Orbit Garant Q4 FY26 turns to net loss of CAD 1.9 million; revenue rises 21.3% to CAD 57.2 million
Bitget2026/09/25 02:46- Forage Orbit Garant posted Q4 net loss of CAD 1.9 million, swinging from profit; revenue rose 21.3% to CAD 57.2 million.
- Gross profit slid to CAD 4.6 million from CAD 7.6 million, while gross margin narrowed 7.8 percentage points to 8.2%.
- CEO Daniel Maheu said record quarterly revenue came with 70% rig utilization, the highest level since fiscal 2012.
- Maheu said Canadian profitability fell on lower productivity tied to trainee drillers, input-cost inflation, and lower revenue per metre on legacy contracts.
- Orbit Garant said results were hit by a CAD 1.4 million non-cash expected credit loss tied to a long-term receivable from West Africa.
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