Quarterly ResultAug 13, 2026, 01:12 PM
Sky Quarry H1 2026 Net Loss $6.38M; Going Concern Warning
AI Summary
Sky Quarry Inc. reported a net loss of $6.38 million for the first half of 2026, an increase from $5.54 million in the prior year, alongside a going concern warning due to an accumulated deficit and negative operating cash flows. The company's net sales significantly dropped to $383 from $10.87 million in H1 2025, as its Foreland Refinery operations have not yet restarted. Despite these challenges, Sky Quarry successfully raised $12.54 million net proceeds from common stock issuance, leading to a substantial increase in its cash balance to $7.23 million and shareholders' equity to $11.76 million.
Key Highlights
- Reported H1 2026 net loss of $6.38 million, up from $5.54 million in H1 2025.
- H1 2026 net sales plummeted to $383 from $10.87 million in H1 2025.
- Issued a going concern warning due to $42.54 million accumulated deficit and negative operating cash flows.
- Raised $12.54 million net proceeds from common stock issuance in H1 2026.
- Cash balance increased to $7.23 million as of June 30, 2026, from $35,370 at Dec 31, 2025.
- Shareholders' equity rose to $11.76 million from $3.19 million at Dec 31, 2025.
- Refinery operations have not restarted, contributing no meaningful cash flow in H1 2026.
- Past due debt includes $1.28 million to Private Lender A and $555,650 to LendSpark.
Price Impact
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