ALTEX Industries, Inc. reported its financial results for the fiscal year ending September 30, 2025, revealing a total revenue of $18 million, a decrease from $23 million in the previous year. The company's net income shifted from a profit of $437,000 in 2024 to a loss of $192,000 in 2025. This decline in profitability was primarily attributed to a significant reduction in oil and gas sales, which fell from $23 million to $18 million, alongside increased operating expenses that rose from $240,000 to $325,000.
The company's operating expenses saw notable changes, with general and administrative costs increasing from $233,000 to $320,000. This rise was a key factor in the overall increase in total operating expenses. Additionally, while other income surged from $115,000 to $654,000 in 2024 due to a gain on the sale of assets, the absence of similar gains in 2025 contributed to the overall decline in net income. The company reported a basic and diluted loss per share of $0.02 for 2025, compared to earnings of $0.04 per share in the prior year.
In terms of operational developments, ALTEX Industries maintained a steady employee headcount, with no significant changes reported. The company continues to operate in the oil and gas sector, focusing on non-working interests in properties located in Utah and Wyoming. The company’s oil and gas reserves increased from 2,000 barrels in 2024 to 2,400 barrels in 2025, indicating a positive revision in previous estimates. However, the company remains heavily reliant on a small number of customers, with one customer accounting for 81% of oil and gas sales in 2025, up from 80% in 2024.
Looking ahead, ALTEX Industries has expressed cautious optimism regarding its future operations, despite the challenges faced in the current fiscal year. The company continues to monitor market conditions and is focused on strategic decisions that may enhance its financial performance. The management has indicated that it will explore opportunities for geographic expansion and product adoption to improve revenue streams. However, the company also acknowledges the uncertainties associated with fluctuating oil and gas prices, which could impact future profitability.
About ALTEX INDUSTRIES INC
Altex Industries, Inc. is a holding company focused on oil and gas investments through its subsidiary, Altex Oil Corporation. The company holds non-working interests in onshore properties in Utah and Wyoming, generating revenue primarily from oil and gas sales and interest income. With a market opportunity in the fluctuating energy sector, Altex aims to enhance cash flow through strategic asset sales and potential investments in producing wells.
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