Edmonton, Alberta--(Newsfile Corp. - May 6, 2026) - Visionstate Corp. (TSXV: VIS) today reported its financial results for the second quarter ended March 31, 2026, highlighting 27% year-over-year revenue growth and increasing market traction for its MIRA compliance platform, as organizations accelerate adoption of compliance-driven solutions across multiple sectors.

Revenue for the three-month period ended March 31, 2026, increased to $262,114, compared to $206,350 in the same period in 2025. For the six-month period, revenue increased to $404,719, compared to $353,258 in the prior year period.

The increase in revenue reflects continued growth in the Company's recurring licensing base, supported by new deployments and early-stage activity in the United States market.

Gross margins remained strong at approximately 72% for the quarter and 79% year-to-date, demonstrating the scalability of the Company's software-driven business model.

Operating expenses were reduced during the period, with selling, general and administrative expenses declining to $66,921 for the quarter, compared to $107,599 in the same period in 2025, and to $129,814 for the six-month period, compared to $210,637 in the prior year period. The reduction reflects management's focus on cost discipline and a shift toward revenue-generating activities.

"These results reflect the continued execution of our strategy," said John Putters, CEO of Visionstate Corp. "We are seeing measurable revenue growth, improving operating efficiency, and increasing adoption of our MIRA platform. As regulatory requirements and liability considerations continue to rise, organizations are moving toward systems that provide real-time verification and audit-ready data."

MIRA Platform Traction

During the quarter, Visionstate continued to advance its MIRA platform, which enables organizations to digitally verify cleaning activities, conduct inspections, and generate audit-ready data in real time.

The platform is designed to support evolving regulatory and operational requirements across healthcare, transportation, commercial real estate, and public facilities.

The Company's positioning within the compliance segment is supported by regulatory developments such as Ontario's Bill 190, which requires the public display of cleaning records in certain facilities. Management believes these developments reflect a broader shift toward accountability, transparency, and documented operational workflows.

Recurring Revenue Model

Visionstate operates under a software-as-a-service (SaaS) model, where each new customer deployment contributes to a growing base of recurring revenue through annual licensing and subscription fees.

This model provides increasing revenue visibility and predictability over time, as each new installation builds on the Company's cumulative subscription base.

The Company has also introduced additional revenue layers through modules such as MIRA Inspections, which expands revenue per location while increasing platform adoption within client operations.

U.S. Market Activity

During the period, Visionstate continued to build its presence in the United States through distribution partnerships and targeted sales initiatives. A U.S.-based distribution partner has commenced activity, with revenue expected to be reflected in subsequent reporting periods.

Management believes that expanding distribution channels will support increased subscription growth over time.

Operational Efficiency and Platform Development

The Company continues to focus on operational efficiency, prioritizing scalable, high-margin software solutions while reducing reliance on lower-margin activities.

Visionstate is also advancing platform capabilities through enhancements in reporting, analytics, and AI-driven functionality under its TidyLogic initiative, which is designed to support predictive insights and improved operational decision-making.

Outlook

Visionstate's priorities for the remainder of fiscal 2026 include continued growth in recurring subscription revenue, increased adoption of compliance and inspection modules, and further development of analytics and AI-driven capabilities. The Company also expects continued progress in its U.S. initiatives as distribution activity expands.

"We believe we are at the early stages of a structural shift toward compliance, transparency, and real-time verification," added Putters. "Our focus is on scaling the MIRA platform, growing our recurring revenue base, and positioning the Company to participate in this evolving market."

Upcoming Investor Coffee Chat

Visionstate will host its next investor Coffee Chat on Thursday, May 7, 2026, at 10:30 AM EST. Management will provide an update on the Company's recent performance, ongoing initiatives, and market positioning of its MIRA compliance platform. Interested participants may request conference details by emailing info@visionstate.com.

About Visionstate Corp.

Visionstate Corp. (TSXV: VIS) is a technology company focused on compliance-driven subscription solutions for regulated and high-traffic facilities. Through its wholly owned subsidiary, Visionstate IoT Inc., the Company delivers the MIRA platform, which enables organizations to digitally verify, audit, and document operational activities in support of regulatory transparency and accountability requirements.

The Company's subscription-based platform is deployed across hospitals, airports, shopping centres, educational institutions, and other public facilities across North America.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

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Source: Visionstate Corp.