VivoPower Reports Unaudited First Quarter Fiscal Year 2027
Revenue of US$6.5 million, or 95.5% generated from the data center in Mo i Rana, Norway
Net profit of US$0.6 million, compared with a net loss of US$7.4 million in Q1 FY2026
EBITDA of US$0.8 million versus EBITDA loss of US$5.5 million in Q1 FY2026
Positive operating cash flow of US$2.1 million
LONDON, UK, Nov. 04, 2026 (GLOBE NEWSWIRE) -- VivoPower PLC (Nasdaq: VIVO) (“VivoPower” or the “Company”), a leading B Corp-certified global developer and owner of powered land and data center infrastructure today announced its unaudited financial results for the first quarter of fiscal year 2027, being the three months ended September 30, 2026 (“Q1 FY2027”).
Q1 FY2027 Financial Highlights
Revenue for the quarter was US$6.8 million, compared with no revenue in Q1 FY2026. The data center business at Mo i Rana, Norway, accounted for US$6.5 million, or 95.5% of total revenue. The electric vehicles business (Tembo) represented the balance with revenues of US$0.3 million as a result of the first batch of vehicle fleet deliveries completed during the quarter.
Gross profit for the quarter was US$2.5 million, representing a gross margin of 37.4%. This was primarily contributed from the Mo i Rana data center, with a combination of bitcoin mining hosting revenues as well as demand response revenues.
The Company recorded a net profit of US$0.6 million for the quarter, compared with a net loss of US$7.4 million in Q1 FY2026.
VivoPower generated positive EBITDA of US$0.8 million during the quarter, compared with negative EBITDA of US$5.5 million in Q1 FY2026.
General and administrative expenses for the quarter decreased by 69% to US$1.7 million, compared with US$5.5 million in Q1 FY2026, notwithstanding a significant scale-up in activities with the data center business. This reflects the Company executing on an AI-native strategy across various support functions, in order to be able to scale productively.
Net cash generated from operating activities was US$2.1 million for the quarter, compared with a net cash outflow of US$2.8 million in Q1 FY2026.
Q1 FY2027 Corporate and Recent Highlights
Secured a US$50.0 million PIPE convertible preference share financing of which US$17.5 million has been received in cash, US$16.5 million was satisfied by the exchange of AWN shareholder loan principal, with the balance subject to completion of customary bank KYC approvals (July 2026).
Appointed a Group Finance Director with experience in every market that the Group Operates globally in order to strength the Company’s finance function (July 2026).
Retired US$28.8 million of AWN shareholder loan principal, of which US$12.3 million was repaid in cash and US$16.5 million was exchanged for convertible preference shares. Approximately US$16 million of outstanding accrued interest is non-interest bearing, classified as an unsecured trade creditor and is allocated to the balance sheet of Tembo (but at this stage still consolidated under VivoPower).
Board approved the establishment of a separate Singapore-headquartered AI infrastructure company to hold 2.2GW non-Nordic portfolio and pipeline, with a planned pre-IPO funding round and independent listing, while retaining de facto control (August 2026).
Decided (post quarter end) not to pursue a lease with the tenant announced as preferred on June 29, 2026, given better offers presented in a rising rent market for Nordic powered land. The Group is working to finalize definitive terms with another prospective AI tenant for Mo i Rana and is concurrently progressing project-level financing discussions. (October 2026).
Summary Income Statement: Three months ended September 30, 2026
US$’000 (unaudited) Q1 FY2027 Q1 FY2026 Change
Revenue 6,767 - n.m.
Cost of sales (4,236 ) - n.m.
Gross profit 2,531 - n.m.
Gross margin 37.4 % - n.m.
General and administrative expenses (1,737 ) (5,525 ) (69 %)
Other income, net 19 54 (65 %)
EBITDA (non-IFRS) 812 (5,471 ) n.m.
Profit/(Loss) for the period 577 (7,375 ) n.m.
Figures may not sum due to rounding. n.m. = not meaningful.
Revenue by Business Unit: three months ended September 30, 2026
US$’000 (unaudited) Q1 FY2027 Q1 FY2026 Change
Data centers – Mo i Rana, Norway 6,461 - n.m.
Electric vehicles (Tembo) 306 - n.m.
Total revenue 6,767 - n.m.
Figures may not sum due to rounding. n.m. = not meaningful.
Basis of Preparation
The financial information in this press release is unaudited and has been derived from the Company’s management accounts for the three months ended September 30, 2026, and the comparative three months ended September 30, 2025. It has not been reviewed or audited by the Company’s independent auditors and may be subject to change.
Non-IFRS Financial Measures
This press release includes EBITDA, which is not a measure defined under International Financial Reporting Standards (“IFRS”). VivoPower defines EBITDA as profit/loss for the period before net interest expense, income tax, depreciation and amortization. Management believes this measure helps investors compare operating performance before the effects of financing, taxation and depreciation and amortization. EBITDA is not a measure of cash flow or liquidity. EBITDA should not be considered in isolation or as a substitute for measures prepared under IFRS and may not be comparable to similarly titled measures used by other companies. A reconciliation of EBITDA to profit/loss for the period, the most directly comparable IFRS measure, is set out below.
Reconciliation of Profit/Loss for the period to EBITDA: three months ended September 30, 2026
US$’000 (unaudited) Q1 FY2027 Q1 FY2026
Profit/(Loss) for the period 577 (7,375 )
Net interest expense - 1,721
Income tax - -
Depreciation and amortization 235 183
EBITDA (non-IFRS) 812 (5,471 )
Figures may not sum due to rounding.
About VivoPower