CleanCore Solutions reported first‑quarter 2026 results, showing revenue of $0.9 million, up 125% from $0.4 million in the same period last year, while net loss widened to $13.4 million from a $0.9 million loss a year earlier.
Revenue growth was driven by the core cleaning‑technology segment, which expanded demand for its patented aqueous ozone solutions. The company’s gross margin improved to 59% from 51% YoY, indicating better pricing power and cost efficiency in the core business, but the margin gains were offset by a sharp rise in operating costs.
General and administrative expenses surged to $8.6 million, an 860% jump from $0.9 million a year ago, largely due to one‑time treasury‑strategy expenses, large professional and consulting fees, stock‑related compensation, new employee salaries, and director‑officer insurance. These costs were tied to the company’s Dogecoin treasury initiative, which has become a significant expense driver.
CEO Clayton Adams said the quarter’s results reflected “several one‑time expenses related to our treasury strategy transaction, while our core business experienced growth and cash flow on a stand‑alone basis.” He added that the company will continue to accumulate DOGE and pursue its goal of acquiring up to 5 % of the cryptocurrency’s circulating supply, while maintaining discipline in its core operations.
Investors reacted negatively to the earnings, citing concerns about the heavy reliance on the Dogecoin treasury, the widening net loss, and a weak financial‑health score of 0.87. The company’s auditors have previously raised a going‑concern warning, underscoring doubts about its ability to continue operating for the next 12 months.
CleanCore will file its Form 10‑Q on the same day and has indicated that additional financing may be required to sustain growth. The company’s liquidity challenges and the large one‑time expenses associated with its treasury strategy suggest that the current financial position remains fragile, even as the core business shows modest revenue growth.
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