Altex Industries Reports Improved Net Loss of $56,000 for Nine Months Ending June 30, 2026

Altex Industries, Inc. reported a net loss of $56,000 for the nine months ending June 30, 2026, a significant improvement compared to a net loss of $160,000 during the same period in 2025. The company utilized $120,000 in cash for operating activities in the current fiscal period, up from $78,000 in the previous year. The increase in cash used in operations is attributed to changes in accounts receivable and other current assets, which saw increases of $1,000 and $17,000, respectively. The company also recorded a gain of $49,000 from the sale of certain oil, gas, and mineral interests in Utah and Wyoming, which contributed positively to its financial performance.

In terms of operational metrics, Altex Industries experienced a decrease in general and administrative expenses, which fell from $257,000 in the nine months ended June 30, 2025, to $186,000 in the current period. This reduction was primarily due to a one-time bonus expense recognized in the previous fiscal year. Interest income also declined from $88,000 to $68,000, reflecting lower interest rates on cash balances. The company’s cash and cash equivalents at the end of the reporting period stood at $2,474,000, down from $2,578,000 a year earlier.

The company’s total stockholders' equity decreased to $1,286,000 as of June 30, 2026, from $1,386,000 in the prior year, primarily due to the accumulated deficit increasing to $(12,508,000). The company maintained a consistent share count of 11,187,640 shares throughout the reporting period. Altex Industries has not made any significant acquisitions or product launches during this period, and it continues to focus on its existing operations while exploring potential investments in producing oil and gas wells to generate cash flow.

Looking ahead, Altex Industries anticipates continued challenges in achieving positive cash flow from operations unless it invests in revenue-generating ventures. The company has indicated that it is unlikely to exceed its expenses at current production levels and market conditions. Management has noted that without substantial investments or changes in market dynamics, the company may continue to experience net losses. The outlook remains cautious, with no immediate plans for capital expenditures or new ventures currently in place.

Overall, Altex Industries is navigating a period of financial recovery, with improvements in net loss and operational efficiency, but faces ongoing challenges in generating sufficient cash flow to support its operations. The company remains focused on managing its expenses and exploring future opportunities for growth in the oil and gas sector.