Quarterly ResultMay 15, 2026, 01:06 PM
Sky Quarry Q1 Net Sales $383; Net Loss $(2.32M); Going Concern Warning
AI Summary
Sky Quarry Inc. reported a significant decline in net sales to $383 for Q1 2026, down from $6.33 million in Q1 2025, while reducing its net loss to $(2.32) million from $(3.33) million year-over-year. The company faces a going concern uncertainty due to an accumulated deficit of $38.49 million and negative operating cash flows. Additionally, a lawsuit was filed by KF Business Ventures, LP seeking repayment of approximately $2.2 million in principal under promissory notes.
Key Highlights
- Net sales plummeted to $383 in Q1 2026 from $6.33 million in Q1 2025.
- Net loss improved to $(2.32) million in Q1 2026 from $(3.33) million in Q1 2025.
- Loss per common share improved to $(0.65) from $(1.25) year-over-year.
- Company has an accumulated deficit of $38.49 million as of March 31, 2026.
- Negative cash flows from operations were $(588,631) for Q1 2026.
- KF Business Ventures, LP filed a lawsuit seeking $2.2 million in principal repayment.
- Total current liabilities increased to $16.40 million from $15.12 million.
- Total shareholders' equity decreased to $1.99 million from $3.19 million.
Price Impact
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