Orbit Garant Drilling Inc. posted a record revenue of CA$57.2 million in Q4 2026, but it also reported a net loss of CA$1.9 million, highlighting some profitability challenges. The company secured a major contract in northern Canada that could bring in over CA$100 million, showing potential for growth despite current setbacks.
Orbit Garant Drilling Inc. (TSX: OGD) announced its financial results for Q4 2026 and the fiscal year ending June 30, 2026. While the company achieved record quarterly revenue, it faced a net loss due to rising costs and a non-cash expected credit loss. These results reflect both the challenges and opportunities in today’s mining sector.
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Orbit Garant Drilling Inc.
OGD.TO
OGD.TO
Orbit Garant Drilling Inc.
WealthAwesomeMarket cap
$48.10M
P/E
18.0x
52W high
$2.48
52W low
$1.05
1W change
+0.80%
Beta
1.14
Analyst Price Targets
Based on analyst covering OGD · as of Sep 17, 2026
Wall Street analysts forecast OGD stock price to rise 38.9% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$1.75
+38.9% Upside
Current Price
C$1.26
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on OGD's historical volatility
30-Day Vol
44.0%
Annualized
90-Day Vol
58.5%
Annualized
Trend (90d)
+24.0%
Annualized drift
90d Mean
C$1.37
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$1.30 | C$1.11 – C$1.51 |
| 60 trading days | C$1.33 | C$1.08 – C$1.65 |
| 90 trading days | C$1.37 | C$1.06 – C$1.79 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
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Investor takeaway: Even with short-term profitability issues, Orbit Garant's new contracts and revenue growth set it up for potential recovery in fiscal 2027.
Record Revenue Masked by Profitability Challenges
Orbit Garant's Q4 revenue of CA$57.2 million is a significant jump from CA$47.2 million in the same quarter last year. However, the company still reported a net loss of CA$1.9 million, which shows how rising costs and lower margins are affecting profitability.
Bull case
Strong revenue growth: Q4 revenue rose 21.3% year-over-year to CA$57.2 million, fueled by strong demand. Major contract secured: A new specialized drilling contract in northern Canada could generate over CA$100 million over five years. Improving pricing: Renegotiated contracts are expected to boost profitability moving forward.
Bear case
Net loss reported: The company posted a net loss of CA$1.9 million in Q4 2026, mainly due to rising costs and reduced productivity. Increased debt levels: The company’s debt climbed to CA$23.7 million as it financed new capital expenditures. Lower margins: Gross profit margins fell due to inflation in production costs and higher training expenses.
Revenue Growth Driven by Increased Demand
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Orbit Garant's revenue for Q4 2026 reached CA$57.2 million, a 21.3% increase from CA$47.2 million in Q4 2025. The Canadian segment contributed CA$39.4 million, up 16.8% year-over-year, reflecting increased drilling activity. However, this growth was partly offset by lower revenue per meter drilled on older contracts.
Profitability Challenges Amid Increased Costs
Despite the revenue growth, Orbit Garant reported a net loss of CA$1.9 million in Q4 2026, down from a profit of CA$2.2 million the previous year. The drop in profitability was due to higher training costs for new drillers, inflation in production costs, and a non-cash expected credit loss of CA$1.4 million.
Strategic Moves for Future Growth
The company secured a major drilling contract in northern Canada, expected to generate over CA$100 million over five years. This contract aligns with Orbit Garant's strategy to offer specialized services to well-financed mining companies, positioning the company for potential recovery as it renegotiates pricing on existing contracts.
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