Karbon-X Reports $60.8 Million in Nine-Month Revenue and Files Q3 Form 10-Q

THINGS TO KNOW 21.04.2026

CALGARY, AB / ACCESS Newswire / April 21, 2026 / Karbon-X Corp. (OTCQX:KARX) ("Karbon-X" or the "Company"), a vertically integrated climate solutions company, today announced that it has filed its Quarterly Report on Form 10-Q for the nine months ended February 28, 2026.

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The filing reflects Karbon-X's continued expansion in global carbon markets, with year-to-date revenue of $60.8 million, a strengthened balance sheet, and a growing project pipeline, supported by increasing demand for high-integrity carbon solutions.

"Karbon-X has scaled significantly over the past twelve months, with nine-month revenue of $60.8 million reflecting strong commercial execution across our trading operations," said Chad Clovis, Chief Executive Officer of Karbon-X Corp.

"While Q3 trading volumes reflected expected variability in settlement timing across international markets, our underlying business continues to strengthen. We remain focused on disciplined growth across trading, project development, and digital infrastructure as we scale our position in the global carbon market."

Financial Highlights

Revenue increased from $1.5 million to $60.8 million (USD) compared to the same period in the prior year, a 3,872% increase, reflecting growth in global trading activity across compliance and voluntary carbon markets.
Gross profit of $774,589 (USD) for the nine-month period, compared to $702,086 in the same period in the prior year.
Liquidity strengthened, with ending cash balances increasing 476% from $704,346 at the start of the fiscal year to $4.1 million (USD) at quarter-end, supported by $5.4 million in new capital raised through convertible note issuances and equity transactions.
Total current assets reached $17.9 million (USD), compared to $5.8 million as of May 31, 2025, reflecting expansion in trading receivables, loan receivable, and carbon credit inventory.

Operational and Strategic Highlights

Completed a strategic carbon-offset project portfolio acquisition for $605,093, providing direct ownership of in-development carbon credit projects with estimated fair market value exceeding acquisition cost.
Expanded global carbon credit trading operations across multiple standards, including VCS, Gold Standard, ACR, and REDD+, supporting revenue diversification and a broader international counterparty base.
Advanced the Company's carbon project development pipeline, with multiple projects progressing toward verification milestones expected to generate future credit issuances.
Progressed development of the Company's digital carbon trading platform, enhancing transparency, traceability, and liquidity across the voluntary carbon market.
Strengthened financial and governance infrastructure, including continued build-out of reporting systems, internal controls, and audit readiness capabilities.

Demand for high-quality carbon credits continues to increase as regulatory and corporate requirements evolve globally. Compliance markets are tightening across key regions, while voluntary markets are seeing increased demand for verified, high-integrity supply.

Karbon-X's vertically integrated model, spanning project origination, trading, and digital infrastructure, positions the Company to participate across multiple segments of this growing market.

Karbon-X remains focused on disciplined growth, strategic execution, and long-term shareholder value as it continues to scale its operations.

The Company's unaudited consolidated financial statements and additional disclosures are included in the Quarterly Report on Form 10-Q.

About Karbon-X

Karbon-X Corp. (OTCQX: KARX) is a vertically integrated climate solutions company delivering end-to-end services across compliance and voluntary carbon markets. From project origination and emissions quantification to verification support, credit issuance, and market distribution, Karbon-X provides trusted, transparent climate solutions to businesses and institutions globally. For more information, visit www.karbon-x.com.

Forward-Looking Statements

This news release contains forward-looking statements, including but not limited to expectations related to Karbon-X Corp.'s financial performance, business strategy, growth plans, and market positioning. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Karbon-X assumes no obligation to update forward-looking statements except as required by law.

Media Contacts

Adriana Ebell
Interim CFO
Karbon-X
[email protected]

Emma Caputo
VP of Marketing
Karbon-X
[email protected]

SOURCE: Karbon-X Project Inc.

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A.Senn--NZN