Callan JMB Inc(CJMB) - 2025 Q4 - Annual Results

Financial Performance - Revenues for the twelve months ended December 31, 2025, were $5.7 million, a decrease of 13% from $6.6 million in 2024 due to reduced demand for emergency preparedness services [8] - Gross profit for the same period was $2.1 million, down from $2.6 million in 2024, reflecting a decline in revenue [8] - Loss from operations for 2025 was $7.0 million, compared to a loss of $2.3 million in 2024, indicating increased operational challenges [8] - The company reported a net loss of $7,966,366 for 2025, compared to a net loss of $2,293,648 in 2024 [13] Expenses - SG&A expenses increased to $8.6 million in 2025 from $4.8 million in 2024, primarily due to higher professional fees related to the company's IPO [8] - The company incurred $1,559,756 in stock-based compensation in 2025, with no such expenses reported in 2024 [13] - The provision for credit losses was $230,190 in 2025, compared to a recovery of $(131,000) in 2024 [13] - The company reported an impairment loss on property and equipment of $542,088 in 2025, with no such losses in 2024 [13] Cash Flow - Cash and cash equivalents as of December 31, 2025, were $2.1 million, slightly up from $2.1 million in 2024 [8] - Net cash used in operating activities was $(4,546,724) in 2025, a significant decrease from $540,353 in 2024 [13] - Cash flows used in investing activities totaled $(616,896) in 2025, compared to $(46,167) in 2024 [13] - The company generated net cash provided by financing activities of $5,196,433 in 2025, contrasting with $(3,551,861) in 2024 [13] - Cash and cash equivalents at the end of the period increased to $2,130,758 in 2025 from $2,097,945 in 2024 [13] Business Developments - The company signed a significant agreement with Attune Biotech Inc. to oversee manufacturing and quality assurance for a multi-asset therapeutic pipeline [3] - A joint venture was established with Revival Health to enhance logistics and data infrastructure for U.S.-based manufacturing [3] - The company launched Callan JMB Services (India) Private Limited, with plans for a temperature-controlled warehouse in Pune for pharmaceutical distribution [3] - An emergency preparedness contract with the City of Chicago was extended through June 2026, increasing total contract value to $9.1 million [3] - The proprietary Sentry Monitoring System was upgraded to HTML5, allowing remote monitoring of temperature-sensitive pharmaceutical storage [4] IPO and Financing - The company recognized $4,543,989 in proceeds from IPO and overallotment in 2025, with no such proceeds in 2024 [13] - The fair value of stock warrants issued at IPO was $144,358 in 2025, with no such issuance in 2024 [13]