MONTREAL, May 13, 2026 (GLOBE NEWSWIRE) -- NanoXplore Inc. (“NanoXplore” or “the Corporation”) (TSX: GRA and OTCQX: NNXPF), a world-leading graphene company, reported its financial results today for the three-month and nine-month periods ended March 31, 2026.

All amounts in this press release are in Canadian dollars, unless stated otherwise.

Key Financial Highlights Q3-2026

• Total revenues of $32,347,377 compared to $30,446,165 last year, representing a 6% increase;
• Adjusted gross margin⁽¹⁾ on revenues from customers of 22.9% compared to 22.4% last year;
• Loss of $2,646,921 compared to a loss of $1,747,714 last year;
• Adjusted EBITDA⁽²⁾ of $1,179,521 compared to $1,420,555 last year;
• Adjusted EBITDA⁽²⁾ of $1,237,132 compared to $1,318,149 last year for the Advanced Materials, Plastics and Composite Products segment;
• Adjusted EBITDA⁽²⁾ loss of $57,611 compared to an adjusted EBITDA⁽²⁾ of $102,406 last year for the Battery Cells and Materials segment;
• Total liquidity of $34,401,126 as at March 31, 2026, including cash and cash equivalents of $24,401,126;
• Total long-term debt of $16,118,123 as at March 31, 2026, higher by $11,805,199 compared to June 30, 2025.
  
  

Overview

Rocco Marinaccio, President & Chief Executive Officer, stated: “We have committed to provide our shareholders with improved performance and execution, and our Q3 financial results delivered on that commitment as demonstrated by a revenue increase of 17% over Q2, and 38% over Q1.   The revenue trajectory we have built since Q1 reflects disciplined execution against the priorities we set, and while there is more work to do, Q3 demonstrates that the fundamentals of our growth model are intact. On the operational front, our dry-process manufacturing module is installed and is currently being commissioned.  We have also introduced our first product, xGnP^TM D-500HP, with outstanding performance characteristics to compete directly with conductive carbon black.  Our focus in the coming quarters remains on expanding our business by executing on our strategy for dry-process graphene and graphene-enhanced solutions to deliver continued growth.”

Pedro Azevedo, Chief Financial Officer, stated: “We are encouraged by our Q3 performance, which saw sequential revenue growth and improvement in adjusted EBITDA. Since Q1, sales have increased by 38%, clearly showing that Q1 represented the low point. Volumes from our two largest customers grew compared to Q2, and the full quarter contributions from both CP Chem and Club Car also supported the results.   We will continue to build on the momentum generated in the last two quarters to end the year on a strong note.”

* Non-IFRS Measures

The Corporation prepares its financial statements under IFRS. However, the Corporation considers certain non-IFRS financial measures as useful additional information in measuring the financial performance and condition of the Corporation. These measures, which the Corporation believes are widely used by investors, securities analysts and other interested parties in evaluating the Corporation’s performance, do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies, nor should they be construed as an alternative to financial measures determined in accordance with IFRS. Non-IFRS measures include "Adjusted EBITDA” and “Adjusted gross margin”.

The following tables provide a reconciliation of IFRS “Loss” to Non-IFRS “Adjusted EBITDA” and of IFRS “Gross margin” to Non-IFRS “Adjusted Gross margin” for the three-month and nine-month periods ended March 31, 2026 and 2025.

IFRS “Loss” to Non-IFRS “Adjusted EBITDA”

⁽¹⁾ Non-operational items consist of professional fees mainly due to debt renegotiation and to prospectuses related fees.

IFRS “Gross margin” to Non-IFRS “Adjusted Gross margin”

Reporting Segments results

NanoXplore reports its financials in two distinct segments: Advanced Materials, Plastics and Composite Products and Battery Cells and Materials.

A. Results of operations variance analysis - Three-month periods

Revenues

All revenues are coming from the Advanced Materials, Plastics and Composite Products segment, except for $323,656 of revenues from Other income [Q3-2025 – $525,567] from the Battery Cells and Materials segment.

Revenues from customers increased from $29,239,999 in Q3-2025 to $31,656,876 in Q3-2026. This increase is mainly due to higher volume and higher tooling revenues.

Other income decreased from $1,206,166 in Q3-2025 to $690,501 in Q3-2026. The variation is due to grants and refundable tax credits received for Research & Development (“R&D”) programs.

Adjusted EBITDA

      1) From Advanced Materials, Plastics and Composite Products

The adjusted EBITDA decreased from $1,318,149 in Q3-2025 to $1,237,132 in Q3-2026. The variation is explained as follows:

• Lower Other income of $313,754;
• Higher selling, general & administration expenses and R&D expenses (“Operational expenses”) of $391,288;
• Partially offset by:
  • Adjusted gross margin on revenues from customers increased by $694,033 compared to last year due to higher volume and higher tooling revenues, improved productivity and cost control.
    
    

      2) From Battery Cells and Materials

The adjusted EBITDA decreased from $102,406 in Q3-2025 to an adjusted EBITDA loss of $57,611 in Q3-2026. The variation is explained by a decrease of Other income of $201,911.

B. Results of operations variance analysis – nine-month periods

Revenues

All revenues are coming from the Advanced Materials, Plastics and Composite products segment, except for $127,004 of revenues from customers and $763,164 from Other income [YTD 2025 – nil and $566,908 respectively] coming from the Battery Cells and Materials segment.

Revenues from customers decreased from $95,204,015 in the same period last year to $81,571,908 in the current period. This decrease is mainly due to lower volume and tooling revenues.

Other income decreased from $2,028,450 in the same period last year to $1,798,410 in the current period. The variation is due to grants and refundable tax credits received for R&D programs.

Adjusted EBITDA

      1)   From Advanced Materials, Plastics and Composite Products

The adjusted EBITDA decreased from $4,150,179 in the same period last year to $99,341 in the current period. The variation is explained as follows:

• Adjusted gross margin on revenues from customers decreased by $3,594,188 compared to last year due to lower volume and lower tooling revenues partially offset by higher powder sales, improved productivity and cost control;
• Lower Other income of $426,296;
• Partially offset by lower Operational expenses of $270,654.
  
  

      2)   From Battery Cells and Materials

The adjusted EBITDA loss improved from a loss of $503,275 in the same period last year to $85,566 in the current period. The variation is explained by an increase of revenues from customers and of Other income of $127,004 and $196,256 respectively and by lower Operational expenses of $94,441.

C. Other

Additional information about the Corporation, including the Corporation’s Management Discussion and Analysis for the three-month and nine-month periods ended March 31, 2026 and 2025 (“MD&A”) and the Corporation’s consolidated financial statements for the three-month and nine-month periods ended March 31, 2026 and 2025 (the “financial statements”) can be found at www.nanoxplore.ca.

Webcast

NanoXplore will hold a webcast tomorrow, May 14, 2026, at 10:00 am EST to review its three-month and nine-month periods ended March 31, 2026. Rocco Marinaccio, CEO and President of NanoXplore, and Pedro Azevedo, Chief Financial Officer, will host the event. To access the webcast please click on the link https://edge.media-server.com/mmc/p/7uqzfzsw or you can access through our website in the Investors section under Events and Presentations. A replay of this event can be accessed via the above link or on our website.

About NanoXplore Inc.

NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in transportation and industrial markets. The Company provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. The Company is also a silicon-graphene enhanced Li-ion battery manufacturer for the energy storage, defense, and industrial markets. NanoXplore is headquartered in Montreal, Quebec with manufacturing facilities in Canada, the United States and Europe.  Please visit www.nanoxplore.ca.  

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, and subject to risks and uncertainties. All forward-looking statements are based on our beliefs as well as assumptions based on information available at the time the assumption was made and on management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors deemed appropriate in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Forward-looking statements are not facts, but only predications and can generally be identified by the use of statements that include phrases such as “anticipate, “believe”, “continue”, “could”, “estimate”, “foresee”, “grow”, “expect”, “plan”, “intend”, “forecast”, “future”, “guidance”, “may”, “predict”, “project”, “should”, “strategy”, “target”, “will”, or similar expressions suggesting future outcomes.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Such forward-looking information necessarily involves known and unknown risks and uncertainties, including the relevant assumptions and risks factors set out in NanoXplore’s most recent annual management discussion and analysis filed on SEDAR+ at www.sedarplus.ca, which may cause NanoXplore’s actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. These risks, uncertainties and other factors include, among others, the uncertain and unpredictable condition of global economy, notably as a consequence of the Covid-19 pandemic. Any forward-looking information is made as of the date hereof and, except as required by law, NanoXplore does not undertake any obligation to update or revise any forward–looking statement as a result of new information, subsequent events or otherwise.

Forward-looking statements reflect management’s current beliefs, expectations and assumptions and are based on information currently available to management. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated by such statements.

No securities regulatory authority has either approved or disapproved the contents of this press release.

For further information, please contact:
        
Pedro Azevedo
Chief Financial Officer
pedro.azevedo@nanoxplore.ca
Tel: 1 438 476-1973

⁽¹⁾ Adjusted gross margin is a non-IFRS measure and a reconciliation can be found in the “Overall Results” section.
⁽²⁾ Adjusted EBITDA is a non-IFRS measure and a reconciliation can be found in the “Overall Results” section.