Netcapital Reports Third Quarter Fiscal 2026 Financial Results and Provides Corporate Update

• Key milestones include acquisition of Iverson Design and signing PureWave Hydrogen as first tokenization client
• Management to host business update conference call tomorrow at 10:00 am ET
  
  
  
  

BOSTON, MA, March 19, 2026 (GLOBE NEWSWIRE) -- Netcapital Inc. (NASDAQ:NCPL, NCPLW, Netcapital)) (the "Company"), a digital private capital markets ecosystem, today announced financial results and provided corporate highlights for the third quarter of fiscal 2026 ended January 31, 2026. In addition, management plans to host a business update conference call tomorrow, March 20, 2026, at 10:00 a.m. ET.

"We completed several key transactions in fiscal Q3 2026," said Rich Wheeless, Netcapital's Chief Executive Officer.

• "We partnered with Silicon Prairie Holdings Inc., which provides critical regulatory infrastructure in support of secondary trading of securities previously sold under various exemptions.
• We acquired Iverson Design, contributing proprietary AI-powered design and visualization technologies and marking an important step in our transformation into a tokenization and digital asset platform. In conjunction with this transaction, Michael Iverson came on board as Chief Design Director and Head of AI Experience, adding in-house capabilities spanning motion graphics, 3D visualization, real-time rendering, and investor presentation design.
• In addition, PureWave Hydrogen became our first tokenization client, expanding our potential revenue streams into real-world asset tokenization."
  
  
  
  

"We believe the strength of our platform and these and other investments position us for renewed growth, and to that end, I'm pleased to report fiscal Q3 2026 revenues increased from fiscal Q2 2026. We also gained traction at our broker-dealer, which signed four new clients during the quarter. With the business carrying gross margins consistently above 90% and highly scalable infrastructure in place, I'm laser-focused on driving increasing and new revenue streams with the goal of improving our bottom-line results in the coming quarters," added Wheeless.

Third Quarter Fiscal 2026 Financial Highlights:

• Total revenues were $94,347 compared to $152,682 in the prior-year quarter, primarily reflecting lower funding portal activity.
• Operating loss was $2,174,335, compared to an operating loss of $1,687,692 in the year ago period.
• Net loss was ($0.32) per basic and diluted share, compared to a net loss of ($1.57) per basic and diluted share in the year ago period.
• Cash and cash equivalents at January 31, 2026 of $715,443, up from $289,428 at April 30, 2025.
  
  
  
  

Conference Call Information

The Company will host an investor conference call on March 20, 2026, at 10:00 a.m. ET.

Participant access: 844-985-2012 or 973-528-0138

Conference entry code: 430260

For additional disclosure regarding Netcapital's operating results, please refer to the Quarterly Report on Form 10-Q for the three-month period ended January 31, 2026, which has been filed with the Securities and Exchange Commission.

About Netcapital Inc.

Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company's funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association. The Company's broker-dealer, Netcapital Securities Inc., is also registered with the SEC and is a member of FINRA.

Forward Looking Statements

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Investor Contact

800-460-0815 

[email protected]

NETCAPITAL INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

		January 31, 2026 (Unaudited)				April 30, 2025 (Audited)
Assets:
Cash and cash equivalents		$	715,443			$	289,428
Accounts receivable, net			1,231				78,649
Other receivables			11,671				-
Prepaid expenses			313,576				31,535
Total current assets			1,041,921				399,612
Deposits			6,300				6,300
Notes receivable - related parties			50,000				50,000
Purchased technology, net			19,151,139				14,697,529
Equity securities at fair value			5,810,495				5,748,050
Total assets		$	26,059,855			$	20,901,491
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable		$	1,667,240			$	2,941,108
Accrued expenses			262,271				269,971
Deferred revenue			270				330
Interest payable			107,302				100,797
Short-term promissory notes			-				263,437
Current portion of SBA loans			1,893,357				1,885,800
Loan payable - bank			34,324				34,324
Total current liabilities			3,964,764				5,495,767
Long-term liabilities:
Long-term SBA loans, less current portion			492,443				500,000
Total liabilities			4,457,207				5,995,767
Commitments and contingencies			-				-
Stockholders' equity:
Preferred stock, $0.001 par value, 10,000,000 shares authorized, 0 shares outstanding			-				-
Common stock, $.001 par value; 900,000,000 shares authorized, 6,847,899 and 2,192,226 shares issued and outstanding			6,848				2,192
Shares to be issued			-				200,000
Capital in excess of par value			57,001,947				42,525,294
Retained earnings (deficit)			(35,406,147	)			(27,821,762	)
Total stockholders' equity			21,602,648				14,905,724
Total liabilities and stockholders' equity		$	26,059,855			$	20,901,491

NETCAPITAL INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

		Three Months Ended				Three Months Ended				Nine Months Ended				Nine Months Ended
		January 31, 2026				January 31, 2025				January 31, 2026				January 31, 2025
Revenue		$	94,347			$	152,682			$	335,481			$	465,437
Cost of revenue			1,823				7,155				11,109				37,156
Gross profit			92,524				145,527				324,372				428,281
Costs and expenses:
Consulting expense			268,032				63,555				428,718				240,581
Marketing			4,984				12,887				14,839				31,993
Rent			21,300				20,178				65,452				58,736
Payroll and payroll related expenses			1,097,998				815,024				3,747,881				2,701,318
General and administrative costs			874,545				921,575				3,646,922				3,794,013
Total costs and expenses			2,266,859				1,833,219				7,903,812				6,826,641
Operating loss			(2,174,335	)			(1,687,692	)			(7,579,440	)			(6,398,360	)
Other income (expense):
Interest expense			(24,076	)			(10,376	)			(72,347	)			(30,441	)
Interest income			630				400				11,671				1,200
Impairment expense			-				(1,300,000	)			-				(1,300,000	)
Loss on debt conversion			(10,815	)			-				(10,815	)			-
Amortization of intangible assets			(54,298	)			(8,869	)			(72,036	)			(26,607	)
Unrealized loss on equity securities, net			(49,950	)			-				(5,005	)			-
Insurance recovery			500,000				-				500,000				-
Accretion of short-term notes			-				-				(356,413	)			-
Total other income (expense)			361,491				(1,318,845	)			(4,945	)			(1,355,848	)
Net loss before taxes			(1,812,844	)			(3,006,537	)			(7,584,385	)			(7,754,208	)
Income tax expense (benefit)			-				-				-				-
Net loss		$	(1,812,844	)		$	(3,006,537	)		$	(7,584,385	)		$	(7,754,208	)
Basic loss per share		$	(0.32	)		$	(1.57	)		$	(1.71	)		$	(6.93	)
Diluted loss per share		$	(0.32	)		$	(1.57	)		$	(1.71	)		$	(6.93	)
Weighted average number of common shares outstanding:
Basic			5,612,356				1,915,367				4,432,039				1,119,479
Diluted			5,612,356				1,915,367				4,432,039				1,119,479