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Hypercharge Networks Corp. (HC-X) earned its highest quarterly revenue and gross profit to date in its Q3 2025 financial results, the Vancouver-based electric vehicle (EV) charging company announced.
For the three months ended Dec. 31, 2024, the company generated approximately $5 million in revenue from deliveries of EV charging equipment and subscriptions and services, resulting in $1.7 million in gross profit. Though it ran at a net loss of $339,227, it was an improvement from the loss of $2.4 million the year prior.
David Bibby, president and CEO of Hypercharge, said Q3 2025 marked the fourth consecutive quarter of revenue growth and a 756 per cent year-over-year increase in revenue.
“With a robust sales backlog and an expanding footprint across North America, we remain well-positioned for continued success,” Bibby said in a release.
Hypercharge operates in eight provinces and one territory in Canada, and 14 U.S. states, serving businesses and residential buildings with EV chargers and software. As of February, the company has sold over 5,000 charging ports in Canada and the U.S.
Its deliveries in Canada include providing 200 of its EVC11 Level 2 Charging Stations to PCI Developments for the King George Hub development in Surrey, B.C. Hypercharge also struck a partnership with Mattamy Homes to deliver 323 chargers for Mattamy’s multiresidential housing in the Toronto area.
Q3 2025 results
Q3 2025 was a bumper quarter for the company, representing over two-thirds of its $7.3 million in revenue for the nine months ended Dec. 31, 2024.
Driving its performance in the quarter was delivering 535 charging ports, a 115 per cent increase year-over-year. It completed deliveries of 117 Level 2 charging stations and one dual-port DC fast charging station to the King George Hub from its sales backlog.
Hypercharge has delivered over 3,500 charging ports since it began operations in June 2021.
Its sales backlog was $8.8 million at the end of Q3 2025, a 60 per cent increase from the year prior.
The company added 9,000 registered users on its mobile app in the quarter, a 170 per cent increase compared to the year prior. Hypercharge now has over 23,000 app users.
Operating expenses were $1.4 million in Q3 2025, a 47 per cent decrease from the year prior. A $1.2-million reduction in expenses — general and administrative, and sales and marketing — was attributed to the decline.
Loss per share, basic and diluted, was $0.01, compared to a loss of $0.04 a year ago in the same quarter.
Liabilities stood at $4.6 million as of Dec. 31, 2024, an increase from $3.3 million in the prior quarter and $2.2 million in Q3 2023. Working capital as of Dec. 31, 2024 was $697,060, while cash and cash equivalent was $1.5 million.
Hypercharge’s nine months ended Dec. 31
The $7.3 million in revenue for the nine-month period ended Dec. 31, 2024 marks an increase of 362 per cent from the same period the year prior.
Operating expenses fell year-over-year from $7.2 million to $4.9 million, a 32 per cent decline. Hypercharge said a $2.1-million reduction in general and administrative expenses was most responsible for the change.
Hypercharge reported a net loss of $3.1 million in the nine-month period, which was an improvement from a loss of $6.4 million the year prior. Loss per share was $0.04, compared to a loss of $0.09 in the nine months ended Dec. 31, 2023.
The company had yet to achieve profitable operations, according to a management’s discussion and analysis for Q3 2025.
Bibby said the company will operate with “disciplined growth and cost management” as it works toward “even stronger operating performance."
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