NanoXplore Reports Results for its Q2-2026

Core Insights - NanoXplore Inc. reported financial results for Q2-2026, highlighting sequential improvements in revenue, margins, and adjusted EBITDA, indicating stronger execution and improving fundamentals [3][7]. Financial Performance - Total revenues for Q2-2026 were $27,580,290, a 17% decrease from $33,120,886 in Q2-2025 [7]. - Adjusted gross margin on revenues from customers was 21.5%, slightly up from 21.3% in the previous year [7]. - The company reported a loss of $3,836,406 in Q2-2026 compared to a loss of $2,894,922 in Q2-2025 [7]. - Adjusted EBITDA for Q2-2026 was $224,355, down from $1,102,050 in Q2-2025 [7]. - Total liquidity as of December 31, 2025, was $40,144,435, including cash and cash equivalents of $30,144,435 [7]. Segment Performance - In the Advanced Materials, Plastics and Composite Products segment, revenues decreased by 18% to $27,292,893 in Q2-2026, with adjusted EBITDA dropping 86% to $180,967 [11]. - The Battery Cells and Materials segment saw revenues increase by 395% to $287,397 in Q2-2026, with adjusted EBITDA improving to $43,388 from a loss of $217,876 in Q2-2025 [11]. Revenue Breakdown - Revenues from customers decreased from $32,636,947 in Q2-2025 to $26,928,115 in Q2-2026, primarily due to lower volume and tooling revenues [13]. - Other income increased from $483,939 in Q2-2025 to $652,175 in Q2-2026, attributed to grants and refundable tax credits for R&D programs [14]. Operational Insights - The adjusted EBITDA loss in the Advanced Materials segment was primarily due to a decrease in adjusted gross margin by $1,214,031, influenced by lower volume and tooling revenues [15]. - The Battery Cells and Materials segment's adjusted EBITDA improved due to increased revenues and other income [16]. Long-term Strategy - The company decided not to pursue a previously contemplated $100 million active anode material initiative, reflecting a disciplined approach to capital allocation [3].