Sky Quarry, Inc. ( (SKYQ) ) has released its Q2 earnings. Here is a breakdown of the information Sky Quarry, Inc. presented to its investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Sky Quarry Inc., an emerging growth company in the oil production and environmental remediation sector, focuses on recycling waste asphalt shingles and remediating oil-saturated soils to reduce landfill dependency and crude oil extraction. In its latest earnings report for the quarter ending June 30, 2025, Sky Quarry Inc. reported a net loss of $5.54 million, a slight improvement from the $6.03 million loss in the same period last year. Despite an increase in net sales to $10.87 million, the company faced challenges with higher costs of goods sold and operating expenses, leading to a negative gross margin. Key financial metrics highlighted include a decrease in total assets to $22.8 million from $26.9 million at the end of 2024, and a significant increase in accumulated deficit to $29.5 million. The company also noted its ongoing efforts to secure additional financing to support its operations and growth plans. Looking ahead, Sky Quarry Inc. management remains focused on addressing its financial challenges by closely monitoring expenses, refinancing existing debt, and exploring new capital opportunities to sustain its operations and commercialize its extraction technology.