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California Nanotechnologies ( (TSE:CNO) ) has provided an announcement.
California Nanotechnologies reported a sharp downturn in its third quarter of fiscal 2026, with revenues falling 78% year over year to US$392,481 and swinging to a net loss of US$1.09 million, largely due to delayed manufacturing service revenues, the absence of orders from a key green steel customer, and the resulting pressure on margins over a fixed cost base. Despite the weak quarter, management expects a significant rebound in Q4/FY2026, with revenues projected to exceed US$800,000 as deferred orders are executed and new programs ramp up, supported by improving visibility on commercial contracts for 2026. The company highlighted progress on strategic growth fronts, including a Letter of Intent for SPS-based military brake disc production backed by recently approved U.S. Department of Defense funding and an initial purchase order for nuclear control rods from a U.S. small modular reactor developer, positioning Cal Nano to benefit from expanding defense and nuclear energy supply chains while deepening its presence in the U.S. SPS market through collaboration with Germany’s Dr. Fritsch.
The most recent analyst rating on (TSE:CNO) stock is a Hold with a C$0.38 price target. To see the full list of analyst forecasts on California Nanotechnologies stock, see the TSE:CNO Stock Forecast page.
Spark’s Take on TSE:CNO Stock
According to Spark, TipRanks’ AI Analyst, TSE:CNO is a Neutral.
The score is held down primarily by weakening financial performance (TTM revenue decline and a return to sizable losses) and a weak price trend (below key moving averages with negative MACD). Support comes from improved balance-sheet footing and positive operating cash flow, but valuation support is limited due to negative earnings and no dividend data.
To see Spark’s full report on TSE:CNO stock, click here.
More about California Nanotechnologies
California Nanotechnologies Corp. is a Los Angeles-based advanced materials company specializing in Spark Plasma Sintering (SPS) and related nanomaterials technologies, supplying high-value, consumable parts and manufacturing services. It targets a diversified client base across sectors such as green steel, defense, and nuclear energy, with a strategic focus on becoming a trusted domestic supplier in critical, high-performance applications, including military brake discs and nuclear control components.
Average Trading Volume: 45,456
Technical Sentiment Signal: Sell
Current Market Cap: C$18.04M
See more data about CNO stock on TipRanks’ Stock Analysis page.