Quarterly ResultJul 31, 2026, 05:36 PM
Olenox Industries Q1 Revenue $285K; Net Loss $(3.06M); Going Concern Warning
AI Summary
Olenox Industries reported a net loss attributable to common stockholders of $(3.06) million for Q1 2026, an increase from $(2.75) million in Q1 2025, while revenue declined to $285,313. The company also disclosed a going concern warning due to persistent losses, negative working capital of approximately $(23.4) million, and negative operating cash flows. Additionally, Olenox Industries changed its name from Safe & Green Holdings Corp. in January 2026 and restated prior financials related to a 2025 merger.
Key Highlights
- Net loss attributable to common stockholders increased to $(3.06) million in Q1 2026 from $(2.75) million in Q1 2025.
- Revenue decreased to $285,313 in Q1 2026 from $566,354 in Q1 2025.
- Net cash used in operating activities increased to $(1.91) million in Q1 2026 from $(1.31) million in Q1 2025.
- Company issued a going concern warning due to recurring losses, negative working capital of $(23.4) million, and negative operating cash flows.
- Cash and cash equivalents decreased to $30,883 as of March 31, 2026, from $427,866 as of December 31, 2025.
- Construction backlog significantly increased to $1.28 million as of March 31, 2026, from $0.27 million as of December 31, 2025.
- Company changed its name from Safe & Green Holdings Corp. to Olenox Industries Inc. on January 7, 2026.
- Restated prior financials, reducing Series A Preferred Stock and goodwill by $15.77 million related to the NAHD merger.
Price Impact
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