Martello Technologies Group Inc.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|---|
| Total Revenue | 3.0M | 3.0M | 3.1M | 3.4M | 3.7M | 3.6M | -- |
| Operating Revenue | 3.0M | 3.0M | 3.1M | 3.4M | 3.7M | 3.6M | -- |
| Cost Of Revenue | 480,437 | 466,249 | 460,810 | 467,655 | 527,067 | 509,076 | -- |
| Gross Profit | 2.5M | 2.5M | 2.6M | 2.9M | 3.2M | 3.1M | -- |
| Selling General And Administration | 2.9M | 1.9M | 2.5M | 2.5M | 2.3M | 2.3M | -- |
| General And Administrative Expense | 975,584 | 717,614 | 1.2M | 988,116 | 975,317 | 944,141 | -- |
| Research And Development | 2.4M | 1.4M | 1.5M | 1.3M | 1.4M | 1.4M | -- |
| Depreciation And Amortization In Income Statement | 22,706 | 459,560 | 488,450 | 469,256 | 472,675 | 485,951 | -- |
| Operating Expense | 5.4M | 3.7M | 4.5M | 4.2M | 4.2M | 4.2M | -- |
| Operating Income | -2.9M | -1.2M | -1.9M | -1.3M | -984,649 | -1.1M | -- |
| EBIT | -3.1M | -7.0M | -1.6M | -1.2M | -1.2M | -806,608 | -- |
| Interest Expense | 428,291 | 476,832 | 489,100 | 496,918 | 467,028 | 457,999 | -- |
| Interest Expense Non Operating | 428,291 | 476,832 | 489,100 | 496,918 | 467,028 | 457,999 | -- |
| Interest Income | 502.00 | 687.00 | 742.00 | 779.00 | 884.00 | 2,556 | -- |
| Interest Income Non Operating | 502.00 | 687.00 | 742.00 | 779.00 | 884.00 | 2,556 | -- |
| Net Interest Income | -427,789 | -476,145 | -488,358 | -498,299 | -466,144 | -455,443 | -- |
| Other Income Expense | -270,627 | -5.8M | 258,642 | 137,397 | -253,450 | 257,537 | -- |
| Other Non Operating Income Expenses | 14,844 | 7,250 | -428.00 | 41,246 | -13,147 | 27,482 | -- |
| Special Income Charges | -184,546 | -5.9M | -- | 0.00 | 0.00 | 103,573 | -- |
| Gain On Sale Of Security | -100,925 | 94,539 | 259,070 | 96,151 | -240,303 | 126,482 | -- |
| Pretax Income | -3.6M | -7.5M | -2.1M | -1.7M | -1.7M | -1.3M | -- |
| Tax Provision | 1,164 | 2,292 | 0.00 | -94,421 | 94,946 | -12,918 | -- |
| Tax Effect Of Unusual Items | -42,821 | -871,875 | 0.00 | 5,336 | -36,045 | 2,350 | -- |
| Net Income From Continuing And Discontinued Operation | -3.6M | -7.5M | -2.1M | -1.6M | -1.8M | -1.3M | -- |
| Net Income From Continuing Operation Net Minority Interest | -3.6M | -7.5M | -2.1M | -1.6M | -1.8M | -1.3M | -- |
| Net Income Including Noncontrolling Interests | -3.6M | -7.5M | -2.1M | -1.6M | -1.8M | -1.3M | -- |
| Net Income Common Stockholders | -3.6M | -7.5M | -2.1M | -1.6M | -1.8M | -1.3M | -- |
| Net Income | -3.6M | -7.5M | -2.1M | -1.6M | -1.8M | -1.3M | -- |
| EBITDA | -3.1M | -6.5M | -1.2M | -735,248 | -764,540 | -320,657 | -- |
| Normalized EBITDA | -2.8M | -703,599 | -1.4M | -831,399 | -524,237 | -550,712 | -- |
| Reconciled Depreciation | 27,234 | 459,560 | 488,450 | 469,256 | 472,675 | 485,951 | -- |
| Basic EPS | -0.01 | -0.01 | 0.00 | -- | 0.00 | 0.00 | 0.00 |
| Diluted EPS | -0.01 | -0.01 | 0.00 | -- | 0.00 | 0.00 | 0.00 |
| Basic Average Shares | 583.7M | 583.7M | 583.7M | -- | 543.7M | 543.7M | 543.7M |
| Diluted Average Shares | 583.7M | 583.7M | 583.7M | -- | 543.7M | 543.7M | 543.7M |
| Total Unusual Items | -285,471 | -5.8M | 259,070 | 96,151 | -240,303 | 230,055 | -- |
| Total Unusual Items Excluding Goodwill | -285,471 | -5.8M | 259,070 | 96,151 | -240,303 | 230,055 | -- |
| Tax Rate For Calcs | 0.15 | 0.15 | 0.00 | 0.06 | 0.15 | 0.01 | -- |
| Normalized Income | -3.3M | -2.5M | -2.4M | -1.7M | -1.6M | -1.5M | -- |
| Amortization | 0.00 | 447,127 | 443,745 | 430,527 | 425,401 | 427,438 | -- |
| Amortization Of Intangibles Income Statement | 0.00 | 447,127 | 443,745 | 430,527 | 425,401 | 427,438 | -- |
| Depreciation Amortization Depletion Income Statement | 22,706 | 459,560 | 488,450 | 469,256 | 472,675 | 485,951 | -- |
| Depreciation Income Statement | 22,706 | 12,433 | 44,705 | 38,729 | 47,274 | 58,513 | -- |
| Diluted NI Availto Com Stockholders | -3.6M | -7.5M | -2.1M | -1.6M | -1.8M | -1.3M | -- |
| Impairment Of Capital Assets | 184,546 | 5.9M | -- | -- | 0.00 | 0.00 | -- |
| Net Income Continuous Operations | -3.6M | -7.5M | -2.1M | -1.6M | -1.8M | -1.3M | -- |
| Net Non Operating Interest Income Expense | -427,789 | -476,145 | -488,358 | -498,299 | -466,144 | -455,443 | -- |
| Other Gand A | 975,584 | 717,614 | 1.2M | 988,116 | 975,317 | 944,141 | -- |
| Other Special Charges | -- | -- | -- | 0.00 | -- | -103,573 | -- |
| Reconciled Cost Of Revenue | 475,909 | 466,249 | 460,810 | 467,655 | 527,067 | 509,076 | -- |
| Selling And Marketing Expense | 1.9M | 1.2M | 1.4M | 1.5M | 1.3M | 1.4M | -- |
| Total Expenses | 5.9M | 4.2M | 5.0M | 4.7M | 4.7M | 4.7M | -- |
| Total Operating Income As Reported | -3.0M | -7.1M | -1.9M | -1.3M | -984,649 | -1.1M | -- |
| Total Other Finance Cost | -- | -- | -- | 2,160 | -- | 1,000 | -- |
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|---|
| Cash And Cash Equivalents | 3.4M | 2.0M | 4.4M | 6.6M | 5.0M | 4.5M | -- |
| Cash Cash Equivalents And Short Term Investments | 3.5M | 2.1M | 4.5M | 6.7M | 5.1M | 4.6M | -- |
| Cash Financial | 3.4M | 2.0M | 4.4M | 6.6M | 5.0M | 4.5M | -- |
| Other Short Term Investments | 110,027 | 109,607 | 108,993 | 108,391 | 107,796 | 107,145 | -- |
| Accounts Receivable | 2.7M | 4.2M | 2.4M | 4.8M | 4.5M | 4.1M | -- |
| Receivables | 3.0M | 4.5M | 2.9M | 5.1M | 4.6M | 4.4M | -- |
| Inventory | 38,061 | 38,200 | 38,200 | 38,200 | 37,620 | 38,375 | -- |
| Prepaid Assets | 1.4M | 1.7M | 1.7M | 542,247 | 570,810 | 715,064 | -- |
| Current Assets | 7.9M | 8.3M | 9.1M | 12.4M | 10.3M | 9.7M | -- |
| Gross PPE | 190,880 | 346,786 | 261,400 | 454,747 | 306,496 | 354,326 | -- |
| Accumulated Depreciation | -- | -- | -- | -149,723 | -- | -- | -- |
| Net PPE | 190,880 | 346,786 | 261,400 | 305,024 | 306,496 | 354,326 | -- |
| Goodwill And Other Intangible Assets | 0.00 | 0.00 | 6.3M | 6.5M | 6.7M | 7.2M | -- |
| Other Intangible Assets | -- | -- | 6.3M | 6.5M | 6.7M | 7.2M | 7.4M |
| Total Non Current Assets | 190,880 | 346,786 | 6.5M | 6.8M | 7.0M | 7.6M | -- |
| Total Assets | 8.1M | 8.6M | 15.6M | 19.2M | 17.3M | 17.3M | -- |
| Current Debt | 270,000 | 240,000 | 210,000 | 180,000 | 135,000 | 90,000 | -- |
| Current Debt And Capital Lease Obligation | 369,015 | 295,311 | 309,687 | 300,129 | 226,997 | 202,044 | -- |
| Accounts Payable | 47,755 | 286,106 | 321,606 | 227,962 | 125,299 | 253,254 | -- |
| Payables | 353,176 | 1.2M | 1.4M | 1.5M | 1.3M | 1.3M | -- |
| Payables And Accrued Expenses | 1.8M | 2.0M | 2.3M | 2.7M | 2.1M | 1.9M | -- |
| Current Accrued Expenses | 1.5M | 816,137 | 855,114 | 1.3M | 890,322 | 669,133 | -- |
| Current Deferred Revenue | 3.7M | 4.1M | 3.9M | 4.6M | 4.8M | 4.4M | -- |
| Other Current Liabilities | -- | -1.00 | -- | 54,837 | 91,028 | -- | 9,559 |
| Current Liabilities | 7.3M | 6.4M | 6.5M | 7.7M | 7.3M | 6.5M | -- |
| Long Term Debt | 14.5M | 12.3M | 11.8M | 11.9M | 11.5M | 10.5M | -- |
| Long Term Debt And Capital Lease Obligation | 14.8M | 12.6M | 12.0M | 12.1M | 11.7M | 10.7M | -- |
| Long Term Capital Lease Obligation | 295,512 | 310,593 | 160,566 | 180,287 | 199,330 | 217,718 | -- |
| Total Non Current Liabilities Net Minority Interest | 16.7M | 14.9M | 14.2M | 14.6M | 13.6M | 12.1M | -- |
| Total Liabilities Net Minority Interest | 24.1M | 21.3M | 20.6M | 22.3M | 20.8M | 18.7M | -- |
| Common Stock | 61.6M | 61.6M | 61.6M | 61.6M | 59.6M | 59.6M | -- |
| Capital Stock | 61.6M | 61.6M | 61.6M | 61.6M | 59.6M | 59.6M | -- |
| Additional Paid In Capital | 4.1M | 4.1M | 4.1M | 4.0M | 4.1M | 4.0M | -- |
| Retained Earnings | -83.5M | -80.0M | -72.5M | -70.4M | -68.8M | -67.0M | -- |
| Gains Losses Not Affecting Retained Earnings | -422,065 | -701,468 | -468,166 | -667,357 | -694,719 | -394,431 | -- |
| Other Equity Adjustments | -422,065 | -701,468 | -468,166 | -667,357 | -694,719 | -394,431 | -- |
| Common Stock Equity | -15.9M | -12.7M | -5.0M | -3.1M | -3.5M | -1.4M | -- |
| Stockholders Equity | -15.9M | -12.7M | -5.0M | -3.1M | -3.5M | -1.4M | -- |
| Total Equity Gross Minority Interest | -15.9M | -12.7M | -5.0M | -3.1M | -3.5M | -1.4M | -- |
| Total Capitalization | -1.4M | -334,691 | 6.8M | 8.8M | 8.0M | 9.1M | -- |
| Net Tangible Assets | -15.9M | -12.7M | -11.3M | -9.6M | -10.2M | -8.6M | -- |
| Tangible Book Value | -15.9M | -12.7M | -11.3M | -9.6M | -10.2M | -8.6M | -- |
| Working Capital | 578,579 | 1.9M | 2.6M | 4.7M | 3.0M | 3.1M | -- |
| Invested Capital | -1.2M | -94,691 | 7.0M | 9.0M | 8.1M | 9.2M | -- |
| Total Debt | 15.2M | 12.9M | 12.3M | 12.4M | 11.9M | 10.9M | -- |
| Net Debt | 11.4M | 10.6M | 7.6M | 5.5M | 6.7M | 6.1M | -- |
| Share Issued | 583.7M | 583.7M | 583.7M | 583.7M | 543.7M | 543.7M | -- |
| Ordinary Shares Number | 583.7M | 583.7M | 583.7M | 583.7M | 543.7M | 543.7M | -- |
| Capital Lease Obligations | 394,527 | 365,904 | 260,253 | 300,416 | 291,327 | 329,762 | -- |
| Current Capital Lease Obligation | 99,015 | 55,311 | 99,687 | 120,129 | 91,997 | 112,044 | -- |
| Current Deferred Liabilities | 3.7M | 4.1M | 3.9M | 4.6M | 4.8M | 4.4M | -- |
| Employee Benefits | -- | -- | -- | 0.00 | 0.00 | 4,982 | 98,315 |
| Hedging Assets Current | -- | -- | 7,306 | -- | -- | 4,875 | -- |
| Leases | 33,342 | 45,577 | 46,769 | 7,410 | 62,967 | 72,371 | -- |
| Machinery Furniture Equipment | -- | -- | -- | 197,002 | -- | -- | -- |
| Non Current Deferred Liabilities | 1.9M | 2.3M | 2.2M | 2.5M | 1.9M | 1.4M | -- |
| Non Current Deferred Revenue | 1.9M | 2.3M | 2.2M | 2.5M | 1.8M | 1.4M | -- |
| Non Current Deferred Taxes Liabilities | -- | -- | -- | 0.00 | 95,981 | 0.00 | 0.00 |
| Non Current Pension And Other Postretirement Benefit Plans | -- | -- | -- | 0.00 | 0.00 | 4,982 | 98,315 |
| Other Current Borrowings | 270,000 | 240,000 | 210,000 | 180,000 | 135,000 | 90,000 | -- |
| Other Equity Interest | 2.3M | 2.3M | 2.3M | 2.3M | 2.3M | 2.3M | -- |
| Other Payable | 236,437 | 826,437 | 1.0M | 1.2M | 1.0M | 937,451 | -- |
| Other Properties | 157,538 | 301,209 | 214,631 | 250,335 | 243,529 | 281,955 | -- |
| Pensionand Other Post Retirement Benefit Plans Current | 1.4M | -- | -- | -- | -- | -- | -- |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- |
| Taxes Receivable | 271,213 | 275,519 | 432,407 | 298,464 | 133,999 | 272,031 | -- |
| Total Tax Payable | 68,984 | 62,157 | 60,578 | 69,722 | 103,109 | 62,219 | -- |
| Line Item | Q4 2025Dec 31, 2025 | Q3 2025Sep 30, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 | Q2 2024Jun 30, 2024 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -561,828 | -2.3M | -2.1M | -324,626 | 551,175 | -2.0M | -- |
| Cash Flow From Continuing Operating Activities | -561,828 | -2.3M | -2.1M | -324,626 | 551,175 | -2.0M | -- |
| Depreciation And Amortization | 27,234 | 459,560 | 488,450 | 469,256 | 472,675 | 485,951 | -- |
| Depreciation Amortization Depletion | 27,234 | 459,560 | 488,450 | 469,256 | 472,675 | 485,951 | -- |
| Stock Based Compensation | 89,026 | -47,115 | 219,414 | 50,786 | 85,007 | -1,565 | -- |
| Change In Working Capital | 2.2M | -1.5M | -723,453 | 467,114 | 774,299 | -1.4M | -- |
| Changes In Account Receivables | 1.4M | -1.7M | 2.4M | -249,014 | -416,931 | 225,537 | -- |
| Change In Receivables | 1.4M | -1.5M | 2.3M | -398,819 | -285,304 | 209,339 | -- |
| Change In Inventory | 139.00 | 0.00 | 0.00 | -580.00 | 755.00 | 137.00 | -- |
| Change In Payables And Accrued Expense | 1.2M | -238,432 | -642,744 | 488,112 | 156,107 | -865,557 | -- |
| Change In Other Working Capital | -668,430 | 181,404 | -1.3M | 338,642 | 766,798 | -701,967 | -- |
| Other Non Cash Items | 426,187 | 475,147 | 486,301 | 496,334 | 477,408 | 330,960 | -- |
| Capital Expenditure | -- | -- | -- | -- | -- | -5,650 | -8,229 |
| Purchase Of PPE | 0.00 | -6,830 | 0.00 | 0.00 | 0.00 | -5,650 | -- |
| Net PPE Purchase And Sale | 0.00 | -6,830 | 0.00 | 0.00 | 0.00 | -5,650 | -- |
| Investing Cash Flow | 0.00 | -6,830 | 0.00 | 0.00 | 0.00 | -5,650 | -- |
| Cash Flow From Continuing Investing Activities | 0.00 | -6,830 | 0.00 | 0.00 | 0.00 | -5,650 | -- |
| Issuance Of Debt | 2.0M | -- | -- | 0.00 | 0.00 | 250,000 | 0.00 |
| Repayment Of Debt | -84,885 | -96,722 | -95,264 | -51,465 | -47,635 | -64,336 | -- |
| Net Issuance Payments Of Debt | 1.9M | -96,722 | -95,264 | -51,465 | -47,635 | 185,664 | -- |
| Issuance Of Capital Stock | -- | -- | -- | 2.0M | 0.00 | 0.00 | 0.00 |
| Net Common Stock Issuance | -- | -- | -- | 2.0M | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | 1.9M | -96,722 | -96,264 | 1.9M | -47,635 | 178,164 | -- |
| Cash Flow From Continuing Financing Activities | 1.9M | -96,722 | -96,264 | 1.9M | -47,635 | 178,164 | -- |
| Effect Of Exchange Rate Changes | 15,667 | -8,169 | 23,543 | 7,361 | -7,935 | 37,567 | -- |
| Changes In Cash | 1.4M | -2.4M | -2.2M | 1.6M | 503,540 | -1.8M | -- |
| Beginning Cash Position | 2.0M | 4.4M | 6.6M | 5.0M | 4.5M | 6.3M | -- |
| End Cash Position | 3.4M | 2.0M | 4.4M | 6.6M | 5.0M | 4.5M | -- |
| Free Cash Flow | -561,828 | -2.3M | -2.1M | -324,626 | 551,175 | -2.0M | -- |
| Amortization Cash Flow | 0.00 | 447,127 | 443,745 | 430,527 | 425,401 | 427,438 | -- |
| Amortization Of Intangibles | 0.00 | 447,127 | 443,745 | 430,527 | 425,401 | 427,438 | -- |
| Asset Impairment Charge | 184,546 | -- | -- | -- | 0.00 | -- | -- |
| Change In Prepaid Assets | 216,075 | 58,381 | -1.1M | 39,759 | 135,943 | -8,920 | -- |
| Common Stock Issuance | -- | -- | -- | 2.0M | 0.00 | 0.00 | 0.00 |
| Depreciation | 27,234 | 12,433 | 44,705 | 38,729 | 47,274 | 58,513 | -- |
| Gain Loss On Investment Securities | 0.00 | 7,306 | -62,143 | -36,190 | 95,902 | -14,430 | -- |
| Long Term Debt Issuance | 2.0M | -- | -- | 0.00 | 0.00 | 250,000 | 0.00 |
| Long Term Debt Payments | -84,885 | -96,722 | -95,264 | -51,465 | -47,635 | -64,336 | -- |
| Net Foreign Currency Exchange Gain Loss | 92,738 | -93,122 | -386,533 | -70,504 | 350,127 | -173,357 | -- |
| Net Income From Continuing Operations | -3.6M | -7.5M | -2.1M | -1.7M | -1.7M | -1.3M | -- |
| Net Long Term Debt Issuance | 1.9M | -96,722 | -95,264 | -51,465 | -47,635 | 185,664 | -- |
| Net Other Financing Charges | 0.00 | 0.00 | -1,000 | -10,000 | 0.00 | -7,500 | -- |
| Operating Gains Losses | 92,738 | -85,816 | -448,676 | -106,694 | 446,029 | -185,000 | -- |
| Pension And Employee Benefit Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,787 | -- |