NanoXplore Reports Results for its Q4-2025 and Full year 2025

MONTREAL, Sept. 16, 2025 (GLOBE NEWSWIRE) -- NanoXplore Inc. (“NanoXplore” or “the Corporation”) (TSX: GRA and OTCQX: NNXPF), a world-leading graphene company, today reported financial results for the year ended June 30, 2025.  

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

Key Financial Highlights Q4-2025

• Total revenues of $31,685,923 compared to $38,125,566 last year, representing a 17% decrease;
• Adjusted gross margin⁽¹⁾ on revenues from customers of 24.7% compared to 23.6% last year;
• Loss of $2,295,472 compared to $2,421,110 last year;
• Adjusted EBITDA⁽²⁾ of $2,475,379 compared to $2,488,304 last year;
• Adjusted EBITDA⁽²⁾ of $2,697,655 compared to $3,329,793 last year for the Advanced Materials, Plastics and Composite Products segment;
• Adjusted EBITDA⁽²⁾ loss of $222,276 compared to $841,489 last year for the Battery Cells and Materials segment;
• Total liquidity of $28,587,960 as at June 30, 2025, including cash and cash equivalents of $18,587,960;
• Total long-term debt of $4,312,924 as at June 30, 2025, down by $2,033,579 compared to June 30, 2024.

Key Financial Highlights Fiscal Year 2025

• Total revenues of $128,918,388 in 2025 compared to $129,992,368 in 2024, representing a 1% decrease;
• Adjusted gross margin⁽¹⁾ on revenues from customers of 22.3% in 2025 compared to 21.1% in last year;
• Loss of $9,657,120 compared to $11,665,006 last year;
• Adjusted EBITDA⁽²⁾ of $6,122,283 compared to $2,519,134 last year;
• Adjusted EBITDA⁽²⁾ of $6,847,826 in 2025 compared to $5,176,437 last year for the Advanced Materials, Plastics and Composite Products segment;
• Adjusted EBITDA⁽²⁾ loss of $725,543 in 2025 compared to $2,657,303 last year for the Battery Cells and Materials segment.

Overview

Pedro Azevedo, Chief Financial Officer, said: “After strong sales in the first half of the year, the second half was disappointing due to the macroeconomic environment in the United States. Nevertheless, while sales were similar to the previous year, our adjusted EBITDA⁽²⁾ more than doubled.  In addition, although less visible in the sales figures, collaboration with our partners on graphene usage and adoption has continued and remains a key strategic focus for NanoXplore.”

Soroush Nazarpour, President & Chief Executive Officer, said: “Our fourth quarter results highlight our strong execution despite a challenging business environment. As we enter FY2026, we are encouraged by the progress with prospective new customers, the upcoming opening of our U.S. facility as well as the continued work in close collaboration with a major partner in the oil and gas sector to develop a market-specific product for lubricity in drilling fluids that can also deliver impactful results across multiple industrial applications. Overall, we are pleased with our FY2025 performance and look forward to the next stage of NanoXplore’s growth.”

* Non-IFRS Measures

The Corporation prepares its results and financial information determined 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 periods and for the years ended June 30, 2025 and 2024.

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

_{⁽¹⁾ Non-operational items consist of professional fees mainly due debt renegotiation, prospectuses related fees and one-time fee related to a put-option agreement put in place in July 2022 which expired in July 2025.}


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 come from the Advanced Materials, Plastics and Composite Products segment, except for $83,604 and $24,028 respectively of revenues from customers and other income [2024 – nil and nil] from the Battery Cells and Materials segment.

Revenues from customers increased from $29,239,999 in Q3-2025 to $31,159,203 in Q4-2025. This increase is mainly due to higher tooling revenues.

Revenues from customers decreased from $37,717,688 in Q4-2024 to $31,159,203 in Q4-2025. This decrease is mainly due to lower volume partially offset by higher tooling revenues.

Other income increased from $407,878 in Q4-2024 to $526,720 in Q4-2025. Other income amounted to $1,206,166 in Q3-2025. 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 $3,329,793 in Q4-2024 to $2,697,655 in Q4-2025. The variation is explained as follows:

• Adjusted gross margin on revenues from customers decreased by $1,264,711 compared to last year due to lower volume partially offset by higher margins on tooling contract close-out, improved productivity and cost control;
• Partially offset by lower Selling, General & Administration (“SG&A”) and Research & Development (“R&D”) expenses by $727,539 mainly due to lower variable compensation accrual (excluding Non-operational items of $1,600,000).

      2)   From Battery Cells and Materials

The adjusted EBITDA loss decreased from $841,489 in Q4-2024 to $222,276 in Q4-2025. The variation is explained by the decrease of SG&A and R&D expenses of $528,355 and higher revenues from customers and other income of $107,632.

B.   Results of operations variance analysis – Year ended

Revenues

All revenues come from the Advanced Materials, Plastics and Composite Products segment, except for $83,604 and $590,936 respectively of revenues from customers and other income [2024 – nil and $27,743] from the Battery Cells and Materials segment.

Revenues from customers decreased from $128,600,936 last year to $126,363,218 this year. This decrease is mainly due to lower volume partially offset by higher tooling revenues.
Other income increased from $1,391,432 last year to $2,555,170 this year. 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 improved from $5,176,437 last year to $6,847,826 this year. The variation is explained as follows:

• Adjusted gross margin on revenues from customers increased by $981,697 compared to last year due to improved productivity, favourable US dollar and cost control;
• Higher other income of $600,545 as described above.

      2)   From Battery Cells and Materials

The adjusted EBITDA loss decreased from $2,657,303 last year to $725,543 this year. The variation is explained by the decrease of SG&A and R&D expenses of $1,284,963 and higher revenues from customers and other income of $646,797.

C.   Other

Additional information about the Corporation, including the Corporation’s Management Discussion and Analysis for the years ended June 30, 2025 and 2024 (“MD&A”) and the Corporation’s consolidated financial statements for the for years ended June 30, 2025 and 2024 (the “financial statements”) can be found at www.nanoxplore.ca.

Webcast

NanoXplore will hold a webcast tomorrow, September 17, 2025, at 10:00 am EDT to review its year ended June 30, 2025. Soroush Nazarpour, 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/sgme9spg  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

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

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:
        
Pierre Yves Terrisse
Vice-President Corporate Development
py.terrisse@nanoxplore.ca
Tel: 1 438 476-1965
__________________

_{⁽¹⁾ Adjusted gross margin is a non-IFRS measure and a reconciliation can be found in the “Overall Results” section of the Management’s Discussion and Analysis
⁽²⁾ Adjusted EBITDA is a non-IFRS measure and a reconciliation can be found in the “Overall Results” section of the Management’s Discussion and Analysis}

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