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DevvStream Corp. reported a net loss of $3.4 million for Q2 2026, with minimal revenue of $7K and a gross profit of $270. The company's operating expenses totaled $2.6M, driven primarily by professional fees of $2.1M. Significant non-operating losses included a $1.7M loss on cryptocurrency revaluation and a $1.5M change in warrant liabilities fair value. The balance sheet shows total assets of $7.3M against total liabilities of $26.6M, resulting in shareholders' deficiency of $19.3M. Cash flow from operations was negative $5.9M, while financing activities provided $3.3M through PIPE financing and ELOC drawdowns. The company's going concern status is noted due to working capital deficit and negative cash flows.
DevvStream Corp. reported a net loss of $3.4 million for Q2 2026 (three months ended January 31, 2026), with revenue of only $7K and gross profit of $270. The company's operating expenses totaled $2.6M, primarily driven by professional fees of $2.1M, sales and marketing of $147K, general and administrative expenses of $197K, and salaries and wages of $182K. Significant non-operating items included a $1.7M loss on revaluation of cryptocurrencies, a $1.5M change in fair value of warrant liabilities, and $287K in interest expense. The company's comprehensive loss was also $3.4M, with basic and diluted loss per share of $1.00.
The company generated minimal revenue of $7K during Q2 2026, with cost of sales of $7K, resulting in a gross profit of $270. The document does not provide segment breakdown or geographic revenue mix. Revenue generation remains limited as the company focuses on developing its carbon credit and cryptocurrency operations. No specific growth drivers or product/service revenue breakdown is disclosed in the available data.
Gross margin cannot be meaningfully calculated due to the minimal revenue base. Operating expenses of $2.6M significantly exceeded the gross profit of $270, resulting in substantial operating losses. Professional fees represented the largest expense category at $2.1M, followed by general and administrative expenses of $197K. The company's cost structure reflects its early-stage development status with significant professional and administrative costs. No operating margin or gross margin percentages are provided in the source data.
Operating activities used $5.9M in cash, primarily due to the net loss of $3.4M, adjusted for non-cash items including a $3.8M change in warrant liabilities fair value and $1.7M cryptocurrency revaluation loss. Investing activities used $5.1M for cryptocurrency purchases. Financing activities provided $3.3M through PIPE financing of $2.0M and ELOC drawdowns of $1.7M. The balance sheet shows total assets of $7.3M, including $2.0M current assets, $3.1M in restricted cryptocurrencies, and $1.3M restricted cash. Total liabilities of $26.6M include $10.2M accounts payable, $8.6M convertible debentures, and $1.9M warrant liabilities, resulting in shareholders' deficiency of $19.3M.
The filing notes substantial doubt about the company's ability to continue as a going concern due to working capital deficit, negative cash flows, and limited revenues. The company will require additional capital to fund operations and working capital. Management notes the company entered into a binding term sheet for a three-party merger with XCF Global Inc. and Southern Energy Renewables Inc. on January 26, 2026, though no definitive agreement has been executed. The company received a Nasdaq notification regarding non-compliance with continued listing standards and has until May 18, 2026, to regain compliance. Risk factors include dependence on additional financing, cryptocurrency market volatility, and execution of strategic transactions.
EPS
-$1
Revenue
$7K
Net Income
-$3.4M
Gross Profit
$270