Quarterly ResultJun 9, 2026, 03:01 PM
Eco Science Solutions Reports $9.44M Net Income on Debt Settlements
AI Summary
Eco Science Solutions, Inc. (ESSI) reported a significant financial turnaround for the fiscal year ended January 31, 2026, achieving a net income of $9.44 million compared to a net loss of $1.10 million in the prior year. This positive result was primarily driven by substantial gains from debt settlement and forgiveness transactions totaling over $10.5 million. Operating expenses saw a decrease of 6.5% year-over-year. While the company did not generate revenue in FY2026, it has begun early-stage commercialization efforts with initial paying customers post-year-end.
Key Highlights
- Eco Science Solutions reported a net income of $9.44 million for FY2026, a significant turnaround from a net loss of $1.10 million in FY2025.
- The company's net income was driven by substantial gains on debt settlement and forgiveness transactions totaling $10.52 million.
- Operating expenses decreased by 6.5% to $958,352 in FY2026 from $1,025,139 in FY2025.
- As of January 31, 2026, cash increased to $32,699 from $2,817 in the prior year.
- Total liabilities significantly decreased to $1.19 million in FY2026 from $16.67 million in FY2025 due to debt settlements.
- The company did not generate revenue in FY2026 and FY2025, but has commenced limited onboarding of initial paying customers post-year-end.
Price Impact
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