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NanoXplore (GRA) investor relations material
NanoXplore Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2-2026 saw sequential improvements in revenue, gross margin, and adjusted EBITDA, reflecting a rebound in operating performance and stronger fundamentals.
The decision was made not to proceed with the CAD 100 million ($100 million) CSPG project, reallocating capital to lower-risk, higher-return opportunities and core operations.
The dry process graphene platform was completed on schedule and budget, with the first commercial module expected operational by April, expanding addressable markets and cost leadership.
Successful launches with Club Car and a new contract award from Volvo Trucks strengthen long-term revenue visibility and support future growth.
Strategic collaboration with Chevron Phillips Chemical (CPChem) is advancing, with new product launches and field testing underway.
Financial highlights
Q2 revenues were CAD 27.6 million ($27.6M), down 17% year-over-year, mainly due to lower volumes from the two largest customers and reduced tooling revenue.
Adjusted gross margin rose slightly to 21.5% from 21.3% last year, despite lower revenues, driven by higher-margin powder sales and the Club Car program.
Adjusted EBITDA was CAD 224,000 ($224K), a decrease of CAD 880,000 year-over-year.
Ended the quarter with CAD 30.1 million ($30.1M) in cash and CAD 14.6 million in debt; total liquidity was CAD 40.1 million ($40.1M).
Net loss of $3.8M compared to a $2.9M loss in Q2-2025.
Outlook and guidance
Revenue guidance for fiscal 2026 is CAD 115 million to CAD 120 million, with sequential quarterly growth expected after a Q1 trough.
Gross margins are expected to gradually improve to 22–23% over the next few quarters as volumes recover and product mix shifts.
CapEx is projected at CAD 4–5 million in Q3, then to decrease to under CAD 1 million per quarter thereafter.
Management expects continued sequential financial improvement, driven by new customer momentum and stabilized volumes from key accounts.
Gradual volume improvement is anticipated in the second half of the year, with industry recovery and new contracts contributing.
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