UNISYNC Corp. Reports Q2 Fiscal 2026 Results

TORONTO, May 01, 2026 (GLOBE NEWSWIRE) -- Unisync Corp. (“Unisync") (TSX:"UNI") (OTC:“USYNF”) today announced its financial results for the three and six months ended March 31, 2026, the Company reported net income of $2.2 million ($0.11 per share) for the quarter, compared to net income of $0.1 million ($0.00 per share) in the same period last year. Revenues increased by $4.1 million year-over-year to $28.7 million, driven primarily by previously announced new business that commenced shipping during the quarter. The Company also delivered significant margin expansion and improved profitability, with gross margin increasing to 25.8% and Adjusted EBITDA rising to $4.7 million.

In addition, the Company has secured over $8.0 million in incremental annual new business during the quarter, further strengthening its growth outlook.

“Our second quarter results build on the strong start to the year and reflect the continued momentum across our business. We are seeing the benefits of new program wins translating into revenue growth, alongside stronger margins, improved efficiency, and disciplined execution. With a solid pipeline of new business and a focused team delivering on our strategic priorities, we remain confident in our ability to drive sustained growth and profitability through the balance of the year.” said Michael Smith, President of Unisync Group.

Highlights

Q2 2026:

Net income before income taxes of $3.1 million, compared to $1.0 million in the prior year
Gross margin increased to 25.8% from 20.5% year over year
Adjusted EBITDA⁽¹⁾ increased to $4.7 million (16.4%) compared to $3.2 million (12.9%)
Interest expense declined by $0.2 million due to overall reduced borrowings

Year to Date 2026

Net income before income taxes of $4.3 million, compared to a net loss of $0.1 million in the prior year
Gross margin increased to 24.9% from 20.2%
Adjusted EBITDA⁽¹⁾ increased to $7.4 million (14.9%) compared to $5.7 million (12.4%)

Operational and Financial Review

Revenues for the three months ended March 31, 2026, were $28.7 million, compared to $24.5 million in the prior year. The increase was primarily attributable to previously announced new business wins that began shipping during the current quarter. Gross Profit increased to $7.4 million from $5.0 million, with gross margin improving to 25.8% from 20.5%. The year-over-year improvement was driven by higher sales volumes, and a more favourable sales mix.

New Business and Outlook

During the three months ended March 31, 2026, the Company secured an additional $8.2 million in annualized new business in both UGL and Peerless segments, with the majority of the new business wins in the U.S, further strengthening and diversifying its U.S customer base. Year to date, including awards in the first quarter, the Company has achieved approximately $15.2 million in annual new business, demonstrating strong pipeline conversion.

Management of Unisync Group Limited (“UGL”) segment continues to actively pursue a robust pipeline of material opportunities expected to come to market in both Canada and the U.S. during calendar 2026.

The Peerless Garments segment has $26.5 million in firm contracts and options as at March 31, 2026 and continues to pursue additional contract opportunities as they arise.

More detailed information is contained in the Company’s Consolidated Financial statements for the three and six months ended March 31, 2026 and Management Discussion and Analysis dated May 1, 2026, which may be accessed at www.sedarplus.ca.

Investor relations contact:
Manish Arora, Chief Financial Officer: marora@unisyncgroup.com

⁽¹⁾Adjusted EBITDA
The Company prepares its financial statements with IFRS^® Accounting Standards (“IFRS”). Adjusted EBITDA does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers and should not be considered in isolation nor as a substitute for financial information reported under IFRS. Unisync uses non-IFRS measures, including Adjusted EBITDA, to provide shareholders with supplemental measures of its operating performance. Unisync believes that adjusted EBITDA is a widely accepted indicator of an entity’s ability to incur and service debt, measure financial performance, and commonly used by the investing community to value businesses. A reconciliation of Adjusted EBITDA to Net Income (loss) is included in the Company’s Management Discussion and Analysis for the three months ended December 31, 2025, and available on SEDAR+ at www.sedarplus.ca

Forward Looking Statements
This news release may contain forward-looking statements that involve known and unknown risk and uncertainties that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. Any forward-looking statements contained herein are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

About Unisync Corp.
Unisync operates through two business units: Unisync Group Limited (“UGL”) with operations throughout Canada and the USA and 92% owned Peerless Garments LP (“Peerless”), a domestic manufacturing operation based in Winnipeg, Manitoba. UGL is a leading customer-focused provider of corporate apparel, serving many leading Canadian and American iconic brands. Peerless specializes in the production and distribution of highly technical protective garments, military operational clothing, and accessories for a broad spectrum of Federal, Provincial and Municipal government departments and agencies.

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