Driveitaway revenue up 79% but net loss widens to $1.5M on debt-discount charges

Filed May 22, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 20, 2025 · ~1 min read

Key Changes

• high

  Q1 revenue grew 79% YoY to $377K and operating loss narrowed 40% to $142K, but net loss ballooned to $1.5M driven by $1.4M in non-cash debt-discount amortization as convertible notes approach maturity.

  MD&A: Operating Results verify on EDGAR →
• high

  Derivative liabilities surged tenfold to $4.8M from $474K a year ago, reflecting adverse revaluation of embedded conversion features; six-month net loss of $971K reversed prior-year $8.5K profit.

  MD&A: Fair Value Measurements verify on EDGAR →
• high

  Company sold $348K of fleet assets in H1 FY2026 versus buying $137K of vehicles in H1 FY2025, suggesting shift from fleet expansion to liquidity management amid $9.0M working capital deficiency.

  MD&A: Cash Flows verify on EDGAR →