Trio Petroleum published a quarterly report on Form 10-Q for the quarter ended Jan. 31, 2026, reporting revenue of USD 122,193 and a net loss of USD 1.01 million. Loss from operations was USD 804,392, narrowing 33.9%, as total operating expenses fell 30.1% to USD 858,183, driven by an 82.7% drop in stock-based compensation expense to USD 84,872. Net cash used in operating activities was USD 533,893, improving 42% year over year, while net cash provided by financing activities was USD 382,519. As of Jan. 31, 2026, Trio had a working capital deficit of USD 901,484 and an accumulated deficit of USD 28.37 million. The company said it raised about USD 395,000 under its at-the-market program during the quarter and, after quarter-end through the filing date, raised USD 18.62 million in additional gross proceeds under the program, which management said is expected to fund operating and capital needs for at least 12 months from the report date.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Trio Petroleum Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-010535), on March 17, 2026, and is solely responsible for the information contained therein.
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