Callan JMB Inc. Reports Revenue Decline and Increased Net Loss in Q2 2026

Callan JMB Inc. (formerly Coldchain Technology Services, LLC) reported a decline in financial performance for the second quarter and first half of 2026, as detailed in its latest 10-Q filing. For the three months ended June 30, 2026, the company generated revenue of $1.38 million, a decrease of 17% from $1.67 million in the same period of 2025. For the six months, revenue fell by 20% to $2.48 million from $3.12 million year-over-year. The decrease in revenue was attributed to reduced demand for emergency preparedness services from state and local governments. Despite the revenue drop, gross profit for the second quarter increased by 18% to $758,000, compared to $644,000 in the prior year, primarily due to a significant reduction in the cost of revenue, which fell by 40% to $618,000.

The company’s operating expenses also saw an increase, with selling, general, and administrative expenses rising to $2.10 million for the second quarter, up from $2.05 million in 2025. This increase was driven by higher legal and salary expenses. The net loss for the second quarter narrowed to $1.23 million from $1.40 million in the previous year, while the loss for the first half of 2026 was $4.45 million, a substantial increase from $2.64 million in the same period of 2025. The company also reported a significant increase in other expenses, primarily due to changes in the fair value of its equity line of credit (ELOC) facility.

Operationally, Callan JMB Inc. has been focusing on strategic developments, including the issuance of shares under its ELOC facility, which raised $1 million during the first half of 2026. The company’s total assets decreased to $4.45 million as of June 30, 2026, down from $5.78 million at the end of 2025, largely due to a reduction in cash and cash equivalents, which fell to $860,000 from $2.13 million. The company’s accumulated deficit also widened to $14.71 million, raising concerns about its ability to continue as a going concern.

Looking ahead, Callan JMB Inc. is actively seeking additional sources of capital to support its operations and growth strategy. The company has acknowledged the challenges posed by its current financial condition, including compliance issues with Nasdaq listing requirements. Management is working on a compliance plan and exploring options for equity and debt financing. The company’s outlook remains cautious, with expectations of continued operating losses and cash flow challenges in the near term.