VANCOUVER, BC, June 1, 2026 /CNW/ - Victory Square Technologies Inc. (CSE:VST) (OTCQX:VSQTF) (FWB: 6F6) ("Victory Square", "VST", or the "Company"), a venture builder focused on healthcare infrastructure, digital health, artificial intelligence, and emerging technology platforms, today announced its financial results for the three months ended March 31, 2026.
Q1 2026 marked another important milestone in Victory Square's evolution from venture builder to platform owner.
During the quarter, the Company continued to support portfolio companies operating across healthcare infrastructure, digital health, artificial intelligence, pet health, and emerging technologies. Notable developments included continued expansion of Hydreight Technologies' healthcare platform, progress at Insu Therapeutics' buccal peptide delivery program, and the launch of Pawsible Ventures' pet-health platform initiatives.
Q1 2026 Financial Highlights
Revenue increased to $24.9 million, compared to $4.5 million in Q1 2025.
Gross profit increased to $5.1 million, compared to $1.5 million in the prior-year period.
Net income totaled approximately $3.9 million.
Cash & Marketable Securities increased to approximately $31 million at March 31, 2026.
The Company exited the quarter with a strengthened liquidity position and increased financial flexibility.
The Company's financial performance continues to be driven primarily by the growth and scale of Hydreight Technologies Inc., Victory Square's largest operating subsidiary and core healthcare infrastructure platform.
Hydreight Technologies Update
Hydreight Technologies (TSXV:NURS) is Victory Square's largest operating subsidiary.
Hydreight operates a healthcare platform that provides physician coverage, pharmacy relationships, compliance frameworks, and telehealth enablement capabilities across all 50 U.S. states.
Recent developments included:
Revenue growth and profitability
Growth in the VSDHOne platform to more than 12,000 licenses
Completion of a $15 million financing
Launch of a Normal Course Issuer Bid (NCIB)
VSDHOne supports healthcare entrepreneurs, clinics, healthcare brands, and operators through physician coverage, compliance infrastructure, pharmacy fulfillment, and telehealth capabilities.
Insu Therapeutics Update
Insu Therapeutics is a clinical-stage biotechnology company developing a patented buccal delivery platform for peptide-based therapeutics.
The Company's research initially focused on evaluating the buccal delivery of insulin, which inspired the name "Insu Therapeutics." Building on that work, the Company has expanded its research to include semaglutide, a peptide-based therapy currently used in the treatment of obesity and diabetes.
Many peptide-based therapies continue to rely on injection-based administration. Insu's platform is designed to evaluate an alternative delivery approach through a patented buccal delivery system engineered to:
Absorb peptides through the buccal mucosa (inner cheek)
Bypass gastrointestinal degradation
Avoid first-pass liver metabolism
Protect active pharmaceutical ingredients from salivary loss
Unlike traditional oral tablets that rely on gastrointestinal absorption, buccal delivery utilizes a different route of administration designed to deliver molecules through the buccal mucosa.
Importantly, Insu is not developing a new peptide molecule. The Company's research is focused on evaluating its delivery platform using existing peptide therapies, including semaglutide.
During the quarter, Insu announced completion of Phase I preclinical studies evaluating its ...
