Victory Square Technologies Reports Strong Revenue Growth and Profitability
Vancouver, BC, September 1, 2026 — Victory Square Technologies Inc., a venture builder focused on healthcare infrastructure, digital health, artificial intelligence, and emerging technology platforms, has announced robust financial results for the first half of 2026. The company's revenue surged by 434% year-over-year to $53.0 million, and it reported a net income of $6.5 million, up from a net loss of $0.1 million in the comparable period of 2025.
For the second quarter of 2026, Victory Square saw its revenue increase by 421% to $28.0 million, with a gross profit of $5.4 million, reflecting an 182% rise from the prior year. The company's net income for Q2 was $2.5 million, more than doubling from the $0.4 million reported in the same period in 2025. As of June 30, 2026, the company held $20.2 million in cash and $34.5 million in working capital, indicating strong financial health.
"We are pleased to report that the strong performance at the beginning of the year has continued into the second quarter," said Shafin Diamond Tejani, CEO of Victory Square Technologies. "Our portfolio companies are making significant strides, particularly Hydreight, which has been a key driver of our growth."
Hydreight Technologies Inc., a major subsidiary of Victory Square, reported Q2 revenue of $28.0 million, a 422% increase from $5.4 million in Q2 2025. The company generated $2.5 million in net income during the quarter. For the first half of 2026, Hydreight's revenue reached $53.0 million, a 434% increase from $9.9 million in the same period of 2025. Hydreight's pharmacy operations saw a substantial increase in revenue, growing to $26.2 million in Q2 2026 from $4.5 million in Q2 2025.
Insu Therapeutics, another portfolio company, made progress in advancing its buccal drug-delivery platform. The company completed Phase I preclinical studies and received Research Ethics Board approval to proceed with Phase II studies, focusing on evaluating the delivery of existing peptide therapies through the buccal mucosa.
Pawsible Ventures, the company's pet-health venture platform, launched a $10 million venture fund and a pet-health incubator in 2026. The inaugural cohort included eight companies, selected from a pool of global applicants, focusing on areas such as veterinary diagnostics and AI-enabled care.
Victory Square's venture-building strategy emphasizes identifying and supporting companies in large, evolving markets. The company is committed to expanding its healthcare infrastructure, digital health, artificial intelligence, and emerging technology platforms while maintaining disciplined capital allocation.
As the company looks forward to the second half of 2026, Tejani stated, "Our priorities include supporting Hydreight's continued growth, advancing our healthcare investments, and expanding our pet-health platform. We remain focused on executing our strategy and driving value for our stakeholders."
The full financial statements and Management's Discussion and Analysis for the first half of 2026 are available on SEDAR+, and readers are encouraged to review them for a comprehensive understanding of the company's financial position and performance.