NanoXplore has reported fiscal year 2026 results with total revenues of C$117.3 million (about US$84.3 million), down 9% from C$128.9 million (about US$92.6 million) the prior year, and a net loss of C$11.8 million (about US$8.5 million), compared to C$9.7 million (about US$6.9 million) in FY2025. Fourth-quarter revenue rose 7% year-over-year to C$33.9 million (about US$24.4 million), though adjusted EBITDA for the full year fell to C$1.9 million (about US$1.4 million) from C$6.1 million (about US$4.4 million), reflecting lower volumes and tooling revenues in the Advanced Materials, Plastics and Composite Products segment. The company guided to total revenues of C$130–140 million (about US$93.4–100.6 million) for fiscal 2027 and C$160–170 million (about US$115–122.2 million) for fiscal 2028.
The most significant strategic update came from VoltaXplore, NanoXplore's silicon-graphene-enhanced Li-ion battery subsidiary. Following a strategic review, the company has repositioned VoltaXplore away from its earlier focus on electric-vehicle applications and toward defense and dual-use platforms, including UAVs, UGVs, and portable electronics for Canadian and U.S. defense customers. NanoXplore cited growing demand for domestically produced battery cells driven by trade and geopolitical developments, along with procurement preferences for Canadian-manufactured products. VoltaXplore, which operates a 1 MWh cylindrical cell production facility in Montreal, has begun supplying cells to interested parties for testing and qualification, and continues to receive support from Natural Resources Canada's Energy Innovation Program and the National Research Council of Canada's IRAP program.
On the materials side, NanoXplore reported concrete progress in insulating foams, an application area it has been developing for several years with a Fortune 500 foam producer. Final plant trials are anticipated in early 2027, and a major customer is finalizing approvals to convert some of its products to the company's graphene additive, with NanoXplore anticipating approximately 1,000 metric tons per year of masterbatch at 30% graphene loading in the first full year of production. The company also signed a letter of intent with a global polyurethane foam materials supplier to produce graphene dispersions for PU foam manufacturing, with a particular opportunity identified in the European market, where graphene may help replace a halogenated flame retardant facing increasing regulatory scrutiny.
NanoXplore also continued to build out its dry-process graphene platform (D-Series), reporting the on-schedule and on-budget installation of its first production module, designed to deliver up to 1,000 tonnes of annual capacity. The company noted that its xGnP D500-HP conductive graphene launch and its Techmer PM plastic-film masterbatch partnership are both progressing through customer qualification, with graphene orders for the latter anticipated to begin in the second half of fiscal 2027. On the CPChem NanoSlide drilling-fluid partnership, the company said that while an initially anticipated customer opportunity did not proceed due to commercial factors unrelated to product performance, all prospective customers who have completed laboratory testing have confirmed the product performs as intended, with well trials now the key determinant for broader commercial adoption.
In January 2026, NanoXplore also decided not to pursue its planned active anode materials (CSPG) initiative amid changing economic and geopolitical conditions, opting instead to focus solely on dry-process graphene and explore alternative graphite waste-stream sources - a move the company said avoids an estimated C$100 million (about US$71.9 million) investment.
