Nocera, Inc. Reports 46% Revenue Decline and $1.54 Million Net Loss in Latest Quarter

Nocera, Inc. reported significant financial challenges in its latest 10-Q filing for the quarter ending June 30, 2026. The company recorded net sales of $2.14 million for the quarter, a decline of approximately 46% compared to $3.97 million in the same period last year. For the first half of 2026, total revenue was $4.42 million, down from $8.51 million in the first half of 2025. The decrease in revenue was primarily attributed to a reduction in sales from the company's fish trading segment, which saw a drop in volume from 388 tons to 272 tons, despite a slight increase in average selling prices.

The company's gross profit also fell sharply, with a gross profit of $18,000 for the second quarter of 2026 compared to $32,000 in the prior year. For the six-month period, gross profit decreased from $83,000 to $60,000. Operating expenses surged to $1.19 million for the second quarter, up from $236,000 a year earlier, largely due to increased wages and employee-related costs. Consequently, Nocera reported a net loss of $1.54 million for the quarter, compared to a loss of $327,000 in the same period last year, and a total net loss of $2.82 million for the first half of 2026, compared to $584,000 in the prior year.

In terms of strategic developments, Nocera has made notable changes, including a corporate treasury strategy initiated in January 2026, which involved investing $2 million in Bitcoin. The company also entered into an Equity Purchase Facility Agreement in May 2026, allowing it to sell up to $100 million in common stock over a 24-month period. Additionally, a reverse stock split was executed on July 6, 2026, to meet Nasdaq listing requirements, reducing the number of outstanding shares from approximately 46.8 million to 1.56 million.

Operationally, Nocera's total assets decreased to $8.18 million as of June 30, 2026, down from $10.11 million at the end of 2025. The company reported cash and cash equivalents of $4.79 million, a significant drop from $7.95 million at the end of the previous fiscal year. The filing also indicated that Nocera has no accounts receivable as of June 30, 2026, reflecting a shift in its operational focus. The company is currently exploring additional capital through equity financing and strategic partnerships to improve liquidity and address its financial challenges.

Looking ahead, Nocera's management expressed concerns about its ability to continue as a going concern, given the accumulated deficit of $29 million and ongoing losses. The company is actively seeking new business opportunities and cost control measures to enhance its financial position. However, the success of these initiatives remains uncertain, and there is no guarantee that Nocera will achieve its financial objectives or regain compliance with Nasdaq's listing requirements.