Revenue Increased to $24.9 Million, Net Income Totaled $3.9 Million, and Cash & Marketable Securities Increased to Approximately $31 Million
VANCOUVER, BC, June 1, 2026 /CNW/ - Victory Square Technologies Inc. (CSE: VST) (OTCQX: VSQTF) (FWB: 6F6) ("Victory Square", "VST", or the "Company"), a venture builder focused on healthcare infrastructure, digital health, artificial intelligence, and emerging technology platforms, today announced its financial results for the three months ended March 31, 2026.
Q1 2026 marked another important milestone in Victory Square's evolution from venture builder to platform owner.
During the quarter, the Company continued to support portfolio companies operating across healthcare infrastructure, digital health, artificial intelligence, pet health, and emerging technologies. Notable developments included continued expansion of Hydreight Technologies' healthcare platform, progress at Insu Therapeutics' buccal peptide delivery program, and the launch of Pawsible Ventures' pet-health platform initiatives.
Q1 2026 Financial Highlights
-- Revenue increased to $24.9 million, compared to $4.5 million in Q1 2025.
-- Gross profit increased to $5.1 million, compared to $1.5 million in the
prior-year period.
-- Net income totaled approximately $3.9 million.
-- Cash & Marketable Securities increased to approximately $31 million at
March 31, 2026.
-- The Company exited the quarter with a strengthened liquidity position and
increased financial flexibility.
The Company's financial performance continues to be driven primarily by the growth and scale of Hydreight Technologies Inc., Victory Square's largest operating subsidiary and core healthcare infrastructure platform.
Hydreight Technologies Update
Hydreight Technologies (TSXV: NURS) is Victory Square's largest operating subsidiary.
Hydreight operates a healthcare platform that provides physician coverage, pharmacy relationships, compliance frameworks, and telehealth enablement capabilities across all 50 U.S. states.
Recent developments included:
-- Revenue growth and profitability -- Growth in the VSDHOne platform to more than 12,000 licenses -- Completion of a $15 million financing -- Launch of a Normal Course Issuer Bid (NCIB)
VSDHOne supports healthcare entrepreneurs, clinics, healthcare brands, and operators through physician coverage, compliance infrastructure, pharmacy fulfillment, and telehealth capabilities.
Insu Therapeutics Update
Insu Therapeutics is a clinical-stage biotechnology company developing a patented buccal delivery platform for peptide-based therapeutics.
The Company's research initially focused on evaluating the buccal delivery of insulin, which inspired the name "Insu Therapeutics." Building on that work, the Company has expanded its research to include semaglutide, a peptide-based therapy currently used in the treatment of obesity and diabetes.
Many peptide-based therapies continue to rely on injection-based administration. Insu's platform is designed to evaluate an alternative delivery approach through a patented buccal delivery system engineered to:
-- Absorb peptides through the buccal mucosa (inner cheek) -- Bypass gastrointestinal degradation -- Avoid first-pass liver metabolism -- Protect active pharmaceutical ingredients from salivary loss
Unlike traditional oral tablets that rely on gastrointestinal absorption, buccal delivery utilizes a different route of administration designed to deliver molecules through the buccal mucosa.
Importantly, Insu is not developing a new peptide molecule. The Company's research is focused on evaluating its delivery platform using existing peptide therapies, including semaglutide.
During the quarter, Insu announced completion of Phase I preclinical studies evaluating its buccal semaglutide program and received Research Ethics Board approval from the University of British Columbia to initiate Phase II studies.
The studies utilize innovator-manufactured semaglutide and are designed to evaluate pharmacokinetics, systemic exposure, and performance under chronic administration.
Insu's intellectual property and research programs are focused on peptide delivery technologies and are supported by research conducted at the University of British Columbia.
Pawsible Ventures Update
During its first year of operations, Pawsible Ventures evaluated several hundred companies globally and launched its inaugural cohort focused on veterinary diagnostics, AI-enabled care, preventative health, therapeutics, and veterinary operations.
According to third-party industry research, the global pet care market exceeds US$270 billion annually and is projected to approach US$500 billion over the next decade. Growth in the sector has been supported by rising pet ownership, increasing veterinary spending, preventative healthcare adoption, and continued investment in pet health and wellness.
To address this opportunity, Pawsible launched:
-- A dedicated pet-health venture platform
-- A $10 million investment fund
-- A venture studio
-- A pet-health incubator
-- A global advisory board comprised of veterinary, healthcare, technology,
and industry leaders
The platform recently announced its inaugural cohort of companies focused on veterinary diagnostics, AI-enabled care, preventative health, veterinary infrastructure, therapeutics, and consumer wellness.
"Q1 2026 was an active quarter across several areas of the portfolio," said Shafin Diamond Tejani, Chairman and Chief Executive Officer of Victory Square Technologies.
"Hydreight continued to expand its healthcare platform, Insu advanced its semaglutide delivery studies, and Pawsible launched several new initiatives focused on pet health innovation.
Over the past several years, we have focused on supporting businesses operating in large and evolving markets, particularly where infrastructure, technology, and execution can create long-term competitive advantages. During the quarter, we continued to see progress across multiple portfolio companies as they advanced their respective operating and development milestones.
Victory Square remains focused on supporting founders, allocating capital prudently, and helping portfolio companies execute on their growth objectives. We believe the combination of healthcare infrastructure, emerging technologies, and diversified portfolio exposure continues to position the Company to participate in multiple sectors undergoing significant change and innovation."
Looking Ahead
Management remains focused on:
-- Supporting Hydreight Technologies' operational growth initiatives and
platform expansion
-- Advancing Insu Therapeutics' development programs and research milestones
-- Expanding Pawsible Ventures' pet health platform initiatives
-- Supporting portfolio company execution across key sectors
-- Evaluating monetization opportunities where appropriate
-- Disciplined capital allocation
The Company continues to evaluate opportunities that can leverage infrastructure developed across its healthcare ecosystem, including physician networks, pharmacy relationships, compliance frameworks, technology platforms, and patient access capabilities.
Victory Square's healthcare ecosystem includes infrastructure supporting telehealth, pharmacy fulfillment, diagnostics, wellness programs, healthcare enablement, and therapeutic delivery technologies. The Company believes this infrastructure may provide opportunities to support the development, acquisition, and growth of businesses operating within the broader healthcare sector.
Victory Square remains focused on supporting portfolio companies as they execute on their operating objectives while maintaining a disciplined approach to capital allocation and long-term portfolio development.
Upcoming Victory Square Webinar
Victory Square Technologies will host a live webinar to discuss its Q1 2026 financial results, provide a portfolio update, and discuss key developments across the Company's investments and operating businesses.
Date: Tuesday, June 9, 2026
Time: 1:15 p.m. PST -- 2:00 p.m. PST (4:15 p.m. EST -- 5:00 p.m. EST)
Webcast Registration:https://us06web.zoom.us/webinar/register/WN_yQ4femuMTbOXwkeA5cKVKw
Shareholders are encouraged to submit questions in advance to IR@victorysquare.com. Management will address as many shareholder questions as possible during the live webinar.
A replay of the webinar will be made available following the event.
On behalf of the Board of Directors,
Shafin Diamond Tejani
Chairman & CEO
Victory Square Technologies Inc.
www.victorysquare.com
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square Technologies Inc. is a publicly traded company that invests in, develops, and supports businesses operating across healthcare infrastructure, digital health, artificial intelligence, immersive technologies, and other emerging sectors.
The Company maintains a portfolio of operating and development-stage businesses, with a particular focus on healthcare infrastructure, software platforms, and technology-enabled services.
Portfolio sectors include:
-- Digital Health & Healthcare Infrastructure -- Artificial Intelligence (AI) & Machine Learning -- Blockchain & Web3 Infrastructure -- Virtual & Augmented Reality (VR/AR) -- Gaming & Interactive Technologies -- Climate Technology -- Pet Health & Wellness
Victory Square provides portfolio companies with access to capital, operational support, strategic guidance, and industry relationships to assist in their development and growth.
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