NanoXplore Inc. (TSX: GRA | OTCQX: NNXPF), a global graphene leader based in Montréal, has released its financial results for the fiscal year ended June 30, 2026, reporting total annual revenues of $117.3 million compared with $128.9 million in fiscal 2025, a decline of 9%. Despite the annual revenue dip, the company posted a 7% quarterly revenue gain in Q4 2026 and issued forward revenue guidance of between $130 million and $140 million for fiscal 2027, and between $160 million and $170 million for fiscal 2028. Investors may be watching whether operational pivots in graphene products and battery cells can translate the projected recovery into measurable earnings improvement.

Key Points

  • NanoXplore Inc. (TSX: GRA | OTCQX: NNXPF) released full fiscal year 2026 and Q4 2026 financial results
  • Full-year net loss widened to $11.8 million from $9.7 million in fiscal 2025; Q4 net loss narrowed to $1.6 million from $2.3 million year-over-year
  • Total liquidity of $30.0 million as at June 30, 2026, including $25.0 million in cash; long-term debt rose by $6.2 million to $10.6 million
  • Investors may be watching commercial progress across drilling fluids, insulating foams, industrial plastic films, and VoltaXplore's defence and drone battery pivot

NanoXplore Q4 and Full-Year 2026 Revenue and Margin Performance

Q4 2026 total revenues reached $33.9 million, up 7% from $31.7 million in Q4 2025. However, adjusted gross margin on customer revenues contracted to 22.5% from 24.7% over the same period. For the full fiscal year, revenues fell 9% to $117.3 million, and adjusted gross margin declined modestly to 21.3% from 22.3%. Adjusted EBITDA for the full year came in at $1.9 million, sharply lower than $6.1 million in fiscal 2025. The advanced materials, plastics and composite products segment contributed $2.1 million in adjusted EBITDA, while the battery cells and materials segment posted an adjusted EBITDA loss of $226,908.

Graphene Product Commercialisation Progress Across Multiple Market Verticals

NanoXplore reported advancing commercial activity across several graphene product categories. Its TriboGraf® drilling fluid additive, marketed by Chevron Phillips Chemical as NanoSlide®, is being sampled with multiple potential clients following the loss of one initial customer for reasons unrelated to product performance. In insulating foams, a major customer is finalising approvals to begin purchasing approximately 1,000 metric tonnes per year of graphene-containing masterbatch. The company also disclosed a letter of intent with a global polyurethane foam materials leader and ongoing qualification processes in industrial plastic films with brands including Hefty and Glad, with graphene orders expected to begin in the second half of fiscal 2027.

VoltaXplore Reoriented Toward Defence and Drone Battery Markets

VoltaXplore Inc., NanoXplore's wholly owned subsidiary, has been strategically repositioned away from electric vehicles toward high-power battery cells for drones, unmanned ground vehicles, and defence clients in Canada and the United States. The Montreal facility operates a 1 MWh cylindrical battery production capacity producing 21700-format cells. The company stated VoltaXplore is targeting supply to the Canadian Armed Forces and the Department of National Defence, directly or through module and battery manufacturing partners. The subsidiary continues to benefit from federal support programmes through Natural Resources Canada and the National Research Council's Industrial Research Assistance Program.

Fiscal 2027 and 2028 Revenue Guidance and Strategic Priorities

Management issued guidance of $130 million to $140 million in total revenues for fiscal 2027, representing projected growth of 11% to 20% over fiscal 2026. Fiscal 2028 guidance was set at $160 million to $170 million. The company also stated it expects to generate positive free cash flow in fiscal 2027, which it characterised as a record level for NanoXplore. A $35 million graphene-enriched solutions opportunity portfolio was cited as expected to be deployed over 18 months. New Volvo sheet moulding compound and existing programmes with Paccar and Club Car are among the near-term revenue contributors identified.