Beyond Oil (BOIL) Q2 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $1.4 million in Q2 2026, up 28% year-over-year and 11% sequentially from Q1 2026.

• First-half 2026 revenue reached $2.7 million, a 26% increase compared to the same period in 2025.

• Strategic focus on building a U.S. direct-sales foundation to target larger enterprise customers and drive long-term growth.

Financial highlights

• Q2 2026 gross profit was $0.589 million, with a gross margin of 42.2%, down from 56.3% in Q2 2025 due to inventory and channel mix changes.

• Operating expenses rose to $3.013 million, mainly from a 63% increase in sales and marketing costs tied to U.S. expansion.

• Net loss for Q2 2026 was $2.088 million ($0.03 per share), compared to a net loss of $0.853 million ($0.01 per share) in Q2 2025.

• Cash, cash equivalents, and short-term deposits totaled $4.535 million as of June 30, 2026.

• Working capital stood at $9.037 million, with a current ratio of approximately 7.4x.

Outlook and guidance

• Management expects gross margin to improve as the direct-sales channel scales in the U.S. during the second half of 2026.

• Anticipates increased gross profit in coming quarters as expansion efforts mature and cost basis improves.