Sky Quarry Inc. Reports Impressive Growth in Q2 Financials
Sky Quarry Inc. Financial Highlights for the Second Quarter
Sky Quarry Inc. (NASDAQ: SKYQ), renowned for its commitment to sustainable energy solutions, has unveiled promising financial results for the second quarter of 2025. Having achieved significant milestones, the company reported an impressive $4.54 million in revenue, marking a 35% increase compared to the same quarter last year. This growth can be attributed to restored supply volumes paired with a series of operational enhancements.
Strategic Initiatives and Growth Plans
One of the most notable developments is the announcement of a strategic growth plan aimed at maximizing operations at the Foreland Refinery. The goal is to reach its full permitted production capacity of 800,000 barrels annually, positioning the company as a strong contender in meeting the escalating fuel demands of the region.
Innovative Recycling Initiatives
In line with its mission to improve resource recovery, Sky Quarry has also submitted a proposal to obtain a recycling permit. This initiative will allow the company to develop a fully integrated energy facility in Utah, specifically designed to recover valuable oil from waste asphalt shingles. This approach supports not only environmentally-friendly practices but also the company’s overarching business model.
Exploring Digital Asset Opportunities
Additionally, Sky Quarry launched a strategic digital asset initiative that seeks to explore the tokenization of real-world energy commodities. This innovative measure is set to open new market channels and contribute to a long-term digital treasury, reflecting the company's innovative spirit in the energy sector.
Detailed Financial Overview
For the three-month period ending June 30, 2025, the revenue of $4.54 million represented a robust growth trajectory, contrasting sharply with $3.38 million in Q2 2024. Despite the increase in revenue, the company recorded a gross profit loss of $117,529 for the quarter, although this marks a significant improvement from the loss of $485,589 experienced a year earlier.
Walking through the operational expenditures, total operating expenses rose to $1.62 million for the quarter versus $0.97 million during the same time frame last year. These expenses pointed to the company's ongoing investments in growth. For the first half of the year, total revenues stood at $10.87 million, demonstrating a year-on-year decrease from $14.33 million.
Despite these fluctuations, the net loss shrank significantly to $2.21 million compared to $3.56 million for the same period the previous year. Overall, the net loss for the first half was $5.54 million, a slight improvement from $6.03 million the same time last year. Furthermore, the net cash used in operational activities saw a substantial decrease, which stood at $0.73 million versus $2.60 million the prior year.
Looking at Sky Quarry Inc.'s Future
As Sky Quarry moves forward, it remains focused on its environmental mission and sustainable practices by repurposing vast amounts of asphalt shingle waste. The dedication to improving waste management and resource efficiency not only aligns with industry trends but also supports broader environmental goals.
Contact Information
For further inquiries, please reach out to:
Investor Relations
Jennifer Standley
Director of Investor Relations
Ir@skyquarry.com
Company Website
www.skyquarry.com
Frequently Asked Questions
What were Sky Quarry Inc.'s revenues for Q2 2025?
The company reported revenues of $4.54 million, a 35% increase from Q2 2024.
What strategic initiatives did Sky Quarry announce?
Sky Quarry unveiled a strategic growth plan to ramp up operations to full production capacity and submitted a permit for a new recycling facility.
How did the net loss change from the previous year?
The net loss for Q2 2025 was $2.21 million, an improvement compared to $3.56 million in Q2 2024.
What is Sky Quarry's approach to sustainable practices?
Sky Quarry focuses on recycling waste asphalt shingles and aims to develop integrated energy solutions.
Who can I contact for more information about Sky Quarry?
You can reach Jennifer Standley, the Director of Investor Relations, at Ir@skyquarry.com.
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