Business
Beyond Oil Reports Financial Results for First Quarter 2026
VANCOUVER, British Columbia, May 19, 2026 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (TSX: BOIL) (OTCQ...
About this update from Beyond Oil Ltd
[{"type":"text","content":"Beyond Oil Reports Financial Results for First Quarter 2026First Quarter Revenue Increased 24% Year-Over-Year; Gross Margin Expanded to 53.1%; Cash Position Remained Strong\nVANCOUVER, British Columbia, May 19, 2026 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (TSX: BOIL) (OTCQB: BEOLF) (“Beyond Oil” or the “Company”), a food-tech innovation company dedicated to reducing health risks associated with fried food while lowering operational costs, improving food quality, minimizing waste and enhancing sustainability, today reported its financial results for the first quarter ended March 31, 2026, and provided a business update. “Q1 2026 marked an important step in Beyond Oil’s transition from pilot activity to structured commercial rollouts, particularly in the U.S. market,” said Jonathan Or, CEO of Beyond Oil. “We are now in advanced stages of rollout planning and implementation with several large, strategic customers across supermarkets, premium casual dining, fast-food chains and additional foodservice segments. While certain customer names cannot be disclosed at this stage, these programs involve well-established and widely recognized brands that we believe provide meaningful validation for our technology, commercial strategy and ability to scale. Beyond Oil is building more than a product. We are becoming a partner in frying performance and oil management, helping large operators turn frying into a measurable, repeatable and scalable brand standard. In a market as large as the U.S., adoption by even a limited number of major customers has the potential to support the Company’s next tier of revenue and growth. We believe this foundation is being built in the right way: through customer validation, operational onboarding, repeat purchasing and broader adoption. As these rollout programs progress, we expect their financial impact to build over the coming quarters, with a more meaningful acceleration in revenue beginning in the third quarter and continuing through the second half of 2026.” The following disclosure does not constitute full disclosure of the Company’s financial and operational condition and is qualified by, and should be read in conjunction with, the Company’s Management Discussion and Analysis for the period ending March 31, 2026 (the “...