Quarterly ResultAug 10, 2026, 06:09 AM
CitroTech Q2 Net Loss $3.9M; Going Concern Warning Issued
AI Summary
CitroTech Inc. reported a net loss of $3.90 million for the second quarter of 2026 and $10.11 million for the first half of 2026. Revenue significantly decreased to $280,666 for Q2 2026 and $625,581 for H1 2026 compared to the prior year. The company's cash position declined to $2.52 million, and management expressed substantial doubt about its ability to continue as a going concern due to insufficient cash to fund commercial-scale production.
Key Highlights
- Net loss for Q2 2026 was $3.90 million, compared to $11.90 million in Q2 2025.
- Net loss for H1 2026 was $10.11 million, compared to $22.81 million in H1 2025.
- Revenue for Q2 2026 was $280,666, down from $687,638 in Q2 2025.
- Revenue for H1 2026 was $625,581, down from $1.66 million in H1 2025.
- Cash balance at June 30, 2026, was $2.52 million, down from $6.27 million at December 31, 2025.
- Working capital at June 30, 2026, was $3.3 million.
- Company incurred an accumulated deficit of $123.3 million at June 30, 2026.
- Management raised substantial doubt about the company's ability to continue as a going concern.
Price Impact
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