Titan Logix Corp. Reports Q1 Fiscal 2026 Financial Results

(In $000’s of Canadian dollars except for shares and per share amounts)

Edmonton, Alberta–(Newsfile Corp. – January 21, 2026) – Titan Logix Corp., (TSXV: TLA) (“Titan” or the “Company”), a technology company specializing in mobile liquid measurement solutions, announces its first quarter results for the three-month period ended November 30, 2025.

“We are excited to announce an integration partnership with a leading provider of custody transfer meters in the refined fuels market,” says Nick Forbes, CEO at Titan. “The partnership strengthens our brand and provides new channels to market.”

During the first quarter of fiscal 2026, the Company completed its first sales of new products into the refined fuels market. We will focus on commercial rollout activities in the coming months including sales, installation, and product training with identified OEM partners. The company will also be launching a broader marketing campaign targeting fleet operators during the second quarter. We are excited to announce an integration partnership with Liquid Controls, a market leader in custody transfer metering in refined fuels. The integration between the Titan FINCH display and the Liquid Controls LCRiQ register provides fleet operators with automated inventory management, eliminating manual data entry during operation. The partnership helps to build credibility and brings new value to the refined fuels market.

Q1 FISCAL 2026 HIGHLIGHTS

• Revenues for the first quarter of fiscal 2026 decreased by $713 or 33% to $1,447 compared to $2,160 in the first quarter of fiscal 2025 driven by a large fleet conversion sale completed in the comparative period and modest decrease in demand being experienced in the Company’s core market in the current period.
• Cost of sales in the quarter increased to 59% of revenues, representing an increase of 15% from the same period of fiscal 2025 where cost of sales was 44% of revenues. The Company has increased its fixed cost structure over the past year to meet the expected demands associated with releasing new products, penetrating new markets, and overall revenue growth.
• Gross Profit decreased by $615 to $588 or 41% of revenue in the first quarter of fiscal 2026 compared to $1,203 or 56% in the first quarter of fiscal 2025, driven mainly by reduced revenues and increased fixed cost portion of cost of sales.
• The performance of the core business declined in the first quarter of fiscal 2026 with a reported Operating EBITDA₍₁₎ loss of $73 compared to Operating EBITDA₍₁₎ of $663 in the first quarter of fiscal 2025.
• Total product research and development expenditures₍₁₎ decreased by $220 to $282 in the first quarter of fiscal 2026 compared to $502 in the first quarter of fiscal 2025, as certain development projects have now been completed.
• The Company’s net earnings decreased by $587 to a net loss of $340 in the first quarter of fiscal 2026 compared to net income of $246 in the first quarter of fiscal 2025 with decreased operating results driven by reduced revenues and gross profit.
• The Company reported basic and diluted loss per share of $0.01 per share in the first quarter of fiscal 2026 compared to basic and diluted earnings per share of $0.01 in the same period of fiscal 2025.
• The Company implemented a Normal Course Issuer Bid (“NCIB”) in April of 2025 to re-purchase and cancel up to 1,759,649 of the Company’s outstanding common shares, representing approximately 10% of the public float of issued and outstanding common shares. As at November 30, 2025, the Company repurchased 1,218,500 common shares at an average price of $0.71 per share plus transactions costs representing approximately 69% of the total amount eligible for repurchase.

(1) See NON-IFRS Measures

Financial Highlights Summary

OPERATING RESULTS SUMMARY	Three Months Ended November 30
	2025	2024	Increase (Decrease)
	$	$	$	%
Revenue	1,447	2,160	(713)	(33)
Cost of sales	(860)	(957)	97	(10)
Gross profit	588	1,203	(615)	(51)
Gross margin (%)	41%	56%		(15)
Operating EBITDA (1)	(73)	663	(737)	(111)
Product research and development expenses (1)	(238)	(333)	95	28
Adjusted EBITDA (1)	(312)	330	(642)	(195)
Net earnings (loss)	(340)	246	(587)	–
EPS – Basic and Diluted	(0.01)	0.01	(0.02)

 

Financial Position	As at November 30, 2025	As at August 31, 2025
Working capital	$ 13,880	$ 14,395
Total assets	$ 17,149	$ 17,893
Long-term liabilities	$ 420	$ 457
Total equity	$ 15,937	$ 16,410

 

(1) See non-IFRS measures below.

The Company’s unaudited interim consolidated financial statements and the management’s discussion and analysis (“MD&A”) which includes the Company’s Business Outlook, for the three-month period ended November 30, 2025, are available on SEDAR+ at www.sedarplus.ca and the Company’s website, www.titanlogix.com.

NON-IFRS MEASURES
The Company uses certain measures in this MD&A that do not have a standardized meaning as prescribed by IFRS (International Financial Reporting Standards) and thus are prohibited from being disclosed in the consolidated financial statements. These measures, which are derived from information reported in the Company’s consolidated financial statements, may not be consistent with similar measures presented and disclosed by other reporting issuers. However, management believes that this information provides increased insight into the Company’s strategic plan to address the broader mobile liquid markets. Readers are cautioned that these non-IFRS measures should not be construed as alternatives to other measures of financial performance calculated in accordance with IFRS.

The table below provides a reconciliation of the Company’s Adjusted EBITDA and Operating EBITDA to the Operating income (loss) before other items per the interim consolidated financial statements for the periods presented:

Fiscal Period Ended	Q1 2026	Q1 2025
Operating income (loss) before other items	(385)	226
Add back: Depreciation and amortization	71	97
Add back: Non-cash stock-based compensation	1	7
Adjusted EBITDA	(312)	330
Add back: Product research and development expenses	238	333
Operating EBITDA	(73)	663

 

The table below, removes the recurring engineering expenses from the total to isolate the product research and development expenses excluded in Management’s calculation of Operating EBITDA and also includes capitalized development costs to capture the total expenditures on product research and development:

Fiscal Period Ended	Q1 2026	Q1 2025
Engineering, product research and development expenses	(339)	(361)
Add back: Recurring engineering expenses	100	28
Product research and development expenses	(238)	(333)
Add in: Deferred development costs capitalized	(43)	(168)
Total product research and development expenditures	(282)	(502)

 

A detailed definition of these non-IFRS measures can be reviewed in the Company’s MD&A

About Titan Logix Corp.:

For over 25 years, Titan Logix Corp. has designed and manufactured mobile liquid measurement solutions to help businesses reduce risk and maximize efficiencies in bulk liquids transportation. Titan’s TD Series of tank level monitors are a market leader in mobile fluid measurement, and are known for their high level of accuracy, rugged design, and solid-state reliability. Our solutions are designed for hazardous and non-hazardous applications, and we serve customers in a wide range of applications including petroleum, environmental solutions, chemical, and agriculture.

Founded in 1979, Titan Logix Corp. is a public company listed on the TSX Venture Exchange and its shares trade under the symbol TLA.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information in this press release that is not current or historical factual information may constitute forward looking information within the meaning of securities laws. Implicit in this information are assumptions regarding our future operational results. These assumptions, although considered reasonable by the company at the time of preparation, may prove to be incorrect. Readers are cautioned that the actual performance of the company is subject to many risks and uncertainties and could differ materially from what is expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our Management Discussion and Analysis in respect of the year ended August 31, 2025, which is available at www.sedarplus.ca. In addition, the occurrence of pandemics, such as the outbreak of the novel coronavirus COVID-19 in any of the areas in which the Company, its customers or its suppliers operate could cause interruptions in the Company’s operations. In addition, pandemics, natural disasters, or other unanticipated events could negatively impact the demand for, and price of, oil and natural gas which in turn could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows. The forward-looking information contained in this press release is based on our current estimates, expectations, and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any time, whether a result of new information, future events or otherwise, except as required by applicable securities law

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