Progressive Planet Solutions Inc (PLAN) AI Stock Analysis

• Market Cap: C$34.70M
• Dividend Yield: N/A
• Average Volume (3M): 126.53K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.16
• Revenue Growth: 4.44%
• EPS Growth: 156.52%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.01
• Shares Outstanding: 110,151,940
• 10 Day Avg. Volume: 112,227
• 30 Day Avg. Volume: 126,525
• PEG Ratio: -0.02
• Price to Book (P/B): 1.27
• Price to Sales (P/S): 0.94
• P/FCF Ratio: 4.50
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: C$0.34 ▼(-0.59% Downside)
• Action: Downgraded Date: 03/14/26
• Date: Action: Downgraded 03/14/26

The score is driven primarily by improved financial performance (profitability inflection and sharply reduced debt), tempered by unstable cash conversion with negative free cash flow. Technical signals are currently soft (negative MACD, sub-50 RSI, below the 50-day average), while valuation is supportive with a low P/E.

Positive Factors

Profitability turnaround

The company moved from multi-year losses to a clear TTM profitability inflection with improved gross and net margins. Durable earnings reduce the need for emergency financing, support reinvestment, and provide a stronger base for sustaining operations and strategic growth over the next 2–6 months.

Material deleveraging

Significant reduction in absolute debt and more moderate debt-to-equity improves solvency and financial flexibility. With equity (~15.9M) and assets (~27.6M) still sizeable, lower leverage materially reduces default risk and enhances capacity to fund capex or absorb shocks without immediate external capital.

Sustained revenue growth

Top-line growth to ~21.3M and positive revenue momentum indicate continued demand for the company's sustainable materials. Consistent revenue expansion supports economies of scale, potential margin improvement, and a firmer foundation for medium-term operating profitability and strategic investments.

Negative Factors

Negative free cash flow

FCF turning sharply negative after previously being strongly positive suggests heavier reinvestment or working-capital strain. If negative FCF persists, the firm may need external funding, which could dilute stakeholders or constrain near-term strategic spending and debt reduction plans.

Unstable cash conversion

Although operating cash flow exceeds net income, cash generation is inconsistent and conversion to free cash is weak. This volatility undermines the reliability of reported profits to fund operations, capital needs, or further deleveraging without recurring external support.

Operating profit pressure

Softening operating profit despite higher revenue points to cost pressure or adverse mix, threatening margin durability. Coupled with a prior history of negative margins, this raises the risk that recent profitability could be volatile if input costs, pricing, or product mix trends reverse.

Progressive Planet Solutions Inc Business Overview & Revenue Model

Company Description

Progressive Planet Solutions Inc., together with its subsidiaries, engages in the acquisition and exploration of mineral properties in Canada. It primarily explores for natural pozzolan deposits. The company holds 100% interest in the Z1 Zeolite mine located 3 kms northeast of Cache Creek, British Columbia; and the Z3 Heffley property situated in Heffley Creek, British Columbia. It also holds interests in Z2 Zeolite property located near Falkland, British Columbia. In addition, the company is involved in converting post-consumer glass into a low carbon cement; manufacture of mineral based products derived from diatomaceous earth, zeolite, and bentonite for use in agricultural, industrial, and consumer applications; and developing solutions for sequestering CO2 and minimizing the carbon footprint. Further, it manufactures industrial minerals, which include industrial absorbents under the CanDry brand; cat litters under the WunderCat brand for retailers; and animal husbandry/agtech products that neutralizes ammonia in chicken barns and enables the birds to breathe easier under the Activated Barn Fresh brand. Progressive Planet Solutions Inc. was incorporated in 2006 and is headquartered in Kamloops, Canada.

How the Company Makes Money

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Progressive Planet Solutions Inc Financial Statement Overview

Summary

Strong profitability turnaround in the TTM period with improved margins and materially lower debt, but free cash flow has turned negative recently and cash generation is less stable than reported earnings.

Income Statement

TTM (Trailing-Twelve-Months) results show a clear profitability inflection: revenue rose to ~21.3M with positive growth, while gross margin improved versus prior annual periods and net margin strengthened materially. The company has moved from sizable losses in 2022–2024 to solid profitability in 2025 and an even stronger TTM (Trailing-Twelve-Months). Key weakness: operating profit softened versus 2025 even as revenue rose, suggesting cost pressure or mix shift, and the longer-term history includes meaningfully negative margins in earlier years.

Balance Sheet

Leverage has improved significantly: total debt fell from ~7.8M (2025) to ~1.9M in TTM (Trailing-Twelve-Months), and debt relative to equity is now moderate. Equity remains healthy (~15.9M) against ~27.6M of assets, and returns on equity improved strongly in TTM (Trailing-Twelve-Months). Main risk: the company carried higher leverage in prior years (including debt exceeding equity in 2022–2023), so the balance sheet strength is improved but still needs to be proven durable across cycles.

Cash Flow

Operating cash flow is positive in TTM (Trailing-Twelve-Months) (~3.6M) and supports reported earnings (operating cash flow is more than 2x net income), which is a quality positive. However, free cash flow swung sharply negative in TTM (Trailing-Twelve-Months) (~-1.9M) after being strongly positive in 2025, indicating heavier reinvestment and/or working-capital drag. Overall cash generation looks less stable than profits, and free cash flow conversion is currently weak.

Breakdown	TTM	Jul 2025	Jul 2023	Jul 2022	Jul 2021	Apr 2020
Income Statement
Total Revenue	21.29M	19.52M	19.63M	19.54M	0.00	0.00
Gross Profit	7.19M	6.06M	6.01M	5.13M	-152.00K	-50.70K
EBITDA	4.46M	3.22M	1.35M	308.26K	-2.50M	-727.00K
Net Income	2.06M	1.67M	-393.00K	-1.16M	-2.39M	-1.72M
Balance Sheet
Total Assets	27.60M	27.98M	26.31M	26.83M	4.26M	1.82M
Cash, Cash Equivalents and Short-Term Investments	2.15M	5.43M	1.69M	704.55K	1.34M	239.25K
Total Debt	7.41M	7.84M	9.07M	9.21M	425.81K	189.40K
Total Liabilities	11.70M	13.60M	13.31M	14.08M	678.70K	373.55K
Stockholders Equity	15.90M	14.38M	13.00M	12.75M	3.58M	1.44M
Cash Flow
Free Cash Flow	-1.90M	4.06M	1.74M	-170.99K	-1.91M	-833.18K
Operating Cash Flow	3.56M	5.10M	2.57M	1.61M	-899.47K	-600.20K
Investing Cash Flow	-5.31M	-93.28K	-586.95K	-1.65M	-887.81K	-53.15K
Financing Cash Flow	-929.56K	-1.26M	-1.00M	-1.03M	3.02M	502.22K

Progressive Planet Solutions Inc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.34
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PLAN, the sentiment is Negative. The current price of 0.34 is above the 20-day moving average (MA) of 0.33, below the 50-day MA of 0.35, and above the 200-day MA of 0.29, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 44.60 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:PLAN.

Progressive Planet Solutions Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
PLAN	61 Neutral	C$34.70M	-9.85	12.97%	―	4.44%	156.52%
LBNK	53 Neutral	C$34.81M	-14.37	-123.28%	―	―	-692.49%
GSP	50 Neutral	C$67.61M	-15.22	-29.75%	―	―	35.92%
EMM	49 Neutral	C$21.79M	-2.15	-27.31%	―	―	41.07%
GRDM	45 Neutral	C$25.63M	-47.45	-194.10%	―	―	78.09%
FMS	42 Neutral	C$34.10M	-15.55	-16.33%	―	―	-64.76%

Progressive Planet Solutions Inc Corporate Events

Progressive Planet Posts Record Q3 Revenue but Takes One-Time Charges to Fund Growth

Progressive Planet reported record third-quarter revenue of $5.82 million, up 22% year over year, and a 47% increase in gross profit with margins rising to 34%, marking its strongest Q3 since acquiring Absorbent Products. Despite a swing to negative EBITDA due to one-time charges, the company’s adjusted EBITDA climbed 46% and it retains over $3 million in unused credit plus cash reserves.

The quarter’s earnings were weighed down by a strategic slotting fee to secure placement of three new SKUs across more than 2,400 U.S. retail locations and by a write-down of its Z1 Zeolite Quarry, reflecting a shift to superior SCM and soil-amendment assets. Progressive Planet also accelerated investment in its PozGlass SCM pilot plant and Planet LCD Cement development and has since received over $1.38 million in government grant funding, underscoring its push to scale low-carbon cement technologies.

The most recent analyst rating on (TSE:PLAN) stock is a Hold with a C$0.40 price target. To see the full list of analyst forecasts on Progressive Planet Solutions Inc stock, see the TSE:PLAN Stock Forecast page.

Progressive Planet Unveils Low-Carbon LCD Cement and Expands R&D Capabilities

Progressive Planet has developed Planet LCD Cement, a new limestone-calcined diatomite cement that replaces up to 50% of Portland cement while meeting ASTM C618 compressive strength standards. Using abundant and low-cost waste diatomaceous earth instead of metakaolin, the product is designed as a scalable, higher-reactivity alternative to conventional formulations, with trademark and patent protection underway in North America.

The company is opening its C-Quester Centre of Sustainable Solutions in Calgary, which will focus on advancing Planet LCD Cement formulations, developing a dedicated plasticizer, and expanding Gladiator SCM, as well as offering third-party testing as a future profit centre. Its Kamloops lab remains focused on PozGlass SCM quality control and nanoparticle-based additives, while the Phase 1 PozGlass pilot plant has all major components installed, marking continued progress toward commercialization and potential new revenue streams.

The most recent analyst rating on (TSE:PLAN) stock is a Hold with a C$0.40 price target. To see the full list of analyst forecasts on Progressive Planet Solutions Inc stock, see the TSE:PLAN Stock Forecast page.

Progressive Planet Lifts Q2 Profit, Grows Backlog as It Installs Robotic Palletizer and Exits Zeolite Lease

Progressive Planet reported a rise in second-quarter net income to $971,895 and a 60% increase in EBITDA to $1.45 million, despite a 9.2% year-over-year decline in Q2 revenue to $5.0 million, as a planned shutdown of three of four production lines for installation of a new robotic palletizer shifted some sales into the third quarter. The company ended the quarter with a 238% increase in order backlog to $1.39 million, driven in part by record October purchase orders exceeding $2.7 million and the introduction of two new Pure DE SKUs into the U.S. market, while noting agricultural sales rebounded strongly in Q3 and confirming no further shutdowns this quarter. Management also decided not to renew the lease on the Z1 Zeolite Quarry, citing superior assets acquired through recent transactions and signalling a strategic shift toward higher-quality resources; the move will trigger a $1.21 million asset write-down in Q3 but reflects an ongoing optimization of the company’s asset base and product mix.

The most recent analyst rating on (TSE:PLAN) stock is a Buy with a C$0.34 price target. To see the full list of analyst forecasts on Progressive Planet Solutions Inc stock, see the TSE:PLAN Stock Forecast page.