Quarterly ResultMay 13, 2026, 04:37 PM
Verde Resources Reports First Commercial Revenue of $460K
AI Summary
Verde Resources reported its first commercial revenue of $460,005 in Q3 2026 from sales of its proprietary cold mix biochar asphalt emulsifying agent, Verde V24, to Ergon. This marks a significant increase from $697 in the prior year's quarter and follows the execution of a 10-year exclusive licensing agreement with Ergon for North America. The company also reduced its nine-month net loss to $(2,366,700) and increased cash and cash equivalents to $2,129,576.
Key Highlights
- Reported first commercial revenue of $460,005 from Ergon for Verde V24 in Q3 2026.
- Q3 2026 revenue increased to $460,005 from $697 year-over-year.
- Nine-month net loss decreased to $(2,366,700) from $(3,485,994) year-over-year.
- Cash and cash equivalents rose to $2,129,576 as of March 31, 2026, from $1,021,112.
- Secured an exclusive 10-year licensing agreement with Ergon for Verde V24 in North America.
- Registered as a Carbon Removal Credit supplier with Puro.earth and engaged Isometric for verification.
- Ongoing 3-year performance testing project with NCAT for BioAsphalt™ technology.
- Established Verde Resources Asia Pacific Pte. Ltd. in Singapore for biotechnology R&D.