Toronto, Ontario – April 29, 2025 – Hybrid Power Solutions Inc. (CSE: HPSS) (OTC: HPSIF) (FSE: E092) (“Hybrid” or the “Company”) announces financial results for the three and nine months ended February 28, 2025. The Company’s unaudited interim financial statements and management’s discussion and analysis (“MD&A”) for the three and nine months ended February 28, 2025 are available on SEDAR at www.sedarplus.ca and on the Hybrid investor website at www.investhps.com.
Q3 2024 Highlights
- For the nine months ending February 28, 2025, the Company reported revenue of $2,691,254, a 52.7% increase compared to $1,761,899 for the same period ended February 29, 2024.
- For the nine months ending February 28, 2025, the Company achieved a gross margin of $753,813, reflecting a $322,362 increase from $431,451 for the same period ending February 29, 2024.
- For the nine months ending February 28, 2025, the Company reduced total expenses to $3,068,005, a significant decrease of $2,159,003 from $5,227,008 for the same period ended February 29, 2024.
- Secured major order from leading United States construction company.
- Received multiple purchase orders from Colony Hardware.
- The Company successfully completed a pilot program for a national home builder, installing a Hybrid Spark alongside an existing diesel generator to power tools such as air compressors, lighting, and chargers for framing eight homes, achieving a 64% reduction in fuel consumption, a 76% reduction in generator operating hours, and 100% uptime, surpassing expectations.
- A second pilot program at a commercial factory construction site, utilizing a Spark, a 2000W solar array, and the customer’s existing diesel generator, powered a large restroom facility, achieving a 63% reduction in fuel costs and a 73% reduction in generator operating time
“Our latest financial results underscore our dedication to reducing operating costs while paving the way for profitability and sustained growth,” said Francois Byrne, CEO of Hybrid Power Solutions. “We are excited to focus on expanding our sales team and driving sustainable sales momentum into late 2025 and 2026.”
Outlook
Hybrid Power Solutions anticipates continued growth and market acceptance of its innovative energy solutions, with multiple demo and test units currently deployed in the field yielding positive feedback. The Company is focused on expanding its product footprint across diverse industries while advancing the integration of AI technology into its product line to enhance performance, efficiency, and user experience, positioning Hybrid for sustained success in the evolving energy sector.
Financial Results
| 9m Feb 28, 2025 | 9m Feb 28, 2024 | 3m Feb 28, 2025 | 3m Feb 28,2024 | |
| Revenue | $2,691,254 | $1,761,899 | $619,539 | $720,132 |
| Cost of Sales | $1,937,440 | $1,330,448 | $492,936 | $564,813 |
| Gross Profit | $753,813 | $431,451 | $126,602 | $155,319 |
| Expenses | $3,068,005 | $5,227,008 | $874,096 | $2,033,766 |
| Net Income (Loss) | $(2,422,318) | $(5,012,026) | $(739,734) | $(1,887,957) |
About Hybrid Power Solutions
Hybrid Power Solutions Inc. is a Canadian clean energy innovator listed on the Canadian Securities Exchange under the symbol “HPSS.” The Company specializes in developing portable power systems that eliminate the need for fossil fuels in off-grid and remote applications. With a focus on environmental responsibility and technological innovation, Hybrid Power Solutions is committed to leading the clean energy transition.
On behalf of the Company,
Francois Byrne
CEO and Director
For further information, inquiries, or media opportunities, please contact:
E: invest@hybridps.ca
T: 866-549-2743
Dean Stuart, Investor Relations
T: 403-617-7609
Forward-Looking Statements
Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by terminology such as “will,” “expects,” “anticipates,” or variations of such words and phrases, or by statements that certain actions, events, or results “will” occur. Forward-looking statements are based on management’s estimates as of the date such statements are made and are subject to risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such statements.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
