Waste Energy Corp. Reports 82% Revenue Decline but Net Income Turnaround in Q2 2026

Waste Energy Corp. reported its financial results for the second quarter of 2026, revealing a significant decline in revenue and a net income turnaround compared to the same period in 2025. The company generated total revenues of $22,500 for the three months ended June 30, 2026, a decrease of 82% from $125,000 in the same quarter of the previous year. For the six-month period, revenues fell to $105,833 from $166,667. The decline is attributed primarily to reduced consulting services, which accounted for the majority of the revenue.

In terms of profitability, Waste Energy Corp. reported a net income of $1,846,763 for the second quarter of 2026, a stark contrast to a net loss of $1,538,957 in the same quarter of 2025. This turnaround was largely driven by a significant gain from changes in the fair value of derivative liabilities, which amounted to $2,019,659. However, the company still recorded a net loss of $590,394 for the first half of 2026, compared to a loss of $1,562,024 in the prior year.

Operationally, the company has seen an increase in general and administrative expenses, which rose to $426,312 for the first half of 2026, compared to $129,111 in the same period of 2025. This increase is attributed to heightened business development activities related to the company's waste conversion initiatives. The total current liabilities also increased to $5,061,723 as of June 30, 2026, up from $4,597,087 at the end of 2025, reflecting ongoing financial pressures.

Waste Energy Corp. continues to focus on its waste-to-energy business, which aims to convert plastic and tire waste into energy products. The company is also developing an AI-based emissions monitoring technology to enhance its operational efficiency. Despite the challenges, management remains optimistic about future growth, although they acknowledge the need for additional financing to support operations and capital expenditures. The company anticipates requiring between $800,000 and $1,000,000 over the next twelve months to fund its operations, which may involve raising capital through equity or debt securities.

As of June 30, 2026, Waste Energy Corp. reported an accumulated deficit of $51,625,618 and a working capital deficit of $4,993,801, raising concerns about its ability to continue as a going concern. The company is actively seeking to improve its financial position and is exploring various funding options to ensure its sustainability moving forward.