Hybrid Power Solutions Inc. (CSE: HPSS) has reported its financial results for the fourth quarter and fiscal year ended May 31, 2026, highlighting a dramatic acceleration in quarterly revenue and a narrowing net loss. Fourth quarter revenue reached $886,333, up 707% year over year, driven by higher sales volumes across its Spark and Terra portable power systems. The results signal a meaningful second-half recovery after a weaker first half weighed on full-year figures, and the company's sales pipeline has grown to approximately $19.3 million as of September 22, 2026.

Key Points

  • Hybrid Power Solutions Inc. (CSE: HPSS | OTC: HPSIF | FSE: E092)
  • Q4 fiscal 2026 revenue of $886,333 rose 707% year over year and 82% from Q3 fiscal 2026
  • Full-year fiscal 2026 net loss narrowed 10% to $2,631,007 ($0.03 per share); cash rose to $234,500 from $62,997
  • Investors may be watching pipeline conversion progress and margin improvement as volumes grow

Q4 Revenue Surge Reflects Higher Spark and Terra System Deliveries

Hybrid Power Solutions recorded Q4 product revenue of $878,183, up sharply from $101,696 a year earlier, as deliveries of Terra battery packs and new Spark systems increased. The quarterly gross loss narrowed substantially to $65,225 from $446,387 in the prior-year period, with management attributing the improvement to fixed production costs being spread across a larger revenue base and the absence of an inventory write-off recorded in Q4 fiscal 2025. The quarterly net loss of $369,467 represented a 52% improvement from the $762,027 net loss posted in Q3 fiscal 2026.

Full-Year Fiscal 2026 Results Reflect First-Half Weakness Before Recovery

For the full fiscal year, revenue totalled $1,953,011, down 30% from $2,801,100 in fiscal 2025, as softer first-half volumes offset the second-half rebound. Annual gross profit was $70,526, yielding a gross margin of 3.6%, compared with 11.0% in fiscal 2025, with the compression largely attributed to the reallocation of $248,819 in research and development costs to cost of sales. Operating expenses fell 15% to $2,759,157, reflecting lower advertising and professional fee expenditures. The company closed the fiscal year with cash of $234,500, up from $62,997 at May 31, 2025.

Record Order Wins and Sector Diversification Anchor Fiscal 2026 Business Highlights

During fiscal 2026, the company secured its largest-ever purchase order — over C$1.5 million from distributor LMDH Equipment Sales — and received its first order from MTA New York City Transit. The company also expanded into defence and public safety through a partnership with Cantec Systems, broadened North American distribution, and completed an embassy infrastructure sale in Haiti on behalf of Canada's Department of Foreign Affairs, Trade and Development. Subsequent to fiscal year end, the company closed two non-brokered private placements raising a combined $2,314,500 in gross proceeds.

Pipeline Reaches $19.3 Million Across OEM, Rental, Defence and Other Sectors

The company's sales pipeline as of September 22, 2026, totalled approximately $19.3 million, comprising roughly $1.5 million in booked backlog and approximately $17.8 million in active, quoted opportunities spanning October 2026 to September 2028. OEM opportunities represent the largest segment at 29% of the pipeline, followed by rental and construction at 20%. The company also corrected a September 18, 2026 news release, noting it paid aggregate cash finder's fees of $15,000 and issued 300,000 finder warrants in connection with a recent private placement, revising figures previously reported in error.