- Delivered a Record 2,459 Charging Ports, +305% Year-Over-Year
- Recognized Record Revenue of $10.1 Million, +227% Year-Over-Year
- Annual Gross Profit Record of $2.3 Million, +131% Year-Over-Year
--> WATCH - Hypercharge Fiscal 2025 Results Presentation:
https://www.youtube.com/watch?v=0iO4W624D4c
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2025) - Hypercharge Networks Corp. (TSXV: HC) (OTCQB: HCNWF) (FSE: PB7) (the "Company" or "Hypercharge"), a leading, smart electric vehicle (EV) charging solutions provider and network operator, is announcing the release of its audited financial results for the fourth quarter and fiscal year ended March 31, 2025, and related management discussion and analysis. All dollar figures are in Canadian Dollars, unless otherwise stated.
"Fiscal 2025 was a breakout year for Hypercharge, marked by record-setting revenue, gross profit, and network growth. During the fiscal year ended March 31, 2025, we delivered over 2,450 charging ports, including 76 DC fast chargers, and doubled our registered user base to more than 25,000, reinforcing our position in key North American markets.
"Despite broader industry headwinds and a challenging capital environment, we navigated the year with discipline, reducing operating expenses by 28%, while continuing to invest in platform innovation, recurring revenue programs, and key hires to strengthen our execution.
"Our top priority remains managing cash efficiently while advancing toward profitable growth. The decisions we're making now around capital, people, and partnerships are investments we believe will define the next phase of Hypercharge's trajectory and bring us closer to sustainable profitability."
- David Bibby, President and CEO of Hypercharge
Business and Pipeline Highlights (for the year ended March 31, 2025):
- Record Annual Revenue: The Company achieved its highest annual revenue in its history, reporting recognized revenue of $10,055,246, an increase of $6,983,139 (227%) compared to the prior fiscal year, driven by strong market demand and the successful sale and delivery of customer orders.
- Record Gross Profit: The Company reported record gross profit of $2,275,572 for the year ended March 31, 2025, an increase of $1,290,805 (131%) compared to the prior fiscal year. The improvement reflects higher revenue recognition and continued margin performance across key segments.
- Record Operating Expense Reduction: The Company's operating expenses for the year totaled $6,593,380, reflecting a decrease of $2,514,699 (28%) compared to the prior fiscal year. This reduction was driven by the Company's strategic focus on cost control and operational efficiency.
- The Company's sales backlog increased to $9,058,105 as at March 31, 2025, up $2,756,565 (44%) compared to the prior fiscal year.
- Surpassed 5,500 charging ports sold across Canada and the United States, an increase of over 83% compared to the prior fiscal year, reinforcing Hypercharge's continued momentum in deploying charging infrastructure.
- Delivered 76 DC fast charging ports to various customers, including 62 DC fast charging ports to a Western Canadian energy infrastructure provider, completing a significant portion of the Company's backlog and recognized associated revenue within the fiscal year.
- Grew registered users on the Hypercharge mobile app to over 25,000 as of March 31, 2025, reflecting strong adoption and user engagement.
- Advanced partnership with Precise ParkLink Inc. by activating EV charging functionality within the Parkedin mobile app, powered by the Company's proprietary software platform, Eevion.
- Completed in April 2025, a non-brokered private placement, raising aggregate gross proceeds of $1,892,084, significantly strengthening the Company's balance sheet and enabling investment in operational growth and sales capabilities.
Financial Highlights (for the fiscal year ended March 31, 2025):
The Company recognized annual revenue of $10,055,246, an increase of $6,983,139 (227%) compared to the fiscal year ended March 31, 2024, representing the highest annual revenue in the Company's history. The Company's sales backlog increased to $9,058,090 as of March 31, 2025, a 44% increase year-over-year, providing strong visibility into future growth.
Operating expenses totaled $6,593,380 for the year ended March 31, 2025, a 28% decrease compared to the prior year. The reduction was primarily driven by lower general and administrative expenses, including reduced consulting, professional fees, and share-based payments.
The Company's gross profit increased to $2,275,572; a 131% increase compared to fiscal 2024. Gross profit percentage declined from 32% to 23%, primarily due to a higher volume of Level 3 DC fast charging station sales, which carry a lower margin but significantly increased gross profit in absolute terms.
Net and comprehensive loss for the fiscal year ended March 31, 2025, improved 46% to $4,311,253, or ($0.06) per basic and diluted share, compared to a net loss of $8,004,078, or ($0.12) per basic and diluted share, during the year ended March 31, 2024.
Financial Highlights (for the three months ended March 31, 2025):
The Company recognized quarterly revenue of $2,799,603, an increase of $1,732,125 (162%) compared to the three months ended March 31, 2024. The Company delivered 837 charging ports in the quarter, including 6 DC fast chargers, contributing to strong top-line growth and customer expansion.
Operating expenses totaled $1,738,656 for the three months ended March 31, 2025, a 9% decrease from the prior year period. The decline was primarily due to lower general and administrative expenses, partially offset by increased sales commissions on large-scale project deliveries.
Gross profit for the quarter increased to $540,039, up from $285,530 in the same period last year. Gross profit percentage declined from 27% to 19%, driven by a higher proportion of DC fast charging sales and large project deployments, which carry lower margins but contributed meaningfully to total revenue.
Net and comprehensive loss for the three months ended March 31, 2025, improved 24% to $1,214,729, compared to a net loss of $1,591,381 during the three months ended March 31, 2024. The Company's basic and diluted loss per share remained flat at ($0.02).
Summary of Key Financial Measures:
A summary of selected financial information for the three and twelve months ended March 31, 2025, and March 31, 2024, is as follows:
| Three months ended | Three months ended | Twelve months ended | Twelve months ended | |
| March 31, 2025 (audited) | March 31, 2024 (audited) | March 31, 2025 (audited) | March 31, 2024 (audited) | |
| Revenue | $2,799,603 | $1,067,478 | $10,055,246 | $3,072,107 |
| Net and comprehensive loss | $(1,214,729) | $(1,591,381) | $(4,311,253) | $(8,004,078) |
| Basic and diluted loss per share | $(0.02) | $(0.02) | $(0.06) | $(0.12) |
Condensed Consolidated Financial Statements:
| Three months ended March 31, 2025 | Three months ended March 31, 2024 | Twelve months ended March 31, 2025 | Twelve months ended March 31, 2024 | |
| Revenue | $2,799,603 | $1,067,478 | $10,055,246 | $3,072,107 |
| Cost of sales | $(2,229,564) | $(781,948) | $(7,779,674) | $(2,087,340) |
| Gross profit | $540,039 | $285,530 | $2,275,572 | $984,767 |
| Operating Expenses | ||||
| General and administrative | $1,014,188 | $1,215,872 | $4,046,612 | $6,371,982 |
| Sales and marketing | $605,301 | $373,841 | $1,754,621 | $1,866,782 |
| Research and development | $119,167 | $329,409 | $746,640 | $869,315 |
| Total Operating Expenses | $1,738,656 | $1,919,122 | $6,547,873 | $9,108,079 |
| Operating loss | $(1,198,617) | $(1,633,592) | $(4,272,301) | $(8,123,312) |
| Other expenses (income) | ||||
| Foreign exchange (gain) loss | $22,713 | $(8,852) | $30,523 | $2,082 |
| Interest income, net | $(5,873) | $(37,006) | $(51,332) | $(122,969) |
| Other income | $(594) | $(269) | $(1,933) | $(1,922) |
| Total other expenses (income) | $16,246 | $(46,127) | $22,765 | $(122,809) |
| Net loss | $(1,214,863) | $(1,587,465) | $(4,295,066) | $(8,000,503) |
| Other comprehensive income: | ||||
| Cumulative translation difference | $134 | $(3,916) | $(16,187) | $(3,575) |
| Comprehensive loss | $(1,214,729) | $(1,591,381) | $(4,311,253) | $(8,004,078) |
| Basic and diluted loss per share | ($0.02) | ($0.02) | ($0.06) | ($0.12) |
| Weighted average number of shares outstanding - basic and diluted | 70,705,205 | 68,988,938 | 71,557,226 | 67,584,066 |
For more information, please refer to the Company's management's discussion and analysis, the Company's annual information form, and the Company's audited consolidated financial statements for the three months and years-ended March 31, 2025, and March 31, 2024. These documents are available on the Company's website at https://hypercharge.com/investors/, and under the Company's SEDAR+ profile at https://www.sedarplus.ca/.
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About Hypercharge
Hypercharge Networks Corp. (TSXV: HC) (OTCQB: HCNWF) (FSE: PB7) is a leading provider of smart electric vehicle (EV) charging solutions for residential and commercial buildings, fleet operations, and other rapidly growing sectors. Driven by its mission to accelerate EV adoption and enable the shift towards a carbon neutral economy, Hypercharge is committed to offering seamless, simple solutions including industry-leading hardware, innovative and integrated software, and comprehensive services, backed by a robust network of public and private charging stations. Learn more: https://hypercharge.com/.
On behalf of the Company,
Hypercharge Networks Corp.
David Bibby, President & CEO
Contact
Media & Investor Relations:
Kyle Kingsnorth, Head of Marketing
kyle.kingsnorth@hypercharge.com | +1 (888) 320-2633
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements regarding growth, commercial developments, delivery timelines and revenue recognition. Forward-looking statements are often identified by terms such as "may", "could", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions which are intended to identify forward-looking statements. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260454
SOURCE: Hypercharge Networks Corp.
