Revenue Up 13%; Advertising Revenue Up 42%; Auditor’s Report Contains No Going-Concern

FreeCast, Inc. (NASDAQ:CAST) ("FreeCast" or the "Company") today provided additional detail regarding its fiscal 2026 results announced on September 29, 2026. The Company filed its first Annual Report on Form 10-K for the fiscal year ended June 30, 2026 with the U.S. Securities and Exchange Commission on September 28, 2026. Gross margin expanded to 82%, revenue rose 13%, and the company closed a private placement in July 2026 with approximately $23.7 million in gross proceeds and $22.3 million in aggregate net proceeds, of which approximately $14.0 million was received after June 30, 2026.

Supplemental Fiscal 2026 Financial Highlights

$0.71 million revenue, up 13%; fourth-quarter revenue of about $360,000⁽¹⁾, the strongest quarter of the year.
42% growth in advertising revenue, to $0.39 million.
82% gross margin, up from 45%.
As previously announced, the Company closed a private placement in July 2026 with approximately $23.7 million in gross proceeds and $22.3 million in aggregate net proceeds, of which approximately $14.0 million was received after June 30, 2026.
19% lower operating cash burn, to $10.0 million; operating expenses down 6%.
No going-concern paragraph in the auditor’s report, versus one in fiscal 2025.

Net loss was $13.0 million and cash used in operations was $10.0 million. While the Company has recurring losses and may need additional financing, management concluded that the July financing alleviates substantial doubt about its ability to continue as a going concern for at least one year from issuance of the financial statements.

"FreeCast is building the software layer designed to help our partners participate in what their customers watch, subscribe to and purchase," said William A. Mobley, Chief Executive Officer. "Going forward, our focus is execution — converting commercial relationships into deployments and deployments into activated users."

Previously Announced Fiscal 2026 Commercial Developments

Fiscal 2026 announcements included a relationship with a national streaming cable channels provider; agreements with Via One affiliates Assist Wireless and enTouch Wireless; a reseller agreement for Starlink Business services; an FPUAnet agreement covering a service footprint of more than 30,000 homes; an agreement with Florida fiber provider WIRE3; and the launch of its free streaming service in more than 25 Caribbean countries and territories.

According to its Form 10-K, FreeCast had 25 distribution partners as of June 2026 with a potential reach of about 31.2 million users, plus a 14-partner pipeline.⁽²⁾

Previously Announced Developments After Fiscal Year-End

FreeCast Cities and a local advertising strategy across 210 U.S. markets, announced in July.
Investor News Channel acquired; relaunch as a global FAST network targeted for November 2026.
Agreement to bring 28 Brazilian channels, expected to launch beginning in fall 2026.
NFL information destination launched at freecast.com/nfl in September.

These announced commercial relationships and initiatives are at varying stages of development and should not be interpreted as representing activated subscribers, guaranteed revenue or recognized revenue unless specifically stated in the Company’s SEC filings.

FreeCast intends to provide additional information regarding its commercial progress as deployments advance and operating metrics become available and appropriate for public disclosure.

(1) Unaudited; derived as fiscal-year amounts less nine-month amounts reported in the March 31, 2026 Form 10-Q.

(2) Potential customer reach is distinct from registered or active FreeCast users and does not represent a committed subscriber count or contracted revenue. Partner audiences may overlap, and the potential customer populations should not be added together without accounting for that overlap. Pipeline opportunities remain subject to agreement and implementation.

Annual Report

Investors are encouraged to review the Form 10-K in its entirety rather than relying solely on the highlights contained in this release. It is available at www.sec.gov, and on the Company's website at www.freecast.com. Shareholders may receive a hard copy of the Company's Annual Report on Form 10-K free of charge upon request at investors@freecast.com.

About FreeCast

FreeCast, Inc. (NASDAQ:CAST) is a technology company delivering a cloud-based Platform-as-a-Service (PaaS) that enables telecommunications providers, internet service providers, broadband operators, utilities, hospitality organizations, and other enterprises to deploy branded streaming media platforms. FreeCast's technology integrates live television, streaming services, on-demand programming, free ad-supported channels, and digital media experiences into a unified consumer interface across connected devices.

For more information, visit http://freecast.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding FreeCast’s business strategy; commercialization and deployment of its PaaS technology; anticipated expansion into additional markets and distribution channels; development and utilization of the Zer0Gap advertising platform; the Company’s local advertising strategy and FreeCast Cities; the targeted relaunch of Investor News Channel in November 2026; the expected rollout of Brazilian television channels beginning in fall 2026; potential activation of users through commercial partners; conversion of potential customer reach into registered or active users; potential advertising, subscription, transaction and other monetization opportunities; international expansion; the Company’s liquidity and capital resources; and the Company’s ability to access capital under its equity line of credit.

Forward-looking statements are based on current expectations, estimates, assumptions and projections and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include delays in technology development, integration and deployment; the availability of content and required distribution rights; the ability of commercial partners to perform their obligations and support planned launches; customer adoption and engagement; advertiser demand; and the Company’s ability to fund planned operations and initiatives. The targeted launch dates are subject to these risks and may change. Additional risks and uncertainties are described under "Risk Factors" and elsewhere in FreeCast’s Annual Report on Form 10-K for the fiscal year ended June 30, 2026 and in other reports filed by the Company with the Securities and Exchange Commission.

Forward-looking statements speak only as of the date of this release. FreeCast undertakes no obligation to publicly update or revise any forward-looking statement except as required by applicable law.

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