CAST

Revenue Up 13%; Advertising Revenue Up 42%; Auditor's Report Contains No Going-Concern ORLANDO, Fla., October 01, 2026--(BUSINESS WIRE)--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 [email protected]. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20261001964216/en/ Contacts Investor Relations: [email protected] Media: [email protected] | (407) 374-1607

Company Highlights Increased Advertising Revenue, Strengthened Capital Position and Expansion of PaaS Commercial Strategy ORLANDO, Fla., September 29, 2026--(BUSINESS WIRE)--FreeCast Inc. (NASDAQ: CAST) ("FreeCast" or the "Company"), a media and technology company providing streaming and media monetization solutions, today announced that it has filed its Annual Report on Form 10-K for the fiscal year ended June 30, 2026 with the U.S. Securities and Exchange Commission. Fiscal 2026 represented an important period in FreeCast's transition from primarily developing its technology platform toward commercial deployment of its Platform-as-a-Service ("PaaS") strategy across telecommunications, broadband, satellite, multifamily and other distribution environments. Fiscal 2026 Highlights Among the financial and operating developments reflected in, or occurring in connection with, fiscal 2026: - Revenue: FreeCast reported fiscal 2026 revenue of approximately $711,000, including approximately $386,000 of advertising revenue. - Advertising Platform: Advertising revenue increased during the fourth fiscal quarter as the Company began commercial activity utilizing its rebuilt Zer0Gap advertising technology platform. Advertising revenue for the fourth quarter was approximately $256,000, representing a substantial increase compared with earlier periods in the fiscal year. - Capital Position: Subsequent to fiscal year-end, the Company completed financing transactions generating approximately $23.7 million in gross proceeds, or approximately $22.3 million in net proceeds. - Going Concern: Following the financing, management concluded that the Company's liquidity position alleviated the substantial doubt regarding its ability to continue as a going concern described in prior periods. The Company's fiscal 2026 independent auditor's report does not contain a going-concern explanatory paragraph. - Additional Capital Access: FreeCast also entered into an equity purchase arrangement providing the Company, subject to the terms and conditions of the agreement, the ability to sell up to $50 million of common stock over the applicable commitment period. - DIRECTV: During fiscal 2026, FreeCast expanded its commercial relationship with DIRECTV across residential and multifamily opportunities as part of the Company's strategy to combine premium television offerings with FreeCast's broader media platform. - Starlink Business: FreeCast entered into a reseller relationship for Starlink Business services, expanding the Company's ability to address connectivity and media opportunities across commercial and other markets. - Telecommunications: The Company entered into agreements with Via One affiliates, including Assist Wireless and enTouch Wireless, further extending its PaaS strategy into mobile telecommunications. Building the Media Layer Above Connectivity FreeCast's strategy is increasingly focused on providing a white-label media and monetization platform to companies that already maintain relationships with large numbers of consumers. Rather than requiring telecommunications providers, broadband operators, satellite companies, property operators and other partners to independently develop and maintain complex streaming ecosystems, FreeCast's PaaS is designed to provide technology for content discovery, subscription management, payments, advertising and other media services within a partner-branded environment. "Our objective is straightforward: the telecommunications industry has invested enormous amounts of capital connecting consumers, while an entirely different economic opportunity begins after that connection is established," said William Mobley, Chief Executive Officer of FreeCast. "FreeCast is building the software layer designed to help our partners participate in what their customers watch, subscribe to and purchase without requiring those partners to recreate the underlying media infrastructure themselves." Mobley continued, "Fiscal 2026 was principally about strengthening the platform, capital structure and commercial foundation. Going forward, our focus is execution — converting commercial relationships into deployments, deployments into activated users, and user activity into recurring transaction and advertising opportunities." Expanding Commercial Footprint FreeCast continues to pursue opportunities across broadband, telecommunications, satellite, multifamily housing, utilities and international markets. The Company has announced initiatives involving FPUAnet, Wire3 and Caribbean markets, among others, as it works to expand the distribution footprint for its PaaS technology. Subsequent to fiscal year-end, FreeCast has also announced additional initiatives, including its U.S. local-market strategy and an agreement involving the distribution of Brazilian television programming. 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. From Infrastructure to Monetization FreeCast believes the opportunity for its platform extends beyond traditional streaming subscriptions. The Company is pursuing a business model intended to allow distribution partners to maintain their customer relationships and brands while adding media discovery, subscription transactions, advertising and other monetization capabilities. Capital → Commercial Partners → Deployments → Activated Users → Transactions and Advertising → Revenue FreeCast intends to provide additional information regarding its commercial progress as deployments advance and operating metrics become available and appropriate for public disclosure. Annual Report FreeCast's Annual Report on Form 10-K for the fiscal year ended June 30, 2026 contains the Company's audited consolidated financial statements, Management's Discussion and Analysis, risk factors and other information concerning the Company's business, financial condition and results of operations. Investors are encouraged to review the Form 10-K in its entirety rather than relying solely on the highlights contained in this release. About FreeCast FreeCast Inc. (NASDAQ: CAST) is a media and technology company developing an integrated platform for content discovery, streaming, subscription management, advertising and monetization. FreeCast's Platform-as-a-Service strategy is designed to enable telecommunications providers, broadband companies, satellite operators, multifamily providers and other organizations to offer branded media experiences to their customers without independently developing and maintaining a full streaming technology infrastructure. For more information, visit FreeCast.com. For complete information refer to SEC filing at: https://www.sec.gov/Archives/edgar/data/1633369/000121390026104155/ea0306522-10k_freecast.htm Forward-Looking Statements All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Generally, such forward-looking statements include statements regarding expectations, possible or assumed future actions, business strategies, events or results of operations, including statements regarding expectations or predictions or future financial or business performance or conditions and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate," or similar expressions. The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties, and assumptions. Actual results could differ materially from current projections or implied results. The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statements following the date of this news release, whether because of new information, future events or otherwise, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260929846532/en/ Contacts PR Contact Info: [email protected] (407) 374-1607 https://freecast.com