Sky Quarry (SKYQ) Q2 2026 earnings summary

Executive summary

• Operations were severely impacted by an extended shutdown at the Eagle Springs refinery, resulting in minimal sales and production for the first half of 2026.

• The company is developing a second segment, PR Springs, focused on recycling waste asphalt shingles and oil sands remediation, with commercial operations targeted for 2027.

• A one-for-eight reverse stock split was completed in March 2026, and the company continued to raise capital through an ATM equity program.

Financial highlights

• Net sales were $0 for Q2 2026 and $383 for the six months ended June 30, 2026, down from $4.5M and $10.9M in the prior year periods.

• Net loss was $4.1M for Q2 2026 and $6.4M for the six months, compared to $2.2M and $5.5M in the prior year.

• Gross margin was negative due to fixed costs and lack of production; cost of goods sold was $685K for Q2 2026.

• Cash on hand increased to $7.2M as of June 30, 2026, primarily from equity issuances.

Outlook and guidance

• Refinery repairs are complete, and operations are expected to resume by the end of Q3 2026, with a focus on restoring revenue and margin.

• The company plans to continue raising capital and refinancing debt to address ongoing liquidity needs.

• Commercialization of the PR Springs facility is targeted for 2027, contingent on securing necessary funding.