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TrustBIX Inc. Announces June 30, 2025 Third Quarter Financial Results
Newsfile· 2025-08-26 02:00
Core Insights - TrustBIX Inc. reported its third quarter financial results for the period ending June 30, 2025, highlighting a focus on managing operating costs while pursuing new business opportunities in Alberta's food security sector [2][3] - The company experienced a significant decrease in revenue from its ViewTrak team compared to the previous year, while the Alberta Food Security team secured new orders for indoor farming technology [3] - Initial deliveries for 2024 orders began in June 2025, with the first installation expected to be completed by September 2025 [3] Financial Performance Three Months Ended June 30, 2025 - Net loss and comprehensive loss amounted to $255,984, an increase of $246,211 from $9,773 in 2024 [5] - Cash provided by operating activities was $31,780, an improvement of $13,142 (70.5%) from $18,638 in 2024 [5] - Revenue totaled $324,545, down $223,224 (40.8%) from $547,769 in 2024 [5] - Operating expenses were $547,111, up $20,679 (3.9%) from $526,432 in 2024 [5] Nine Months Ended June 30, 2025 - Net loss and comprehensive loss reached $493,628, an increase of $21,920 from $471,708 in 2024 [5] - Cash used in operating activities was $24,236, an improvement of $50,551 (67.6%) from $74,787 in 2024 [5] - Revenue for the period was $1,021,778, down $163,951 (13.8%) from $1,185,729 in 2024 [5] - Operating expenses totaled $1,431,056, improved by $134,611 (8.6%) from $1,565,667 in 2024 [5]