Core Viewpoint - EnWave Corporation reported a significant increase in revenue and improvements in gross margin for Q1 2026, driven by large-scale machine sales and increased royalties, despite a net loss in continuing operations [3][2]. Financial Performance - Revenues for Q1 2026 reached CAD 1,600,000, a 36% increase from CAD 1,177,000 in Q1 2025 [2]. - Direct costs rose to CAD 1,006,000, up 20% from CAD 837,000 in the previous year [2]. - Gross margin improved to CAD 594,000, representing a 75% increase compared to CAD 340,000 in Q1 2025, with a gross margin percentage of 37% versus 29% in the prior year [2][3]. - Operating expenses totaled CAD 1,468,000, a 16% increase from CAD 1,268,000 in Q1 2025, with notable increases in general and administration, sales and marketing, and research and development costs [2][3]. - The net loss from continuing operations was CAD 1,108,000, an 18% increase from CAD 938,000 in the previous year [2][6]. - Adjusted EBITDA loss was CAD 585,000, showing an improvement of CAD 50,000 from CAD 635,000 in Q1 2025 [3][6]. Revenue Drivers - The increase in revenue was attributed to large-scale machine sales and a rise in royalties, with base royalties for Q1 2026 at CAD 500,000, an 18% increase from the previous year [3]. - Total royalty revenue for Q1 2026 was CAD 627,000, a 12% increase from the prior year [3]. Corporate Developments - EnWave signed several Commercial License Agreements (CLAs) with partners, including a CLA with Gowen Gumlu Grower's Association in Australia and Shinyway International Limited in New Zealand [9]. - The company continues to expand its global presence with over fifty partners across twenty-four countries [8]. Technology and Market Position - EnWave is recognized as a leader in vacuum microwave dehydration technology, offering significant advantages over traditional drying methods in terms of efficiency and product quality [7][10].

Core Insights - EnWave Corporation reported significant financial growth in Q4 2025, with revenues increasing by 71% year-over-year to CAD 6,219,000, and a net income from continuing operations of CAD 928,000, marking a 58% increase compared to the previous year [1][2][4] Financial Performance - Q4 2025 revenues reached CAD 6,219,000, up from CAD 3,634,000 in Q4 2024, representing a 71% increase [2] - For the fiscal year ended September 30, 2025, total revenues were CAD 13,829,000, a 69% increase from CAD 8,181,000 in 2024 [2][10] - Direct costs for Q4 2025 were CAD 3,667,000, a 67% increase from CAD 2,192,000 in Q4 2024 [2] - Gross margin for Q4 2025 was 41%, slightly up from 40% in Q4 2024, driven by a favorable production mix [4][10] - Adjusted EBITDA for Q4 2025 was CAD 1,407,000, a 213% increase from CAD 450,000 in Q4 2024 [2][4] Royalty Revenue - Base Royalties for Q4 2025 were CAD 481,000, a 31% increase from CAD 368,000 in Q4 2024 [4] - Total royalty revenue for Q4 2025 was CAD 481,000, down 25% from CAD 642,000 in Q4 2024, due to a change in exclusivity agreements with a partner [4][10] Operating Expenses - SG&A expenses, including R&D, increased to CAD 5,585,000 for the year ended 2025, up from CAD 5,308,000 in 2024, primarily due to increased marketing and sales personnel costs [10] - Operating expenses for Q4 2025 included CAD 571,000 in general and administration, CAD 553,000 in sales and marketing, and CAD 389,000 in research and development [2] Corporate Developments - EnWave signed multiple equipment purchase agreements and commercial licenses in Q4 2025, expanding its partnerships and product offerings [10] - The company closed a private placement of 7,500,000 common shares at CAD 0.40 per share, raising gross proceeds of CAD 3,000,000 [10]

Core Insights - EnWave Corporation has signed a royalty-bearing commercial license agreement with a U.S. snack company for ultra-healthy fruit and vegetable-based products [1][3] - The Licensee has confirmed its product as the "healthiest salty snack ever produced" [1] - The collaboration has led to the purchase of a 10kW Radiant Energy Vacuum (REV™) dehydration machine for initial commercial production [2] Company Overview - EnWave is a leader in vacuum microwave dehydration technology, with a strong intellectual property portfolio and proven drying solutions for various industries [5] - The company has over fifty partners across twenty-four countries, enhancing product quality and market speed through its patented technology [6] - EnWave's strategy focuses on signing commercial licenses with food producers to improve drying efficiency and product quality [7] Product Launch and Market Expansion - The Licensee plans to launch its REV™-dried products in Mexico in Q1 2026, with U.S. market expansion anticipated in 2027 [3] - The Licensee has secured global rights to produce its proprietary snack products under the terms of the Commercial License [3] - Further details about the Licensee will be disclosed during the official product launch in 2026 [4]

Core Insights - EnWave Corporation has signed an Equipment Purchase Agreement with BranchOut Foods Inc. for a 120kW Radiant Energy Vacuum dehydration machine, marking the fourth large-scale REV™ machine acquired by BOF for its Peru production facility [1] - A License Amendment was also signed, granting BOF exclusive global rights to produce dragon fruit products using REV™ technology, with EnWave agreeing not to grant additional licenses for dragon fruit production as long as BOF meets minimum royalty requirements [2] Company Overview - BranchOut Foods Inc. specializes in high-quality dehydrated fruit and vegetable products using EnWave's REV™ technology, which preserves up to 95% of the original nutrition of fresh produce and is protected by over 17 patent families [3] - EnWave is a leader in vacuum microwave dehydration technology, with a robust intellectual property portfolio and a focus on providing efficient, scalable drying solutions for various industries, including food, pharmaceuticals, and cannabis [4][5] Strategic Positioning - EnWave's strategy involves signing royalty-bearing commercial licenses with food producers to enhance drying efficiency compared to traditional methods, allowing for faster moisture level optimization and improved product quality [6]

Core Insights - EnWave Corporation has signed a new royalty-bearing commercial license agreement with MicroDried® to expand its product offerings and has executed purchase agreements for three Radiant Energy Vacuum (REV™) machines [2][3][4] Group 1: License Agreement Details - MicroDried® gains exclusive rights to use EnWave's REV™ dehydration technology for producing mochi and Greek yogurt in North America, along with rights to manufacture additional dairy products like shredded cheese and cheesecake [3][15] - In exchange for these expanded rights, MicroDried® will pay incremental minimum annual royalties in addition to existing obligations under its fruit and vegetable license [3][16] Group 2: MicroDried® Expansion - MicroDried® is expanding its portfolio to include clean-label, nutrient-dense dairy and mochi ingredients, enhancing its position as a key supplier to major global food brands [4][17] - The company operates three large-scale vacuum-microwave drying lines in Nampa, Idaho, and is opening a new dairy processing facility in Washington State, expected to be operational this summer [5][18] Group 3: Equipment and Capacity - MicroDried® will install one of the newly purchased 10kW REV™ units and a 60kW machine at the new Dairy Facility, with the second 10kW machine designated for ongoing product development in Nampa [5][18] - With five large-scale REV™ machines, MicroDried® now holds the highest REV™ manufacturing capacity globally, prompting EnWave to begin building another large-scale REV™ machine for inventory [6][19] Group 4: Company Background - EnWave is a leader in vacuum microwave dehydration technology, with a robust intellectual property portfolio and a strategy to sign royalty-bearing commercial licenses with food producers [10][12][24] - The company has over fifty royalty-generating partners across twenty-four countries, enabling the creation of innovative snacks and ingredients [11][24]

Core Insights - EnWave Corporation has received a second progress payment from Procescir S.A. de C.V. for a 120kW Radiant Energy Vacuum (REV™) machine, aimed at commercial production of fruit and vegetable products in Mexico [1][2] - Procescir will utilize the REV™ machine to produce private-label and branded snack products, alongside a two-year toll drying agreement with a leading American healthy snack company, enhancing EnWave's royalty portfolio [2][3] Company Overview - EnWave is a leader in vacuum microwave dehydration technology, with a strong intellectual property portfolio and a focus on providing efficient, scalable drying solutions for the food, pharmaceutical, and cannabis industries [5][6] - The company has over fifty royalty-generating partners across twenty-four countries, enabling them to create innovative snacks and ingredients while improving product quality and market speed [6][7] Strategic Developments - In anticipation of the payment from Procescir, EnWave began manufacturing the 120kW REV™ machine in late 2024, with delivery scheduled for July 2025 [3] - Concurrently, EnWave will start building an additional large-scale REV™ machine to meet future sales demands [3]

Core Insights - EnWave Corporation has signed an Equipment Purchase Agreement and License Amendment with MicroDried, enhancing their long-standing partnership [1][4] - MicroDried, a leading producer of premium fruit and vegetable ingredients, has utilized EnWave's REV™ technology since 2012 to provide high-quality, nutrient-dense products [2][3] Equipment Purchase Agreement - MicroDried will acquire an additional 60kW REV™ machine to increase production capacity in response to growing demand for its clean-label ingredients [3] - The agreement includes an option for MicroDried to purchase a second 60kW REV machine by July 31, 2025, with a pre-agreed bulk discount [3] License Amendment - The License Amendment grants MicroDried exclusive rights to use REV™ technology for apple ingredient production in Washington, Oregon, and Idaho, reinforcing its market leadership [4] MicroDried's Operations - MicroDried operates a state-of-the-art facility in Nampa, Idaho, with three large-scale vacuum-microwave drying lines and additional IQF production lines in Grandview, Washington [5] - The company emphasizes automation and food safety, maintaining top-tier certifications including BRC AA ratings and USDA Organic certification [6] EnWave's Technology and Strategy - EnWave is a leader in vacuum microwave dehydration, with a robust intellectual property portfolio and a focus on providing scalable drying solutions across various industries [8][10] - The company has over fifty royalty-generating partners globally, enabling them to create innovative snacks and ingredients while improving product quality [9]