Cyanotech | 10-Q: FY2026 Q1 Revenue: USD 5.82 M

Revenue: As of FY2026 Q1, the actual value is USD 5.82 M.

EPS: As of FY2026 Q1, the actual value is USD -0.13.

EBIT: As of FY2026 Q1, the actual value is USD -926 K.

Segment Revenue

• Packaged Sales: Astaxanthin packaged sales were $2,968,000, a decrease of 9.0% from $3,260,000 in the previous year. Spirulina packaged sales were $1,150,000, a decrease of 19.5% from $1,429,000 in the previous year. Total packaged sales were $4,118,000, a decrease of 12.2% from $4,689,000 in the previous year.
• Bulk Sales: Astaxanthin bulk sales were $1,156,000, an increase of 49.2% from $775,000 in the previous year. Spirulina bulk sales were $506,000, an increase of 48.0% from $342,000 in the previous year. Total bulk sales were $1,662,000, an increase of 48.8% from $1,117,000 in the previous year.
• Contract Extraction and R&D Services Revenue: Revenue was $40,000, a decrease of 56.5% from $92,000 in the previous year.

Operational Metrics

• Net Loss: The net loss for the three months ended June 30, 2025, was - $926,000, compared to - $1,202,000 for the same period in 2024.
• Gross Profit: Gross profit was $1,773,000, an increase from $1,476,000 in the previous year. Gross profit as a percentage of net sales increased to 30.5% from 25.0%.
• Operating Expenses: Operating expenses were $2,526,000, slightly up from $2,517,000 in the previous year.
• Operating Loss: Operating loss was - $753,000, compared to - $1,041,000 in the previous year.

Cash Flow

• Operating Activities: Cash used in operating activities was - $328,000, compared to cash provided by operating activities of $243,000 in the previous year.
• Investing Activities: Cash used in investing activities was - $22,000, compared to - $47,000 in the previous year.
• Financing Activities: Cash provided by financing activities was $476,000, compared to cash used in financing activities of - $183,000 in the previous year.

Future Outlook and Strategy

• Core Business Focus: Cyanotech Corporation aims to stabilize production volume, rationalize market channel participation, and leverage its centers of core competence. The company will continue to emphasize Nutrex Hawaiian consumer products while exploring further opportunities for bulk sales orders for spirulina and astaxanthin, both domestically and internationally.
• Non-Core Business: Extraction services to third-party customers utilizing the company’s supercritical carbon dioxide extractor process are expected to generate additional income throughout the year.
• Priority: The company will focus on higher margin consumer products that promote health and well-being and strive for continuous improvements in processes and production methods to stabilize costs and production levels for the future.