Altex Industries Reports Revenue Increase but Net Loss Improvement for Six Months Ending March 31, 2026

Altex Industries, Inc. reported its financial results for the six months ending March 31, 2026, revealing total revenue of $11,000, an increase from $9,000 in the same period of the previous year. The company's oil and gas sales remained stable at $4,000 for both the three-month periods ending March 31, 2026, and 2025. However, the company experienced a net loss of $77,000 for the six months ended March 31, 2026, a significant improvement compared to a net loss of $148,000 for the same period in 2025. The basic and diluted loss per share remained consistent at $(0.01) for both periods.

Operating expenses for the first half of fiscal 2026 decreased to $134,000 from $214,000 in the prior year, primarily due to a reduction in general and administrative expenses, which fell from $211,000 to $132,000. This decrease was attributed to the absence of a bonus expense recognized in the previous fiscal year. In contrast, general and administrative expenses increased to $72,000 in the three months ended March 31, 2026, from $61,000 in the same period of 2025, driven by higher medical insurance premiums, audit fees, legal fees, and office rent.

The company reported a decrease in interest income, which fell to $46,000 for the six months ended March 31, 2026, down from $57,000 in the prior year, reflecting lower interest rates on cash balances. Cash flows used in operating activities also increased, with $67,000 utilized in the first half of fiscal 2026 compared to $49,000 in the same period of 2025. As of March 31, 2026, Altex Industries had cash and cash equivalents totaling $2,478,000, a decrease from $2,607,000 at the end of the previous fiscal year.

The company continues to face challenges in generating positive cash flow from operations, as it relies on investments in producing oil and gas wells or other ventures to improve its financial position. Altex Industries has not planned any capital expenditures related to production acquisitions or drilling activities at this time. The management indicated that unless significant investments are made, the company is likely to continue experiencing net losses. The outlook remains cautious, with no anticipated changes in liquidity or operational commitments that could materially affect the company's financial condition in the near term.