"Q1 2026 marked an important step in Beyond Oil's transition from pilot activity to structured commercial rollouts, particularly in the U.S. market," said Jonathan Or, CEO of Beyond Oil. "We are now in advanced stages of rollout planning and implementation with several large, strategic customers across supermarkets, premium casual dining, fast-food chains and additional foodservice segments. While certain customer names cannot be disclosed at this stage, these programs involve well-established and widely recognized brands that we believe provide meaningful validation for our technology, commercial strategy and ability to scale.
Beyond Oil is building more than a product. We are becoming a partner in frying performance and oil management, helping large operators turn frying into a measurable, repeatable and scalable brand standard. In a market as large as the U.S., adoption by even a limited number of major customers has the potential to support the Company's next tier of revenue and growth. We believe this foundation is being built in the right way: through customer validation, operational onboarding, repeat purchasing and broader adoption.
As these rollout programs progress, we expect their financial impact to build over the coming quarters, with a more meaningful acceleration in revenue beginning in the third quarter and continuing through the second half of 2026."
The following disclosure does not constitute full disclosure of the Company's financial and operational condition and is qualified by, and should be read in conjunction with, the Company's Management Discussion and Analysis for the period ending March 31, 2026 (the "MD&A") and corresponding financial statements available at www.sedarplus.ca.
Q1 2026 Financial Highlights *All Figures in USD unless specifically mentioned otherwise
Revenue Growth & Gross Margin Improvement
Beyond Oil reported revenues of $1.255 million for Q1 2026, representing a 24% year-over-year increase compared to $1.011 million in Q1 2025. Gross profit improved to $0.667 million (gross margin of 53.1%), up from $0.513 million (50.7%) in the prior year period, reflecting stronger commercial traction and improving unit economics as the Company scales its operations.
Operating Expenses, Continued Investment in Growth
Total operating expenses for Q1 2026 were $2.733 million, compared to $2.214 million in Q1 2025. The increase was primarily driven by the Company's accelerated investment in commercial expansion and customer acquisition in the US market, including a 67% rise in Sales & Marketing expenditures (from $0.88 million to $1.467M), reflecting. G&A expenses decreased to $1.044 million from $1.158 million, demonstrating continued cost discipline in overhead. R&D expenses increased modestly to $0.222 million from $0.176 million, reflecting ...
