--- title: "CitroTech | 10-Q: FY2026 Q1 Revenue: USD 344.92 K" type: "News" locale: "en" url: "https://longbridge.com/en/news/286632741.md" datetime: "2026-05-16T04:14:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286632741.md) - [en](https://longbridge.com/en/news/286632741.md) - [zh-HK](https://longbridge.com/zh-HK/news/286632741.md) --- # CitroTech | 10-Q: FY2026 Q1 Revenue: USD 344.92 K Revenue: As of FY2026 Q1, the actual value is USD 344.92 K. EPS: As of FY2026 Q1, the actual value is USD -0.33. EBIT: As of FY2026 Q1, the actual value is USD -3.531 M. CitroTech Inc. operates as a single reporting segment focused on environmentally sustainable specialty chemicals for fire prevention and protection . #### Revenue Total revenue decreased by - $624,467, or -64%, from $969,382 for the three months ended March 31, 2025, to $344,915 for the three months ended March 31, 2026 . **Products Sale**: Revenue from product sales was $203,396 for the three months ended March 31, 2026, compared to $604,482 for the same period in 2025 . **Product Installation Service**: Revenue from product installation services was $141,519 for the three months ended March 31, 2026, down from $364,900 for the same period in 2025 . **Customer Concentration**: Total revenue from the top five customers increased to 67.8% for the three months ended March 31, 2026, from 48.1% in the comparable 2025 period . #### Operating Expenses Total operating expenses increased by $364,223, or 8%, from $4,427,838 for the three months ended March 31, 2025, to $4,792,061 for the three months ended March 31, 2026 . **Cost of Revenue**: Cost of revenue decreased by - $391,683, or -63%, to $225,577 in 2026 from $617,260 in 2025 . This was primarily due to a - $351,013 (-68%) decrease in the cost of inventory, which was $165,430 in 2026 compared to $516,443 in 2025 . Freight and shipping increased by $2,301 (1438%) to $2,461 in 2026 from $160 in 2025 . Consulting and advisory-related party costs decreased by - $4,000 (-100%) to $0 in 2026 from $4,000 in 2025 . Royalty and sales commission-related party costs decreased by - $56,290 (-100%) to $0 in 2026 from $56,290 in 2025 . Rent expense increased by $17,319 (43%) to $57,686 in 2026 from $40,367 in 2025 . **Amortization and Depreciation**: Increased by $51,145, or 69%, to $125,684 in 2026 from $74,539 in 2025 . **General and Administrative**: Increased by $206,785, or 102%, to $409,956 in 2026 from $203,171 in 2025 . **Advertising and Marketing**: Increased by $33,104, or 32%, to $137,600 in 2026 from $104,496 in 2025 . **Payroll and Management Compensation**: Increased by $2,433,944, or 361%, to $3,107,367 in 2026 from $673,423 in 2025, primarily due to the buildout of a full executive management team and increased stock-based compensation . **Professional Fees**: Decreased by - $2,042,566, or -74%, to $704,352 in 2026 from $2,746,918 in 2025 . **Research and Development Expense**: Increased by $73,494, or 915%, to $81,525 in 2026 from $8,031 in 2025 . #### Other Income (Expense) Total other expense decreased by - $5,681,530, or -76%, from - $7,444,948 for the three months ended March 31, 2025, to - $1,763,418 for the three months ended March 31, 2026 . Interest Expense: - $164,833 in 2026 vs - $410,791 in 2025 . Interest Expense - Related Party: - $777,285 in 2026 vs - $62,056 in 2025 . Interest Income: $26,066 in 2026 vs $0 in 2025 . Financing Expense: $0 in 2026 vs - $6,167,334 in 2025 . Loss on Fair Value of Derivative Liability: $0 in 2026 vs - $804,767 in 2025 . Loss on Settlement of Debt: - $847,366 in 2026 vs $0 in 2025 . #### Net Loss Net loss decreased by - $4,692,840, or -43%, from - $10,903,404 for the three months ended March 31, 2025, to - $6,210,564 for the three months ended March 31, 2026 . #### Working Capital Working capital decreased by - $2,472,214, from $5,245,800 as of December 31, 2025, to $2,773,586 as of March 31, 2026 . #### Cash Flow - **Operating Activities**: Net cash used in operating activities increased to - $2,059,341 for the three months ended March 31, 2026, from - $713,918 for the same period in 2025 . - **Investing Activities**: Net cash used in investing activities decreased to - $10,727 for the three months ended March 31, 2026, from - $26,988 for the same period in 2025 . - **Financing Activities**: Net cash provided by financing activities decreased significantly to $88,374 for the three months ended March 31, 2026, from $3,706,109 for the same period in 2025 . - **Cash, End of Period**: Cash at the end of the period was $4,286,897 as of March 31, 2026, compared to $3,740,336 as of March 31, 2025 . #### Outlook and Strategy CitroTech Inc. has formed HexiTech LLC, a 50⁄50 global joint venture with Hexion Inc., to develop, manufacture, commercialize, and sell fire-retardant products utilizing CitroTech Inc.’s intellectual property . The company continues to expand its patent portfolio and technology platform into additional markets, focusing on environmentally safe alternatives to legacy fire retardant and treated wood products . CitroTech Inc. is also deploying proactive wildfire defense systems under the CitroSafe Systems brand, aiming to address insurance market disruption in western states by offering coverage to customers who install these systems . #### Liquidity and Going Concern As of March 31, 2026, CitroTech Inc. had cash of approximately $4.3 million, working capital of $2.8 million, and an accumulated deficit of - $119.4 million . The company incurred a net loss of - $6.2 million and used approximately - $2.1 million of cash in operating activities for the three months ended March 31, 2026 . Management believes current cash is insufficient to fund commercial-scale production and related working capital requirements for the next twelve months, raising substantial doubt about the company’s ability to continue as a going concern . 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