We are entering one of the four busiest earning seasons for small caps, and the first one of 2026. The majority of companies fiscal calendars match the Gregorian variety and due to the extra reporting time allowed on the Venture and CSE, we get the first look of their annual financials in mid to late April. That is quickly followed by Q1’s in May, Q2’s in August and their Q3’s in November.
The trend of these monthly articles have been on the bearish side, citing more Danger Zone stocks than ones Buy Zones. Unfortunately for those who follow and invest in microcaps, it has played out that way too. Therefore I’m happy to report that trend reverses in this April edition with twice as many Buy Zones than Danger Zones.
Before we get into what I’m watching over the next thirty days or so, I always like to look back on what I said last month.
Auxly Cannabis (XLY.TO) was one of only two Buy Zone calls last month. While I have plenty of issues on Auxly which will prevent me from ever becoming long, I did like this for a trade and the stock is up 21% since last months article.
Neupath Health (NPTH.V) was the other Buy Zone from March and I went two for two. It gained as much as 42% post earnings. I personally swung and closed this position already. I’d do it again at the right price.
Pyrogenesis (PYR.TO) was an easy Danger Zone call after the stock made a big run earlier this year. It’s Pyrogenesis after all and they make pyromaniacs jealous at their ability to burn cash. It’s down 28% since earnings.
Healwell AI (AIDX.TO) is another historical burner of cash that decreased as much as 23% post earnings.
Draganfly (DPRO) dropped as much as 38% since last months article but has nearly fought all the way back
Adcore (ADCO.TO) I wasn’t ready to call out a Buy Zone for them but I did state that I felt they were worth more than their $7.3M market cap. I told readers to wait until after their tough Q4 comps. Even though they missed badly on the bottom line they were able to better last years tough revenue numbers by 6% which sent the stock 55% higher.
iFabric (IFA.TO) The 2026 Wolf Pick issued incredible Q1 guidance within minutes of last months article. It’s up 86% since last month and 173% since making it a Wolf Pick.
This month I’ll be previewing the earnings of the following fifteen companies, nine of which are current or former Wolf Picks:
Happy Belly Food Group
Pharmacorp RX
Biorem
Emerge Commerce
Atlas Engineered Products
ZoomD Technologies
NTG Clarity
Thermal Energy Group
Gatekeeper Systems
CanPR Technology
BeWhere Holdings
Omni-Lite Industries
McCoy Global
iFabric
Northstar Gaming