Toronto, Ontario--(Newsfile Corp. - May 1, 2026) - Paragon Advanced Labs Inc. (TSXV: PALS) ("Paragon" or the "Company") is pleased to announce that its audited financial statements for 2025 have been filed to SEDAR+.
"2025 was a transformational year for our business as we continued to build our lab network which includes the rollout of PhotonAssay technology in North America," said Peter Shippen, CEO of Paragon.
Important Highlights:
- Paragon completed its RTO and commenced trading on the TSX Venture on December 11, 2025.
- Paragon grew its PhotonAssay footprint to three machines; Hamilton, Ontario, Surrey, British Columbia and Sparks, Nevada.
- Signed partnership agreement with Scout Discoveries to offer a new full-scale sample prep facility in Coeur d'Alene.
- Increased sample prep capacity with the launch of sample prep in Timmins, Ontario and the recently announced Thunder Bay, Ontario facility.
- Near-term completion of the doubling of Geochem capacity in Sparks, Nevada to service multi-element analysis.
- Strengthened operational and quality bench strength with the hiring of Laurentiu Fulea as Canadian Operations Manager.
The Company changed its year end in 2025 and now has a December 31 year end.
Revenue
| Period | Revenue |
| 9 months ended Dec 31, 2025 | $4,373,818 |
| Q3 FY2025 - Oct to Dec 2025 (Q4 calendar) | $1,816,604 |
Revenue for the nine-month annual period ending December 31, 2025 was $4,373,818, reflecting the Company's commercial operations across its Hamilton, Surrey, and Sparks PhotonAssay facilities, together with geochemical and fire assay services at the Sparks facility. Revenue for the seasonally slower Q1 FY2026 is anticipated to increase approximately 21% over the immediately preceding quarter (Q4 FY2025) and equivalent to approximately 50% of the entire annual period revenue achieved in FY2025.
The sequential improvement in Q1 FY2026 revenue reflects the partial commencement of a significant client relationship in late February 2026. This relationship, which represents anticipated significant contract value was originally expected to commence in January 2026. The six-week delay in commencement, combined with the ninety-day ramp to full utilization, means that Q1 FY2026 captured approximately one-third of the expected steady-state contribution from this relationship. The remaining benefit is expected to be progressively reflected through Q2 FY2026.
About Paragon Advanced Labs Inc.
Paragon Advanced Labs Inc. provides innovative analytical technologies to the global mining industry. By embracing new technology, the Company is addressing critical capacity bottlenecks in mineral assaying through the deployment of PhotonAssay technology and complementary analytical solutions. The Company delivers faster, more accurate, and cost-effective mineral analysis for mining operators worldwide.
ON BEHALF OF THE BOARD OF DIRECTORS OF PARAGON ADVANCED LABS INC.
Peter Shippen
Chief Executive Officer and Director
Paragon Advanced Labs Inc.
For more information, contact:
Peter Shippen, Chief Executive Officer and Director
Email: peter.shippen@paragongeochem.com
Forward-looking Statements
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on expectations, estimates and projections as of the date of this news release and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this release may include, but are not limited to, statements regarding the Company's plans, business objectives, strategy, financial or operational performance, exploration or development programs, future market conditions, and other future events or conditions.
Forward-looking statements are often identified by words such as "anticipate," "believe," "expect," "estimate," "intend," "may," "plan," "project," "should," "will," and similar expressions. These statements are not guarantees of future performance and involve risks and uncertainties, including those described in the Company's public filings available under its profile on SEDAR+. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
Neither the TSXV nor its Regulation Services Provider (as the 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/295420
Source: Paragon Advanced Labs Inc.
