Revenue grew 90% year-over-year in Q3 Fiscal 2026 to $367,083, and 235% year-over-year on a nine-month basis to $1,129,858, with gross margin of 70.9% in the quarter and 72.6% for the nine-month period
In recent months, the Company has added or expanded four commercial engagements spanning life insurance, hospitality, wellness, and a leading social media platform
Throughout the quarter and following it, SalesCloser continued to strengthen its technological offering and moat, including through the launch of a self-serve multimodal AI website agent and the granting of a third U.S. patent
VANCOUVER, BC, Aug. 28, 2026 (GLOBE NEWSWIRE) — SalesCloser Technologies Ltd. (“SalesCloser” or the “Company“) (TSXV: SCAI) (OTCQB: SCTLF) (FSE: MJ5), a pioneer in autonomous AI sales technology, today announced that it has filed its condensed interim consolidated financial statements (the “Interim Financial Statements“) and management’s discussion and analysis (the “MD&A“) for the three and nine months ended June 30, 2026 (“Q3 Fiscal 2026” and the “Nine-Month Period“, respectively). Copies of the Interim Financial Statements and MD&A are available on the Company’s profile on SEDAR+ at www.sedarplus.ca. All amounts are reported under International Financial Reporting Standards (“IFRS Accounting Standards“) and stated in Canadian dollars unless otherwise indicated.
Ali Tajskandar, Chief Executive Officer of SalesCloser, commented: “Q3 Fiscal 2026 was our first full quarter operating as a standalone public company, and we saw continued progress against the trajectory we set at listing. Revenue grew 90% year-over-year in the quarter and 235% on a nine-month basis, with gross margin expanding to 72.6% year-to-date. We expanded into new industries beyond outbound sales, launched our first self-serve product, brought our third U.S. patent to grant in approximately 100 days, and completed a third exchange listing on the OTCQB Venture Market. We believe SalesCloser is well-positioned to pursue continued revenue growth and to progress toward our long-term gross margin target of in excess of 80%.”
The Interim Financial Statements have been prepared as a continuation of the historical financial statements of SalesCloser Technologies Inc. (the accounting acquirer), with comparative period figures presented on a carve-out basis from the accounting records of Wishpond Technologies Ltd. (TSXV: WISH). Readers are referred to the MD&A and Note 2 of the Interim Financial Statements for further information regarding the basis of presentation.
Q3 and Nine-Month Fiscal 2026 Financial Highlights
- Revenue of $367,083 in Q3 Fiscal 2026 (Q3 Fiscal 2025: $192,936), an increase of approximately 90% year-over-year; revenue of $1,129,858 for the Nine-Month Period (nine months ended June 30, 2025: $337,305), an increase of approximately 235% year-over-year.
- Geographic diversification: United States customers represented approximately 50% of Q3 Fiscal 2026 revenue, with international customers (Canada, the United Kingdom, and other markets) accounting for approximately 50%, reflecting the Company’s continued global revenue mix.
- Gross margin of 70.9% in Q3 Fiscal 2026, compared to 64.7% in Q3 Fiscal 2025; gross margin of 72.6% for the Nine-Month Period, compared to 59.5% for the nine months ended June 30, 2025.
- Cash of $3,778,297 at June 30, 2026 (September 30, 2025: $33,677). Total liabilities of $805,426; the Company continues to carry no long-term debt. Cash at quarter-end reflects deployment of financing proceeds against product development, patent protection, AI compute infrastructure, and go-to-market expansion in accordance with the use of proceeds disclosed in the Company’s Filing Statement.
- Adjusted EBITDA1 of negative $1,421,113 in Q3 Fiscal 2026 (Q3 Fiscal 2025: negative $410,786); Adjusted EBITDA of negative $2,647,415 for the Nine-Month Period (nine months ended June 30, 2025: negative $755,959). The year-over-year change reflects continued deliberate investment in the Company’s standalone public company infrastructure, expanded sales and customer success capacity, technology and AI compute infrastructure, and intellectual property portfolio development.
- Net loss of $1,814,549 in Q3 Fiscal 2026 (Q3 Fiscal 2025: $431,587), a decrease from the $4,763,169 net loss recognized in Q2 Fiscal 2026, primarily reflecting lower Qualifying Transaction-related non-cash items. The Q3 Fiscal 2026 net loss includes a residual non-cash reverse takeover listing expense of $202,129 (Q2 Fiscal 2026: $2,648,096), representing transaction costs finalized after the March 26, 2026 closing date, and stock-based compensation of $136,617 (Q2 Fiscal 2026: $1,223,180) reflecting continued vesting of Incentive Options granted at closing. Both items are excluded from Adjusted EBITDA as non-recurring or non-cash in nature.
Recent Business Highlights and Corporate Updates
- Continued expansion of the enterprise customer base across new industry verticals. During and subsequent to the third quarter, the Company announced four new or expanded commercial engagements. On May 29, 2026, the Company began deploying its conversational AI platform with a Latin American operating unit of global life insurance conglomerate, intended to support life insurance customer engagement and onboarding workflows. On June 5, 2026, the Company announced its first hospitality deployment at a 270-room North American beachfront resort property affiliated with one of the largest hotel companies globally, applying its AI voice agents to after-hours room service intake through a direct integration with the property’s Oracle Hospitality point-of-sale platform. On July 27, 2026, the Company announced an engagement with Xennox Solutions Ltd., a software provider serving the wellness, spa and resort sectors, to support Xennox’s international business development activities across the Middle East and Asia. On July 31, 2026, the Company announced that a regional division of a global social media platform had entered the commercial deployment phase of the Company’s platform, following an initial pilot, applying it to applicant qualification for one of the customer’s high-volume onboarding programs.1
- Launch of the Company’s first self-serve product. On June 16, 2026, the Company launched a new self-serve, multimodal AI website agent that businesses can deploy on their websites, combining text-based chat and live audio-visual conversation in a single agent, with support for more than 30 languages. The Company believes the launch is intended to broaden its addressable market beyond organizations with dedicated sales functions to the larger universe of businesses that operate a website, within a conversational AI market that Grand View Research projects will reach approximately US$41.39 billion by 20302.
- Continued strengthening of the intellectual property portfolio. On August 13, 2026, the United States Patent and Trademark Office granted the Company U.S. Patent No. US12694346B1 (“Memory Management System for Appointment Scheduling”), which covers technology used to enable SalesCloser’s AI sales agents to book, confirm and reschedule appointments within a live conversation. This is the Company’s third U.S. patent grant announced in approximately 100 days. On August 25, 2026, the Company filed a new U.S. patent application titled “Hybrid Session Management Across Text and Voice Channels,” covering technology underlying the self-serve multimodal website agent. The Company’s intellectual property portfolio now comprises three granted U.S. patents together with additional pending U.S. patent applications.
- Broadened capital markets access and investor visibility. On July 7, 2026, the Company’s common shares commenced trading on the OTCQB Venture Market in the United States under the symbol “SCTLF,” extending investor accessibility across North America. The Company’s shares continue to trade on the TSX Venture Exchange under “SCAI” and on the Frankfurt Stock Exchange under “MJ5.”
Selected Financial Highlights
| Three months ended June 30, 2026 ($) |
Three months ended June 30, 2025 ($) |
Nine months ended June 30, 2026 ($) |
Nine months ended June 30, 2025 ($) |
|
| Revenue | 367,083 | 192,936 | 1,129,858 | 337,305 |
| Cost of sales | 106,720 | 68,189 | 309,340 | 136,769 |
| Gross profit | 260,363 | 124,747 | 820,518 | 200,536 |
| Gross margin | 70.9% | 64.7% | 72.6% | 59.5% |
| Total operating expenses | 1,867,116 | 556,089 | 4,940,400 | 1,008,335 |
| Loss from operations | (1,606,753) | (431,342) | (4,119,882) | (807,799) |
| Reverse takeover listing expense | 202,129 | – | 2,850,225 | – |
| Net loss for the period | (1,814,549) | (431,587) | (7,021,319) | (811,404) |
| Adjusted EBITDA1 | (1,421,113) | (410,786) | (2,647,415) | (755,959) |
| Cash – end of period | 3,778,297 | 26,960 | 3,778,297 | 26,960 |
| Total assets – end of period | 5,580,620 | 574,950 | 5,532,667 | 574,950 |
| Total liabilities – end of period | 805,426 | 92,902 | 757,473 | 92,902 |
Balance sheet items (Cash, Total assets, and Total liabilities) for the comparative period are presented as at September 30, 2025, being the last audited balance sheet date and the comparative period presented in the Interim Financial Statements in accordance with IAS 34.
Reconciliation of Loss Before Income Taxes to Adjusted EBITDA1
| Three months ended June 30, 2026 ($) |
Three months ended June 30, 2025 ($) |
Nine months ended June 30, 2026 ($) |
Nine months ended June 30, 2025 ($) |
|
| Loss before income taxes | (1,814,549) | (431,587) | (7,021,319) | (811,404) |
| Depreciation and amortization | 49,023 | 20,556 | 112,670 | 51,840 |
| Accretion expense | – | – | 52,275 | – |
| Other expenses | 5,667 | 245 | (1,063) | 3,605 |
| Stock-based compensation | 136,617 | – | 1,359,797 | – |
| Reverse takeover listing expense | 202,129 | – | 2,850,225 | – |
| Adjusted EBITDA1 | (1,421,113) | (410,786) | (2,647,415) | (755,959) |
About SalesCloser
SalesCloser.ai is a Vancouver-based AI software company focused on automating and scaling revenue generation through conversational AI. The Company’s platform enables businesses to deploy AI-powered virtual sales agents that engage prospects and customers across the sales lifecycle. SalesCloser’s agents conduct real-time, personalized interactions across voice, video, and digital channels, including lead qualification, product demonstrations, follow-ups, and meeting scheduling. By augmenting core sales functions, the platform is designed to help organizations increase capacity, accelerate pipeline velocity, and improve conversion rates without a corresponding increase in headcount. The platform integrates with existing CRM and business systems, supports multilingual deployment, and is intended to deliver consistent customer interactions across industries. SalesCloser operates under a subscription-based SaaS model, generating recurring revenue, while continuing to develop its AI capabilities. The Company’s technology is supported by a growing portfolio of patents and patent applications focused on improving the performance of AI-driven conversational workflows. SalesCloser.ai is listed on the TSX Venture Exchange under the ticker “SCAI”, on the OTCQB Venture Market under the ticker “SCTLF”, and on the Frankfurt Stock Exchange under the ticker “MJ5”. For more information, visit the SalesCloser investor site at: https://investors.salescloser.ai.
Cautionary Statements, Summary Information
Information presented in this press release may be only a summary of all available information and does not purport to be a full representation of all figures, notes and discussions provided for in the Interim Financial Statements and the MD&A. Readers are cautioned to read the entirety of the Interim Financial Statements and the MD&A, and not to rely solely on the information presented in this press release. In the event of any conflict between the provisions of this press release on the one hand, and the Interim Financial Statements and the MD&A on the other hand, the information in the Interim Financial Statements and the MD&A shall govern.
Non-IFRS and Other Financial Measures
This press release contains references to Adjusted EBITDA, a non-IFRS financial measure. Adjusted EBITDA is not a recognized financial measure under IFRS Accounting Standards, does not have any standardized meaning prescribed by IFRS Accounting Standards and therefore may not be comparable to similar measures presented by other entities. Management believes that Adjusted EBITDA provides useful supplemental information regarding the Company’s operating performance and uses it to evaluate the underlying performance of the business. Adjusted EBITDA should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Accounting Standards. Readers are cautioned not to place undue reliance on this measure.
(1) Adjusted EBITDA is defined as loss before income taxes, less interest expense, interest income, depreciation and amortization, stock-based compensation, reverse takeover listing expense, and other one-time or non-recurring items. Adjusted EBITDA is presented because management believes it provides useful supplemental information regarding the Company’s operating performance by excluding non-cash items and items that are not reflective of the ongoing operations of the business. A reconciliation of loss before income taxes to Adjusted EBITDA is presented above.
Forward-Looking Statements
Statements that are not reported financial results or other historical information are forward-looking statements or forward-looking information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). This press release includes forward-looking statements regarding, among other things: the Company’s expected future revenue growth and customer acquisition; the future development and increased use of products incorporating artificial intelligence; the Company’s ability to scale operations and expand its enterprise customer base across new industry verticals; the anticipated benefits of the Company’s recently announced commercial engagements; the anticipated features, capabilities, availability and benefits of the Company’s self-serve multimodal AI website agent, including its anticipated impact on the Company’s addressable market; the future development and increased use of the Company’s AI inference infrastructure; the Company’s intellectual property strategy and patent portfolio expansion, including expectations around the outcome of pending patent applications; the anticipated benefits of the recently filed U.S. patent application covering hybrid session management across text and voice channels; expectations regarding future financial performance, including, without limitation, gross margins and the Company’s long-term gross margin profile in excess of 80%; the Company’s ability to capitalize on market demand for conversational AI; the anticipated benefits of the Company’s listing on the OTCQB Venture Market, including increased visibility and access to U.S. investors; the Company’s commercial expansion and go-to-market strategies; future profitability and operational results; business and acquisition strategies; opportunities, objectives, prospects; the impact of broader economic factors on the Company; and future events and performance. Sentences and phrases containing or modified by words such as “expect”, “anticipate”, “plan”, “continue”, “estimate”, “intend”, “may”, “will”, “project”, “predict”, “potential”, “targets”, “projects”, “is designed to”, “strategy”, “should”, “believe”, “contemplate” and similar expressions, and the negative of such expressions, are not historical facts and are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements in this press release are reasonable and are based on, among other things, the expectations and analysis of current market trends and opportunities of management of the Company, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including, but not limited to: risks associated with changes to SalesCloser and other product’s revenue and profitability; changes to customer preferences; competition; use cases for SalesCloser and other products; the Company’s reliance on third-party service providers, including telecommunications and AI infrastructure partners; the Company’s ability to retain key personnel and hire additional personnel; risks associated with the adoption and monetization of new products, including the self-serve multimodal AI website agent; risks related to the Company’s intellectual property, including the outcome of pending patent applications and the ability to protect and enforce intellectual property rights; economic uncertainty and instability as a result of ongoing inflation and supply chain issues, higher interest rate climate, tightening of credit availability and recessionary risks; pandemic-related risks; wars; tariffs; instability in global commodity and securities markets; shifts in consumer and institutional spending and marketing strategies; risks related to data breaches and privacy; the changing global market and competition for the products and services supplied by the Company; and the additional risk factors discussed in the continuous disclosure materials of the Company which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Corporate Contact:
Adrian Lim, Chief Financial Officer
Email: investors@salescloser.ai
Phone: 778-655-4329
Investor Relations Contact:
Arx Investor Relations
North American Equities Desk
SCAI@arxhq.com
1 Certain of the customer engagements described above are not individually material to the Company’s revenue for the periods presented, however, they are noted as the Company views them as important market validation for its product. Certain customers are described generally rather than by name because those customers have not consented to being identified.
2 Source: Grand View Research, Inc., “Conversational AI Market to be Worth $41.39 Billion by 2030 at CAGR 23.7%” (May 12, 2025).
