Edgewater Wireless Reports First Quarter Fiscal 2027 Financial and Operating Results Highlighting Execution and Momentum

September 29, 2026 — Leads & Copy — Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), a pioneer in AI-powered Wi-Fi Spectrum Slicing™ silicon solutions and IP, announced its financial and operating results for the first quarter ended July 31, 2026. The company highlighted continued semiconductor execution, strategic financing, and expanded engagement across broadband, semiconductor, and high-reliability markets.

President and CEO Andrew Skafel stated that fiscal year 2027 is increasingly focused on execution. During the quarter, Edgewater strengthened its semiconductor development program, added technical expertise, advanced its PrismIQ™ architecture, and broadened engagement in traditional Wi-Fi and high-reliability wireless markets. Since the quarter's end, this momentum has been sustained through additional financing, government-backed prototype support, and an active customer and strategic-partner demonstration program.

Financially, Edgewater ended the quarter with $144,727 in cash, an increase from $53,760 on April 30, 2026. Total current assets rose to $335,039 from $214,038. For the three months ended July 31, 2026, the Company reported a net loss of $405,443, or $0.002 per share, compared to a net loss of $359,956, or $0.002 per share, in the prior-year period. No revenue was recorded during the quarter, aligning with the Company's current development and commercialization stage.

Cash used in operating activities decreased significantly to $298,985 from $516,933 in the prior-year quarter, representing a reduction of approximately 42%. Financing activities provided net cash of $389,952 during the quarter. Edgewater completed a private placement of 7,155,879 units at $0.06 per unit, raising gross proceeds of $429,353. The Company also recognized $32,304 of FABrIC program funding as other income and recorded a grant receivable of $50,782 on July 31, 2026.

During the first quarter, Edgewater continued to advance its PrismIQ™ and Spectrum Slicing™ roadmap. This included initiating a detailed architecture and design review leveraging expertise in Wi-Fi silicon architecture, communications theory, RF and baseband design, and semiconductor commercialization, intended to support waveform generation, prototype validation, and partner demonstrations.

The Company also expanded its Spectrum Slicing™ intellectual-property portfolio by publishing UK patent application GB2644396, which relates to determining and utilizing multiple in-band channels. Furthermore, Edgewater strengthened its semiconductor advisory team with the appointment of Dave Dwelley, who brings extensive analog, mixed-signal, and power semiconductor expertise from senior roles at Linear Technology and Maxim Integrated.

Momentum has continued post-quarter-end. Edgewater closed an additional private placement tranche with gross proceeds of $287,980, including participation from Silicon Catalyst Angels I, LLC, bringing the total gross proceeds from the June and September tranches to approximately $717,333. The Company received approval for up to $20,000 under the OVIN Semiconductor Voucher Program to support eligible technical services for its FPGA-based Spectrum Slicing™ prototype program, contingent upon defined project milestones.

Edgewater also expanded engagement with semiconductor, broadband, and strategic ecosystem participants at the GlobalFoundries Technology Summit and the invitation-only RDK Global Summit. Plans for its PrismIQ™ FPGA implementation and customer demonstration platform were advanced with engineering support from Fidus Systems, facilitating over-the-air testing and evaluation in anticipation of production silicon.

Skafel noted the shift from architecture and ecosystem development towards more tangible prototype, demonstration, and customer-evaluation activities. He emphasized that with support from strategic semiconductor investors, government-backed development programs, and experienced technical advisors, Edgewater is building a strong foundation to translate Spectrum Slicing into scalable silicon and commercial opportunities.

The Company's unaudited condensed interim consolidated financial statements and Management Discussion and Analysis for the three months ended July 31, 2026, will be available on SEDAR+ under Edgewater Wireless Systems Inc.'s profile. The financial statements were prepared by management and are unaudited.

Edgewater’s patented, AI-powered Wi-Fi Spectrum Slicing™ platform, delivered through the PrismIQ™ product family, allows for multiple concurrent channels within a single Wi-Fi band to enhance spectrum utilization, reliability, latency, and Quality of Service in congested environments. PrismIQ™ is Edgewater’s Wi-Fi 8-ready silicon solutions platform aimed at residential, enterprise, Industrial IoT, and high-reliability wireless applications. Edgewater holds 26 granted patents, has three AI-related patent applications pending, and operates a capital-efficient fabless model to develop scalable silicon, IP, and reference solutions for next-generation wireless connectivity. Edgewater is a Silicon Catalyst portfolio company.

Source: Edgewater Wireless