the fiscal year-end, Hypercharge acquired Eddie from Hydro-Québec’s AXSO in May 2026, adding more than 2,700 ports to its network. This acquisition is not reflected in the FY26 results but is expected to enhance recurring revenue starting in Q1FY27. The company also received $1.74 million in cash proceeds in June 2026 from the sale of carbon credits generated through Canada’s Clean Fuel Regulations (CFR) for the 2025 calendar year, representing an increase of over 600% compared to the $0.23 million received for the prior year.

David Bibby, President and CEO of Hypercharge, stated that the company enters fiscal 2027 with significant tailwinds, focusing on increasing recurring revenue, expanding margins, and maintaining discipline in capital allocation. The company completed two financings during the fiscal year, including a non-brokered private placement in April 2025 for $1,892,085 and a LIFE Offering in November 2025 for $3,750,000, strengthening its balance sheet for continued operational growth.

Hypercharge Networks Corp. has granted 1,000,000 stock options to David Bibby, CEO and President, at an exercise price of $0.11 per share. The options are issued to replace 1,000,000 options previously granted to Bibby that expired unexercised on June 29, 2026. Each option is exercisable to purchase one common share in the capital of the company for a 5-year term, vesting 100% on issuance.

The equity grants are governed by the terms of the company's equity incentive plan and are subject to the requirements of the TSX Venture Exchange. Hypercharge Networks Corp. is a leading provider of smart electric vehicle (EV) charging solutions for residential and commercial buildings, fleet operations, and other rapidly growing sectors.

Option Grant Details

The company is committed to offering seamless, simple solutions including industry-leading hardware, innovative and integrated software, and comprehensive services, backed by a robust network of public and private charging stations. Hypercharge aims to accelerate EV adoption and enable the shift towards a carbon neutral economy.