Visionstate Reports Accelerating Subscription Growth and Expansion of MIRA Compliance Platform

Rhea-AI Summary

Visionstate (OTC: VSSSF) reported continued subscription growth and expanded MIRA platform deployments, adding 11 new location subscriptions across 12 installations from early February to mid‑March 2026. This generated about $11,000 in quarter revenue and roughly $33,000 of annual license fees.

The company now reports ~145 active annual location subscriptions, pricing at ~$960 per location annually and optional MIRA Inspections at ~$80/month per location. New distributor activity includes U.S. healthcare pilots and a film production studio segment; management reiterates ~400 monthly subscriptions needed to reach operating break‑even.

Positive

• 11 new location subscriptions added (12 installations)
• $33,000 in annualized license fees from recent deployments
• 145 active annual location subscriptions now on platform
• U.S. healthcare pilot deployments with two hospitals and ambulatory centre
• New distributor initiated installations expanding industry segments

Negative

• Break‑even gap: ~145 active vs ~400 required monthly subscriptions
• Quarter revenue contribution of ~$11,000 is modest vs break‑even need
• Concentration risk: recent growth driven primarily by one distribution partner

Edmonton, Alberta--(Newsfile Corp. - March 18, 2026) - Visionstate Corp. (TSXV: VIS) today provided an operational update highlighting continued subscription growth and expanding adoption of its MIRA compliance platform, building on the baseline metrics previously reported for fiscal 2026.

Since the Company's last update, Visionstate has added 11 new location subscriptions across 12 installations during the period from early February through mid-March 2026, further strengthening its recurring revenue base. This represents approximately $11,000 in new revenue for the quarter and approximately $33,000 in annual license fees to be invoiced each January.

As a subscription-based model, these revenues are cumulative, with each new deployment building on the existing base and increasing the predictability and scale of recurring revenue over time. The Company currently reports approximately 145 active annual location subscriptions, representing its existing recurring revenue base, which continues to grow through new deployments and subscription additions.

"This level of growth, driven through a single distribution partner, provides a clear foundation for scaling the MIRA platform," said John Putters, CEO of Visionstate Corp. "As we expand our distribution footprint, particularly into the U.S., we believe this model will support a higher rate of subscription growth going forward."

MIRA is Visionstate's compliance-intelligence platform designed to help facilities digitally verify cleaning activities, conduct inspections, and generate audit-ready data in real time. As regulatory requirements and liability considerations increase, such as Bill 190 in Ontario, facility operators are moving away from manual logs toward systems that provide verifiable, time-stamped records of work performed.

Across healthcare, public venues, transportation hubs, and commercial buildings, the ability to demonstrate compliance is becoming a legislated or baseline expectation rather than an added feature. MIRA addresses this shift by transforming routine operational tasks into structured, reportable data that supports transparency, accountability, and informed decision-making.

Healthcare Pilot and New Market Penetration

Three of the new subscriptions were deployed under a pilot agreement with a U.S.-based facilities services distributor, representing early installations across multiple healthcare facilities. These initial deployments include two large regional hospitals and an ambulatory care centre within a major metropolitan healthcare system.

"These early installations demonstrate the importance of compliance verification in high-traffic environments such as healthcare," said Putters. "Organizations are increasingly focused on documented cleaning standards, audit readiness, and liability management, all of which are supported through the MIRA platform."

Expansion Across Multiple Facility Types

In addition to the healthcare pilot deployments, four additional subscriptions were added across five locations, including industrial facilities, educational environments, large public venues, and airport-related service operations.

These deployments highlight the broad applicability of the MIRA platform across diverse facility types where compliance, operational transparency, and customer confidence are critical.

"These are cumulative, multi-year subscription agreements that contribute to our growing recurring revenue base," Putters added. "Each additional deployment strengthens the foundation of the platform and moves us closer to operating scale."

New Distributor Activity

The Company also confirmed that a newly onboarded distributor has initiated installations, contributing four additional locations to the platform. These early deployments include a film production studio facility, representing a new industry segment for Visionstate's compliance technology. The value of this relationship is expected to contribute additional recurring revenue through annual license renewals and support the Company's path toward operating scale.

Subscription Model and Path to Scale

Visionstate's subscription model is structured around recurring location-based pricing of approximately $960 per location annually, with additional modules such as MIRA Inspections available at approximately $80 per month per location.

Management continues to view subscription growth as the primary driver toward profitability. As previously disclosed, approximately 400 active monthly location subscriptions are estimated to be required to achieve operating break-even within Visionstate IoT Inc., the Company's operating subsidiary.

"These recent additions build on our existing subscription base and demonstrate the early momentum of our compliance-intelligence model," said Putters. "With additional distributors coming online, we expect this growth trajectory to continue as additional distribution channels come online."

Compliance-Driven Market Opportunity

Visionstate continues to position MIRA as a compliance-intelligence platform designed to support:

• Regulatory requirements such as Ontario's Bill 190
• Digital verification of cleaning and operational workflows
• Inspection auditing and documentation
• Liability mitigation related to facility conditions
• Data-driven operational decision-making

Management believes these trends reflect a broader shift toward accountability and transparency across physical environments.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288853

FAQ

How many new subscriptions did Visionstate (VSSSF) add in March 2026?

Visionstate added 11 new location subscriptions across 12 installations. According to the company, these deployments occurred from early February through mid‑March 2026 and contributed about $11,000 in revenue for the quarter and $33,000 annualized.

What is Visionstate's current recurring subscription base for MIRA (VSSSF)?

Visionstate reports approximately 145 active annual location subscriptions. According to the company, this represents the current recurring revenue base, which the firm says is growing through new deployments and distributor activity.

What pricing does Visionstate (VSSSF) use for MIRA subscriptions and modules?

Base location pricing is about $960 per location annually, with MIRA Inspections at roughly $80 per month per location. According to the company, modular pricing supports recurring license revenue and optional add‑ons.

How close is Visionstate (VSSSF) to reaching operating break‑even?

Visionstate needs roughly 400 active monthly location subscriptions to reach break‑even at its Visionstate IoT subsidiary. According to the company, the current ~145 active subscriptions indicate a material gap to the stated break‑even level.

What new markets did Visionstate (VSSSF) enter with recent MIRA deployments?

Recent deployments include a U.S. healthcare pilot with two regional hospitals and an ambulatory centre, plus a film production studio. According to the company, these expand MIRA into healthcare and new industry segments via distributors.

What revenue impact did the recent MIRA deployments have for Visionstate (VSSSF)?

The recent additions generated about $11,000 in quarter revenue and roughly $33,000 in annualized license fees. According to the company, these are cumulative recurring revenues that add predictability as deployments scale.