Cheelcare Announces Second Quarter Fiscal 2026 Financial Results

Markham, Ontario–(Newsfile Corp. – December 30, 2025) – Cheelcare Inc. (TSXV: CHER) (“Cheelcare” or the “Company”), a Canadian innovator in advanced mobility solutions, today announced its financial results for the second quarter ended October 31, 2025. All figures are in Canadian dollars unless otherwise noted.

Operational Highlights (Three Months Ended October 31, 2025)

Manufacturing transition completed: Successfully completed the transition of inventory, equipment, and production lines into the Company’s new approximately 16,000 sq. ft. manufacturing facility, with operations commencing in late October 2025.

Production systems implemented: Advanced manufacturing and assembly processes informed by Toyota Production System (TPS) principles, supported by operational guidance received through the Company’s participation in the Mobility Unlimited Hub program.

Manufacturing readiness advanced: Established production workflows and in-house assembly processes at the new facility to support pilot production and future scale-up.

Curio pilot production: Commenced pilot production of the Curio robotic complex rehabilitation wheelchair to support validation activities, process optimization, and initial commercial deployment.

Product enhancements: Launched an updated version of the Companion product during the quarter, incorporating new features and configuration options designed to improve usability, simplify maintenance, and respond to customer feedback.

Commercial footprint expanded: Continued expansion of the dealer and distribution network, with over 500 dealer locations globally as of October 2025, including more than 20 U.S. Veterans Affairs Medical Centers carrying Cheelcare products.

Organizational scaling: Continued to expand operational, manufacturing, and commercialization teams to support increased production capacity and market development.

Financial Highlights (Three Months Ended October 31, 2025)

• Gross revenue of $459,158, compared to $510,673 in Q2 2024.
• Net revenue of $391,939, compared to $431,277 in Q2 2024.
• Gross profit of $228,141, compared to $270,900 in the comparable prior-year period, with gross margin of approximately 58%.
• Net loss and comprehensive loss of $(547,451), or $(0.03) per share, compared to $(34,060), or $(0.00) per share in Q2 2024.
• Adjusted EBITDA loss of $(481,857) for the three months ended October 31, 2025.
• Cash and cash equivalents of $848,605 and working capital of $1,027,139 at October 31, 2025.

Executive Commentary

“This quarter was about building the operational and regulatory foundation required for scale,” said Eugene Cherny, CEO. “With our new facility operational, a larger technical team in place, and Curio now entering early commercialization, Cheelcare is positioned to convert regulatory milestones into meaningful revenue growth.”

Curio Regulatory & Reimbursement Update

Ontario ADP: Submitted for approval to the Assistive Devices Program (Ontario) and under review.

U.S. FDA 510(k): FDA 510(k) pre-market notification process in progress.

U.S. Reimbursement (HCPCS): Submitted the Companion product for Healthcare Common Procedure Coding System (HCPCS) review in the United States, which, if granted, would establish a pathway for reimbursement under U.S. healthcare programs.

About Cheelcare Inc.

Cheelcare designs and manufactures innovative mobility solutions that empower independence for people with disabilities. From the Companion power assist devices to the groundbreaking Curio robotic wheelchair, Cheelcare combines engineering excellence with human-centered design to improve quality of life.

For more information, please visit: www.cheelcare.ca.

This news release may contain forward-looking statements. Forward-looking statements are based on current expectations and involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those expressed or implied. Such factors include, but are not limited to, general economic conditions, market demand, supply chain disruptions, and regulatory approvals. Any forward-looking statements are made as of the date of this news release, and the Company does not undertake to update any forward-looking statements except in accordance with applicable securities laws.

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

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