- Progressive Planet (TSXV:PLAN) set new records for Q4 and annual revenue in the fiscal year ended April 30, 2026, maintaining profitability while investing heavily in long-term growth.
- The Kamloops, British Columbia-based company leverages owned mineral assets and recycled materials to develop proprietary environmental products spanning construction, agriculture and animal health.
- The environmental stock last traded at C$0.38 and has added 58.33 per cent year-over-year.
Progressive Planet (TSXV:PLAN) set new records for Q4 and annual revenue in the fiscal year ended April 30, 2026, maintaining profitability while investing heavily in long-term growth.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
Financial highlights
- Revenue for Q4 came in at C$6,505,499, up by 41.5 per cent year-over-year (YoY) from C$4,598,639, representing the highest quarterly figure in company history. Annual revenue reached C$23,200,596, up by 18.9 per cent YoY from C$19,518,077.
- Gross profit was C$8,305,461, up by 37 per cent YoY from C$6,063,780, with gross margin increasing from 31 to 36 per cent.
- Income from operations was C$1,642,375, down by 8 per cent YoY because of a large, one-time promotional expense and significant R&D costs related to the company’s PozGlass pilot plant. PozGlass re-routes post-consumer glass back into the cement supply chain, reducing emissions in one of the world’s highest-polluting industries.
- Selling expenses came to C$2,065,657, up by 55 per cent YoY from C$1,330,938, reflecting a one-time slotting fee to launch three new SKUs with a large US retailer, as well as higher personnel costs related to an expanded sales team.
- R&D costs climbed to C$1,563,726, up by 390 per cent YoY from C$319,212, given non-capital expenses tied to the PozGlass pilot plant, hiring a Chief Technical Officer, and the opening of a cement materials research lab in Calgary to develop Planet LCD, Progressive Planet’s second cement product.
- Impairment of exploration and evaluation assets was C$1,209,349, up from C$24,059 YoY, as the company wrote off a legacy exploration asset.
- Cash fell to C$2,247,720, down from C$5,428,513, reflecting major investments in property, plant and equipment, including C$3,761,620 for an extension and associated equipment at the PozGlass pilot plant.
- Credit available for draw down was C$3 million at quarter-end.
Leadership commentary
“We are delighted to see a major increase in revenue for Q4 and the full year. This year, we invested a record C$6.7 million into property, plant and equipment. Much of the capital invested was for equipment that typically lasts for decades. We invested to enable aggressive growth of revenue in our core business while investing in the future via the PozGlass pilot plant. We will continue to invest heavily for future growth over the next year,” Steve Harpur, Chief Executive Officer of Progressive Planet, said in Wednesday’s news release.
About Progressive Planet Solutions
Progressive Planet, based in Kamloops, British Columbia, leverages owned mineral assets and recycled materials to develop proprietary environmental products spanning construction, agriculture and animal health. The company’s products are available in more than 10,000 retail locations across North America.
Progressive Planet stock (TSXV:PLAN) last traded at C$0.38 and has added 58.33 per cent year-over-year.
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