Orbit Garant management commentary cites long-term contract ramp-ups, cost inflation as fiscal 2026 net loss hits CAD 1.5 million
Bitget2026/09/25 03:15- In management commentary for fiscal 2026, revenue rose 7.5% to CAD 203.2 million, while net results swung to a CAD 1.5 million loss.
- Gross margin fell to 9.7% from 15.0%, driven by ramp-up costs on major long-term contracts, cost inflation, weaker productivity.
- Adjusted EBITDA dropped to CAD 13.7 million from CAD 21.7 million, reflecting lower operating earnings and a CAD 1.2 million expected credit loss.
- Fourth-quarter revenue climbed 21.3% to CAD 57.2 million, but gross margin halved to 8.2% as Canada productivity weakened.
- Orbit Garant highlighted a new five-year specialized drilling contract in Canada expected to exceed CAD 100 million revenue, with ramp-up underway.
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