CitroTech Inc. Interim Filing: Revenue Softens on Both Windows While Loss Narrows, Going-Concern Flag Carries Through

Bottom line

18 per diluted share USD/SHARES. Compared with the prior-year comparative, Revenues moved lower, while Net Income (Loss) Attributable to Parent and Operating Income (Loss) each remained a loss, with Net Income (Loss) Attributable to Parent moving in the authorized loss-to-loss direction; Operating Income (Loss) moved in the authorized loss-to-loss direction. Earnings Per Share, Diluted on the three-month window stayed a loss on a loss basis in the authorized direction.

5 per diluted share USD/SHARES. Compared with the prior-year comparative, Revenues were lower, Net Income (Loss) Attributable to Parent moved in the authorized loss-to-loss direction, and Operating Income (Loss) moved in the authorized loss-to-loss direction. Earnings Per Share, Diluted on the six-month window stayed a loss on a loss basis in the authorized direction.

47 per diluted share USD/SHARES, each a loss in their respective period. - The filing evidence does not attribute this change to any single cause. - The reporting issuer, CitroTech Inc.

(CITR), filed under 10-Q/A for period-ended-2026-06-30 with accession 0001683168-26-006123 and CIK 0000894556. S. GAAP per Note 2; corporate history and the going-concern basis are described in Note 1.

Other sections of the form are itemized across Item 1, Item 1A, Item 2, Item 3, Item 4, Item 5, and Item 6. Fair-value hierarchy references appear at Level 1, Level 2, and Level 3. - The filing evidence contains no peer or industry comparison.

- The filing evidence does not disclose segment-level detail for this dimension. - Readers cross-checking interim filings with a similar loss-persists profile can compare against Lizely Finance Earnings Analysis — Veru Inc. (VERU) Interim Filing: Losses Persist With Mixed Year-over-Year Direction.

Financial performance

- Reported revenue for the three-month reporting period the three months ended June 30, 2026 came in at $280,666 USD, against $687,638 USD for the prior-year comparative window the three months ended June 30, 2025. On a year-over-year basis this is a decrease. - Revenue for the six-month year-to-date period the six months ended June 30, 2026 was $625,581 USD, versus $1,657,020 USD for the prior-year comparative period the six months ended June 30, 2025.

The authorized direction is a decrease against the prior year, so the top line softened at the half-year level even as both individual windows still registered positive reported revenue. - Operating Income (Loss) for the three months ended June 30, 2026 was -$3,494,149 USD and for the six months ended June 30, 2026 was -$7,941,295 USD. The prior-year comparators were -$3,017,638 USD and -$6,476,094 USD respectively.

The authorized direction at both windows is a decrease, with the current and prior results both reading as losses on a loss-to-loss transition. - Net Income (Loss) Attributable to Parent for the three months ended June 30, 2026 was -$3,902,554 USD and for the six months ended June 30, 2026 was -$10,113,118 USD, against -$11,904,018 USD and -$22,807,422 USD for the matching prior-year windows. The authorized direction is an increase at both the quarter and the half-year, on a loss-to-loss transition, consistent with a smaller reported loss against the prior-year comparative even though the company remained in a loss position.

47 per diluted share USD/SHARES respectively. The authorized direction is an increase on a loss-to-loss transition, consistent with the narrower bottom-line loss described above. - The filing evidence does not attribute this change to any single cause.

- Management's own framing in Note 1 is that the Company is in a going-concern situation because current cash is not sufficient to fund commercial-scale production and the related working capital requirements for the next twelve months, and management is evaluating funding alternatives that may include the issuance of equity or debt securities. S. GAAP for interim financial information, prepared under the instructions to 10-Q/A and Regulation S-X, with the prior-year Annual Report on Form referenced as the basis for unchanged footnote disclosures per Note 2.

Reclassifications were made for clarity but had no impact on previously reported totals. - The filing evidence contains no peer or industry comparison. - The filing evidence does not disclose segment-level detail for this dimension.

- For a parallel interim-loss reading, see Lizely Finance Earnings Analysis — Veru Inc. (VERU) Interim Filing: Losses Persist With Mixed Year-over-Year Direction.

Operating drivers and segments

For the three-month reporting period covered by 10-Q/A period-ended-2026-06-30 filed under accession 0001683168-26-006123, CitroTech Inc. (CITR) reported a single operating profile rather than disaggregated business segments. The interim filing describes one product family — the proprietary CitroTech formulation — directed at industrial and wildfire-defense end uses, but no discrete reportable segment, geographic split, or product-line margin is broken out in the cited notes. On that consolidated basis, Operating Income (Loss) for the quarter was -$3,494,149 USD, compared with -$3,017,638 USD for the prior-year quarter, and Operating Income (Loss) for the six-month year-to-date period was -$7,941,295 USD, compared with -$6,476,094 USD for the prior-year half-year. The authorized direction is a year-over-year deterioration into a deeper operating loss on both reporting windows, while the loss-to-loss transition is preserved. The filing evidence does not attribute this change to any single cause.

Revenue showed the opposite direction at the top line. Revenues for the quarter were $280,666 USD, against $687,638 USD in the prior-year quarter, and Revenues for the six-month year-to-date period were $625,581 USD, against $1,657,020 USD in the prior-year half-year. The authorized direction is a year-over-year decline on both windows, so the company is selling less while losing more at the operating line. Because no segment, channel, or geographic decomposition is offered, the margin pressure cannot be attributed to any sub-component of the business from the filing evidence, and no peer or industry comparison is supplied. The filing evidence contains no peer or industry comparison.

Management frames the deterioration around liquidity rather than around operating performance per se. The cited note Note 1 states that management believes current cash is not sufficient to fund commercial-scale production and the related working-capital requirements for the next twelve months, and that those conditions raise substantial doubt about the Company's ability to continue as a going concern for one year following the issuance date of the unaudited interim consolidated financial statements. To alleviate those conditions, management says it is evaluating various funding alternatives and may seek to raise additional funds through the issuance of equity or debt securities. The filing does not separately reconcile the year-over-year revenue and operating-loss movements to specific commercial drivers, pricing actions, or cost programs; the narrative is focused on the going-concern flag and the path to additional capital. The filing evidence does not attribute this change to any single cause.

Independent reading of the segment-free disclosure is therefore limited: the operating drivers behind the widening operating loss cannot be decomposed, and the going-concern qualification in Note 1 is the principal context management offers for the filing. Readers comparing interim results across issuers can place this profile alongside Lizely Finance Earnings Analysis — Veru Inc. (VERU) Interim Filing: Losses Persist With Mixed Year-over-Year Direction to contrast how another loss-making interim disclosure frames its own driver narrative.

Cash flow and capital

, the use of cash was larger in the current period). - Investing cash flow for the six months ended June 30, 2026 was a source of cash of $1,773 USD, compared with a use of cash of -$167,744 USD in the prior-year comparative for the six months ended June 30, 2025; the authorized year-over-year direction is an increase, reflecting a swing from a use to a source of cash. , less cash was raised in the current period).

- Capital expenditures, reported as Payments to Acquire Property, Plant, and Equipment, were $10,727 USD in the six months ended June 30, 2026, versus $167,744 USD in the prior-year comparative for the six months ended June 30, 2025; the authorized year-over-year direction is a decrease, so the company spent less on property, plant, and equipment in the current period than in the prior year. - Because cash from investing was positive (a source) while cash for operating activities was negative (a use), the investing inflow could not be a reinvestment of operating cash generation in the period.

The filing evidence does not attribute this change to any single cause. - Because financing remained a source of cash while operating remained a use, working capital needs and capex were not self-funded from operations in the period. The filing evidence does not attribute this change to any single cause.

- The balance sheet date for the Liquidity Working Group is the balance sheet date of June 30, 2026. Cash and Cash Equivalents, at Carrying Value stood at $2,519,302 USD. - Accounts Receivable, after Allowance for Credit Loss, Current was $165,436 USD as of the balance sheet date of June 30, 2026.

- Accounts Payable and Accrued Liabilities, Current was $221,820 USD as of the balance sheet date of June 30, 2026. - The Convertible Notes policy references bifurcation of conversion options when economic characteristics and risks of the embedded derivative are not clearly and closely related to the host contract, when the hybrid is not re-measured at fair value under otherwise applicable GAAP, and when a separate instrument with the same terms would be a derivative, per Note 2. - The Company carries cash, accounts receivable, prepaid expenses, accounts payable and accrued liabilities, deferred revenue and loans payable at historical cost rather than at fair value, per Note 2.

- The fair value hierarchy used by the Company is described in Level 1, Level 2, and Level 3, per Note 2. - Revenue for the six-month period is described in Note 1 as consisting of a sale of product used for lumber products for fire prevention and on installation of self-contained sprinkler systems, recognized at a point in time when the risks and rewards of ownership transfer. - Deferred revenue, per Note 2, consists of advanced payments for services that have not been rendered.

- Basic and diluted net loss per share for the six months ended June 30, 2026 is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period, with potentially dilutive securities reflected via the treasury stock method for share-based awards and the if-converted method for convertible securities, per Note 2. - A working-capital comparison for receivables, payables, and cash versus the prior balance sheet date is not provided in this filing. The filing evidence does not attribute this change to any single cause.

- The Company has not disclosed segment-level cash flow detail for this period. The filing evidence does not disclose segment-level detail for this dimension. - For context on how cash-use intensity compares across interim filers with similar year-over-year swings, see [Lizely Finance Earnings Analysis — Veru Inc.

(VERU) Interim Filing: Losses Persist With Mixed Year-over-Year Direction](/insights/finance/lizely-finance-earnings-analysis-veru-inc-veru-interim-filing-losses-persist/). - No peer or industry benchmark is available within the filing evidence for cross-comparing cash generation or balance-sheet posture. The filing evidence contains no peer or industry comparison.

Peer and historical context

- CitroTech's top-line softness relative to the prior six-month and prior three-month windows sits in the same direction as the Lizely Finance Earnings Analysis — Veru Inc. (VERU) Interim Filing: Losses Persist With Mixed Year-over-Year Direction narrative, where revenues also stepped lower and the bottom line remained in red, suggesting a wider pattern of revenue contraction paired with continued loss-making among recently reviewed small-cap interim filers. - A two-window view (quarter-on-quarter-prior-year and half-year-on-half-year-prior-year) is offered by the filing itself, but no external peer set, industry index, or pre-filing consensus is included for benchmarking against CitroTech Inc. (CITR) at the 10-Q/A covering period-ended-2026-06-30.

- Operating cash flow direction (the only period where a directional move is reported on the half-year view) is the one figure that softens the loss picture: cash used in operations for the half-year narrowed versus the prior-year half-year, even as reported net loss and operating loss widened on the same comparison, which would normally be a constructive sign, though it is consistent with revenue contraction rather than genuine cash generation. - Revenue, operating result, and net result all moved unfavourably in both the quarter and the half-year, leaving no positive line item on the income side to offset the narrower cash burn.

<prose> Looking at CitroTech Inc.'s interim performance through a year-over-year lens, the picture is uniformly weak on the income statement and modestly improved on the cash-flow line. Revenues for the three-month reporting period were lower than the prior-year comparative three-month period, and the same downward direction holds when the six-month year-to-date period is set against the prior-year comparative six-month period, indicating that the softness is not a one-quarter artefact but extends across both reporting windows of the filing. Operating income (loss) deepened in the same direction on both windows, moving from one loss to a larger loss, and net income (loss) attributable to parent followed the identical transition — loss to loss but wider — on the quarter and on the half-year. The only authorised bright spot is operating cash flow: net cash used in operating activities for the half-year was smaller in magnitude than the prior-year half-year, even though the company remained in net cash consumption rather than net cash generation over the period.

Set against the wider set of small-cap interim readings covered on Lizely Finance, the directional footprint here — revenue down, operating loss deeper, net loss deeper, with a slightly narrower operating cash burn — lines up with the narrative sketched in the Veru Inc. interim review, where losses persisted and year-over-year direction was mixed. That parallel offers some read-across for readers comparing the current 10-Q/A (0001683168-26-006123, 0000894556) with neighbouring small-cap filings, although the comparison is qualitative only; no peer multiples, sector index returns, or consensus estimates are disclosed in the underlying evidence for period-ended-2026-06-30, so any cross-company benchmarking should be treated as directional rather than precise.

Within CitroTech's own history, the year-over-year framework supplied by the filing is the deepest cut available: the quarter view, the half-year view, and the matching prior-year comparatives, supported by the cited note on significant accounting policies and the going-concern framing in the cited organization note. No multi-year history, segment history, or quarter-on-immediately-preceding-quarter bridge is presented in the filing evidence, so trend statements beyond the authorised year-over-year moves would exceed what the catalog supports, and any attempt to attribute the revenue or margin step-down to a single driver is blocked by The filing evidence does not attribute this change to any single cause.. The filing evidence contains no peer or industry comparison.

Scenario analysis

- Reported facts: - The current three-month reporting period shows revenues of $280,666 USD, lower than the prior-year comparative of $687,638 USD for the three months ended June 30, 2025. - The current six-month year-to-date period shows revenues of $625,581 USD, lower than the prior-year comparative of $1,657,020 USD for the six months ended June 30, 2025. - Net loss attributable to the parent was -$3,902,554 USD for the current quarter and -$10,113,118 USD for the current six-month period.

- The prior-year quarter net loss was -$11,904,018 USD, and the prior-year six-month net loss was -$22,807,422 USD. - The 10-Q/A filed under accession 0001683168-26-006123 for period-ended-2026-06-30 for CitroTech Inc. (CITR, CIK 0000894556) is the source of these reported values.

- Management explanations: - Management's discussion frames the company's economics around point-in-time product revenue recognition, deferred service revenue, and the treatment of antidilutive securities in the loss-per-share computation; none of the quoted commentary defines a forward case for revenue or earnings. - The cited note on accounting policies and the cited note on organization describe the going-concern posture and the basis of presentation but do not provide guidance ranges for the next reporting period.

- Analyst inference: - The revenue line contracted on both windows while the bottom line remained a loss, so the base case rests on whether current-quarter revenue momentum can stabilize before further cost absorption. The directional pattern is identical in the three-month and six-month views, which strengthens the inference that the top-line softness is broad rather than confined to a single month. - Because losses narrowed directionally on the bottom line in the authorized comparisons, an upside case hinges on holding the loss-narrowing path while revenue finds a floor; a downside case hinges on revenue continuing to drift lower against a fixed cost base, which would re-widen the loss.

- Comparable interim filings show similar mixed patterns, as seen in Lizely Finance Earnings Analysis — Veru Inc. (VERU) Interim Filing: Losses Persist With Mixed Year-over-Year Direction, which is a useful reference for how loss-narrowing alongside revenue decline typically frames analyst scenarios. - Counter-evidence: - The cited note on stock-based compensation describes equity-instrument amortization but does not point to a near-term operating-margin inflection.

- The recently issued accounting pronouncements referenced in the quoted text are disclosure-oriented rather than valuation drivers, so they do not rebut the revenue-decline narrative. - Antidilutive securities were excluded from the diluted loss-per-share computation in both periods, which means share-count expansion is not currently adding to the reported per-share loss; that mildly cuts against a pure dilution-driven downside read. - Unknowns: - The filing evidence does not contain a peer or industry benchmark for context, so the scenarios below are framed only against the company's own prior-year windows.

- The filing evidence does not attribute this change to any single cause. - The filing evidence contains no peer or industry comparison. - No forward guidance, pipeline data, or contracted backlog figures appear in the quoted evidence, so the magnitude of any revenue rebound cannot be calibrated from this filing alone.

- Scenarios: - In the base scenario, revenues continue at a level near the current six-month run-rate while the bottom-line loss holds at roughly the current scale, leaving the directional pattern unchanged on both windows. - In the upside scenario, revenues stabilize and the loss narrows further on a year-over-year basis, consistent with the authorized direction on the bottom line, without requiring a return to the prior-year revenue level. - In the downside scenario, revenues soften further on top of the current decline and the loss re-widens, reversing the year-over-year narrowing observed in this filing.

Risks and what to watch

- Reported facts drawn from this filing by CitroTech Inc. on 10-Q/A for period-ended-2026-06-30, accession 0001683168-26-006123, show revenues of $280,666 USD for the three-month period the three months ended June 30, 2026, alongside a net loss attributable to parent of -$3,902,554 USD over the same window. The prior-year quarter compares to $687,638 USD and -$11,904,018 USD respectively.

The six-month year-to-date window for the six months ended June 30, 2026 carries revenues of $625,581 USD and a net loss attributable to parent of -$10,113,118 USD, against the prior-year six-month comparative of $1,657,020 USD in revenue and -$22,807,422 USD in net loss. Direction across both windows is that revenue is lower year-over-year and net loss is narrower, but the qualitative bottom line in both periods remains a loss rather than a profit. - Management explanations quoted in Note 2 and Note 1 describe how fair value is measured for PSUs and warrants via Monte Carlo and Black-Scholes frameworks, and they enumerate recently issued ASUs covering expense disaggregation and narrow-scope improvements to interim reporting.

Management states that the impact of those pronouncements is still being evaluated and that no other recently issued pronouncements are expected to have a material effect. Those explanations speak to policy choices and measurement conventions rather than to drivers of the reported loss. - Analyst inference here is limited to authorised direction: revenue is lower than the prior period on both the quarter and the half-year windows, while the net loss attributable to parent is narrower on both windows in a loss-to-loss transition.

Earnings per share, diluted, follow the same authorised pattern. The authorised comparisons say nothing about cause, and the filing evidence does not attribute the change to any single cause, so no driver story is added here. - Counter-evidence in the filing is sparse.

The cited note on going concern is referenced under Note 1, and the risk-factor and legal-proceedings items sit under Item 1A and Item 1. None of the quoted material supplies industry or peer benchmarks against which the revenue contraction could be measured, so any external triangulation would be outside this filing. Readers looking for a peer-anchored read can cross-check interim-filing context against a separately published work such as [Lizely Finance Earnings Analysis — Veru Inc.

(VERU) Interim Filing: Losses Persist With Mixed Year-over-Year Direction](/insights/finance/lizely-finance-earnings-analysis-veru-inc-veru-interim-filing-losses-persist/), but the filing evidence itself contains no peer or industry comparison for CITR. - Unknowns include the underlying volume and price mix behind the revenue decline, the timing of any cash-receipt inflection tied to the lower top line, the cost lines most exposed to the narrower loss, and whether the recently issued ASUs will ultimately trigger expanded interim disclosures.

The filing evidence does not attribute this change to any single cause. - Metrics to watch next period: the next quarter's revenue trajectory relative to the the three months ended June 30, 2026 reading, the next six-month revenue trajectory relative to the six months ended June 30, 2026, the next quarter's net loss attributable to parent relative to -$3,902,554, and the next six-month net loss relative to -$10,113,118. Operating cash usage, capex intensity, and any updates to going-concern language in Note 1 should also be tracked, alongside any risk-factor refresh in Item 1A.