Quarterly ResultJun 17, 2026, 04:47 PM
Skkynet Cloud Systems Reports Mixed Q1 Results; Revenue Up 4% QoQ, Down 18% YTD
AI Summary
Skkynet Cloud Systems, Inc. filed its quarterly report for the period ended April 30, 2026. The company reported a 4% increase in revenue for the three-month period to $606,106, but a significant 18% decrease for the six-month period to $1,155,499, attributed to lower sales and a shift from perpetual to subscription licenses. The company reported a net loss of $109,392 for the three-month period and a larger net loss of $335,901 for the six-month period. Liabilities increased due to a new loan, while stockholders' equity decreased. The company also received initial funding from an Industrial AI Product Development Initiative loan.
Key Highlights
- Skkynet Cloud Systems reported revenue of $606,106 for the three months ended April 30, 2026, a 4% increase year-over-year.
- For the six months ended April 30, 2026, revenue decreased by 18% to $1,155,499 compared to the prior year.
- The company reported a net loss of $109,392 for the three months ended April 30, 2026, compared to a net loss of $227,723 in the same period of 2025.
- Total assets were $1,937,112 as of April 30, 2026, an increase from $1,831,014 as of October 31, 2025.
- Total liabilities increased to $1,100,112 as of April 30, 2026, from $803,299 as of October 31, 2025, including a new loan payable of $166,773.
- Stockholders' equity decreased to $837,000 as of April 30, 2026, from $1,027,715 as of October 31, 2025.
- The company received $166,773 from an Industrial AI Product Development Initiative loan, with a total commitment of up to $1.9 million.
- Stock option expense recognized for the six months ended April 30, 2026, was $125,456.
Price Impact