Hybrid Power Solutions Reports Q3 2026 Financial Results
Toronto, Ontario — April 29, 2026 — Leads & Copy —
Hybrid Power Solutions Inc. (CSE: HPSS) (OTC: HPSIF) (FSE: E092) has released its financial results for the third quarter ending February 28, 2026, reporting a revenue of $488,308, a 75% sequential increase from the previous quarter. The company, which specializes in fuel-free clean power solutions, noted that while revenue was down 21% year-over-year, it saw improvements due to increased traction with enterprise customers and greater availability of capital.
According to CEO and Founder Francois Byrne, the company has been able to strengthen the foundation for sustained growth during the quarter. He said that Hybrid Power Solutions has invested in working capital, product development and business development. He added that this should help with growth in future quarters. He also noted growing momentum in the defense sector through product introductions, pilot deployments, and expanding sales activities.
The company reported a gross profit margin of 15.75% for the quarter, a decrease from 20.43% in the prior-year period. The company anticipates gross margin between 32-45% as the Company benefits from volume discounts on certain components and economies of scale on certain fixed costs.
Total expenses for the quarter were $830,818, a 5% decrease from the prior-year period, but up 15% from the previous quarter. The net loss was $762,027, compared to a net loss of $739,734 in the prior-year period and a $871,826 net loss in the previous quarter.
Hybrid Power Solutions closed the first tranche of its Listed Issuer Financing Exemption offering, raising gross proceeds of $1,014,899.94 through the issuance of 16,914,999 units at $0.06 per unit. The company also closed the final tranche of its offering, raising an additional $53,025 through the issuance of 883,750 units at $0.06 per unit.
As of April 28, 2026, the company’s available cash was approximately $189,000. The company invested a significant portion of the recently concluded financing into inventory during the quarter in order to deliver on recent orders.
Key business highlights for the quarter include securing orders for 12 Batt Pack units, commencing production of 11 Spark portable industrial battery systems for deployment through a leading national equipment rental company, and entering into a distribution agreement with Meyer Distributing.
The company also entered into a distribution partnership with Cantec Systems, targeting the military and defense sector across Canada, and received an initial purchase order from a leading global provider of AI-based security, drone protection, and drone deployment solutions for public safety and defense agencies. In addition, Hybrid Power Solutions completed the sale of a Spark Cube 30-kilowatt-hour rugged mobile power system for embassy infrastructure in Haiti, purchased on behalf of the Canadian Department of Foreign Affairs, Trade and Development.
The company also entered into a new distribution partnership with The Solar Store, a BBB-accredited, full-service solar photovoltaic contractor, supplier, and EPC company headquartered in London, Ontario. The company also executed a proof-of-concept development agreement with Reliable Robots, a Canadian provider of service robotics solutions.
Hybrid Power Solutions is currently monitoring $12.5 million in high potential, quoted opportunities across four primary industrial verticals and anticipates over 70% of this pipeline to materialize into firm contracts within the next 12 months. Sectors include Defence ($3.8 million), Construction ($3.5 million), Transit ($3.0 million), and Utilities ($2.2 million).
Hybrid Power Solutions Inc. specializes in developing portable power systems that eliminate the need for fossil fuels in off-grid and remote applications.
Source: Hybrid Power Solutions
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