Netcapital 2026 Q1 Earnings Mixed Results with 33.6% Revenue Growth

Netcapital reported a 33.6% year-over-year revenue increase for Q1 2026, but the company’s net loss widened to $-3.64 million from $-2.53 million in the same period last year. The earnings call highlighted strategic progress in blockchain integration and fintech expansion, though the company remains unprofitable and provided no forward guidance.

Revenue
Netcapital’s total revenue surged 33.6% year-over-year to $190,058 in Q1 2026, driven by strong performance across multiple segments. Portal fees alone accounted for $122,728, representing a major contributor to the company’s top-line growth. Additionally, Portal 1% equity fees added $62,195 to the revenue mix, while listing fees and game website revenue contributed $5,000 and $135, respectively. These figures reflect a broad-based increase in service and equity-driven income streams.

Earnings/Net Income
Netcapital narrowed its per-share loss to $1.27 in Q1 2026 from $5.10 in Q1 2025, representing a 75.1% improvement. However, the company’s net loss actually increased to $-3.64 million, a 44.1% year-over-year rise from $-2.53 million, underscoring continued operational challenges.

Price Action
The stock price of Netcapital edged down 1.65% during the latest trading day, but showed resilience with a 2.14% gain during the most recent full trading week and a strong 18.91% increase month-to-date.

Post-Earnings Price Action Review
Following the release of Q1 earnings, Netcapital’s stock has shown a mixed performance. Although the price dipped slightly in the last 24 hours, the broader weekly and monthly trends indicate positive investor sentiment. The stock’s month-to-date gain of 18.91% suggests that market participants are responding favorably to the company’s long-term strategy, particularly its blockchain integration and fintech ambitions. The volatility, however, reflects ongoing uncertainty around the company’s profitability and ability to scale.

CEO Commentary
Martin Kay, CEO of Netcapital, emphasized the significance of the company’s 30%+ revenue growth as a positive start to fiscal 2026. He outlined key strategic moves, including the formation of a Crypto Advisory Board and the integration of blockchain, digital assets, and crypto with traditional finance. Kay expressed optimism about the company’s trajectory and the execution of its long-term vision, despite ongoing operating losses.

Guidance
Netcapital did not provide specific forward-looking revenue or earnings guidance in its Q1 report. The company reiterated its strategic focus on scaling the business, integrating blockchain technologies, and expanding in the fintech and DeFi spaces. As with all forward-looking statements, the company cautions that actual results may differ materially due to known and unknown risks.

Additional News
On August 12, 2025, Netcapital Inc. announced its full-year fiscal 2025 financial results, reporting revenues of $869,460 for the year ended April 30, 2025, compared to $4,951,435 in fiscal 2024. The decline was attributed primarily to reduced consulting services. The company recorded an operating loss of ($8,321,317), significantly wider than the ($3,442,388) loss in the prior year. A non-cash impairment charge of $19.9 million further contributed to a net loss per share of ($20.39), an improvement from ($28.83) in fiscal 2024. Management highlighted a strategic shift to build a more scalable and sustainable business and secured a broker-dealer license, aiming to expand its reach in private capital markets. An earnings call was hosted on August 13, 2025, to discuss these results in detail.