First reporting period as a standalone publicly listed entity; common shares listed on the TSX Venture Exchange under "SCAI" and the Frankfurt Stock Exchange under "MJ5"
Cash position of $6.5 million at quarter-end following completion of oversubscribed $5.45 million concurrent financing; no long-term debt
VANCOUVER, BC, May 29, 2026 (GLOBE NEWSWIRE) -- SalesCloser Technologies Ltd. ("SalesCloser" or the "Company") (TSXV:SCAI) (FSE: MJ5), a pioneer in autonomous AI sales technology, today announced that it has filed its condensed interim consolidated financial statements (the "Interim Financial Statements") and management's discussion and analysis (the "MD&A") for the three and six months ended March 31, 2026 ("Q2 Fiscal 2026" and "H1 Fiscal 2026", respectively). Copies of the Interim Financial Statements and MD&A are available on the Company's profile on SEDAR+ at www.sedarplus.ca. All amounts are reported under International Financial Reporting Standards ("IFRS Accounting Standards") and stated in Canadian dollars unless otherwise indicated.
Ali Tajskandar, Chief Executive Officer of SalesCloser, commented: "Q2 Fiscal 2026 was a transformational quarter for SalesCloser. We completed our Qualifying Transaction and began trading as a standalone public company on the TSX Venture Exchange and the Frankfurt Stock Exchange. More importantly, the business continued to execute through the transition - delivering revenue growth of 224% year-over-year in the quarter and 428% on a six-month basis. Annual recurring revenue(2) exceeded $2.0 million at the closing of the Qualifying Transaction, representing more than six-fold growth in just over twelve months. The demand we are seeing reinforces our conviction that conversational AI for sales execution is becoming foundational to how businesses generate and convert revenue."
He continued: "Our focus from here is on extending the moat we have built and converting that momentum into durable, recurring revenue at scale. Since quarter-end, the United States Patent and Trademark Office has granted us our first two U.S. patents, with seven additional patent applications pending in our intellectual property portfolio that we believe could further strengthen the technology foundation underneath autonomous AI sales execution. We have also commissioned a dedicated NVIDIA Blackwell-class GPU inference cluster and announced a collaboration with Twilio - both of which are designed to accelerate enterprise deployments and unlock opportunity in regulated industries. Combined with the strength of our balance sheet, the new senior leaders we have added, and the customer momentum we are seeing, we believe SalesCloser is well-positioned to scale toward our long-term gross margin profile in excess of 80% as recurring revenue grows."
Q2 Fiscal 2026 represents the Company's first reporting period as a standalone publicly listed entity following the closing of its Qualifying Transaction with G2M Cap Corp. on March 26, 2026. The Interim Financial Statements have been prepared as a continuation of the historical financial statements of SalesCloser Technologies Inc. (the accounting acquirer), with comparative period figures presented on a carve-out basis from the accounting records of Wishpond Technologies Ltd. (TSXV:WISH). Readers are referred to the MD&A and Note 2 of the Interim Financial Statements for further information regarding the basis of presentation.
Q2 and H1 Fiscal 2026 Financial Highlights
Revenue of $382,755 in Q2 Fiscal 2026 (Q2 Fiscal 2025: $118,316), an increase of 224% year-over-year; revenue of $762,775 for H1 Fiscal 2026 (H1 Fiscal 2025: $144,369), an increase of 428% year-over-year.
Geographic diversification: United States customers represented approximately 45% of Q2 Fiscal 2026 revenue, with international customers (Canada, the United Kingdom, and other markets) accounting for approximately 55% - reflecting the Company's global revenue mix.
Gross margin of 70.4% in Q2 Fiscal 2026, compared to 56.6% in Q2 Fiscal 2025; gross margin of 73.4% for H1 Fiscal 2026, compared to 52.5% in H1 Fiscal 2025. Management's long-term target is to achieve gross margin in excess of 80% as the subscription revenue base scales.
Cash of $6,466,059 at March 31, 2026 (September 30, 2025: $33,677), primarily reflecting the closing of the oversubscribed $5.45 million concurrent financing. Total liabilities of $1,000,673; the Company carries no long-term debt.
Adjusted EBITDA⁽¹⁾ of negative $820,672 in Q2 Fiscal 2026 (Q2 Fiscal 2025: negative $224,178); Adjusted EBITDA of negative $1,226,302 for H1 Fiscal 2026 (H1 Fiscal 2025: loss of $345,173). The year-over-year increase reflects deliberate investment in standalone public company infrastructure, technology development, and the build-out of the Company's sales and customer success functions.
Net loss of $4,763,169 in Q2 Fiscal 2026 (Q2 Fiscal 2025: $243,402). Net loss for the quarter includes a non-cash reverse acquisition listing expense of $2,648,096 and stock-based compensation of $1,223,180, both recognized in connection with the closing of the Qualifying Transaction. Both items are excluded from Adjusted EBITDA as non-recurring or non-cash in nature.
Recent Business Highlights and Corporate Updates
Inaugural quarter as a standalone publicly listed company. The Company completed its Qualifying Transaction with G2M Cap Corp. on March 26, 2026, becoming a TSX Venture Exchange ("TSXV")-listed entity and closing an oversubscribed $5.45 million private placement financing concurrent with closing. Ali Tajskandar was appointed Chief Executive Officer and Chairman of the Company at closing, with Jordan Gutierrez named Chief Operating Officer. Subsequent to the end of the quarter, the Company's common shares commenced trading on the TSXV under the symbol "SCAI" on April 9, 2026 and on the Frankfurt Stock Exchange under the symbol "MJ5" on April 17, 2026, expanding access for North American and European investors.
Continued strengthening of the intellectual property moat protecting autonomous AI sales execution. Subsequent to the end of the quarter, the United States Patent and Trademark Office granted the Company its first two U.S. patents. U.S. Patent No. US12526253B1 ("System and Method for Graph-Based Conversational-Flow Editing"), announced on May 1, 2026, which protects the Company's foundational approach to democratizing AI sales agent creation for non-technical users - technology that is already fully deployed and generating revenue within the SalesCloser platform. U.S. Patent No. US12574461B1 ("Adaptive Voicemail and IVR Detection for AI-Driven Call Automation"), announced on May 26, 2026, which protects core execution infrastructure that allows AI sales agents to navigate the realities of outbound calling reliably at scale in production environments. These two granted patents represent the first of nine U.S. patent applications in the Company's intellectual property portfolio. The pending applications cover real-time conversational state ...
