First America Resources Corporation (FSTJ) reported a revenue increase of 19% for the first quarter of 2026, generating $4.8 million compared to $4.0 million in the same period of 2025. The company's gross profit also saw a significant rise, reaching $3.0 million, up from $2.3 million, resulting in improved gross margins of 63% compared to 56% in the prior year. This growth in revenue and profitability is attributed to the company's ongoing expansion in electronic waste management and IT asset disposition services, which are bolstered by its R2-certified facilities across the United States.
Operating expenses for the first quarter of 2026 totaled $2.7 million, an increase of 21% from $2.2 million in the previous year. The rise in expenses was primarily driven by higher general and administrative costs, payroll expenses, and rent, reflecting the company's operational expansion. Income from operations increased to $328,000, compared to $54,000 in the first quarter of 2025. However, net income decreased to $297,230 from $375,129, largely due to a significant drop in other income, which included a non-recurring employee retention credit in the prior year.
The company's balance sheet showed total assets of $9.0 million as of March 31, 2026, up from $6.7 million at the end of 2025. Current assets increased to $3.3 million, driven by higher cash reserves, which rose to $631,344 from $276,855. Total liabilities also increased to $10.3 million, up from $8.3 million, primarily due to higher accounts payable and accrued expenses. The stockholders' deficit improved to $1.3 million from $1.6 million, reflecting the company's efforts to enhance its financial position.
First America Resources continues to focus on strategic growth, with plans to expand its operations and potentially increase its market share in the electronic waste recycling sector. The company has indicated that it may need to raise additional capital to support its growth initiatives, which could involve debt or equity financing. Management expects revenues to continue to rise year-over-year as the company capitalizes on increasing demand for sustainable recycling solutions.
Overall, First America Resources Corporation's financial performance in the first quarter of 2026 reflects a positive trajectory, with increased revenues and operational growth, despite challenges in other income streams. The company remains committed to its strategic objectives and anticipates further growth in the coming quarters.
About First America Resources Corp
First America Resources Corporation is a Nevada-based company engaged in scrap metal recycling and real estate development. It operates FAMCe, an international scrap metal exporter, and plans to acquire properties supporting its investment goals. The company focuses on non-ferrous and electronic materials, offering competitive pricing in its markets. Its business model centers on recycling, real estate assets, and strategic acquisitions to generate revenue and growth.
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