Visionstate Adds Ontario Health Region, Expands Recurring Revenue and U.S. Footprint
Rhea-AI Summary
Visionstate (VSSSF) added a new Ontario health region covering five hospitals and associated facilities, adding five software licenses and capacity to track ~100 locations per site.
The company also expanded U.S. deployments in New York Class A office towers, adding an anticipated US$10,000 per year ($50,000 term) and CDN$8,000 per year ($40,000 term) for the Ontario contract, increasing its recurring revenue base from 160 licences. Visionstate holds ~40% of Sol Spaces, which reported 2025 revenue ~$142,000, gross profit ~$110,700 and net loss ~$12,000. A shareholder Coffee Chat is scheduled for Thursday, May 7, 20268.
Positive
- Adds 5 software licenses from Ontario health region
- Anticipated US$10,000/year incremental recurring revenue (US deployment)
- Anticipated CDN$8,000/year incremental recurring revenue (Ontario health region)
- Maintains 160 recurring licences with customers
Negative
- Sol Spaces reported a net loss of $12,000 for year ended Dec 31, 2025
- Visionstate holds an approximate 40% interest in Sol Spaces, exposing it to related losses
AI-generated analysis. How Rhea-AI works. Not financial advice.
Edmonton, Alberta--(Newsfile Corp. - April 15, 2026) - Visionstate Corp. (TSXV: VIS) today announced the addition of a new Ontario-based health region to its compliance software platform, representing five hospitals and associated facilities, while also reporting continued expansion of its footprint in the United States through additional deployments within Class A office tower environments in New York City.
These developments build on the Company's previously reported subscription growth and reflect continued adoption of its compliance platform across multiple sectors.
Visionstate has recently deployed its compliance platform across a new health region in Ontario, representing five hospitals and associated ancillary facilities, with the ability to track up to approximately 100 locations per site. This deployment adds five new software licenses to the Company's growing base of recurring revenue.
The adoption is driven in part by regulatory changes in Ontario, including Bill 190, which requires greater transparency and documentation of cleaning activities in public facilities. While the legislation came into effect on January 1, 2026, many organizations continue to implement technology solutions to meet compliance requirements.
"This deployment demonstrates both the scalability of our platform and our ability to onboard complex healthcare environments efficiently," said John Putters, CEO of Visionstate Corp. "Healthcare operators are under increasing pressure to document compliance, and our platform provides a structured, digital solution to meet those requirements."
Visionstate emphasized that its business model is based on software-as-a-service, where each new deployment contributes to a growing base of recurring revenue.
The Company also reported continued expansion of its footprint in the United States, including a recent purchase order supporting further deployment within Class A office tower environments in New York City. These deployments include additional annual license fees for Visionstate's compliance solutions, including tablets and IoT-based devices, and reflect continued adoption by an existing global customer.
The new deployments will add an anticipated
"This expansion within an established customer environment demonstrates both satisfaction with the platform and the ability to scale across large, complex portfolios," said Putters.
Sol Spaces Operational Update
Visionstate also provided an update on Sol Spaces Inc., a company focused on modular greenhouse and utility space solutions, in which Visionstate holds an approximate
For the year ended December 31, 2025, Sol Spaces reported:
- Total revenue of approximately
$142,000 - Gross profit of approximately
$110,700 - Net loss of approximately
$12,000
Revenue was generated through a combination of development services, hardware sales, greenhouse products, and installation services.
Sol Spaces recently participated in the Edmonton Home and Garden Show, where interest in its greenhouse products was strong and resulted in multiple sales following the event.
Management believes this demand reflects broader trends, including rising food costs, supply chain disruption, and increased interest in local food production.
"Sol Spaces is as much a technology company as it is a builder," said Putters. "Advancements in climate control, energy efficiency, and integrated systems are enabling more effective local food production, which is becoming increasingly important in today's environment."
Upcoming Shareholder Update
Visionstate will host its next Coffee Chat shareholder update on:
Thursday, May 7, 2026
8:30 AM to 10:00 AM MST
10:30 AM to 12:00 PM EST
The session will follow the release of the Company's Q2 financial results. Shareholders and interested participants may request login details by contacting: info@visionstate.com
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a technology company focused on compliance-driven subscription solutions for regulated and high-traffic facilities. Through its wholly owned subsidiary, Visionstate IoT Inc., the Company delivers the MIRA platform, which enables organizations to digitally verify, audit, and document operational activities in support of regulatory transparency and accountability requirements.
The Company's subscription-based platform is deployed across hospitals, airports, shopping centres, educational institutions, and other public facilities across North America.
Issued on behalf of the Board of Directors,
"John A. Putters"
Visionstate Corp.
To learn more, please contact:
Visionstate Corp.
John Putters, CEO
Email: jputters@visionstate.com
Tel: 780-425-9460
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
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