Beyond Oil (BOIL) Q1 2025 earnings summary

Executive summary

• Achieved record Q1 2025 revenue of $1.01 million, up 660% year-over-year and 216% sequentially from Q4 2024, surpassing total 2024 revenue.

• Significant commercial milestones included a C$10.64 million private placement and global distribution expansion.

• Strengthened cash position and global pipeline support continued growth and potential uplisting to a senior exchange.

Financial highlights

• Revenue rose to $1.01 million in Q1 2025 from $0.13 million in Q1 2024 and $0.32 million in Q4 2024.

• Gross profit increased to $513 thousand, up 1176% year-over-year and 266% sequentially.

• Cash position grew to $4.49 million as of March 31, 2025, a 24% increase from December 31, 2024.

• Cash operating expenses were $1.25 million, up from $0.55 million year-over-year, reflecting investments in expansion.

• Net loss was $11.01 million, primarily due to $9.89 million in non-cash expenses, including $9.13 million in fair value adjustments of derivative warrants.

Outlook and guidance

• Management expects continued growth driven by global commercialization and recent investments.

• Strengthened cash position and expanded distribution network position the company for further growth and a potential senior exchange uplisting.