CirTran Corporation reported significant financial growth in its latest 10-K filing for the fiscal year ending December 31, 2025, with revenues reaching $3.13 million, a 141.1% increase from $1.30 million in 2024. The company attributed this growth primarily to increased sales in its vapor product line, which saw a notable uptick in the latter half of the year. Despite the revenue increase, CirTran recorded a net loss of $701,634, a reduction from the previous year's loss of $2.63 million, indicating improved operational efficiency.
The company’s cost of sales also rose, totaling $1.59 million in 2025 compared to $458,158 in 2024, resulting in a gross profit of $1.54 million, up from $838,638 the prior year. Operating expenses increased by 20% to $1.67 million, driven by higher marketing costs associated with launching products in retail chains. Employee costs remained relatively stable, decreasing slightly to $508,553 from $515,807 in 2024.
CirTran has been actively expanding its product offerings under the HUSTLER® brand, which includes condoms, electronic cigarettes, and energy drinks, following a five-year exclusive manufacturing and distribution agreement with GloBrands. The company has established a presence in over 50 international markets, leveraging its long-standing relationships with suppliers and distributors. As of December 31, 2025, CirTran employed four full-time staff and utilized 23 part-time contract workers, reflecting a lean operational structure aimed at minimizing overhead costs.
The company continues to face challenges, including a working capital deficiency of approximately $22.4 million and an accumulated deficit of $62.3 million. Management has indicated the need for additional capital to support ongoing operations and future growth initiatives. The auditors have expressed concerns regarding CirTran's ability to continue as a going concern, emphasizing the importance of generating sufficient revenue to cover operational costs.
Looking ahead, CirTran plans to focus on enhancing its product lines and expanding its market reach while seeking additional capital through private placements or public offerings. The company remains committed to navigating the complexities of its operational landscape, including regulatory compliance and market competition, as it strives for sustainable growth and profitability.
About CIRTRAN CORP
CirTran Corporation manufactures, markets, and distributes consumer products under licensed brands, primarily the HUSTLER® trademark. Its product portfolio includes condoms, electronic tobacco products, cigars, hookahs, energy drinks, water beverages, and related merchandise. Operating globally through subsidiaries and partnerships, CirTran offers end-to-end services from product design to distribution, targeting retail, club, and specialty markets with a focus on brand management and contract manufacturing solutions.
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