GOWell subsidiary H1 2026 revenue rises 43% to $33.8M
GOWell reaffirmed FY2026 revenue and Adjusted EBITDA targets, with ranges of $60 million to $68 million and $25 million to $29 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
GOWell Energy Technology (GOW) reported first-half 2026 results for its operating subsidiary, GOWell Technology Limited: revenue was $33.8 million, up 43% from $23.6 million a year earlier. Operating profit increased 135% to $9.1 million, net profit rose 38% to $3.7 million, and non-IFRS Adjusted EBITDA increased 79% to $14.1 million. Revenue growth was driven primarily by a $9.0 million increase in equipment sales and a $1.2 million increase in service revenue.
GTL reported $4.3 million in finance costs, primarily related to redeemable preference shares, and a $1.6 million fair-value loss on derivatives, which partly offset higher operating profit. GTL’s cash and cash equivalents were $2.9 million as of June 30, 2026, compared with $6.8 million as of December 31, 2025.
GOWell reaffirmed FY2026 guidance of $60 million to $68 million in revenue and $25 million to $29 million in Adjusted EBITDA; 2025 reported revenue and Adjusted EBITDA were $47.2 million and $17.8 million. The company completed its business combination with Inflection Point on September 25, 2026, and began trading on Nasdaq on September 28, 2026. The guidance is based on variables and assumptions described as inherently uncertain.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointFirst-half revenue increased 43% to $33.8 million.
- Moderate pointFirst-half operating profit increased 135% to $9.1 million.
- Moderate pointFirst-half net profit increased 38% to $3.7 million.
- Moderate pointFirst-half Adjusted EBITDA increased 79% to $14.1 million.
Negative
- None.
Filing Explained
First-half figures are preliminary and unaudited; the $14.1 million Adjusted EBITDA measure adds back specified costs and derivative fair-value losses.
The first-half figures are preliminary and unaudited, and may change as GOWell completes its financial closing and review processes.
The company defines Adjusted EBITDA as EBITDA excluding charges management considers non-recurring or unusual; its reconciliation lists addbacks for manufacturing start-up, ERP implementation, going-public costs and derivative fair-value losses.
Key Figures
Key Terms
Adjusted EBITDA financial
fair value loss on derivatives financial
operating leverage financial
FAQ
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What was GOWell's first-half 2026 revenue?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2026
Commission File Number 001-43484
GOWell Energy Technology
(Translation of registrant’s name into English)
1 BULIM LANE 2 #04-51/54
648110 Singapore
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
☒ Form 20-F ☐ Form 40-F
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
On October 21, 2026, GOWell Energy Technology (Nasdaq: GOW) (the “Company”) issued a press release (the “Press Release”) announcing the unaudited financial results of GOWell Technology Limited, a Cayman Islands exempted company and the principal operating subsidiary of the Company (the “Operating Subsidiary”), for the six months ended June 30, 2026. A copy of the Press Release is furnished as Exhibit 99.1 to this Report on Form 6-K (this “Report”).
In connection with the issuance of the Press Release, the Company has elected to furnish (i) the unaudited condensed consolidated interim financial statements of the Operating Subsidiary as of June 30, 2026 and for the six months ended June 30, 2026 and 2025, as Exhibit 99.2 to this Report, and (ii) the unaudited condensed consolidated interim financial statements of the Company as of June 30, 2026 and for the six months ended June 30, 2026, as Exhibit 99.3 to this Report.
The information in this Report, including Exhibits 99.1, 99.2, 99.3 and 99.4, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
EXHIBIT INDEX
| Exhibit | Description | |
| 99.1 | GOWell Energy Technology press release, dated October 21, 2026 | |
| 99.2 | Unaudited condensed consolidated interim financial statements of GOWell Technology Limited as of June 30, 2026, and for the six months ended June 30, 2026 and 2025 | |
| 99.3 | Unaudited condensed consolidated interim financial statements of GOWell Energy Technology as of June 30, 2026, and for the six months ended June 30, 2026 | |
| 99.4 | Investor Presentation of the Company |
1
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: October 21, 2026 | GOWell Energy Technology | ||
| By: | /s/ Guillaume Borrel | ||
| Name: | Guillaume Borrel | ||
| Title: | Chief Executive Officer | ||
2
Exhibit 99.1
GOWell Energy Technology Reports Operating Subsidiary’s First Half 2026 Financial Results and Provides Corporate Update
| ● | Revenue in the first half of 2026 of $33.8 million, a 43% increase compared to the same period of 2025 | |
| ● | Operating Profit was $9.1 million in the first half of 2026, a 135% increase compared to the same period of 2025 | |
| ● | Net profit was $3.7 million in the first half of 2026, a 38% increase compared to the same period of 2025 | |
| ● | For fiscal year 2026, the Company reiterates guidance for total revenue of $60 million to $68 million | |
| ● | Adjusted EBITDA in the first half of 2026 of $14.1 million, a 79% increase compared to the same period of 2025 | |
| ● | GOWell completed its business combination with Inflection Point Acquisition Corp. V on September 25, 2026, and its ordinary shares began trading on Nasdaq on September 28, 2026 under the ticker symbol “GOW” |
SINGAPORE and HOUSTON, October 21, 2026 – GOWell Energy Technology (“GOWell” or the “Company”), a global one-stop shop for innovative well-logging solutions in the energy sector, today announced results of GOWell Technology Limited, a Cayman Islands exempted company (“GTL”) and a wholly-owned subsidiary of the Company, for the first half of 2026 and provided an update on its outlook for full year 2026 results. The historical financial results presented in this press release are those of GTL, the target operating company in that certain business combination transaction involving the Company, GTL and Inflection Point Acquisition Corp. V, prior to the effective date of such business combination.
“We are pleased to announce a strong start to the year as we generated significant growth across our business during the first half of 2026 with Revenue, Operating Profit and Adjusted EBITDA all displaying significant increases over the prior year,” commented Guillaume Borrel, GOWell’s Chief Executive Officer. “Our journey through 2026 to date has been defined by organizational development, strong operating results and positive momentum in our business which we expect to continue through the second half of 2026. Our business model and pipeline remain robust as our well-logging technologies bring impactful solutions to the global energy marketplace.”
“The continued execution of our strategic vision has led GOWell to new heights in 2026. Our strong financial performance across the first half of 2026 coincides with the closing of our business combination with Inflection Point and beginning of trading on the Nasdaq. Our transition into the public market gives us access to capital and the visibility to scale our platform as a trusted developer and provider of sensor solutions. We remain intently focused on advancing our objectives and delivering our solutions efficiently in this time of increased energy volatility,” added Mike Reed, GOWell’s Chief Financial Officer.
First Half 2026 Financial Summary of GOWell Technology Limited
Total revenue in the first half of 2026 increased 43% to $33.8 million compared to $23.6 million in the first half of 2025, primarily driven by an increase of $9.0 million in revenues from equipment sales and $1.2 million from service revenue. Operating profit increased by 135% to $9.1 million from $3.9 million. Net profit increased 38% to $3.7 million from $2.7 million, as higher operating profit was partly offset by $4.3 million in finance costs, primarily related to redeemable preferred shares, and a $1.6 million fair value loss on derivatives. Adjusted EBITDA, a non-IFRS metric, increased 79% to $14.1 million during the period, as compared to $7.9 million in the first half of 2025, supported by revenue growth and operating leverage.
Full Fiscal Year 2026 Outlook
GOWell reiterates total revenue guidance for the full fiscal year 2026 in the range of $60 million to $68 million, an increase of approximately 27% to 44% as compared to $47.2 million reported for fiscal year 2025. The Company also reiterates Adjusted EBITDA guidance for the full fiscal year 2026 in the range of $25 million and $29 million, an increase of approximately 40% to 63% as compared to $17.8 million reported for fiscal year 2025.
The above guidance was prepared based on numerous variables and assumptions which are inherently uncertain and may be beyond the control of GOWell. For more information regarding this guidance, its underlying assumptions and the reconciliation of non-IFRS financial measures, please see the sections entitled “The Business Combination—Certain Projected Financial Information” in the Company’s Proxy Statement/Registration Statement on Form F-4 filed in connection with the business combination, “Non-IFRS Financial Measures,” and “Forward-Looking Statements” below.
Non-IFRS Financial Measures
EBITDA and Adjusted EBITDA are non-IFRS financial measures used by our management to evaluate our operating performance. We believe that they provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and board of directors.
These non-IFRS financial measures are not defined under IFRS and are not presented in accordance with IFRS. They should not be considered in isolation or construed as an alternative to net profit or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review these historical non-IFRS financial measures in light of their most directly comparable IFRS measures, as shown below. The non-IFRS financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial
measure.
The table below sets forth the full reconciliation of GTL’s historical non-IFRS financial measures:
| For the Six Months Ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| (Unaudited) | (Unaudited) | |||||||
| $000 | $000 | |||||||
| Net profit | 3,699 | 2,680 | ||||||
| Add: | ||||||||
| Interest expense on loan | 5 | 28 | ||||||
| Interest expense on Company Preferred Shares | 2,635 | — | ||||||
| Interest expense on lease liability | 117 | 127 | ||||||
| Income tax expense | 1,112 | 1,094 | ||||||
| Depreciation and amortization expenses | 3,499 | 2,897 | ||||||
| EBITDA | 11,067 | 6,826 | ||||||
| Add: | ||||||||
| Manufacturing Startup Costs | 924 | 954 | ||||||
| ERP Implementation Costs | 175 | — | ||||||
| Go Public Costs | 369 | 106 | ||||||
| Fair Value loss on derivatives | 1,587 | — | ||||||
| Adjusted EBITDA | 14,122 | 7,886 | ||||||
2
The table below sets forth the full reconciliation of GOWell’s non-IFRS financial measures as projected:
| Year Ending December 31, 2026 | ||||||||
| Low | High | |||||||
| (Unaudited) | (Unaudited) | |||||||
| $000 | $000 | |||||||
| Revenue | 60,000 | 68,000 | ||||||
| Net profit | 5,912 | 8,845 | ||||||
| Add: | ||||||||
| Interest income on loan | (548 | ) | (548 | ) | ||||
| Interest expense on loan | 10 | 10 | ||||||
| Interest expense on Company Preferred Shares | 6,508 | 6,508 | ||||||
| Interest expense on lease liability | 234 | 234 | ||||||
| Income tax expense | 1,346 | 2,054 | ||||||
| Depreciation and amortization expenses | 7,492 | 7,856 | ||||||
| EBITDA | 20,954 | 24,959 | ||||||
| Add: | ||||||||
| Manufacturing Startup Costs | 1,386 | 1,386 | ||||||
| ERP Implementation Costs | 325 | 325 | ||||||
| Go Public Costs | 750 | 750 | ||||||
| Fair Value loss on derivatives | 1,600 | 1,600 | ||||||
| Adjusted EBITDA | 25,015 | 29,020 | ||||||
Webinar Call Information
GOWell plans to host a webinar on Wednesday, October 21 at 10 a.m. Eastern Time to discuss the Company’s first half 2026 financial results and outlook. This webinar will be led by GOWell management including CEO Guillaume Borrel, CFO Mike Reed and VP of Corporate Development David MacNeill. To register for this webinar, please use the registration link found here. Additionally, for those unable to listen to the live webcast, a recording will be available following the live event on GOWell’s website at https://www.gowell.energy/.
About GOWell Energy Technology
GOWell Energy Technology is an international company that provides a wide range of innovative well-logging technologies and distributed sensing solutions for energy companies globally. The Company maintains a multi-disciplinary research and development team with a robust patent portfolio of technology aimed to solve complex industry challenges. GOWell’s solutions can be applied to a wide range of wells from traditional energy to energy transition. The Company has a global, diverse customer base with long-term relationships with the key major oil service companies and operators in the energy sector. Headquartered in Singapore, GOWell has a global manufacturing and procurement network, with regional hubs in the United States and UAE in addition to regional operations that cover more than 50 countries.
For more information about GOWell Energy Technology, visit https://www.gowell.energy/.
3
Forward Looking Statements
This press release includes or may include “forward-looking statements” regarding, among other things, the plans, strategies and prospects, both business and financial, of GOWell Energy Technology and its subsidiaries. These statements are based on the beliefs and assumptions of the management of the Company. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, and any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “predicts,” “projects,” “forecasts,” “may,” “might,” “will,” “could,” “should,” “would,” “seeks,” “plans,” “scheduled,” “possible,” “continue,” “potential,” “anticipates” or “intends” or similar expressions; provided that the absence of these does not mean that a statement is not forward-looking. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and our actual results could differ materially from those anticipated in these forward-looking statements.
Important factors that could cause actual results to differ materially from those discussed in the forward-looking statements include: general economic, political and business conditions; the outcome of any legal proceedings that may be instituted against the Company or its subsidiaries; the Company’s capitalization and the market value of its securities following the consummation of the Business Combination; the ability of GOWell to issue equity, equity-linked or other securities in the future; the ability of the Company to realize the anticipated benefits of the Business Combination; the risks related to the rollout of GOWell’s business and the timing of expected business milestones; the ability of GOWell to execute its growth strategy, manage growth profitably and retain its key employees; the ability of GOWell to maintain the listing of its securities on the Nasdaq Stock Market LLC following the Business Combination; and other risks and uncertainties indicated in the Proxy Statement/Prospectus filed in connection with the Business Combination and in GOWell’s other filings with the U.S. Securities and Exchange Commission. Undue reliance should not be placed upon the forward-looking statements.
These forward-looking statements are made only as of the date of this press release. The Company does not undertake any obligation to publicly update or revise any forward-looking statement contained in this press release, whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Investor Relations Contact:
Gateway
Group
Georg Venturatos, Patrick Hall
949-574-3860
GOWell@gateway-grp.com
Media Relations Contact:
Gateway
Group
Zach Kadletz, Ryan Deloney
949-574-3860
GOWell@gateway-grp.com
4
GOWELL TECHNOLOGY LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Amounts in U.S. Dollars, except for number of shares)
| As
of June 30, 2026 | As
of December 31, 2025 | |||||||
| Unaudited | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 2,910,012 | $ | 6,751,021 | ||||
| Restricted cash | 201,596 | 10,000 | ||||||
| Trade receivables, net | 25,737,317 | 18,008,048 | ||||||
| Inventories, net | 17,197,546 | 15,569,533 | ||||||
| Amounts due from related parties | 49,941 | 44,405 | ||||||
| Long-term receivables, current | 511,884 | 551,302 | ||||||
| Deferred offering costs | 2,937,959 | 2,614,409 | ||||||
| Prepaid expenses and other current assets | 3,422,311 | 1,915,525 | ||||||
| Total current assets | 52,968,566 | 45,464,243 | ||||||
| Non-current assets | ||||||||
| Rental equipment, net | 22,987,058 | 22,761,997 | ||||||
| Property and equipment, net | 3,955,436 | 1,984,734 | ||||||
| Intangible assets, net | 5,087,694 | 2,792,272 | ||||||
| Right-of-use assets, net | 5,145,360 | 5,614,107 | ||||||
| Long-term receivables, net | — | 28,489 | ||||||
| Deferred tax asset, net | 3,666,142 | 3,318,591 | ||||||
| Other non-current assets | 556,649 | 488,715 | ||||||
| Total non-current assets | 41,398,339 | 36,988,905 | ||||||
| Total Assets | $ | 94,366,905 | $ | 82,453,148 | ||||
| LIABILITIES AND EQUITY | ||||||||
| LIABILITIES | ||||||||
| Current liabilities | ||||||||
| Trade payables | $ | 4,009,799 | $ | 789,134 | ||||
| Trade payables – related parties | 5,118,377 | 4,104,133 | ||||||
| Accruals and other payables | 6,129,848 | 4,860,484 | ||||||
| Loans payable, current | 24,877 | 25,149 | ||||||
| Amounts due to related parties, current | 83,179 | 80,231 | ||||||
| Income tax payable | 1,875,857 | 1,513,137 | ||||||
| Operating lease liabilities, current | 1,731,623 | 1,684,479 | ||||||
| Total current liabilities | 18,973,560 | 13,056,747 | ||||||
| Non-current liabilities | ||||||||
| Loans payable, non-current | 23,367 | 37,262 | ||||||
| Amount due to a related party-non-current | — | 386,042 | ||||||
| Derivative liabilities | 6,986,124 | 5,399,140 | ||||||
| Redeemable preference shares | 18,356,511 | 16,663,052 | ||||||
| Deferred tax liabilities | 68,298 | — | ||||||
| Operating lease liabilities, non-current | 4,129,338 | 4,702,317 | ||||||
| Total non-current liabilities | 29,563,638 | 27,187,813 | ||||||
| Total Liabilities | 48,537,198 | 40,244,560 | ||||||
| EQUITY | ||||||||
| Share capital | 3,000 | 3,000 | ||||||
| Additional paid-in capital | 29,164,781 | 29,164,781 | ||||||
| Retained earnings | 16,793,800 | 13,094,403 | ||||||
| Accumulated other comprehensive loss | (131,874 | ) | (53,596 | ) | ||||
| Total Equity | 45,829,707 | 42,208,588 | ||||||
| Total Liabilities and Equity | $ | 94,366,905 | $ | 82,453,148 | ||||
5
GOWELL TECHNOLOGY LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
(Amounts in U.S. Dollars, except for number of shares)
| For
the six months ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| Unaudited | Unaudited | |||||||
| Revenues – third parties | $ | 33,476,516 | $ | 22,017,408 | ||||
| Revenues – related parties | 284,216 | 1,545,067 | ||||||
| Total revenues | 33,760,732 | 23,562,475 | ||||||
| Cost of revenues | (13,980,807 | ) | (9,715,975 | ) | ||||
| Gross profit | 19,779,925 | 13,846,500 | ||||||
| OPERATING EXPENSES: | ||||||||
| Selling and marketing expenses | (3,271,668 | ) | (3,273,788 | ) | ||||
| General and administrative expenses | (6,750,787 | ) | (4,660,492 | ) | ||||
| Research and development expenses | (623,322 | ) | (2,021,828 | ) | ||||
| Total operating expenses | (10,645,777 | ) | (9,956,108 | ) | ||||
| Operating profit | 9,134,148 | 3,890,392 | ||||||
| OTHER EXPENSES: | ||||||||
| Finance income | 9,570 | 119,845 | ||||||
| Finance cost | (4,343,318 | ) | (154,367 | ) | ||||
| Other income, net | 10,646 | (81,370 | ) | |||||
| Total other expenses | (4,323,102 | ) | (115,892 | ) | ||||
| Profit before income tax expense | 4,811,046 | 3,774,500 | ||||||
| Income tax expense | (1,111,649 | ) | (1,094,281 | ) | ||||
| Net profit | 3,699,397 | 2,680,219 | ||||||
| OTHER COMPREHENSIVE INCOME | ||||||||
| Foreign currency translation adjustments | (78,278 | ) | 101,374 | |||||
| Total comprehensive income | $ | 3,621,119 | $ | 2,781,593 | ||||
| Net profit per ordinary share | ||||||||
| Basic and Diluted | 0.12 | 0.09 | ||||||
| Weighted average number of ordinary shares outstanding | ||||||||
| Basic and Diluted | 30,000,000 | 30,000,000 | ||||||
6
Exhibit 99.2
GOWELL TECHNOLOGY LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Amounts in U.S. Dollars, except for number of shares)
| As of June 30, 2026 | As of December 31, 2025 | |||||||
| Unaudited | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 2,910,012 | $ | 6,751,021 | ||||
| Restricted cash | 201,596 | 10,000 | ||||||
| Trade receivables, net | 25,737,317 | 18,008,048 | ||||||
| Inventories, net | 17,197,546 | 15,569,533 | ||||||
| Amounts due from related parties | 49,941 | 44,405 | ||||||
| Long-term receivables, current | 511,884 | 551,302 | ||||||
| Deferred offering costs | 2,937,959 | 2,614,409 | ||||||
| Prepaid expenses and other current assets | 3,422,311 | 1,915,525 | ||||||
| Total current assets | 52,968,566 | 45,464,243 | ||||||
| Non-current assets | ||||||||
| Rental equipment, net | 22,987,058 | 22,761,997 | ||||||
| Property and equipment, net | 3,955,436 | 1,984,734 | ||||||
| Intangible assets, net | 5,087,694 | 2,792,272 | ||||||
| Right-of-use assets, net | 5,145,360 | 5,614,107 | ||||||
| Long-term receivables, net | — | 28,489 | ||||||
| Deferred tax asset, net | 3,666,142 | 3,318,591 | ||||||
| Other non-current assets | 556,649 | 488,715 | ||||||
| Total non-current assets | 41,398,339 | 36,988,905 | ||||||
| Total Assets | $ | 94,366,905 | $ | 82,453,148 | ||||
| LIABILITIES AND EQUITY | ||||||||
| LIABILITIES | ||||||||
| Current liabilities | ||||||||
| Trade payables | $ | 4,009,799 | $ | 789,134 | ||||
| Trade payables – related parties | 5,118,377 | 4,104,133 | ||||||
| Accruals and other payables | 6,129,848 | 4,860,484 | ||||||
| Loans payable, current | 24,877 | 25,149 | ||||||
| Amounts due to related parties, current | 83,179 | 80,231 | ||||||
| Income tax payable | 1,875,857 | 1,513,137 | ||||||
| Operating lease liabilities, current | 1,731,623 | 1,684,479 | ||||||
| Total current liabilities | 18,973,560 | 13,056,747 | ||||||
| Non-current liabilities | ||||||||
| Loans payable, non-current | 23,367 | 37,262 | ||||||
| Amount due to a related party-non-current | — | 386,042 | ||||||
| Derivative liabilities | 6,986,124 | 5,399,140 | ||||||
| Redeemable preference shares | 18,356,511 | 16,663,052 | ||||||
| Deferred tax liabilities | 68,298 | — | ||||||
| Operating lease liabilities, non-current | 4,129,338 | 4,702,317 | ||||||
| Total non-current liabilities | 29,563,638 | 27,187,813 | ||||||
| Total Liabilities | 48,537,198 | 40,244,560 | ||||||
| EQUITY | ||||||||
| Share capital | 3,000 | 3,000 | ||||||
| Additional paid-in capital | 29,164,781 | 29,164,781 | ||||||
| Retained earnings | 16,793,800 | 13,094,403 | ||||||
| Accumulated other comprehensive loss | (131,874) | (53,596) | ||||||
| Total Equity | 45,829,707 | 42,208,588 | ||||||
| Total Liabilities and Equity | $ | 94,366,905 | $ | 82,453,148 | ||||
GOWELL TECHNOLOGY LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
(Amounts in U.S. Dollars, except for number of shares)
| For the six months ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| Unaudited | Unaudited | |||||||
| Revenues – third parties | $ | 33,476,516 | $ | 22,017,408 | ||||
| Revenues – related parties | 284,216 | 1,545,067 | ||||||
| Total revenues | 33,760,732 | 23,562,475 | ||||||
| Cost of revenues | (13,980,807 | ) | (9,715,975 | ) | ||||
| Gross profit | 19,779,925 | 13,846,500 | ||||||
| OPERATING EXPENSES: | ||||||||
| Selling and marketing expenses | (3,271,668 | ) | (3,273,788 | ) | ||||
| General and administrative expenses | (6,750,787 | ) | (4,660,492 | ) | ||||
| Research and development expenses | (623,322 | ) | (2,021,828 | ) | ||||
| Total operating expenses | (10,645,777 | ) | (9,956,108 | ) | ||||
| Operating profit | 9,134,148 | 3,890,392 | ||||||
| OTHER EXPENSES: | ||||||||
| Finance income | 9,570 | 119,845 | ||||||
| Finance cost | (4,343,318 | ) | (154,367 | ) | ||||
| Other income, net | 10,646 | (81,370 | ) | |||||
| Total other expenses | (4,323,102 | ) | (115,892 | ) | ||||
| Profit before income tax expense | 4,811,046 | 3,774,500 | ||||||
| Income tax expense | (1,111,649 | ) | (1,094,281 | ) | ||||
| Net profit | 3,699,397 | 2,680,219 | ||||||
| OTHER COMPREHENSIVE INCOME | ||||||||
| Foreign currency translation adjustments | (78,278 | ) | 101,374 | |||||
| Total comprehensive income | $ | 3,621,119 | $ | 2,781,593 | ||||
| Net profit per ordinary share | ||||||||
| Basic and Diluted | 0.12 | 0.09 | ||||||
| Weighted average number of ordinary shares outstanding | ||||||||
| Basic and Diluted | 30,000,000 | 30,000,000 | ||||||
Exhibit 99.3
GOWELL ENERGY TECHNOLOGY
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Amounts in U.S. Dollars, except for number of shares)
| As of June 30, 2026 | As of December 31, 2025 | |||||||
| Unaudited | ||||||||
| Assets | ||||||||
| Current assets | ||||||||
| Receivable from shareholder | $ | — | $ | — | ||||
| Total current assets | — | — | ||||||
| LIABILITIES AND SHAREHOLDERS’ DEFICIT | ||||||||
| LIABILITIES | ||||||||
| Current liabilities | ||||||||
| Accruals and other payables | $ | 123,343 | $ | 87,009 | ||||
| Amounts due to a related party | 30,900 | 30,900 | ||||||
| Total liabilities | 154,243 | 117,909 | ||||||
| Shareholders’ deficit | ||||||||
| Share capital (par value of US$0.0001 per share; 500,000,000 shares authorized; 1 share issued and outstanding as of June 30, 2026 and December 31, 2025, respectively) | — | — | ||||||
| Accumulated deficit | (154,243) | (117,909) | ||||||
| Total Shareholders’ deficit | (154,243) | (117,909) | ||||||
| Total Liabilities and Shareholders’ deficit | $ | — | $ | — | ||||
GOWELL ENERGY TECHNOLOGY
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
(Amounts in U.S. Dollars, except for number of shares)
| For the six months ended June 30, 2026 | ||||
| Unaudited | ||||
| OPERATING EXPENSES: | ||||
| General and administrative expenses | (36,334 | ) | ||
| Total operating expenses | (36,334 | ) | ||
| Loss from operations | (36,334 | ) | ||
| Income tax expense | — | |||
| Net loss | (36,334 | ) | ||
| Weighted average number of shares outstanding, basic and diluted | 1 | |||
| Basic and diluted net loss per share | (36,334 | ) | ||
Exhibit 99.4
October 2026 1 gowell.energy
Disclaimer 2 October 2026 Important Notice and Disclaimer This presentation (together with oral statements made in connection herewith, this “ Presentation ”) has been prepared by GOWell Energy Technology (the " Company “ or “ GOWell ” ) solely for information purposes in connection with the First Half 2026 Financial Results & Corporate Update Webinar . By attending the meeting at which this Presentation is made, or by accessing or reading this Presentation, you agree to be bound by the following limitations and conditions . No Offer or Sale This Presentation shall not constitute an offer to sell, or the solicitation of an offer to buy, or a recommendation to purchase, any securities of the Company, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful . No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933 , as amended, or an exemption therefrom . Neither the U . S . Securities and Exchange Commission (the " SEC ") nor any securities commission of any other U . S . or non - U . S . jurisdiction has approved or disapproved of the securities of the Company or determined that this Presentation is truthful or complete . Any representation to the contrary is a criminal offense . No Representation or Warranty No representations or warranties, express or implied, are given in, or in respect of, this Presentation or with respect to th e a ccuracy, completeness or reliability of the information contained in this Presentation. Any information on past performance c ont ained in this Presentation is not an indication as to future performance. To the fullest extent permitted by law, in no circumstances will the Company or any of its subsidiaries, security holders, affiliates, representatives, partners, directors, officers, employees, ad visers, or agents be responsible or liable for any direct, indirect, or consequential loss or loss of profit arising from the use of this Presenta tio n, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation ther eto or otherwise arising in connection therewith. In addition, this Presentation does not purport to be all - inclusive or to contain all of the information t hat may be required to make a full analysis of the Company. Recipients of this Presentation should each make their own evaluation of the Company and of the relevance and adequacy of the in formation and should make such other investigations as they deem necessary. Nothing herein should be construed as legal, financial, tax or other advice. You should consult your own advisers concerning any legal, financial, tax or other considerations concerning the Company and its securities. The general explanations included in t his Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs . N othing contained herein shall be deemed a recommendation to any party to enter into any transaction or take any course of act ion . Forward Looking Statements This Presentation contains forward - looking statements that relate to GOWell's current expectations and views of future events. Forward - looking statements generally are accompanied by words such as anticipa te," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "potential," "project," "seek," "should," "will," "would," and other similar expressions, or the ne gat ive of these terms or other comparable terminology, that predict or indicate future events or trends or that are not statemen ts of historical matters. These forward - looking statements include, but are not limited to, statements regarding estimates and forecasts of finan cial and performance metrics, including GOWell’s full - year guidance; the size and growth potential of the markets for GOWell's technology; statements about GOWell's business strategy; statements about the development of GOWell's technology. These forward - looking statements are subject to a number of risks and uncertainties, including but not limited to: changes in do mestic and foreign business, market, financial, political, and legal conditions; risks relating to the uncertainty of the pro jec ted financial information with respect to GOWell, including GOWell's ability to meet its financial guidance; risks related to potential fluctuations in the oil and gas industries; the impact of co mpetitive technologies; ability to obtain sufficient supply of materials; ability to negotiate and enter into definitive agreements with customers and/or suppliers on favorable terms, if at all; ability to attract and retain qu alified personnel; GOWell's ability to execute its growth strategy and manage growth profitably; GOWell's ability to maintain the listing of its securities on Nasdaq; the liquidity and volatility of the market for GOWell's securities; GOWell’s ability to obtain additional financing as and when needed, on terms satisfactory to GOWell or at all; global economic and pol it ical conditions; legal and regulatory changes; the outcome of any legal proceedings that may be instituted against the Company; intellectual property - related claims; and those fac tors discussed in documents the Company has filed or will file with the SEC. If any of these risks materialize or GOWell's assumptions prove incorrect, actual results could differ materially from the results implied by these forward - looking statement s. There may be additional risks that GOWell does not presently know or that GOWell currently believes are immaterial that could also cause actual results to differ from those contained in the forward - looking statements. I n addition, forward - looking statements reflect GOWell's expectations, plans, or forecasts of future events and views as of the date of this Presentation and are qualified in their entirety by reference to the cautionary statements herein. GOWell anticipates that fu tur e events and developments will cause GOWell's assessments to change. These forward - looking statements should not be relied upon as representing GOWell's assessments as of any date subsequent to the date of this Presentation. Accordingly, undue reliance should not be placed upon t he forward - looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond GOWell’s control and which could materially affect results. Neither GOWell nor any of its affiliates undertakes any obligation to upda te these forward - looking statements, except as required by law.
Disclaimer (Cont'd) 3 Financial Information ; Non - IFRS Measures Unless otherwise indicated, the financial information in this Presentation is presented in accordance with International Fina nci al Reporting Standards as issued by the International Accounting Standards Board (" IFRS "). The financial information for the six months ended June 30, 2026 and 2025 of GOWell Technology Limited ("GTL"), a wholly owned subsidiary of GOWell , has been derived from GTL's unaudited financial statements. All financial information and data in this Presentation is prelim inary and unaudited, and has not been audited, reviewed or compiled by GOWell's independent registered public accounting firm; accordingly, no such firm provides any assurance with respect to it. Such infor mation and data may not be included in, may be adjusted in, or may be presented differently in, any registration statement, prospectus or other report or document to be filed or furnished by the Company with the SEC. This Presentation includes certain financial measures of GOWell not presented in accordance with International Financial Reporting Standards (" IFRS "), including, but not limited to, EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin. EBITDA is defined as net profit excluding results from non - operating sources including interest and other (income) expenses, depreciation, and amortization expe nses. Adjusted EBITDA is defined as EBITDA excluding non - recurring or unusual charges that are not expected to occur in the norm al course of future operations, as determined by management. Adjusted EBITDA was included in the GOWell projections to show the effect of these items on operating performance. The most directly comparable IFRS financial measure i s net profit. Non - recurring and unusual charges included in Adjusted EBITDA calculation are or will include the following: Non - IFRS financial measures are not measures of financial performance in accordance with IFRS and may exclude items that are sig nificant in understanding and assessing GOWell's financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under IFRS . Y ou should be aware that GOWell's presentation of these measures may not be comparable to similarly titled measures used by other companies. GOWell believes these non - IFRS measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to GOWell's financial condition and results of operations. GOWell believes that the use of these non - IFRS financial measures provides an additional tool for investors to use in evaluating ongoing operating result s and trends and in comparing GOWell's financial measures with other similar companies, many of which present similar non - IFRS financial measures to investors. These non - IFRS financial measures are subject to inherent limitations as they reflect the exercise of jud gments by management about which expense and income are excluded or included in determining these non - IFRS financial measures. P lease refer to footnotes where presented on each page of this Presentation or to the appendix found at the end of this Presentation fo r a reconciliation of these measures to what GOWell believes are the most directly comparable measure evaluated in accordance with IFRS, if applicable. Certain information in this Presentation constitutes preliminary, unaudited data for GTL for the periods ended June 30, 2026 and 2025. This data is subject to change as GOWell completes its financial closing and review processes, has been prepared by, and is the responsibility of, management, and should not be viewed as a substitute for full audited financial statements. GOWell's independent registered public accounting firm has not audited, reviewed, compiled, or performed any procedures with respect t o this preliminary financial information and does not express an opinion or any other form of assurance with respect thereto. 1 . Professional fees for audit, consulting, valuation, legal, consulting and tax advisory, financial advisory services related to the de - SPAC process and make - ready to be public . These professional fees will include the services to restructure the operating companies under the Singapore Headquarters and Cayman holding company, and to restructure the China legal entities and the global manufacturing supply chain . 2 . New manufacturing location start - up and transition costs, including implementation of a new manufacturing ERP system, to diversify the supply chain and manufacturing from our related party in China to GOWell entities . 3 . Income or expense relating to the changes in fair value of assets and liabilities remeasured to fair value on a recurring basis, expense related to costs associated with mergers, acquisitions, divestitures and capital raising activities, legal, tax and regulatory reserves or settlements . Significant non - ordinary course asset impairment charges and, to the extent applicable, any impact of discontinued operations, restructuring charges, and other gains and losses on operating assets, as well as stock - based compensation costs . 4 . Significant non - cash expenses such as insurance run - off period/tail coverage policy or amortized insurance costs . 5 . Going public and de - SPAC costs, including legal, tax, financial advisory fees, and the other de - SPAC costs incurred by both the SPAC and GOWell . October 2026
Disclaimer (Cont'd) 4 Use of Projections The financial and operating forecasts and projections of GOWell contained in this Presentation represent certain estimates of GO Well as of the date thereof. GOWell's independent registered public accounting firm has not examined, reviewed or compiled the forecasts or projections and, accordingly, do not express an opinion or other form of assurance with respect thereto. These projections sh ould not be relied upon as being indicative of future results. Furthermore, none of GOWell or its management team can give an y a ssurance that the forecasts or projections contained herein accurately represent GOWell's future operations or financial condition. The assumptions and estimates underlying such financial forecast information are in he rently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ mater ial ly from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective re sults are indicative of the future performance of GOWell or that actual results will not differ materially from those presented in thes e m aterials. Some of the assumptions upon which the projections are based inevitably will not materialize and unanticipated even ts may occur that could affect results. Therefore, actual results achieved during the periods covered by the projections may vary and may vary mat erially from the projected results. Inclusion of the prospective financial information in this Presentation should not be reg ard ed as a representation by any person that the results contained in the prospective financial information are indicative of future res ult s or will be achieved. The full year 2026 guidance contained in the Presentation was prepared based on numerous variables and assumptions which are inh erently uncertain and may be beyond the control of GOWell. For more information regarding this guidance, its underlying assumpt ions and the reconciliation of non - IFRS financial measures, please see the section entitled "The Business Combination – Certain Proje cted Financial Information" in the Company's Proxy Statements/Registration Statement on Form F - 4 filed in connection with the bu siness combination involving GOWell, GTL and Inflection Point Acquisition Corp. V. Trademarks This Presentation contains trademarks, service marks, trade names, and copyrights of GOWell and other companies, which are th e p roperty of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products i n t his Presentation is not intended to, and does not imply, a relationship with GOWell, or an endorsement or sponsorship by or of GO Wel l. Solely for convenience, the trademarks, service marks and trade names referred to in this Presentation may appear with the TM or SM symbols, but such references are not intended to indicate, in any way, that GOWell will not assert, to the fullest extent per mit ted under applicable law, its rights or the right of the applicable licensor to these trademarks, service marks and trade nam es. Industry and Market Data This Presentation has been prepared by GOWell and includes market data and other statistical information from third - party industry publications and sources as well as from research reports prepared for other purposes . Although GOWell believes these third - party sources are reliable as of their respective dates, none of GOWell or any of its affiliates has independently verified the accuracy or completeness of this information and cannot assure you of (and makes no representation or warranty, express or implied, with respect to) the accuracy or completeness of such data or statistical information . Some data are also based on GOWell's good faith estimates, which are derived from both internal sources and the third - party sources described herein . None of GOWell, its affiliates, or their respective directors, officers, employees, members, partners, shareholders or agents make any representation or warranty with respect to the accuracy of such information . October 2026
GOWell Presenters 5 Guillaume Borrel Chief Executive Officer David MacNeill President of Corporate Development Mike Reed Chief Financial Officer • Engineering graduate of NSCC • Distinguished Oil and Gas career spanning over three decades • Started as an engineer at SLB before moving to NOV as VP of operations Eastern Hemisphere • CEO of publicly listed Logan International Inc. • Founder and CEO of Wellbore Integrity Solutions and is currently a board advisor to several oilfield technology ventures • Has over 25 years of industry experience • Began career as a Wireline Field Engineer with SLB and went on to hold international roles across operations, sales, manufacturing, and technology development • Has served in senior leadership positions including VP of Marketing & Technology and VP of Production Services • Graduate of École Polytechnique (Paris) • Seasoned financial leader with over 30 years of Oil and Gas experience • Rice University graduate and CPA • Began his career as a PWC auditor, before moving into the energy industry with leading roles in NOV, Wood Group, ASRC and HDI • Experience in roles as CEO and CFO includes capital raises, Investor Relations and M&A, together with serving on the boards of private and public ventures October 2026
Adj. EBITDA grew 79% to $14.1M over the same period, to 41.7% of revenue H1 2026 at a Glance* 6 Plug & Abandonment Financial Commercial Technology 43% YoY Revenue Growth (1H '25 to '26) Large capital sales deliveries, mainly to the Caspian region in H1 2026 Completed the integration of the Well Innovation acquisition and the GOTrac conveyance platform Capital sales new awards in H1 2026 secured our order backlog into 2027 Through Tubing Cement Evaluation technology successfully field tested in key markets (North Sea, Middle East & US Offshore) ME headwinds largely offset by strong performance in North Africa and Latin America in H1 Multi String Corrosion Imaging technology began formal field trials in Europe and North America We reaffirm our guidance for FY 2026 Revenue: $60 – $68M Adj. EBITDA: $25 – $29M Robust financial performance underpinned by strong commercial pacing and technology pipeline *The historical financial results for the six months ended June 30, 2026 and 2025 presented in this Presentation are those of GOWell Technology Limited, a Cayman Islands exempted company and a wholly - owned subsidiary of GOWell . GOWell Technology Limited was the target operating company in that certain business combination involving GOWell , GTL and Inflection Point Acquisition Corp. V, which closed on September 25, 2026. October 2026
Financials | Revenue (unaudited) 7 $33.8 Million Revenue in 1H 2026 43% Increase vs. $23.6 Million in 1H 2025 $23.6M $33.8M 1H 2025 1H 2026 Revenue Total revenue in the first half of 2026 increased 43% to $33.8 million versus $23.6 million in the first half of 2025 . Revenue growth was primarily driven by an increase of $9.0 million in revenues from equipment sales and $1.2 million from service revenue. October 2026
Financials | Operating Profit & Adjusted EBITDA 1 R&D of $2.4 million was capitalized for H1 2026 versus $0 prior to 2026 as the criteria for capitalization had not been met p rev iously. 2 Adjusted EBITDA is a non - IFRS financial measure. For a reconciliation of Adjusted EBITDA to its most comparable IFRS financial measure see Appendix I to this Presentation. 8 $9.1 Million Operating Profit 1 in 1H 2026 $14.1 Million Adjusted EBITDA 2 in 1H 2026 $3.9M $9.1M $7.9M $14.1M 1H 2025 1H 2026 Operating Profit & Adjusted EBITDA Operating Profit Adjusted EBITDA Operating Profit was $9.1 million in the first half of 2026, a 135% increase compared to the same period of 2025 . Adjusted EBITDA increased 79 % to $14.1 million, as compared to $7.9 million in the first half of 2025, supported by revenue growth and operating leverage . Net profit increased 38% to $3.7 million in the first half of 2026 from $2.7 million in the same period of 2025, as higher operating profit was partly offset by $ 4.3 million in finance costs, primarily related to redeemable preferred shares, and a $1.6 million fair value loss on derivatives . October 2026
Financials | Full Fiscal 2026 Outlook *Adjusted EBITDA is a non - IFRS financial measure. For a reconciliation of Adjusted EBITDA to its most comparable IFRS financial measure see Appendix I to this Presentation. 9 $60M – $68M FY2026 Revenue Guidance $25M – $29M FY2026 Adjusted EBITDA* Guidance $47.2M $60.0M $68.0M FY2025 FY2026 Low FY2026 High Revenue $17.8M $25.0M $29.0M FY2025 FY2026 Low FY2026 High Adjusted EBITDA* Reiterates total revenue guidance for the full fiscal year 2026 in the range of $60 million to $68 million, an increase of approximately 27% to 44% as compared to $47.2 million reported for fiscal year 2025 . Reiterates Adjusted EBITDA guidance for the full fiscal year 2026 in the range of $25 million to $29 million, an increase of approximately 40% to 63% as compared to $17.8 million reported for fiscal year 2025 . Completed business combination with Inflection Point Acquisition Corp. V on September 25, 2026 and began trading on the Nasdaq on September 28, 2026 under the ticker symbol “GOW ”. October 2026
Key Technology Updates GOTrac next generation wellbore conveyance • Fully integrated during H1 2026 • First assets manufacturing ongoing • Operations beginning early 2027 Through Tubing Cement Evaluation • Major decommissioning cost reduction enabler • GOWell technology undergoing rigorous validation globally • Unique, innovative and patented approach Multi - String Corrosion Imaging • Global challenge with aging wells and tightening regulations • GOWell unique technical solution in field test 10 October 2026
Key Regional Updates 11 October 2026 North America • Dominated by independent OFS companies, relying on third party technology partners Latin America • Forecasted to be the largest non - OPEC production growth area • Growing mature field and decommissioning focus • Venezuela operators starting to ramp up interventions 2027 outlook positive with a number of underlying themes Middle East • Impact of Iran war on GOWell relatively muted through H1 • North Africa performance mitigating war effect in Gulf countries • Uncertainties remain for the end of 2026 and into 2027 Caspian • Strong regional growth driven by large capital sales projects • Vertically integrated operators are technology buyers • When Middle East rebounds, initial focus will be on production recovery before adding new capacity • Energy security is becoming a primary concern globally, driving asset rejuvenation and existing wells reactivation or optimiz at ion • In parallel, the trend of increasing regulations around asset integrity and decommissioning continues
Appendix I – Full Reconciliations 12 October 2026 Full Reconciliation of GTL's historical non - IFRS financial measure
Appendix I – Full Reconciliations (Cont'd) 13 October 2026 Full Reconciliation of GTL's non - IFRS financial measures as projected
Filing Exhibits & Attachments
4 documentsPress Releases
- EX-99.1 GOWELL ENERGY TECHNOLOGY PRESS RELEASE, DATED OCTOBER 21, 2026 166.1 KB
- EX-99.2 UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS OF GOWELL TECHNOLO 48.7 KB
- EX-99.3 UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS OF GOWELL ENERGY T 18.0 KB
- EX-99.4 INVESTOR PRESENTATION OF THE COMPANY 32.5 KB