SalesCloser Reports Second Quarter Fiscal 2026 Financial Results with Significant Year-Over-Year Revenue Growth
Revenue grew 224% year-over-year in Q2 Fiscal 2026 to $382,755, and 428% year-over-year on a six-month basis to $762,775, with gross margin expanding to 70.4%
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 management, autonomous human escalation, self-testing systems for AI reliability, and advanced telephony features. The Company believes the breadth of this portfolio has the potential to further strengthen its competitive position in autonomous AI sales execution as additional patents are granted.
- Strategic investments in enterprise-grade AI infrastructure and channel partnerships. Subsequent to the end of the quarter, the Company announced two strategic developments designed to accelerate enterprise customer adoption and unlock new market opportunities. On May 8, 2026, the Company announced a collaboration with Twilio, a leading global cloud communications platform, to establish a streamlined referral and onboarding process for SalesCloser customers - designed to reduce deployment friction, shorten go-live timelines, and improve call reliability through coordinated deployment workflows. On May 15, 2026, the Company commissioned a dedicated NVIDIA Blackwell-class GPU inference cluster hosted in Canada on infrastructure with a predominantly renewable, hydroelectric grid composition. By operating its own AI inference layer rather than relying exclusively on third-party cloud APIs, the Company expects to enable custom model fine-tuning on SalesCloser’s proprietary sales conversation data, support more sophisticated agentic AI workflows at scale, and provide data sovereignty capabilities that the Company believes can unlock expansion into regulated industry verticals including healthcare, financial services, legal, and government.
Selected Financial Highlights
| Three months ended March 31, 2026 ($) | Three months ended March 31, 2025 ($) | Six months ended March 31, 2026 ($) | Six months ended March 31, 2025 ($) | |
| Revenue | 382,755 | 118,316 | 762,775 | 144,369 |
| Cost of sales | 113,410 | 51,367 | 202,620 | 68,580 |
| Gross profit | 269,345 | 66,949 | 560,155 | 75,789 |
| Gross margin | 70.4% | 56.6% | 73.4% | 52.5% |
| Total operating expenses | 2,349,383 | 307,089 | 3,072,951 | 452,246 |
| Loss from operations | (2,080,038) | (240,140) | (2,512,796) | (376,457) |
| Reverse takeover listing expense | 2,648,096 | - | 2,648,096 | - |
| Net loss for the period | (4,763,169) | (243,402) | (5,206,770) | (379,817) |
| Adjusted EBITDA⁽¹⁾ | (820,672) | (224,178) | (1,226,302) | (345,173) |
| Cash - end of period | 6,466,059 | 33,797 | 6,466,059 | 33,797 |
| Total assets - end of period | 7,414,870 | 513,009 | 7,414,870 | 513,009 |
| Total liabilities - end of period | 1,000,673 | 46,458 | 1,000,673 | 46,458 |
Reconciliation of Loss Before Income Taxes to Adjusted EBITDA⁽¹⁾
| Three months ended March 31, 2026 ($) | Three months ended March 31, 2025 ($) | Six months ended March 31, 2026 ($) | Six months ended March 31, 2025 ($) | |
| Loss before income taxes | (4,763,169) | (243,402) | (5,206,770) | (379,817) |
| Depreciation and amortization | 36,186 | 15,962 | 63,314 | 31,284 |
| Accretion expense | 38,965 | - | 52,275 | - |
| Other expenses | (3,930) | 3,262 | (6,397) | 3,360 |
| Stock-based compensation | 1,223,180 | - | 1,223,180 | - |
| Reverse takeover listing expense | 2,648,096 | - | 2,648,096 | - |
| Adjusted EBITDA⁽¹⁾ | (820,672) | (224,178) | (1,226,302) | (345,173) |
About SalesCloser
SalesCloser.ai is a Vancouver-based AI software company focused on automating and scaling revenue generation through conversational AI. The Company’s platform enables businesses to deploy AI-powered virtual sales agents that engage prospects and customers across the sales lifecycle. SalesCloser’s agents conduct real-time, personalized interactions across voice, video, and digital channels, including lead qualification, product demonstrations, follow-ups, and meeting scheduling. By augmenting core sales functions, the platform helps organizations increase capacity, accelerate pipeline velocity, and improve conversion rates without a corresponding increase in headcount. The platform integrates with existing CRM and business systems, supports multilingual deployment, and delivers consistent, high-quality customer interactions across industries. SalesCloser operates under a subscription-based SaaS model, generating recurring revenue with strong visibility and high gross margins while continuously enhancing its AI capabilities. The Company’s technology is supported by a growing portfolio of patent applications focused on improving the performance of AI-driven conversational workflows. SalesCloser.ai is listed on the TSX Venture Exchange under the ticker "SCAI" and on the Frankfurt Stock Exchange under the ticker "MJ5". For more information, visit the SalesCloser investor site at: https://investors.salescloser.ai.
Cautionary Statements, Summary Information
Information presented in this press release may be only a summary of all available information and does not purport to be a full representation of all figures, notes and discussions provided for in the Interim Financial Statements and the MD&A. Readers are cautioned to read the entirety of the Interim Financial Statements and the MD&A, and not to rely solely on the information presented in this press release. In the event of any conflict between the provisions of this press release on the one hand, and the Interim Financial Statements and the MD&A on the other hand, the information in the Interim Financial Statements and the MD&A shall govern.
Non-IFRS and Other Financial Measures
This press release contains references to certain non-IFRS financial measures and supplementary financial measures, including Adjusted EBITDA and Annual Recurring Revenue ("ARR"). These measures are not recognized financial measures under IFRS Accounting Standards, do not have any standardized meaning prescribed by IFRS Accounting Standards and therefore may not be comparable to similar measures presented by other entities. Management believes that these measures provide useful supplemental information regarding the Company’s operating performance and uses them to evaluate the underlying performance of the business. These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Accounting Standards. Readers are cautioned not to place undue reliance on these measures.
(1) Adjusted EBITDA is defined as loss before income taxes, less interest expense, interest income, depreciation and amortization, stock-based compensation, reverse acquisition listing expense, and other one-time or non-recurring items. Adjusted EBITDA is presented because management believes it provides useful supplemental information regarding the Company’s operating performance by excluding non-cash items and items that are not reflective of the ongoing operations of the business. A reconciliation of loss before income taxes to Adjusted EBITDA is presented above.
(2) Annual Recurring Revenue ("ARR") is a supplementary financial measure that the Company uses as a directional indicator of subscription revenue going forward, assuming customers maintain their subscription plan for a period of 12 months. ARR is calculated by multiplying total monthly recurring revenue ("MRR") by 12. ARR does not have any standardized meaning under IFRS Accounting Standards, should not be construed as an alternative to revenue or any other measure of financial performance calculated and presented in accordance with IFRS Accounting Standards, and may not be comparable to similar measures presented by other entities.
Forward-Looking Statements
Statements that are not reported financial results or other historical information are forward-looking statements or forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). This press release includes forward-looking statements regarding, among other things: the Company’s expected future revenue growth and customer acquisition; the future development and increased use of products incorporating artificial intelligence; the Company’s ability to scale operations and expand its enterprise customer base; the anticipated benefits of the Company’s collaboration with Twilio and the dedicated AI inference cluster, including expected benefits to deployment time, operational resilience, and addressable market in regulated industries; the Company’s intellectual property strategy and patent portfolio expansion, including expectations around the outcome of pending patent applications; expectations regarding future financial performance, including, without limitation, gross margins and the Company’s long-term gross margin profile in excess of 80%; the Company’s ability to capitalize on market demand for conversational AI; the Company’s commercial expansion and go-to-market strategies; the impact of recent leadership appointments on business performance; future profitability and operational results; the expected benefits of the Company’s listings on the TSX Venture Exchange and the Frankfurt Stock Exchange, including increased visibility and access to international investors; business and acquisition strategies; opportunities, objectives, prospects; the impact of broader economic factors on the Company; and future events and performance. Sentences and phrases containing or modified by words such as "expect", "anticipate", "plan", "continue", "estimate", "intend", "may", "will", "project", "predict", "potential", "targets", "projects", "is designed to", "strategy", "should", "believe", "contemplate" and similar expressions, and the negative of such expressions, are not historical facts and are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements in this press release are reasonable and are based on, among other things, the expectations and analysis of current market trends and opportunities of management of the Company, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including, but not limited to: risks associated with changes to SalesCloser and other product’s revenue and profitability; changes to customer preferences; competition; use cases for SalesCloser and other products; the Company’s reliance on third-party service providers, including telecommunications and AI infrastructure partners; the Company’s ability to retain key personnel and hire additional personnel; risks related to the Company’s intellectual property, including the outcome of pending patent applications and the ability to protect and enforce intellectual property rights; economic uncertainty and instability as a result of ongoing inflation and supply chain issues, higher interest rate climate, tightening of credit availability and recessionary risks; pandemic-related risks; wars; tariffs; instability in global commodity and securities markets; shifts in consumer and institutional spending and marketing strategies; risks related to data breaches and privacy; the changing global market and competition for the products and services supplied by the Company; and the additional risk factors discussed in the continuous disclosure materials of the Company which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Corporate Contact:
Adrian Lim, Chief Financial Officer
Email: [email protected]
Phone: 778-655-4329
Investor Relations Contact:
Arx Investor Relations
North American Equities Desk
[email protected]
