EL7.AI
StocksMedium•12 November 2026•
4 min read

Vecima Networks Posts C$95.1 Million in Fiscal First-Quarter Revenue

Key Facts

1Revenue was C$95.1 million in the first quarter of fiscal 2027, compared with C$69.2 million a year earlier.
2Net income from continuing operations was C$5.9 million, compared with C$0.1 million in the year-earlier period.
3Adjusted EBITDA was C$18.7 million, with a margin of 19.7%.
4The company maintained its fiscal 2027 revenue growth outlook at 30% to 35%.
5The company cut its calendar 2026 revenue growth outlook to about 20%, from a previous range of 27% to 32%.

Vecima Networks reported results for the first quarter of fiscal 2027, ended September 30, 2026, with revenue of C$95.1 million, according to its official financial report. Revenue rose from C$69.2 million in the year-earlier period and exceeded the C$91.0 million recorded in the fourth quarter of that fiscal year. Net income from continuing operations was C$5.9 million, compared with C$0.1 million in the first quarter of fiscal 2026 and C$5.4 million in the previous quarter. Adjusted EBITDA reached C$18.7 million, up from C$10.9 million a year earlier. The results show growth in revenue and operating earnings as the company revised its outlook for calendar 2026.

Adjusted EBITDA margin rose to 19.7% in the first quarter of fiscal 2027, from 15.7% in the year-earlier period, according to the report. Gross margin, meanwhile, fell to 41.6% from 45.4% in the fourth quarter of fiscal 2026, though it remained slightly above the 41.4% recorded a year earlier. The company attributed the sequential decline in gross margin to a change in product mix, while adjusted EBITDA was C$18.9 million in the previous quarter. The margin indicators were therefore mixed on a sequential basis, with adjusted EBITDA margin improving from its year-earlier level. Net income from continuing operations rose from C$5.4 million in the previous quarter to C$5.9 million.

The Video and Broadband Solutions segment accounted for much of the sales growth, with quarterly revenue of C$76.5 million, compared with C$55.1 million in the year-earlier period. The company said growth in the access business benefited from wider adoption of the Entra EN9000 platform and higher sales of ERM3 Remote-PHY units, alongside continued expansion of fiber-to-the-home deployments. It said sales of the Entra EN9000 platform were particularly strong. These drivers link the segment's expansion to demand for network upgrade equipment and continued fiber infrastructure deployment. The available report did not provide separate figures for each factor's contribution to sales growth.

In the Content Delivery and Storage segment, sales rose to about C$18.6 million from C$14.1 million in the year-earlier period. Vecima attributed growth in Content Delivery Solutions to the start of volume shipments of the TerraceIQ platform. This followed an agreement with a North American Tier 1 customer to upgrade a commercial video network spanning thousands of sites, according to the financial report. The start of volume shipments signals the platform's move into commercial delivery under the agreement, while the targeted network remains broad in scope. The company did not give a specific site count, describing it only as thousands.

The results followed a strong performance in the fourth quarter of fiscal 2026, when the company said revenue was C$91.0 million, up 36% year over year, and adjusted EBITDA reached a record C$18.9 million. In the new first quarter, revenue rose to C$95.1 million, while adjusted EBITDA was C$18.7 million, according to the comparison in the two reports. On the balance sheet, the company reduced net debt to C$24.9 million in the first quarter of fiscal 2027, from C$40.7 million in the fourth quarter. Working capital rose to C$67.9 million as of September 30, 2026, compared with C$62.6 million as of June 30, 2026. The figures put business growth alongside lower net debt and higher working capital during the period.

Vecima maintained its forecast for consolidated revenue growth of 30% to 35% in fiscal 2027 compared with fiscal 2026, according to the report. But it cut its calendar 2026 revenue growth outlook to about 20%, from a previous range of 27% to 32%. The company said the revision followed a key customer postponing some Entra deliveries from late in the second fiscal quarter to early in the third. The update distinguishes between the unchanged fiscal-year outlook and the reduced calendar-year forecast following a change in delivery timing. The company also forecast adjusted EBITDA margin of about 18% in calendar 2026 and 20% in fiscal 2027.

The company had scheduled a call to discuss its first-quarter results for November 12, 2026, at 1:00 p.m. Eastern time, with a live audio webcast available, according to its announcement of the call. The event gives the company an opportunity to present the period's results and discuss the outlook in its financial report. Published guidance includes fiscal-year revenue growth and adjusted EBITDA margins, as well as a lower calendar-year growth forecast following the delay in Entra deliveries. The available information does not confirm Vecima's share-price movement during the news session or compare results with analyst consensus. The report therefore remains focused on the results and guidance the company announced for the two periods.