Canada is the world's second-largest country by area, yet its population is comparatively small and concentrated within a narrow band along the southern border. The vast majority of the landmass is sparsely populated.

Hunting and outdoor sport are deeply established, particularly across rural, western, and northern regions. Thermal optics, however, are regulated at the provincial level, and permitted civilian use — especially for hunting — varies meaningfully by jurisdiction.

The result is that the civilian addressable market for thermal is structurally smaller than Canada's raw size and population would suggest. It is defined by the overlap of low population density, provincial regulation, and the subset of hunters and outdoorsmen who adopt thermal technology.

A domestic 3PL warehouse was established to enable in-country fulfillment for Canadian dealers. Two dedicated sales representatives were hired to cover the Eastern and Western territories, and a Canada Sales Manager was appointed to lead the market.

Pulsar thermal riflescopes and clip-on attachments were introduced to Canada for the first time, bringing the core thermal line directly to the Canadian dealer network.

The dealer network was established over the course of the year and continues to grow.

• RCMP contract awarded, with initial shipments fulfilled — tracked separately from commercial sales throughout this report.
• Dealer network expanding across both the Eastern and Western territories.
• New product categories gaining traction with Canadian dealers.
• Commercial revenue trajectory building month over month.