Fab-Form Industries Ltd. Announces Results for the Year Ended 30 June 2026

Lower sales and higher operating expenses reduced annual profit, while Missouri operations began after the fiscal year-end.

Rhea-AI Summary

Fab-Form Industries (FABFF) reported audited annual net earnings of $417,026 for the year ended June 30, 2026, down from the prior year. Earnings per share fell to $0.045 from $0.060. Revenue decreased 6.15% to $4,442,209, while gross profit fell 6.83% to $1,486,314. Operating expenses rose 18.03% to $1,135,405, and operating earnings declined 44.59% to $350,909.

Operating cash flow was $439,241 versus $646,953. Cash reached $1,595,341, compared with $1,089,925; $3,041,324 of short-term investments were redeemed to fund equipment, development and intangible assets. Property and equipment purchases totaled $2,578,765. Independent U.S. operations began in Missouri in July 2026. The company targets US$3 million in additional revenue within 24 months. Fast-Pier sales included 30,000 units to an Oregon customer; Fab-Form expects recurring sales of approximately 7,500 units monthly. Several product developments remain in testing or process development.

13 points · 0 major

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0 major · 14 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointThe Missouri branch began independent U.S. operations in July 2026; Fab-Form reports reduced tariff exposure through process re-engineering.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Fab-Form targets US$3 million in additional revenue within 24 months, supported by its U.S. presence. 28% of market cap
• Minor pointFast-Pier sales included 30,000 units to an Oregon customer.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fab-Form expects Fast-Pier recurring sales of approximately 7,500 units per month.
• Minor pointFast-Tube annual sales rose 21.13% to $147,816.

8 minor points

• Minor pointNudura insulated concrete form annual sales increased 2.27%.
• Minor pointFastfoot annual sales increased 2.85%.
• Minor pointFourth-quarter gross margin improved to 34.47% from 32.11% a year earlier.
• Minor pointShareholders' equity increased to $6,318,053 from $5,901,027 a year earlier.
• Minor pointTotal assets grew to $7,436,824 from $6,715,135 a year earlier.
• Minor pointFast-Tube 3.0 development with Hagihara reached confirmed product specifications and a fabric bonding mechanism.
• Minor pointSpace-R's design was finalized and its 10-inch molding completed.
• Minor pointFlex-R development produced an adhesive and prototype extrusion machine; production-method development continues.

Negative

• Moderate pointAnnual net earnings fell 23.73% to $417,026 from $546,764; earnings per share fell to $0.045 from $0.060.
• Moderate pointAnnual revenue declined 6.15% to $4,442,209 from $4,733,123.
• Moderate pointAnnual Bracing sales fell 53.67%; Fab-Form attributed the decline to U.S. tariffs.
• Moderate pointAnnual operating earnings declined 44.59% to $350,909 from $633,288.
• Moderate pointAnnual operating cash flow declined to $439,241 from $646,953.

9 minor points

• Minor pointAnnual Monopour sales fell 26.53%; Fab-Form attributed the decline to U.S. tariffs.
• Minor pointAnnual gross profit fell 6.83% to $1,486,314; gross margin declined to 33.46% from 33.70%.
• Minor pointAnnual general and administrative expenses increased 10.46%.
• Minor pointAnnual selling and marketing costs increased 39.27%, including participation in two trade shows.
• Minor pointAnnual other income fell 55.19% to $71,607 from $159,798.
• Minor pointFourth-quarter revenue declined to $1,319,232 from $1,495,623 a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fast-Tube 3.0 awaits sample production material and final testing before production expansion and market introduction.
• Minor point. Forward-looking: it has not happened yet and may not happen.Space-R remains in CSA certification testing requiring 16 tests; compliance-testing machinery is still being developed.
• Minor point. Forward-looking: it has not happened yet and may not happen.Flex-R's adhesive application method and production methodology remain under development.

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Delta, British Columbia--(Newsfile Corp. - October 28, 2026) - Fab-Form Industries Ltd. (TSXV: FBF) ("Fab-Form" or the "Company") announced today its audited financial results for the year ended 30 June 2026.

Financial Highlights

In spite of single family housing starts in Canada having dropped over 30% since 2023, the Company reports:

• Revenue for the year decreased 6.15% to $4,442,209 compared to $4,733,123 in the year ended 30 June 2025, mainly due to declines in Bracing sales (-53.67%) and Monopour sales (-26.53%), both severely affected by US tariffs. The decrease was partially offset by growth in Nudura Insulated Concrete Forms ("ICF") (+2.27%), Fast-Tube (+21.13%) and Fastfoot (+2.85%) sales.
• Gross profit was $1,486,314, down 6.83% from $1,595,257, with a gross margin of 33.46% compared to 33.70% in the prior year, due to lower sales of high-margin products, tariff absorption and higher depreciation of production equipment and tools.
• Operating expenses increased 18.03% to $1,135,405, driven by higher general and administrative expenses (+10.46%) and selling and marketing costs (+39.27%), including participation in two trade shows in Dubai and Las Vegas, as the Company continues to invest in its expansion strategy.
• Earnings from operations declined by 44.59% to $350,909, compared to $633,288 in the last year.
• Other income fell by 55.19% to $71,607, compared to $159,798 in the last year.
• Net earnings for the year were $417,026 ($0.045 per share), down 23.73% from the previous year's $546,764 ($0.060 per share).
• In the fourth quarter, revenue was $1,319,232 compared to $1,495,623 in the same quarter last year, and gross margin improved to 34.47% from 32.11%.

Financial Position

• As of 30 June 2026, the Company had cash and cash equivalents of $1,595,341, compared to $1,089,925 a year earlier. Short-term investments of $3,041,324 were redeemed during the year to fund purchases of property and equipment of $2,578,765, as well as investments in deferred development costs ($115,722) and intangible assets ($175,562).
• Net cash generated from operating activities was $439,241 (2025: $646,953).
• Total assets grew to $7,436,824, from $6,715,135 the previous year, and shareholders' equity increased to $6,318,053 from $5,901,027.
• The Company has no long-term debt other than lease liabilities, with total liabilities of $1,118,771, ensuring financial stability and flexibility for future growth.

Product and Market Update

Fab-Form continues to focus on its core product lines while advancing innovative solutions in concrete forming technology. The Company has also achieved significant milestones:

U.S. Expansion - Missouri Branch

To reduce the impact of U.S. tariffs, the Company established a branch in Missouri and commenced independent U.S. operations in July 2026. Through process re-engineering, the Company has reduced its tariff exposure, and the Missouri location provides quick access to all U.S. states, shortening delivery times for U.S. customers. This local presence will support distributors and contractors and ties into the Company's target of US$3 million in additional revenue within 24 months. It also provides a base to introduce Fast-Tube 3.0, Space-R®, Flex-R®, Ever-Wall and Zuckle 2XK into the U.S. market.

Fast-Tube® and Fast-Pier

Fast-Tube® sales rose 21.13% to $147,816, reflecting strong international growth. In addition to Canada, the Company has sold to customers in Australia, Belgium, Bermuda, China, Denmark, Indonesia, Jamaica, Lithuania, New Zealand, Nigeria, Norway, the Philippines, Poland, Saint Kitts and Nevis, and the United Kingdom. These sales are substantially attributed to the Company's online world presence.

The Company introduced Fast-Pier™ (18" x 9") in 2026 and sold 30,000 units to a customer in Oregon, USA. The Company expects this product to create recurring sales of approximately 7,500 units per month.

Fast-Tube® 3.0

As approximately 40% of the coated scrim weight and value is in the coating itself, the Company is working with Hagihara Industries of Japan to develop a new uncoated fabric to reduce elasticity. Key milestones were reached during the year, with the product specification and fabric bonding mechanism confirmed. The Company is waiting for sample production material from Hagihara Industries for final testing before scaling up production and introducing the product to world markets.

SPACE-R®

The Space-R® was developed to assist the introduction of the Fast-Tube® into world markets. Specifically, it:

• Holds vertical column rebar in an exact position, using integrated zip-ties.
• Provides sufficient tensile and shear strength to the concrete, using glass fiber reinforcing.
• Provides spacers to ensure there is adequate concrete cover over the steel rebar.

The Space-R design has been finalized and the molding for the 10" (250 mm) Space-R has been completed. The product is now in testing for CSA certification, which requires 16 tests, including ultimate tensile strength, modulus of elasticity and glass transition temperature. The Company is developing the machinery needed to test the final product for compliance.

FLEX-R®

Flex-R® is an under-slab insulation panel that provides an insulation capacity of R12, automatically adapts to uneven ground, and provides an under-slab damp proof membrane and air barrier exceeding code requirements. During the year, the Company developed an adhesive to bond the LDPE to the EPS and a prototype machine to extrude the adhesive. The Company continues to develop the optimum method of applying the adhesive. The Company is also working toward a production methodology so that the production machine can be licensed by EPS manufacturers across North America, northern Europe and Asia.

Forward-Looking Statements

Certain statements in this release constitute forward-looking information within the meaning of applicable securities laws. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking statements. Fab-Form Industries Ltd. does not undertake to update forward-looking statements, except as required by applicable laws.

About Fab-Form

Fab-Form Industries Ltd. is a leading innovator in concrete forming solutions, committed to enhancing construction efficiency and sustainability worldwide. The Company has been listed on the TSX Venture Exchange (TSXV: FBF) since 2000.

For further information, please contact:

Joseph Fearn
CEO, Fab-Form Industries Ltd.
Email: joey@fab-form.com
Phone: 604-596-3278
Website: www.fab-form.com

SEDAR+: www.sedarplus.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321472

FAQ

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What were Fab-Form's revenue and earnings for the year ended June 30, 2026?

Fab-Form reported revenue of $4,442,209 and net earnings of $417,026 for the year ended June 30, 2026. Revenue fell 6.15%, and net earnings declined 23.73%. Earnings per share were $0.045, compared with $0.060 in the prior year.

What is Fab-Form's revenue target for its U.S. expansion?

Fab-Form targets US$3 million in additional revenue within 24 months, supported by its Missouri presence. Independent U.S. operations began in July 2026. The company says process re-engineering has reduced tariff exposure and the Missouri location shortens delivery times for U.S. customers.

How much debt did Fab-Form report at June 30, 2026?

Fab-Form had no long-term debt other than lease liabilities at June 30, 2026. Total liabilities were $1,118,771; that figure includes liabilities beyond long-term debt.

Why did Fab-Form's annual gross margin decline?

Fab-Form attributed the gross-margin decline to lower sales of high-margin products, tariff absorption and higher depreciation of production equipment and tools. Annual gross margin was 33.46%, compared with 33.70% in the prior year.