Cheelcare Announces Fourth Quarter and Fiscal 2026 Financial Results and Provides Curio Update

Cookie Settings We use cookies to analyze user behavior in order to constantly improve the website for you. View our Privacy Policy and Terms of Use . Necessary Analytics Accept All Accept Selection Reject All × Skip to main content Newsfile Search English Français Deutsch Español Search × Login Username Password Login Newsfile Login Search Français Home About About Company Overview Who We Serve Upcoming Events Careers Services Services Press Release Distribution News Service Overview Global Distribution Additional News Services AI Disclosure Intelligence SEDAR+ About SEDAR+ SEDAR+ Resources EDGAR EDGAR Service Overview EDGAR Resources Webcasting and Conference Calling Newsroom Newsroom Newsroom Newswire Guidelines Sign Up for News Integrate Blog Contact Cheelcare Announces Fourth Quarter and Fiscal 2026 Financial Results and Provides Curio Update August 31, 2026 7:30 AM EDT | Source: Cheelcare Inc. Markham, Ontario--(Newsfile Corp. - August 31, 2026) - Cheelcare Inc. (TSXV: CHER) (OTC: CHCRF) ("Cheelcare" or the "Company"), a Canadian innovator in advanced mobility solutions, today announced its financial results for the fourth quarter and fiscal year ended April 30, 2026. All figures are in CAD unless otherwise noted. Operational Highlights (Year Ended April 30, 2026) Continued revenue and Companion sales growth: Fiscal 2026 revenue increased 22% year-over-year to $1.9 million. The Company sold 536 Companion units during the year, compared to 453 in fiscal 2025, representing an 18% increase in annual unit sales. Companion reimbursement milestone in the United States: On January 26, 2026, the Company announced that its Companion power-assist device had received Pricing, Data Analysis, and Coding ("PDAC") verification, establishing reimbursement eligibility through U.S. Medicare and Medicaid programs and supporting broader access to the product in the United States. Commercial milestone achieved: The Company surpassed 2,000 cumulative Companion units sold since product launch, reflecting continued market acceptance and expansion of Cheelcare's dealer and distribution network. Expanded distribution footprint: Cheelcare's products are distributed through more than 500 dealer locations globally, including more than 200 dealer locations in the United States, 267 dealer locations in Ontario, and more than 35 U.S. Veterans Affairs Medical Centers. Manufacturing scale-up: Cheelcare transitioned to its new 16,000 sq. ft. production facility during the year, with production operations commencing in October 2025. The Company continued to optimize manufacturing processes and production workflows to support increased capacity and future commercial growth. Finance and reporting infrastructure: The Company expanded and strengthened its finance function during fiscal 2026, including the addition of a new CFO and controller, while enhancing financial reporting and internal processes to support Cheelcare's growth as a public company and prepare the organization for greater scale. Curio development and regulatory advancement: The Company continued to advance Curio, its robotic complex-rehab power wheelchair, through initial commercialization, product development and regulatory activities. Following its most recent review under Ontario's Assistive Devices Program ("ADP"), the Company is undertaking additional product refinement and validation prior to resubmission, while continuing to advance the U.S. FDA 510(k) pre-market notification process. Quality and operating systems: The Company received a Compliant rating following a routine Health Canada inspection and initiated implementation of an ERP system to enhance traceability, compliance and integrated production planning. Financial Highlights (Year Ended April 30, 2026) Revenue of $1,908,941, compared to $1,569,887 in fiscal 2025, representing an increase of approximately 22%. Gross profit of $464,525, or approximately 24% of revenue, compared to $663,963, or approximately 42%, in fiscal 2025. Fiscal 2026 gross profit was impacted by a $443,000 inventory write-off and the reclassification of direct assembly labour costs to cost of sales. Net loss of $4,859,475, or $0.27 per share, compared to a net loss of $1,270,041, or $0.12 per share, in fiscal 2025. The fiscal 2026 loss included a $1,341,974 listing expense associated with the Company's reverse takeover, a $494,238 loss on derivative instrument and a $312,209 loss on debt settlement arising from the conversion of convertible debentures into equity. *Subsequent to year-end, on July 3, 2026, the Company completed a private placement of 2,015,500 units at a price of $1.50 per unit for gross proceeds of $3,023,250. Each unit consisted of one common share and one-half of one common share purchase warrant, with each whole warrant exercisable at $2.25 per share for a period of 24 months. The financing provides additional capital to support continued product development, commercialization and working capital requirements. Fourt