EvoAir Holdings Reports 12.1% Revenue Growth to $319,052 for Fiscal Year Ending August 31, 2026

EvoAir Holdings Inc. reported a revenue of $319,052 for the fiscal year ending August 31, 2026, marking a 12.1% increase from $284,666 in the previous year. The company achieved a gross profit of $21,531, a significant turnaround from a gross loss of $19,767 in 2025. This improvement was primarily driven by increased sales of air-conditioning units and related installation services, which rose by 119.5% to $217,416. However, the company also faced a decline in sales of its Ionic Nano Copper Zinc products, which fell by 97.7% to $3,035, impacting overall revenue growth.

In terms of operational efficiency, EvoAir Holdings significantly reduced its operating expenses by 71.6%, from $14,916,838 in 2025 to $4,229,481 in 2026. This reduction was largely due to the absence of a prior year impairment charge and stock-based consulting expenses. The net loss for the year was $4,351,484, a 70.9% improvement compared to the $14,968,005 loss reported in the previous fiscal year. The company attributed this improvement to lower production costs and higher sales volumes, although it continues to face challenges in achieving profitability.

Strategically, EvoAir Holdings has focused on expanding its product offerings and geographical reach, particularly in the eco-friendly HVAC market. The company is actively pursuing an uplisting to the Nasdaq Capital Market, which it believes will enhance its access to capital. As of August 31, 2026, the company had a working capital deficit of $4,541,379, an increase from $2,685,006 in the previous year, indicating ongoing financial challenges. The company has relied on shareholder advances and short-term borrowings to finance its operations, with total amounts due to related parties and other shareholders reaching $3,673,641.

EvoAir Holdings has also made significant changes to its organizational structure, including the cessation of operations at its Cambodian subsidiary, WKL EcoEarth Indochina, which is in the process of dissolution. This move is part of the company's strategy to streamline operations and reduce administrative costs. The company currently employs approximately 22 individuals across its operations in Malaysia, Singapore, and China. Looking ahead, EvoAir Holdings aims to continue its focus on innovation and market expansion, with plans to enhance its product lines and improve operational efficiencies to support long-term growth. However, the company acknowledges that its ability to continue as a going concern is subject to uncertainties, particularly regarding its financial position and the successful implementation of its strategic initiatives.