Glow Lifetech Reports Record Q1 2026 Results 35% Yoy Revenue Growth, 27% Sequential Growth And Continued National Expansion Momentum

(MENAFN- Newsfile Corp) Glow Lifetech Reports Record Q1 2026 Results; 35% YoY Revenue Growth, 27% Sequential Growth and Continued National Expansion Momentum

May 26, 2026 7:30 AM EDT | Source: Glow Lifetech Corp.

Toronto, Ontario--(Newsfile Corp. - May 26, 2026) - Glow Lifetech Corp. (CSE: GLOW) (OTCID: GLWLF) (FSE: 9DO) (" Glow " or the " Company ") is pleased to report its financial results for the first quarter ended March 31, 2026 ("Q1 2026"). In Q1 2026, Glow delivered strong revenue growth, sustained high gross margins, improved operating efficiency, and strengthened its balance sheet, reflecting continued commercial momentum and progress toward sustainable profitability.

"Q1 marked another milestone quarter for Glow, delivering record quarterly revenue with 35% year-over-year growth and 27% sequential growth, continued strong gross margins, and our strongest EBITDA performance to date, all while maintaining disciplined expense management as we scale," said Rob Carducci, CEO, Glow Lifetech. "The momentum we built through 2025 has continued into 2026, driven by expanding penetration with leading national retailers, successful entry into new provincial and medical channels, and continued innovation across our product portfolio. As we deepen our footprint in recently launched markets and continue advancing additional provincial expansion opportunities, we believe Glow remains well-positioned to build on its commercial momentum, strengthen operating leverage, and continue progressing toward sustainable profitability."

Q1 2026 Highlights:

Record net revenue of $643,519, a 35% increase compared to prior year (Q1 2025: $478,327), representing the highest quarterly revenue in the Company's history Gross profit of $413,259, a 30% increase compared to prior year (Q1 2025: $318,024) Gross margin of 64%, a decrease from 66% in Q1 2025, reflecting sustained operational efficiency while scaling and the growing success of larger-format SKUs with higher dollar margins Total Expenses of $483,975, a modest 4% increase compared to prior year (Q1 2025: $464,963), demonstrating disciplined cost management and improving operating leverage EBITDA¹ loss narrowed to $6,971, an improvement of 90% compared to prior year (Q1 2025: ($67,116)) and nearing breakeven Cash used in operating activities was $317,074 in Q1 2026, compared to $159,739 in Q1 2025, representing an increase of 99%. This increase was primarily driven by working capital investments to support continued growth, including inventory build, higher accounts receivable from increased sales activity, and a planned reduction in accounts payable Cash balance of $1,590,927, an increase of 44% compared to prior year (Q1 2025: $1,101,804) and working capital surplus of $1,855,233, reflecting continued balance sheet strength Current ratio of 2.70x, (Q1 2025: 2.88x), highlighting the Company's financial health and flexibility to support ongoing operations and strategic growth initiatives In Q1 2026, 41,031,673 share purchase warrants and 5,025,000 stock options were eliminated. Of the warrants, 30,123,371 (76%) expired unexercised, and all 5,025,000 stock options expired unexercised. With all remaining $0.07 warrants scheduled to expire on May 29, 2026, the Company expects its warrant overhang to be fully eliminated, further simplifying its capital structure.

Q1 2026 and Subsequent Commercial Highlights:

Channel Expansion: Glow launched its MODTM and product portfolio on the Mendo Medical Cannabis platform representing Glow's first formal entry into the Canadian medical cannabis channel and extending access to registered medical patients nationwide. Market Expansion: The Company successfully expanded its MODTM and brands into Manitoba, further extending its Western Canada presence. In addition, Glow expanded its presence in New Brunswick with the launch of brand, complementing the existing MODTM portfolio in the province. Deepening Ontario Penetration: In April 2026, Glow announced it has expanded distribution of its flagship MODTM brand into two of Canada's largest cannabis retailers, adding approximately 140 new retail locations across Ontario.² Product Innovation: In April 2026, the Company announced two new innovations launching in Ontario; MODTM CBD Drops 1500 - 15 Pack which successfully launched in May 2026; and Live Resin THC 10 - 50 Capsules, a fast-acting powder-based capsule formulated with 10mg of live resin THC per capsule launching July 2026.²

2026 Outlook

Glow enters the remainder of 2026 with a strengthened financial foundation, improving operating leverage, and expanding national distribution platform. As the Company continues scaling its high-margin product portfolio across new markets and channels, management remains focused on disciplined execution, operational efficiency, and capital-efficient growth. With continued progress across commercial expansion, innovation, and capital structure simplification, Glow believes it is increasingly well-positioned to support long-term sustainable growth and shareholder value creation.

SUBSCRIBE: For more information on Glow or to subscribe to the Company's mail list, visit:

About Glow Lifetech Corp
Glow Lifetech is a Canadian-based biotechnology company focused on producing nutraceutical and cannabinoid-based products with dramatically enhanced bioavailability, absorption and effectiveness. Glow has a groundbreaking, plant-based MyCell Technology® delivery system, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates that unlock the full healing potential of the valuable compounds.

Website:

Contact:
Rob Carducci, CEO
Glow Lifetech Corp.
TF. 855-442-GLOW (4569)
...

Non-IFRS Financial Measures

The company uses supplementary financial measures as key performance indicators in its MD&A and other communications. Management uses both IFRS measures and non IFRS measures as key performance indicators when planning, monitoring and evaluating the Company's performance.
Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA") EBITDA is a non-IFRS financial measure that the Company uses to evaluate its operational performance. EBITDA provides information that management believes is useful to investors, analysts, and others in understanding and assessing the Company's core earnings capability, as it removes the effects of financing, tax, and non-operational items. The Company defines EBITDA as net income adjusted for interest, taxes, depreciation, and amortization. This measure allows stakeholders to focus on the profitability generated from operations, excluding external factors such as financing structure, tax environment, and non-cash expenses.

EBITDA	March 31, 2026	March 31, 2025
Net Loss	(58,864)	(147,608)
Interest	(3,906)	8,480
Depreciation	29,281	32,334
Amortization	32,967	32,967
Debt forgiveness	-	(7,811)
Cost of goods sold depreciation	1,497	-
Share based compensation	-	14,522
Loss (Gain) on sale of asset	(2,388)	-
Unrealized foreign exchange gain/loss	(5,558)	-
EBITDA	(6,971)	(67,116)

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "strategy", "expects" or "does not expect", "intends", "continues", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "will be taken", "will launch" or "will be launching", "will include", "will allow", "will be made" "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company's business objectives and milestones and the anticipated timing of, and costs in connection with, the execution or achievement of such objectives and milestones (including, without limitation, expanding market penetration of the Company's products, reducing operational costs, brand building and retail marketing initiatives and continued R&D and commercialization activities); the Company's future growth prospects and intentions to pursue one or more viable business opportunities; the development of the Company's business and future activities following the date hereof; expectations relating to market size and anticipated growth in the jurisdictions within which the Company may from time to time operate or contemplate future operations; expectations with respect to economic, business, regulatory, or competitive factors related to the Company or the cannabis industry generally; the market for the Company's current and proposed product offerings, as well as the Company's ability to capture market share; the distribution methods expected to be used by the Company to deliver its product offerings; the Company's strategic investments and capital expenditures, and related benefits; changes in general and administrative expenses; future business operations and activities and the timing and performance thereof; the future liquidity and financial capacity of the Company and its ability to fund its working capital requirements and forecasted capital expenditures; the competitive landscape within which the Company operates and the Company's market share or reach; the Company remaining on a positive growth trajectory; the Company's ability to obtain, maintain, and renew or extend, applicable authorizations, including the timing and impact of the receipt thereof.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company will expand and be able to maintain production capacity; continued approval of the Company's activities by the relevant governmental and regulatory authorities; the continued growth of the Company and Canadian cannabis market; the Company's successful implementation of its strategy to expand market share in cannabis industry; the Company's continuing ability to meet the requirements necessary to remain listed on the Canadian Securities Exchange and alternative exchanges; the Company selling its products in compliance with applicable laws and regulations; the Company successfully distributing the new SKUs; the Company growing its exposure, consumer and retail partnerships and securing additional product listings and market share throughout the country; the Company maintaining a continuous path of growth; the Company's in-house brands having an impact on the future development of Glow; the Company maintaining and creating new relationships with retail distributors; the Company will continue growing its revenue and building on its growth trajectory; the Company will continue to deliver value to its customers and stakeholders; and the Company becoming the partner of choice for leading Canadian and international cannabis brands.

Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Although the Company believes that the expectations reflected in these statements are reasonable, such statements are 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: the Company's inability to expand and/or maintain production capacity; the potential inability of the Company to continue as a going concern; the risks associated with the cannabis industry in general; increased competition in the cannabis extraction market; the potential future unviability of the cannabis market; risks associated with potential governmental and/or regulatory action with respect to the cannabis industry; the Company's inability to obtain continued regulatory approvals; the Company's inability to meet the requirements necessary to remain listed on the Canadian Securities Exchange and alternative exchanges; the Company's inability to sell its cannabis flower products pursuant to applicable laws and regulations; the Company's inability to grow and/or increase sales and/or in-house brands; the Company's inability to secure funds for the integration, development and distribution of new and existing SKUs; the Company's inability to secure additional product listings and grow its market share across the country; the Company's inability to secure additional partnerships; risk that the Company and/or Canadian cannabis market will not continue to grow; the Company will be unable to achieve greater success in the years ahead; the Company will be unable to deliver value to its customers and/or stakeholders; the Company's inability to become the partner of choice for leading Canadian and international cannabis brands; and the risk factors discussed under the heading "Risks and Uncertainties" in the Company's MD&A for the year ended December 31, 2024, and elsewhere in this press release, as such factors may be further updated from time to time in our periodic filings, available at , which factors are incorporated herein by reference. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

CAUTIONARY NOTE REGARDING FUTURE ORIENTED FINANCIAL INFORMATION

This press release may contain future oriented financial information (" FOFI ") within the meaning of applicable securities legislation about prospective results of operations, revenue, EBITDA, financial position or cash flows, which is subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above "Cautionary Note Regarding Forward-Looking Statements". FOFI is not presented in the format of a historical balance sheet, income statement or cash flow statement. FOFI does not purport to present the Company's financial condition in accordance with IFRS as issued by the International Accounting Standards Board, and there can be no assurance that the assumptions made in preparing the FOFI will prove accurate. The actual results of operations of the Company and the resulting financial results will likely vary from the amounts set forth in the analysis presented, and such variation may be material (including due to the occurrence of unforeseen events occurring subsequent to the preparation of the FOFI). The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments as of the applicable date. However, because this information is highly subjective and subject to numerous risks, readers are cautioned not to place undue reliance on the FOFI as necessarily indicative of future results. Except as required by applicable securities laws, the Company undertakes no obligation to update such FOFI.

Importantly, the FOFI contained in this press release are, or may be, based upon certain additional assumptions that management believes to be reasonable based on the information currently available to management, including, but not limited to, assumptions about: (i) the future pricing for the Company's products, (ii) the future market demand and trends within the jurisdictions in which the Company may from time to time conduct the Company's business, (iii) the Company's ongoing inventory levels, and operating cost estimates, and (iv) the Company's net proceeds from future financings. The FOFI or financial outlook contained in this press release do not purport to present the Company's financial condition in accordance with IFRS as issued by the International Accounting Standards Board, and there can be no assurance that the assumptions made in preparing the FOFI will prove accurate. The actual results of operations of the Company and the resulting financial results will likely vary from the amounts set forth in the analysis presented in any such document, and such variation may be material (including due to the occurrence of unforeseen events occurring subsequent to the preparation of the FOFI). The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments as at the applicable date. However, because this information is highly subjective and subject to numerous risks including the risks discussed under the heading above entitled "Cautionary Note Regarding Forward-Looking Statements" and under the heading "Risks and Uncertainties" or "Risk Factors" in the Company's public disclosures, FOFI or financial outlook within this press release should not be relied on as necessarily indicative of future results.

Readers are cautioned not to place undue reliance on the FOFI, or financial outlook contained in this press release. Except as required by Canadian securities laws, the Company does not intend, and does not assume any obligation, to update such FOFI.

¹ EBITDA is a non-IFRS measure and is not recognized, defined or standardized measures under IFRS. These measures are defined in the "Non-IFRS Measures" section of this news release.
² See Press Release dated April 30, 2026

To view the source version of this press release, please visit

Source: Glow Lifetech Corp.

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