WOODS CROSS, Utah , Sept. 30, 2025 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ: SKYQ) (“Sky Quarry” or “the Company”), an integrated energy solutions company committed to transforming the waste asphalt shingle recycling industry, today shared an update on its digital asset treasury (DAT) strategy. The plan is designed to strengthen the Company’s balance sheet and advance the eventual tokenization of its real-world assets to drive business growth. Over the past several months, Sky Quarry has been studying th ...

Core Insights - Sky Quarry Inc. reported financial and operational results for Q1 2025, highlighting ongoing challenges and strategic initiatives in the waste asphalt shingle recycling industry [1][8]. Financial Performance - Total revenues for Q1 2025 were approximately $6.3 million, a decrease from $11.0 million in Q1 2024, primarily due to supply chain disruptions and lower commodity prices [8][11]. - Gross profit for the quarter was negative $726,000, compared to a gross profit of $569,000 in the prior-year period [9]. - The company reported a net loss of $3.3 million for Q1 2025, compared to a net loss of $2.5 million in the same period last year [11][19]. Operational Highlights - The company experienced a 50% increase in revenue from Q4 2024 to Q1 2025, driven by operational improvements at the Foreland Refinery [5][10]. - Engagement with TAR360 aims to optimize operations at Foreland, with a goal to increase throughput from 20,000 barrels per month to as much as 100,000 barrels [6]. - The company signed non-binding Letters of Intent with Southwind RAS and R & R Solutions to explore partnerships that could expand its geographic footprint and access over 1.5 million tons of asphalt shingle supply annually [4][10]. Strategic Initiatives - The company is focused on executing its waste-to-energy strategy, converting recycled asphalt shingles into sustainable fuels and valuable materials [3][4]. - Asset upgrades at PR Spring are nearing completion, which will enable commercial-scale output and activate a fully integrated production model [3]. - The company is positioned to meet growing fuel demand in the Western U.S., particularly as California's refining capacity is expected to decline by 21% due to facility closures [7].