Progressive Planet Announces Record Q3 Revenue

About this update from Progressive Planet Solutions Inc.

Progressive Planet Announces Record Q3 Revenue /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } Canada NewsWire KAMLOOPS, BC, March 12, 2026 /CNW/ - Progressive Planet (TSXV: PLAN) (OTCQB: ASHXF) ("Progressive Planet", "PLAN", or the "Company") is proud to provide highlights for the third quarter ended Jan 31, 2026. Financial Highlights include the following when compared to the third quarter of the prior year:Revenue increased by 22% to $5,816,709 – the second highest quarterly revenue and the highest Q3 revenue since the acquisition of Absorbent ProductsGross profit increased by 47% to $1,991,301, and gross margin increased to 34% compared to 28% for Q3 of 2025Income from operations decreased by 32% to $157,443, as the Company incurred a significant one-time promotional expense in the current quarter as well as significant research and development costs associated with the development of its PozGlass™ SCM Pilot PlantEBITDA decreased to negative $499,643, compared to positive $421,959 for 2025Adjusted EBITDA increased to $624,115, compared to $428,453 for 2025 (a 46% increase)Existing credit facilities remain unused with greater than $3,000,000 in credit available as at January 31, 2026, and $2.14 million in cash before receipt of further grant funds as a subsequent event after the end of Q3The negative EBITDA was the result of two one-time charges that were taken in the quarter. The first charge was an investment for a slotting fee to one of our largest US accounts whereby we obtained placement in over 2,400 retail locations for three new SKUs which doubled our total SKU count in these stores to six SKUs. Progressive Planet has not incurred any other slotting fees since the acquisition of Absorbent Products in February of 2022. This was a strategic investment in retail distribution and is not expected to recur as a normal part of operations.The second one-time charge resulted from the write down of the Z1 Zeolite Quarry as announced on December 18, 2025. This write down decision was made due to Progressive Planet obtaining superior assets for the production of Supplementary Cementing Materials (SCMs), and agricu...

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