Skkynet Cloud Systems Swings to $226,509 Net Loss in Q1 FY2026

Skkynet Cloud Systems, Inc., a Nevada-incorporated provider of cloud-based software solutions, swung to a net loss of $226,509 for the three months ending January 31, 2026, compared with net income of $229,063 in the year-earlier period. The loss per share was negligible on both a basic and diluted basis. Read more earnings reports.

Revenue for the quarter dropped 34% to $549,393 from $828,052 a year earlier. Operating expenses climbed to $766,608 from $629,815, pushing the company to an operating loss of $217,215 versus operating income of $198,237 in the prior-year quarter.

The company reported other income of $11,684 and recorded income tax expense of $3,817 for the quarter. A year earlier, other income totaled $9,752 with no tax expense.

Cash flow from operations was negative $42,643 for the quarter, a reversal from positive $157,268 in the same period last year. The company paid dividends totaling $122,010 during the three months.

Cash and restricted cash stood at $1.39 million as of January 31, 2026, down from $1.43 million at the end of the prior fiscal year on October 31, 2025. Total assets declined to $1.78 million from $1.83 million over the same period.

Stockholders' equity fell to $868,843 from $1.03 million at fiscal year-end, driven by the quarterly loss and dividend payments. The company had 53.1 million common shares outstanding at quarter-end, unchanged from the prior period.

Total liabilities increased to $912,098 from $803,299 as of October 31, 2025. Accounts receivable declined slightly to $365,651 from $376,830 over the same three-month span.

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