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VICTORIA, BC / ACCESS Newswire / August 28, 2026 / BEACN Wizardry & Magic Inc. (TSXV:BECN) ("BEACN" or the "Company") announces its Q2 financial statements and accompanying MD&A have been filed. In the six months ended June 30, 2026, BEACN realized a 34% decrease in revenue and a 28% decrease in gross profits when compared to the same period last year. The decrease in revenue was due to lack of inventory supply and EU sales. Gross margin increased to 44% in Q1 and Q2 2026 (2025 - 41%) due to channel mix and price increases.
In Q2 2026, BEACN realized a 29% decrease in revenue and an 18% decrease in gross profits when compared to Q2 2025. The stock out of top selling product was not resolved until April. Recovery of revenue was slow with April revenue 42% below 2025, whereas May and June were 20% below 2025.
In Q1 2026, BEACN sales started strong with 15% gross profit growth in January. In mid-February, BEACN's top selling product stocked out due to a combination of increased demand through end of 2025 and production delays. Logistics and VAT issues restricted BEACN's ability to sell D2C in the European Union, which accounted for 10% of sales in Q2 2025.
"Recovering from inventory stock outs and delays in bringing BEACN Headset to market have been challenging. However, sales of BEACN Headset are still expected in Q3 and the first reviews have been exceptional," says BEACN CEO, Kevin Alexander.
BEACN announced BEACN Headset in April 2026. The product represents a significant increase to BEACN's product portfolio, bringing BEACN's Broadcast Voice DSP microphone processing to a headset. The product is expected to ship in Q3 2026.
Further information is available from the Company's financial statements for the period ending on June 30, 2026, on SEDAR at www.sedar.com.
About BEACN
BEACN (TSXV:BECN), a Victoria BC based consumer electronics company, develops innovative audio equipment, peripherals and technology for gamers, live streamers, and content creators. BEACN is committed to delivering premium products that enable everyone to produce studio-quality content. BEACN's award-winning product ecosystem includes BEACN Mic, BEACN Studio, BEACN Mix and BEACN Mix Create. BEACN is listed on the TSXV under the symbol BECN.
Media & Investor Enquiries
Liberty Brunet
ir@beacn.com
+1 (778) 561-1450
Cautionary Note Regarding Forward-Looking Information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates", or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to: (a) B2B Retail Strategy; (b) Online, Direct to Consumer Sales Strategy; (c) Product Design & Introduction; and (d) Quarterly Earnings.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation: (a) Company's cost and timing expectations are accurate; (b) Company will be successful in the deployment of its resources and personnel; (c) Company's ability to maintain manufacturing volume for its products and its ability to sustain sales of products to customer; and (d) general economic and market conditions will not change in an adverse manner; political and regulatory stability including in financial and capital markets.
Additionally, forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) risks that the supply chain disruption that may lead to a shortage of inventory for sale and/or delay introduction of new product; (b) risks that economic or other factors beyond the control of the Company may influence the purchasing behavior of customers; (c) risks that the volatility of global capital markets may adversely impact the Company's business and operations; and (d) risks that the Company could face technology or software disruptions.
The forward-looking statements contained in this press release represent management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this press release by you or any of your representatives or for omissions from the information in this press release. We seek safe harbor.
Reader Advisory
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SOURCE: BEACN Wizardry & Magic Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/electronics-and-engineering/beacn-announces-financial-results-for-the-second-quarter-of-2026-1214338
