Progressive Planet Q1 FY27 net income drops 31% to $1.11 million; revenue rises 23% to $7.3 million
Bitget2026/09/24 20:30- Progressive Planet Q1 revenue rose 23% to $7.3 million, a quarterly record since inception.
- Operating income increased 29% to $924,124, while net income fell 31% to $1.11 million.
- Gross margin narrowed 5 percentage points to 34%, with CEO Steve Harpur citing higher trucking costs tied to diesel prices.
- Capital spending totaled $654,335, including $391,104 for a building extension and equipment for the PozGlass pilot plant.
- After quarter-end, it accepted a $4 million BDC Pivot to Grow term-loan offer at floating base rate minus 2.00%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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