CALGARY, AB, May 27, 2026 /CNW/ - Renoworks Software Inc. (TSXV:RW) ("Renoworks" or the "Company), an industry leader in visualization and lead generation technology for the home renovation and new construction sector, announces its first quarter 2026. The financial statements and related management's discussion and analysis ("MD&A") can be viewed on SEDAR+ at www.sedarplus.ca. Unless otherwise stated, all dollar amounts are Canadian dollars.
Financial highlights for the first quarter of fiscal 2026 with comparatives for 2025 are as follows:
Revenues of $1,836,884, a 1% decrease from the prior period's $1,847,981. The decrease in reported revenue was due to an expected decline in design services offset by a 36% increase in higher margin recurring licensing revenue, reflecting previously highlighted recurring revenue growth focus
Recurring revenue of $1,193,692 versus 879,726 for the same period in 2025, a 36% increase.
Deferred Revenue of $2,141,893 at March 31, 2026 compared to $2,436,650 at December 31, 2025.
Gross margin of 80% versus 75% in the same period in 2025, as a higher percentage of revenue is from licensing.
Net loss of $48,756 compared to a net profit of $67,092 for the same period in 2025.
Cash at March 31, 2026 was $1,102,656, a decrease of $342,072 from $1,444,728 at the end of fiscal 2025.
The Company's working capital at March 31, 2026 was a positive $529,776 compared to a positive working capital of $459,164 at December 31, 2025 an increase of $70,611. Excluding deferred revenue, a significant non-cash item included in working capital, the Company's working capital at March 31, 2026 is positive $2,191,876 ($2,381,953, Dec 31, 2025).
As at March 31, 2026, the Company had 40,901,301 common shares issued and outstanding.
In the first quarter of 2026 the Company earned aggregate revenues of $1,836,884, including $190,923 from design services, $1,193,692 from licensing and hosting, $148,150 from libraries, and $304,119 from implementation fees.
Net loss for the fiscal quarter ended March 31, 2026, was $48,756, a decrease compared to the net income of $67,092 reported for the same period in 2025. The decrease was primarily driven by increased overall expenses incurred in support of our continued product marketing and investment in research and development.
"Renoworks continues to execute on its transition toward a higher-margin, recurring revenue software business powered by AI-driven visualization, data analytics, predictive lead scoring, automated design assistance, image enhancement technology, and workflow automation," said Doug Vickerson, Chief Executive Officer of Renoworks. "During the quarter, recurring revenue increased 36% year-over-year, reflecting continued enterprise adoption of our platform and growing demand for scalable digital engagement solutions across the remodeling industry."
"We believe artificial intelligence is significantly expanding the opportunity for Renoworks and our customers. Homeowners are increasingly using AI tools to explore remodel ideas online. Manufacturers, contractors, and retailers require trusted platforms that connect ...
