Investor Conference Call on May 14, 2026 at 8:00 a.m. ET
TORONTO, May 13, 2026 /CNW/ – Baylin Technologies Inc. (TSX:BYL) (OTCQB:BYLTF) (the “Company” or “Baylin”), a leading diversified global wireless technology company focused on research, design, development, manufacture, and sale of passive and active radio frequency products, satellite communications products, and supporting services, today announced its financial results for the three months ended March 31, 2026. All amounts are stated in Canadian dollars unless otherwise indicated.
FIRST QUARTER SUMMARY
- Revenue of $16.1 million compared to $18.9 million in the first quarter of 2025. The decrease was primarily due to lower sales volume from the Satcom business line, and to a lesser extent, the Wireless Infrastructure business line, in each case due to softer market conditions in the first quarter of 2026.
- Gross profit of $6.7 million compared to $8.0 million in the first quarter of 2025. The decrease was mainly due to the revenue decline in the first quarter of 2026 as discussed above. Gross margin* of 41.5% compared to 42.4% in the first quarter of 2025. The decrease of gross margin caused by lower revenue was offset by a more favourable product mix in the Custom Antenna Solutions business line and improved gross margin in the Satcom business line.
- Adjusted EBITDA* of $0.1 million compared to $0.7 million in the first quarter of 2025. The decrease was primarily due to the gross profit decrease in the first quarter of 2026 as discussed above, offset in part by a reduction in operating expenses compared to the prior year period.
- Net loss of $2.3 million compared to $2.0 million in the first quarter of 2025. The net loss in the first quarter of 2026 was primarily due to an operating loss of $1.5 million plus interest and other finance expenses. On a per share basis, a net loss of $0.02 per share in the first quarter of 2026 compared to a net loss of $0.01 per share in the first quarter of 2025.
- Net debt* of $12.1 million at March 31, 2026, a decrease of $0.3 million from December 31, 2025, largely driven by cash generated from positive working capital movements in the first quarter of 2026.
- Backlog* of $22.9 million at March 31, 2026 compared to $20.4 million at December 31, 2025. The stronger backlog was primarily due to an increase in new order intake in Wireless Infrastructure and Satcom business lines during the first quarter of 2026. Backlog was $21.9 million at April 30, 2026.
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* This is a non-IFRS measure. See notes in “Selected Financial Information”. |
SELECTED FINANCIAL INFORMATION
The table below discloses selected financial information for the periods indicated.
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(in $000’s except per share amounts) |
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Three Months Ended March 31, |
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2026 |
2025 |
Change |
Change |
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|
$ |
$ |
$ |
% |
||||||
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Profit and Loss |
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Revenue |
16,064 |
18,866 |
(2,802) |
(14.9 %) |
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Gross profit |
6,669 |
8,003 |
(1,334) |
(16.7 %) |
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|
Gross margin |
41.5 % |
42.4 % |
(0.9 pp) |
(2.1 %) |
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Net loss |
(2,319) |
(2,042) |
(277) |
13.6 % |
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Basic and diluted net loss per share |
($0.02) |
($0.01) |
($0.01) |
100.0 % |
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EBITDA(1) |
(512) |
(525) |
13 |
(2.5 %) |
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Adjusted EBITDA(2) |
62 |
680 |
(618) |
(90.9 %) |
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As at |
As at |
As at |
As at |
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March 31, |
March 31, |
Change |
Change |
March 31, |
December 31, 2025 |
Change |
Change |
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|
$ |
$ |
$ |
% |
$ |
$ |
$ |
% |
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Balance Sheet and Other |
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Current assets |
40,588 |
35,072 |
5,516 |
15.7 % |
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