Sky Quarry Inc. SKYQ
We operate a regional refinery (the Eagle Springs Refinery) producing diesel, vacuum gas oil (VGO), naphtha and liquid paving asphalt from crude oil suppliers in the Uintah basin near Nevada and Utah. In addition to our goal of growing the refinery, we have a separate division in the development-stage (P.R. Springs) formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soil, providing sustainable refined crude products. We anticipate several benefits from the recycling and production of oil from asphalt shingles reducing the dependence on landfills for the disposal of waste and reducing dependence on foreign oil.
We have developed a process for separating oil from oily sands and other oil-bearing solids utilizing a proprietary solvent, which we refer to as our ECOSolv technology or the ECOSolv process. The solvent is used in a closed-loop distillation and evaporation circuit which results in up to 99% of the solvent being recoverable for continuous reuse and requires no water. The solvent has demonstrated oil separation rates of up to 95% in bench testing using samples of both mined crushed ore and ground asphalt shingles. Bench testing was conducted in house, and through unaffiliated third parties which were completed in May and August 2022.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cost of revenue | $15.6M | $24.8M | $48.4M | — |
| Gross profit | -$3.1M | -$1.4M | $2.3M | — |
| SG&A | $6.1M | $6.1M | $3.7M | — |
| Total operating expenses | $6.1M | $6.1M | $3.7M | — |
| Operating income | -$9.2M | -$7.5M | -$1.4M | — |
| Interest expense | $3.2M | $6.5M | $3.6M | — |
| Pre-tax income | -$12.2M | -$14.7M | -$4.3M | — |
| Income tax | $0 | $0 | $185.5K | — |
| Net income | -$12.2M | -$14.7M | -$4.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $805.7K | $3.3M | $4.7M | $1.4M |
| Receivables | $4.7K | $1.1M | $3.5M | $4.2M |
| Inventory | $678.4K | $3.1M | $2.4M | — |
| Total current assets | $1.3M | $5.0M | $6.4M | — |
| Property, plant and equipment | $5.1M | $6.2M | $6.3M | — |
| Goodwill | $3.2M | $3.2M | $3.2M | — |
| Total assets | $19.2M | $26.9M | $28.2M | — |
| Accounts payable | $4.5M | $4.0M | $4.9M | — |
| Total current liabilities | $15.1M | $12.4M | $12.9M | — |
| Total liabilities | $16.0M | $15.4M | $15.1M | — |
| Retained earnings | -$36.2M | -$24.0M | -$9.2M | — |
| Total equity | $3.2M | $11.5M | $13.1M | $16.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$3.3M | -$7.5M | -$376.1K | — |
| Stock-based compensation | $659.1K | $632.2K | $634.8K | — |
| Capital expenditure | $133.6K | $691.5K | $664.6K | — |
| Investing cash flow | -$368.1K | -$1.5M | -$731.9K | — |
| Financing cash flow | $1.1M | $7.6M | $4.5M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001096906-26-000438.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Gross profit | — | $2.3M | -$1.4M | -$3.1M |
| Net income | — | -$4.4M | -$14.7M | -$12.2M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed Item 1.01
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 4955
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| CLH | CLEAN HARBORS INC | $16.85B | 43.8x | 2.4% |
| PESI | PERMA FIX ENVIRONMENTAL SERVICES INC | $257.4M | — | 4.3% |