EvoAir Holdings Posts $1.92M Net Loss in H1 FY2026 as Operating Deficit Persists
EvoAir Holdings Inc., a Nevada-based small-cap firm, reported a net loss of $1.92 million for the six months ending February 28, 2026, a 67% improvement from the $5.76 million loss a year earlier.
EvoAir Holdings Inc., a Nevada-based small-cap company, reported a net loss of $1.92 million for the six months ending February 28, 2026, compared to a net loss of $5.76 million for the same period a year earlier. The company's operating loss narrowed to $2.04 million from $5.92 million in the prior-year period. Read more earnings reports.
For the three months ending February 28, 2026, the company posted a net loss of $939,020, an improvement from the $1.21 million loss reported in the same quarter of fiscal 2025. Operating losses for the quarter narrowed to $1.00 million from $1.28 million year-over-year.
The company reported gross profit of $3,210 for the six-month period, a sharp reversal from a gross loss of $37,123 in the prior year. Cost of revenue fell to $84,829 from $160,176. Operating expenses declined to $2.05 million from $5.88 million as the company reduced its cost base.
Cash and cash equivalents stood at $45,835 as of February 28, 2026, down from $93,329 at the end of fiscal 2025. The company burned $716,152 in cash from operations during the six-month period, compared to $738,395 in the prior year. Financing activities brought in $853,410, up from $744,728 a year earlier.
Current liabilities rose to $4.07 million as of February 28, 2026, from $3.21 million at the end of August 2025. Total assets declined to $44.36 million from $45.69 million. Accounts payable fell to $141,198 from $224,949 over the same period.
The company's accumulated deficit widened to $55.95 million from $54.03 million. Basic and diluted loss per share for the six-month period was $0.07, compared to $0.22 in the prior year. The share count remained flat at 27.18 million shares outstanding.
| Metric | Six Months Ending Feb 28, 2026 | Six Months Ending Feb 28, 2025 |
|---|---|---|
| Net Loss | $1,917,162 | $5,761,223 |
| Operating Loss | $2,043,299 | $5,916,344 |
| Gross Profit (Loss) | $3,210 | ($37,123) |
| Operating Expenses | $2,046,509 | $5,879,221 |
| Cash from Operations | ($716,152) | ($738,395) |
| EPS (Basic & Diluted) | ($0.07) | ($0.22) |
Total liabilities increased to $4.08 million from $3.25 million, while current assets declined to $505,415 from $527,748. Inventory rose to $339,937 from $316,508. Property, plant, and equipment decreased to $250,887 from $264,557.