Sky Quarry Reports Zero Q2 Revenue, $4.1M Loss, and Going Concern Warning
SKYQ has more than doubled off its 52-week low of $1.1.
Summary
Sky Quarry's Q2 2026 10-Q shows zero revenue, a $4.1 million net loss, and a going concern warning. The ATM program is exhausted, and a $2.2 million foreclosure lawsuit is pending.
Key Events · Earnings and Guidance · SKYQ
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Zero Q2 Revenue
Net sales were $0 for the three months ended June 30, 2026, compared to $4.5 million in Q2 2025, due to the Eagle Springs refinery remaining offline for boiler repairs.
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Net Loss Widens
Q2 2026 net loss was $4,055,376, up from $2,208,650 in Q2 2025, driven by zero revenue, $1.0 million loss on debt extinguishment, and $99,540 warrant revaluation loss.
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Going Concern Warning
Accumulated deficit reached $42,542,109, and negative operating cash flow was $5,413,699 for H1 2026. The company states it needs additional financing to meet obligations.
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ATM Program Exhausted
The $12.6 million ATM program is fully used, raising $12,539,949 net proceeds from 4,781,795 shares. No further ATM capacity remains.
Analysis · SKYQ · Energy & Transportation
The Q2 2026 10-Q reveals that the refinery remained offline for the entire quarter, resulting in zero revenue and a $4.1 million net loss. Substantial doubt about the company's ability to continue as a going concern is reiterated, with an accumulated deficit of $42.5 million and negative operating cash flow of $5.4 million for the first half. The ATM program is now exhausted after raising $12.5 million, and a $2.2 million foreclosure lawsuit from KF Business Ventures adds legal pressure. Management expects refinery production to resume in September 2026, but without additional financing, the company may not meet its obligations.
At the time of this filing, SKYQ was trading at $3.35 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $29.5M. The 52-week trading range was $1.10 to $19.45. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.