Citrine Global Corp Reports Q3 Financial Results, Shifts Focus to Drone Technologies

Citrine Global Corp., now operating as SkyTech Orion Global Corp., reported its financial results for the third quarter and the nine months ending September 30, 2025, revealing a net loss of $1.3 million for the nine-month period, a decrease from a loss of $1.9 million in the same period last year. The company did not generate any revenue during this timeframe. Operating losses also improved slightly, totaling $832,000 compared to $930,000 in the previous year. The reduction in losses is attributed to decreased marketing and administrative expenses, which fell from $930,000 to $623,000, primarily due to lower professional service costs and share-based compensation.

The company’s total assets decreased to $1.3 million as of September 30, 2025, down from $1.6 million at the end of 2024. Current assets increased slightly to $161,000, while current liabilities rose significantly to $4.5 million, leading to a working capital deficiency of $4.3 million. The increase in liabilities was driven by short-term loans and accrued compensation, which rose to $2.8 million from $2.5 million. The company’s cash position improved marginally, with cash and cash equivalents at $7,000 compared to $1,000 at the end of 2024.

Strategically, the company has shifted its focus from wellness and plant-based products to the defense and unmanned systems sector, capitalizing on the growing demand for drone technologies. This transition is underscored by the development of the SkyTech Replicator™, a modular drone platform designed for rapid mission reconfiguration. The company has also filed multiple patent applications related to its new technologies. In addition, SkyTech Orion Ltd., the company’s Israeli subsidiary, received a government grant of approximately $3.4 million to support the establishment of a national innovation and production center for drones in Yeruham, Israel.

Operationally, the company is expanding its presence in the U.S. and has leased facilities in San Diego, California, to support the development and testing of its drone technologies. The company is also working to comply with U.S. defense regulations, including the National Defense Authorization Act (NDAA), to ensure its supply chain meets necessary standards. Looking ahead, the company is focused on raising capital to support its international expansion and production capabilities, with plans to uplist to the NASDAQ stock exchange. Despite the ongoing losses, management believes that the current cash balances and access to credit facilities will be sufficient to fund operations for the next twelve months.