Beyond Oil Reports Second Quarter 2026 Financial Results and Provides Business Update
Rhea-AI Summary
Beyond Oil (OTCQB: BEOLF) reported Q2 2026 revenue of $1.396 million, up 28% year-over-year and 11% sequentially, with first-half 2026 revenue of $2.651 million, up 26% versus 2025. Q2 gross profit was $0.589 million and gross margin declined to 42.2% from 56.3%, reflecting inventory and channel mix during the transition to a U.S.-focused direct-sales model.
Total Q2 operating expenses rose to $3.013 million, mainly from a 63% increase in sales and marketing tied to U.S. commercial expansion. Net loss was $2.088 million (–$0.03 per share). The company ended June 30, 2026 with $4.535 million in cash and short-term deposits, positive working capital of $9.037 million, a current ratio of about 7.4x, and shareholders’ equity of $12.328 million. Recent commercial milestones include expanded rollout with a top-tier U.S. supermarket brand, initial sales to a U.S. fast-food chain and premium casual dining chain, and distribution access via Sysco Los Angeles.
Positive
- Q2 2026 revenue $1.396M, up 28% year-over-year and 11% sequentially
- H1 2026 revenue $2.651M, a 26% increase versus H1 2025
- Working capital $9.037M with an approximate 7.4x current ratio at June 30, 2026
- Net loss H1 2026 $3.951M versus $11.861M in H1 2025
- Approved rollout with second ownership group of a top-tier U.S. supermarket brand across 14 locations
- Vendor approval and initial rollout across 70 U.S. premium casual dining restaurants in the southeast
Negative
- Q2 2026 gross margin declined to 42.2% from 56.3% in Q2 2025
- Total operating expenses increased to $3.013M from $2.374M year-over-year in Q2
- Q2 2026 net loss widened to $2.088M from $0.853M in Q2 2025
- Cash and short-term deposits fell to $4.535M from $8.820M since December 31, 2025
AI-generated analysis. How Rhea-AI works. Not financial advice.
Record Quarterly Revenue of
Deliberate Investment in Building the U.S. Direct-Sales Foundation Aimed at Unlocking Significant Long Term Growth Opportunities
VANCOUVER, British Columbia, Aug. 14, 2026 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (TSX: BOIL) (OTCQB: BEOLF) (“Beyond Oil” or the “Company”), a food-tech innovation company dedicated to reducing health risks associated with fried food while lowering operational costs, improving food quality, minimizing waste and enhancing sustainability, today reported its financial results for the second quarter ended June 30, 2026, and provided a business update.
“Our Q2 2026 results delivered record quarterly revenue while we continued to make deliberate investments in the United States. direct-sales infrastructure required to support substantially larger enterprise customers,” said Jonathan Or, CEO of Beyond Oil. “Revenue grew
The following disclosure does not constitute full disclosure of the Company’s financial and operational condition and is qualified in its entirety by, and should be read in conjunction with, the Company’s Management Discussion and Analysis for the period ending June 30, 2026 (the “MD&A”) and corresponding financial statements available at www.sedarplus.ca.
Q2 2026 Financial Highlights
*All Figures in USD unless specifically mentioned otherwise
Revenue Growth
Beyond Oil reported revenue of
Gross Margin – Supporting End-Customer Adoption and Scale
Gross profit for Q2 2026 was
Operating Expenses – Investment in U.S. Commercial Infrastructure
Total operating expenses for Q2 2026 were
Liquidity & Balance Sheet
The Company ended the quarter with cash, cash equivalents and short-term deposits of
Net Loss
Net loss for Q2 2026 was
Recent Business Highlights
U.S. Supermarket Vertical Expansion: In March 2026, Beyond Oil announced its entry into the U.S. supermarket segment through a multi-phase commercial rollout with a top-tier U.S. supermarket brand across an initial group of stores. Subsequent to quarter-end, on July 30, 2026, the Company was approved by a second ownership group of the same brand for a commercial rollout across 14 additional high-volume supermarket locations, four of which were already operational at the time of the announcement. The applicable brand is ranked among the top 30 North American food retailers according to Progressive Grocer’s 2025 PG 100 ranking.
Commercial Momentum in U.S. Fast-Food and Casual Dining: In May 2026, following extensive pilot activity that began in late 2025 and expanded during the first quarter of 2026, the Company commenced initial commercial sales with a U.S.-based fast-food chain with hundreds of locations across the U.S and internationally, with initial rollout across three franchisees in three U.S. states. In the premium casual dining segment, the Company was approved as a vendor by a U.S. chain, with initial rollout across 70 restaurants in the southeastern U.S., and expects to extend the rollout across the chain’s broader U.S. restaurant group. Distribution of the Beyond Oil product through Sysco Los Angeles, a subsidiary of Sysco Corporation, commenced during the first quarter of 2026; approved-vendor status and an assigned SUPC enable additional Sysco operating companies throughout the U.S. to onboard the product if they choose to do so, creating a scalable pathway for broader distribution.
Advancing the U.S. Enterprise Pipeline: Beyond Oil is actively advancing a portfolio of tier-one U.S. enterprise opportunities across its target verticals. These engagements typically involve longer and more complex commercial cycles than the Company's historical distributor sales, and are the primary focus of the Company's U.S. direct-sales investment in 2026. In support of these pursuits, the Company has continued to build out its U.S. direct-sales team and to refine the underlying commercial infrastructure, including its ideal-customer profile, pricing framework, and pilot-to-rollout process, based on execution learnings across an expanding base of multi-location commercial customers. Management believes that successful conversion of such tier-one U.S. enterprise customers into broad, recurring adoption could materially change the Company's revenue scale, and considers these engagements the highest-value use of the Company's commercial resources at the current stage.
Revenue Execution Phase and Global Partnership Portfolio Refinement: In May 2026, the Company announced the next phase of its global commercialization strategy: a direct account-based commercial model focused on tier-one, multi-location strategic customers across the quick-service, casual dining, hotels, catering, food retail, and convenience verticals, with the U.S. as the primary growth market. In parallel, Beyond Oil deliberately streamlined its international partnership portfolio, discontinuing its master distribution agreements with Latitude Ltd. (U.S. and Ukraine) and T&J Oil Pty Ltd. (Australia), and transitioning its Indian distribution relationship (Deep Frying Solutions Pvt Ltd) to a non-exclusive basis. The direct-sales structure carries meaningfully more attractive economics than the Company's historical distributor model, positioning Beyond Oil to capture the full value of its tier-one U.S. enterprise engagements and to support a structurally higher gross margin as the commercial base scales.
Selected Financial Highlights
| Three months ended June 30, | Six months ended June 30, | |||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||
| (U.S. dollars in thousands, except per share) | ||||||||||||
| Revenue | $ | 1,396 | $ | 1,093 | $ | 2,651 | $ | 2,104 | ||||
| Gross profit | 589 | 615 | 1,256 | 1,128 | ||||||||
| Gross margin | ||||||||||||
| Total operating expenses | (3,013 | ) | (2,374 | ) | (5,746 | ) | (4,588 | ) | ||||
| Loss from operations | (2,424 | ) | (1,759 | ) | (4,490 | ) | (3,460 | ) | ||||
| Net loss | $ | (2,088 | ) | $ | (853 | ) | $ | (3,951 | ) | $ | (11,861 | ) |
| Basic and diluted loss per share | $ | (0.03 | ) | $ | (0.01 | ) | $ | (0.05 | ) | $ | (0.18 | ) |
| As of June 30, 2026 | As of December 31, 2025 | |||
| (U.S. dollars in thousands) | ||||
| Cash and cash equivalents | $ | 4,185 | $ | 3,820 |
| Short-term deposit | 350 | 5,000 | ||
| Cash and cash equivalents plus short-term deposit | $ | 4,535 | $ | 8,820 |
| Total current assets | 10,449 | 13,675 | ||
| Total assets | $ | 13,975 | $ | 17,211 |
| Total current liabilities | 1,412 | 1,962 | ||
| Total shareholders' equity | $ | 12,328 | $ | 15,083 |
Investor Relations Update
As Beyond Oil matures and expands its commercial footprint and its relationships with investors globally, the Company seeks to maintain strong engagement with capital markets participants across its key markets. Accordingly, on July 29, 2026, the Company announced that it had engaged CapitaLynx Ltd. (doing business globally as "Arx") as its global capital markets and investor relations advisor. The Company and Arx have subsequently expanded the scope of their engagement for a period of sixty (60) days commencing August 14, 2026, during which Arx will provide the Company with expanded, technology-enabled cross-border investor targeting, engagement and research services, including expanded access to Arx's proprietary Wall Street Wire investor coverage network. In consideration for the expanded scope, the Company will pay Arx an additional one-time cash fee of US
About Beyond Oil Ltd.
We all love fried food. Let’s make it better. Not by changing what people love. By improving the system behind it. Beyond Oil Ltd. (TSX: BOIL) (OTCQB: BEOLF) is a food-tech innovation company on a mission to help foodservice operators improve fried food across every dimension that matters: quality, health, consistency, safety, sustainability and profitability. We achieve these outcomes by improving the system behind every kitchen, the frying performance and oil management that determine what lands on the plate. The Company’s patented technology, cleared by the FDA and Health Canada, integrates into existing kitchen workflows to improve frying performance and oil management, helping operators deliver more consistent food, strengthen operational control and reduce oil waste. Beyond Oil’s solution serves restaurant chains, supermarkets, hotels, catering, institutions and industrial frying operations worldwide, turning frying into a measurable, repeatable and scalable brand standard. The result is a better frying standard, helping every fryer, every shift and every plate live up to the food people love. For more information, please visit: www.beyondoil.co.
Forward-Looking Statements and Information
This news release contains “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of other relevant securities legislation, including applicable securities laws in Canada, which reflect Beyond Oil Ltd.’s current views with respect to, among other things, its operations and financial performance (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions and which are in turn based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of Beyond Oil Ltd. are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. Although Beyond Oil Ltd. believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, certain factors, risks and uncertainties, which are described from time to time in our documents filed with the securities regulators in the USA and Canada, as well as factors not presently known to Beyond Oil Ltd., or that Beyond Oil Ltd. currently believes are not material, could cause actual results to differ materially from those contemplated or implied by forward-looking statements. Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release. Except as required by law, Beyond Oil Ltd. undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, whether as a result of new information, future events or otherwise.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Company Contact:
Adi Olesker, VP of Investor Relations
Phone: +972-50-694-2517
adio@beyondoil.co
Investor Relations Contact:
Arx Investor Relations
North American Equities Desk
BOIL@arxhq.com
