SLP returns to profitability, doubles R&D spend, enters merger agreement with Altaris

Filed July 9, 2026 · Period ending May 31, 2026 · Compared to 10-Q Jul 15, 2025 · ~2 min read

Key Changes

• high

  Entered definitive merger agreement with Altaris on June 15, 2026; interim covenants restrict share repurchases, dividends, equity issuance, debt incurrence, acquisitions, and significant capex until deal closes or terminates.

  Risk Factors: Pending Merger verify on EDGAR →
• high

  Q3 FY26 net income of $3.6M vs. $67.3M loss prior year; nine-month gross margin improved to 65% from 59% (+600 bp) driven by higher services revenue, lower software amortization post-impairment, and improved operating efficiency.

  MD&A: Profitability and Margins verify on EDGAR →
• high

  R&D expense nearly doubled in Q3 FY26 (+$2.0M, +98%) to fund cloud-enabled, AI-driven modeling ecosystem; nine-month R&D spend up 62% to $9.9M as resources shifted from services to product development.

  MD&A: R&D Investment verify on EDGAR →