Callan JMB Reports Full Year 2025 Financial Results and Provides Business Update
Rhea-AI Summary
Callan JMB (NASDAQ: CJMB) reported full‑year 2025 results and provided a business update on March 31, 2026. Revenue was $5.7M versus $6.6M in 2024; gross profit $2.1M and loss from operations $7.0M. Cash and cash equivalents were $2.1M.
The company highlighted new commercial agreements including a manufacturing oversight deal with Attune, a joint venture with Revival Health, expansion into India, renewed government contracts (Chicago and Oregon), vaccine lease programs, and an upgraded Sentry Monitoring System.
Positive
- Chicago contract extended with $1.5M increase to $9.1M total
- Oregon Health Authority awarded a second five‑year preparedness contract
- Manufacturing oversight agreement signed with Attune for multi‑asset pipeline
- Joint venture established with Revival Health to scale U.S. logistics
- India expansion launched with planned temperature‑controlled warehouse in Pune
Negative
- Revenue declined 13.6% from $6.6M to $5.7M year‑over‑year
- SG&A expenses increased to $8.6M from $4.8M, driven by IPO and IT costs
- Loss from operations widened to a $7.0M loss versus $2.3M loss in 2024
- Cash and cash equivalents of $2.1M at December 31, 2025
Key Figures
Market Reality Check
Peers on Argus
CJMB fell 9.38% while logistics peers were mixed: some up (e.g., ATXG +5.57%, PSIG +2.69%) and others down (e.g., NCEW -0.48%), pointing to a stock-specific reaction.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 14 | Q3 2025 earnings | Positive | +3.6% | Reported Q3 and year-to-date revenue growth with multiple expansion initiatives. |
| Aug 14 | Q2 2025 earnings | Positive | -3.1% | Q2 2025 results with new partnerships and an India subsidiary plus equity line. |
| May 15 | Q1 2025 earnings | Positive | -0.7% | Post-IPO Q1 2025 results with revenue growth but higher SG&A and net loss. |
| Mar 28 | FY 2024 earnings | Positive | +6.2% | Full-year 2024 metrics with new contracts and vaccine lease program launch. |
Earnings releases have produced mixed reactions, with two positive and two negative moves despite generally growth-focused updates.
Across four prior earnings updates from Mar 2025 to Nov 2025, Callan JMB reported modest revenue levels, recurring operating losses, and highlighted expansion into healthcare logistics, India operations, and vaccine programs. Price reactions ranged from about -3% to +6%, showing no consistent upside or downside pattern. Today’s full-year 2025 results, showing lower revenue and a larger operating loss, extend the narrative of investment in growth against a pressured core emergency-preparedness base.
Historical Comparison
Past earnings releases moved CJMB about ±1.49% on average. A move of -9.38% on these 2025 results would significantly exceed typical earnings-day volatility.
Earnings updates track progression from IPO through quarterly 2025 results to full-year reporting, with recurring operating losses alongside expansion into new logistics verticals and geographies.
Market Pulse Summary
This announcement highlights full-year 2025 results with revenue of $5.7M, a wider operating loss of $7.0M, and cash of $2.1M, alongside deeper government relationships and new healthcare and food logistics initiatives. Investors may focus on how quickly growth agreements and joint ventures translate into higher-margin revenue, while monitoring SG&A at $8.6M. Comparing these figures to prior earnings updates helps gauge whether contract extensions and onshoring efforts offset softer emergency-preparedness demand.
Key Terms
cold chain logistics technical
cGMP facility regulatory
HTML5 technical
AI-generated analysis. Not financial advice.
The Company Deepened its Government Relationships at Both State and Federal Levels, Particularly to Support Onshoring Initiatives, While Reinforcing the Strength and Stability of Core Emergency Preparedness Operations
Built Momentum Across Several Growth Initiatives with Healthcare and Food Manufacturing Partners
SPRING BRANCH, Texas, March 31, 2026 (GLOBE NEWSWIRE) -- Callan JMB INC. (NASDAQ: CJMB) (“Callan JMB” or the “Company”), an integrative logistics company empowering the healthcare industry and emergency management agencies through fulfillment, storage, monitoring, and cold chain logistics services, today announced its financial results for the full year ended December 31, 2025 and is providing shareholders with a business update.
“Throughout 2025 and into the new year, while our emergency preparedness business has remained the core to our operations there are several critical initiatives Callan JMB is actively pursuing with significant growth potential,” commented Wayne Williams, CEO, Chairman & Founder of Callan JMB. “Our long history and established relationships across both the state and federal levels continue to be a driver for us as potential partners seek out our knowledge and expertise. While we are focused on maintaining exceptional service levels in emergency preparedness, we are also expanding our pharmaceutical logistics and specialty distribution operations, as well as advancing U.S. onshoring initiatives. Callan JMB operates at the rigorous quality standards required for pharmaceutical distribution and our recent partnership with Attune represents a meaningful acknowledgement of our leadership in this space.”
“As we look ahead into the remainder of 2026, we are focused on strengthening our core infrastructure, scaling our readiness capabilities, and advancing our strategic growth initiatives in high velocity sectors such as healthcare and food logistics. We are committed to long-term shareholder value creation by building a resilient, mission-driven organization positioned at the center of critical healthcare and national preparedness supply chains,” concluded Mr. Williams.
Business Highlights to Date:
- Signed a manufacturing oversight, federal deployment, and commercialization agreement of multi-asset therapeutic pipeline with Biostax Corp d/b/a Attune Biotech Inc. (“Attune”), a clinical-stage biopharmaceutical company with a diversified therapeutic pipeline, to serve as independent third-party overseer of Attune 's manufacturing, quality assurance and control, and deployment operations for Attune’s pipeline of multiple clinical and commercial-stage assets whose focus is on addressing significant unmet medical needs.
- Advanced multiple growth initiatives with global healthcare manufacturing leaders.
- Established a joint venture with Revival Health, to integrate logistics, shipping systems, bioservices, and data infrastructure to support Revival Health’s imports and U.S.-based manufacturing.
- Launched Callan JMB Services (India) Private Limited with planned temperature-controlled warehouse in Pune, Maharashtra for pharmaceutical storage and distribution.
- Secured an agreement with Walker's Pharmaceuticals Ltd. and working with additional Indian companies to facilitate U.S. market entry and manufacturing plant establishment.
- Entered a preliminary agreement with the maker of an oral drug delivery system to install its innovative manufacturing equipment in Callan JMB’s cGMP facility in Texas.
- Strengthened core emergency preparedness operations, further deepening both state and federal relationships.
- Extended emergency preparedness contract with the City of Chicago through June 2026 with
$1.5 million funding increase, bringing total contract value to$9.1 million . - Awarded a second five-year contract by the Oregon Health Authority (OHA) for medical emergency preparedness and response services.
- Appointed former Assistant Commissioner of the Chicago Department of Public Health, Christopher Shields, as Senior Vice President, Emergency Preparedness & Response/Government Affairs.
- Supported Texas and New Mexico in the response to measles outbreak in each state by redistributing doses of the MMR II vaccine from Chicago to their respective states.
- Announced a new comprehensive lease program for vaccine management that enables government agencies and private organizations to provide crucial immunizations without the economic burden of purchasing the necessary equipment outright.
- Successful administration of immunizations across 44 Tennessee counties through its partnership with Health Hero Tennessee out of a dedicated operations center set up by Callan JMB.
- Extended emergency preparedness contract with the City of Chicago through June 2026 with
- Entered the food sampling sector by expanding the Company’s reclamation operations.
- Upgraded the proprietary Sentry Monitoring System, transitioning from Java to HTML5 to enable healthcare facilities and emergency management agencies to monitor temperature-sensitive pharmaceutical storage from any web-enabled device without downloading additional software.
Financial Highlights for the Full Year Ended December 31, 2025:
- Revenues for the twelve months ended December 31, 2025, was
$5.7 million compared to$6.6 million for the twelve months ended December 31, 2024. The decrease in revenue was due to the decrease in demand for our emergency preparedness services by certain states and local governments. - Cost of revenues for the twelve months ended December 31, 2025, was
$3.6 million compared to$4 million for the twelve months ended December 31, 2024. The decrease in cost of revenue was primarily attributed to a decrease in revenue. - Gross profit for the twelve months ended December 31, 2025, was
$2.1 million compared to$2.6 million for the twelve months ended December 31, 2024. - SG&A expenses for the twelve months ended December 31, 2025, were
$8.6 million compared to$4.8 million for the twelve months ended December 31, 2024. The increase was primarily driven by increases in professional fees to support the Company’s initial public offering and becoming a public entity, as well as increases in information technology support costs. - Loss from operations for the twelve months ended December 31, 2025, was
$7.0 million compared to a loss of$2.3 million for the twelve months ended December 31, 2024. - Cash and cash equivalents for the period ended December 31, 2025, were
$2.1 million .
About Callan JMB Inc.
Callan JMB Inc. is an integrative logistics company empowering the healthcare industry and emergency management agencies through fulfillment, storage, monitoring, and cold chain logistics services to secure medical materials and protect patients and communities with compliant, safe, and effective medicines. Our combined expertise in supply chain logistics, thermodynamics, biologics, inventory management, regulatory compliance and emergency preparedness is unparalleled in the industry. We offer a gold standard in client experience with customizable interfaces, next-level reliability in shipping and environmental sustainability in our specialty packaging.
Forward-Looking Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs, such as “will,” “should,” “would,” “may,” and “could,” are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance, or achievements to be materially different from any anticipated results, performance, or achievements for many reasons. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company’s forward-looking statements, please see the Company’s Registration Statement Under the Securities Act of 1933 on Form S-1, including but not limited to the discussion under “Risk Factors” therein, which the Company filed with the SEC and which may be viewed at http://www.sec.gov/.
Investor Contacts:
Valter Pinto, Managing Director
KCSA Strategic Communications
CallanJMB@kcsa.com
212.896.1254
CALLAN JMB INC.
(Formerly known as Coldchain Technology Services, LLC)
CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2025 and 2024
| 2025 | 2024 | |||||||
| Assets | ||||||||
| Current Assets: | ||||||||
| Cash and cash equivalents | $ | 2,130,758 | $ | 2,097,945 | ||||
| Accounts receivable, net of allowance for credit losses of | 343,246 | 622,914 | ||||||
| Inventory | 243,285 | 158,362 | ||||||
| Related party loans | - | 18,669 | ||||||
| Tax refund receivable | - | 6,377 | ||||||
| Other current assets | 341,311 | 278,896 | ||||||
| Deferred offering costs | - | 136,025 | ||||||
| Total current assets | $ | 3,058,600 | 3,319,188 | |||||
| Right of use assets – operating lease | 1,917,563 | 883,029 | ||||||
| Property and equipment, net of accumulated depreciation of | 799,538 | 876,682 | ||||||
| Security deposit | - | 3,650 | ||||||
| Total assets | $ | 5,775,701 | $ | 5,082,549 | ||||
| Liabilities and Stockholders’ Equity | ||||||||
| Current Liabilities: | ||||||||
| Accounts payable | $ | 564,014 | $ | 371,661 | ||||
| Accrued expenses | 502,183 | 506,381 | ||||||
| Corporate taxes payable | 23,085 | 23,000 | ||||||
| Deferred revenue | - | 94,097 | ||||||
| Right of use liability – operating lease | 323,935 | 279,176 | ||||||
| Total current liabilities | 1,413,217 | 1,274,315 | ||||||
| Right of use liability – operating lease | 1,663,229 | 628,274 | ||||||
| Derivative liability | 371,216 | - | ||||||
| Deferred tax liabilities | - | 6,602 | ||||||
| Total long-term liabilities | $ | 2,034,445 | 634,876 | |||||
| Total liabilities | $ | 3,447,662 | 1,909,191 | |||||
| Commitments and contingencies – Note 7 | ||||||||
| Stockholders’ Equity | ||||||||
| Preferred stock - authorized 10,000,000 shares, | - | - | ||||||
| Common stock - authorized 190,000,000 shares, par value | 4,860 | 3,000 | ||||||
| Additional paid in capital | 12,583,193 | 5,464,006 | ||||||
| Accumulated deficit | (10,260,014 | ) | (2,293,648 | ) | ||||
| Total stockholders’ equity | $ | 2,328,039 | $ | 3,173,358 | ||||
| Total liabilities and stockholders’ equity | $ | 5,775,701 | $ | 5,082,549 | ||||
The accompanying notes are an integral part of these consolidated financial statements.
CALLAN JMB INC.
(Formerly known as Coldchain Technology Services, LLC)
CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2025 and 2024
| 2025 | 2024 | |||||||
| Revenue | $ | 5,723,178 | $ | 6,563,412 | ||||
| Cost of revenue | 3,618,637 | 4,000,149 | ||||||
| Gross profit | 2,104,541 | 2,563,263 | ||||||
| Selling, general and administrative expenses | 8,597,032 | 4,838,077 | ||||||
| Impairment loss on property and equipment | 542,088 | - | ||||||
| Income (Loss) from operations | (7,034,579 | ) | (2,274,814 | ) | ||||
| Other income (expenses) | ||||||||
| Interest income | 8,691 | 11,904 | ||||||
| Interest expense | (2,675 | ) | (5,372 | ) | ||||
| ELOC facility transaction expenses | (569,552 | ) | - | |||||
| Changes in fair value of derivative liability (see Note 8) | (371,216 | ) | - | |||||
| Total other income (expenses) | (934,752 | ) | 6,532 | |||||
| Income (Loss) before income taxes | (7,969,331 | ) | (2,268,282 | ) | ||||
| Provision (benefit) for income taxes | (2,965 | ) | 25,366 | |||||
| Net income (loss) | $ | (7,966,366 | ) | $ | (2,293,648 | ) | ||
| Weighted average common shares outstanding – basic and diluted (See Notes 3 and 4) | 4,379,624 | 2,630,137 | ||||||
| Net loss per common share - basic and diluted (See Notes 3 and 4) | $ | (1.82 | ) | $ | (0.87 | ) | ||
The accompanying notes are an integral part of these consolidated financial statements.
CALLAN JMB INC.
(Formerly known as Coldchain Technology Services, LLC)
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2025 and 2024
| 2025 | 2024 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (7,966,366 | ) | $ | (2,293,648 | ) | ||
| Adjustment to reconcile net loss to net cash provided by (used in) operating activities: | ||||||||
| Provision (Recovery) for credit losses | 230,190 | (131,000 | ) | |||||
| Depreciation and amortization | 151,952 | 143,691 | ||||||
| Changes in fair value of derivative liability | 371,216 | - | ||||||
| Other non-cash expenses relating to ELOC Facility | 519,552 | - | ||||||
| Stock based compensation | 1,559,756 | - | ||||||
| Impairment loss on property and equipment | 542,088 | - | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | 49,478 | 2,407,236 | ||||||
| Inventory | (84,923 | ) | (43,623 | ) | ||||
| Tax refund receivable | 6,377 | (6,377 | ) | |||||
| Other current assets | (58,765 | ) | (42,909 | ) | ||||
| Operating lease liabilities | 45,180 | 15,514 | ||||||
| Accounts payable and accrued expenses | 188,155 | 461,958 | ||||||
| Deferred revenue | (94,097 | ) | 73,909 | |||||
| Corporate taxes payable | 85 | (44,000 | ) | |||||
| Deferred tax liabilities | (6,602 | ) | (398 | ) | ||||
| Net cash provided by (used in) operating activities | $ | (4,546,724 | ) | $ | 540,353 | |||
| Cash flows used in investing activity: | ||||||||
| Purchase of property and equipment | (616,896 | ) | (46,167 | ) | ||||
| Net cash used in investing activity | $ | (616,896 | ) | $ | (46,167 | ) | ||
| Cash flows from (used in) financing activities: | ||||||||
| Related party receivable | - | 3,300 | ||||||
| Related party loans | 18,669 | (17,073 | ) | |||||
| Deferred offering costs | 136,025 | (111,025 | ) | |||||
| Partner distributions | - | (3,328,254 | ) | |||||
| Net change note payable | - | (98,809 | ) | |||||
| Proceeds from IPO and overallotment, net | 4,543,989 | - | ||||||
| Proceeds from offering of ELOC shares | 497,750 | - | ||||||
| Net cash provided by (used in) financing activities | $ | 5,196,433 | $ | (3,551,861 | ) | |||
| Increase (decrease) in cash and cash equivalents | 32,813 | (3,057,675 | ) | |||||
| Cash and cash equivalents at beginning of period | 2,097,945 | 5,155,620 | ||||||
| Cash and cash equivalents at end of period | $ | 2,130,758 | $ | 2,097,945 | ||||
| Supplemental disclosures of cash flow information: | ||||||||
| Cash paid for interest | $ | 2,675 | $ | 5,372 | ||||
| Initial recognition of derivative liability | 974,309 | - | ||||||
| Right of use assets acquired and corresponding operating lease liability | $ | 708,321 | $ | - | ||||
| Right-of-use assets and corresponding lease liabilities due to lease modifications | $ | 628,407 | $ | 900,133 | ||||
| Reduction in allowance for credit losses | - | $ | 163,000 | |||||
| Membership exchange for common stock | $ | - | $ | 5,410,007 | ||||
| Fair value of Stock Warrants issued at IPO | $ | 144,358 | $ | - | ||||
| Deferred offering costs charged to additional paid-in-capital | $ | 136,025 | $ | - | ||||
| Par value of shares issued for restricted stock award units vesting | $ | 75 | $ | - | ||||
| Commitment shares adjustment to APIC | $ | 78,000 | $ | - | ||||
| Other non-cash ELOC expenses | $ | 441,552 | $ | - | ||||
The accompanying notes are an integral part of these consolidated financial statements.
FAQ
What were Callan JMB (CJMB) full‑year 2025 revenues and net operating loss?
What contract updates did CJMB announce on March 31, 2026 affecting municipal revenue?
How is Callan JMB (CJMB) expanding its pharmaceutical logistics and manufacturing footprint?
Why did CJMB’s SG&A rise sharply in fiscal 2025 and how did it affect results?
What operational product and service innovations did Callan JMB (CJMB) highlight in 2025?
