Sky Quarry Inc.
Sector: Hazardous Waste ManagementIndustry: Oil & Gas IntegratedCountry: USExchange: Nasdaq
DilutionScan read 24 of Sky Quarry Inc.'s SEC filings and found 16 warrant series, 9 convertibles, 1 ATM program, 1 equity line, 1 shelf registration, 1 S-1 registration and 3 completed offerings on file for SKYQ. The latest dilution event on file is an agreed share issuance on Oct 1, 2026. Analysis updated Oct 9, 2026.
Signal8 Summary
SKYQ
Going concern warning and collapsing revenue
Snapshot
Sky Quarry is a tiny energy company in a severe financial contraction. Revenue has plummeted for two straight years, falling from $50.7M in 2023 to just $12.5M in 2025. The business model is currently broken on the unit level, with a negative gross margin of 25.5% meaning it costs more to make fuel than the company sells it for.
What's Happening Right Now
- : Sky Quarry appointed Ray Hansen, a 35-year refining veteran and former HF Sinclair executive, as President of its Foreland Refining Corporation subsidiary to lead the next phase of growth.
- : Sky Quarry announced it is entering the production phase at its Foreland Refinery in Nevada, the state's only operating refinery, with operations expected to commence in July 2026.
- : The company disclosed a going concern warning in its Q1 2026 filing, citing a near-total collapse in revenue to $383 and an accumulated deficit of $38.5 million, alongside a reverse stock split and pending lawsuits from former executives and lenders.
- : The company entered a non-binding Memorandum of Understanding with Southern Energy Renewables and DevvStream to advance next-generation fuel technologies, including sustainable aviation fuel, at its refinery and oil sands assets.
- : Sky Quarry issued a Request for Proposals to engage partners for accelerating the development of its 180-million-barrel PR Spring oil sands resource in Utah.
