NextTrip | 10-Q: FY2026 Q3 Revenue Misses Estimate at USD 1.2 M

Revenue: As of FY2026 Q3, the actual value is USD 1.2 M, missing the estimate of USD 2.521 M.EPS: As of FY2026 Q3, the actual value is USD -0.37.EBIT: As of FY2026 Q3, the actual value is USD -2.921 M.Segment RevenueThree Months Ended November 30, 2025:Media: $21,098 Travel: $1,179,032 Total Revenue: $1,200,130 Three Months Ended November 30, 2024:Media: $0 Travel: $74,635 Total Revenue: $74,635 Nine Months Ended November 30, 2025:Media: $26,751 Travel: $2,069,854 Total Revenue: $2,096,605 Nine Months Ended November 30, 2024:Media: $0 Travel: $417,926 Total Revenue: $417,926 Gross Profit (Loss)Three Months Ended November 30, 2025:Media: $21,098 Travel: $196,380 Total Gross Profit: $217,478 Three Months Ended November 30, 2024:Media: $0 Travel: -$2,116 Total Gross Loss: -$2,116 Nine Months Ended November 30, 2025:Media: $26,751 Travel: $395,208 Total Gross Profit: $421,959 Nine Months Ended November 30, 2024:Media: $0 Travel: $12,138 Total Gross Profit: $12,138 Total Operating ExpensesThree Months Ended November 30, 2025:Media: $487,987 Travel: $433,239 Corporate: $2,381,034 Total Operating Expenses: $3,302,260 Three Months Ended November 30, 2024:Media: $0 Travel: $413,991 Corporate: $1,357,420 Total Operating Expenses: $1,771,411 Nine Months Ended November 30, 2025:Media: $1,136,758 Travel: $1,323,822 Corporate: $8,888,773 Total Operating Expenses: $11,349,353 Nine Months Ended November 30, 2024:Media: $0 Travel: $1,366,979 Corporate: $3,840,380 Total Operating Expenses: $5,207,359 Operating LossThree Months Ended November 30, 2025:Media: -$466,889 Travel: -$236,859 Corporate: -$2,381,034 Total Operating Loss: -$3,084,782 Three Months Ended November 30, 2024:Media: $0 Travel: -$416,107 Corporate: -$1,357,420 Total Operating Loss: -$1,773,527 Nine Months Ended November 30, 2025:Media: -$1,110,007 Travel: -$928,614 Corporate: -$8,888,773 Total Operating Loss: -$10,927,394 Nine Months Ended November 30, 2024:Media: $0 Travel: -$1,354,841 Corporate: -$3,840,380 Total Operating Loss: -$5,195,221 Net Income (Loss) from Continuing OperationsFor the three months ended November 30, 2025, NextTrip, Inc. reported a net loss from continuing operations of -$3,275,566, compared to -$2,009,829 for the same period in 2024 .For the nine months ended November 30, 2025, the net loss from continuing operations was -$10,630,953, compared to -$5,530,975 for the same period in 2024 .Net Income (Loss) Applicable to Common StockholdersFor the three months ended November 30, 2025, the net loss applicable to common stockholders was -$3,286,255, compared to -$2,019,951 for the same period in 2024 .For the nine months ended November 30, 2025, the net loss applicable to common stockholders was -$10,889,368, compared to -$5,554,694 for the same period in 2024 .Cash FlowNet Cash Used in Operating Activities:Nine Months Ended November 30, 2025: -$2,450,860 Nine Months Ended November 30, 2024: -$3,135,353 Net Cash Used in Investing Activities:Nine Months Ended November 30, 2025: -$1,752,168 Nine Months Ended November 30, 2024: -$468,751 Net Cash Provided by Financing Activities:Nine Months Ended November 30, 2025: $5,567,960 Nine Months Ended November 30, 2024: $3,295,684 Other Key Financial MetricsCash and Cash Equivalents:As of November 30, 2025: $2,427,299 As of February 28, 2025: $1,062,367 Working Capital Deficit:As of November 30, 2025: -$750,124 As of February 28, 2025: -$105,577 Intangible Assets, Net:As of November 30, 2025: $3,809,004 As of February 28, 2025: $2,127,368 Goodwill:As of November 30, 2025: $3,123,684 As of February 28, 2025: $1,167,805 Derivative Liability:As of November 30, 2025: $80,000 As of February 28, 2025: $0 Contingent Consideration:As of November 30, 2025: $180,000 As of February 28, 2025: $0 Strategic SummaryNextTrip, Inc. is focused on developing an integrated travel booking and media platform, utilizing its NXT2.0 booking engine and media properties like JOURNY.tv and Travel Magazine to engage travelers . The company’s strategy involves expanding product offerings through acquisitions, such as FSA Travel, LLC and TA Pipeline LLC, to enhance luxury, cruise, and group travel services, while integrating media content to drive traffic and advertising revenue . NextTrip, Inc. aims to differentiate itself by targeting underserved market opportunities, employing specialty features like PayDlay, Groups Platform, and Travel Agent Platform, and reducing external marketing costs via its integrated ecosystem .Outlook and GuidanceNextTrip, Inc. faces substantial doubt about its ability to continue as a going concern for the next 12 months, citing an accumulated deficit of -$45,239,191 and a working capital deficit of -$750,124 as of November 30, 2025 . The company requires a minimum of $5.5 million to continue operations and plans to raise additional funds through equity or debt to support technology enhancements, marketing, and business growth . Failure to secure adequate funding could lead to operational delays, scaling back, or termination of business, potentially resulting in the loss of its Nasdaq listing .