Intercont revenue reaches $6.4 million in fiscal fourth quarter as losses widen
Key Facts
Quiver Quantitative reported that Intercont (Cayman) revenue was $6.4 million in fiscal fourth quarter 2026, up 9.3% from the same period a year earlier. In the same period, gross profit was $1.3 million, while the company posted an operating loss of $2.6 million. Net loss attributable to common shareholders widened to $4.0 million, and diluted loss per share was $21.58. The figures show a divergence between revenue growth and widening losses at the profitability levels. Quiver said its financial data came from an external provider and had not been independently verified.
Cost of sales rose 32.8% year over year to $5.1 million, according to Quiver. Gross profit fell to $1.3 million, the same report said. The figures show that revenue growth was not accompanied by comparable growth in gross profit during the quarter. The company recorded an operating loss of $2.6 million, before accounting for the net loss attributable to common shareholders. Quiver did not independently verify these figures in the published material, nor did it provide confirmation from the company.
On cash flow, cash generated from operating activities was $941,432, down 55.4% from a year earlier, according to Quiver. Cash and cash equivalents totaled $3.4 million, while total liabilities reached $37.6 million. The report said liabilities fell 18.3% year over year. These indicators put operating cash, available cash and liabilities at the center of the financial picture presented in the report. However, the report provided no further detail here on the measurement dates for the cash flow and liabilities figures.
Describing the period as the fourth quarter of 2026 means it was the fourth quarter of the fiscal year, as the annual report filed with the U.S. Securities and Exchange Commission set June 30 as the fiscal year-end. For the fiscal year ended June 30, 2026, revenue was $25.4 million, compared with $25.1 million in the prior year. The annual figures show limited change in revenue between the two years, while the $6.4 million figure applies to the fiscal fourth quarter alone. The quarter's year-over-year comparison therefore differs from the full fiscal-year figures. The quarterly results cited here remain attributed to Quiver data that has not been independently verified.
In a separate filing dated October 23, 2026, the company announced a direct offering of 15,000,000 Class A shares at $1.30 per share, with expected gross proceeds of $19.5 million. It said in the offering prospectus that net proceeds would be used for working capital and other general purposes. The prospectus said the number of common shares outstanding immediately after the offering's completion would be about 18.12 million, including about 16.29 million Class A shares. The company also said it did not plan to pay cash dividends on its Class A shares for the foreseeable future and intended to retain most available funds and future earnings to operate and grow the business. NCT shares closed at $1.55 on October 29, 2026, according to EL7 data.
The group operates globally in ship leasing and management services, with revenue coming mainly from time-charter contracts and ship-management services, according to the company's prospectus. This business provides context for its revenue, which the filing says depends on those services. The indicators for fiscal fourth quarter, including revenue, losses and cash flows, come from a Quiver report that explicitly said its data came from an external provider and had not been independently verified. The company's report and public filings did not confirm these quarterly figures, according to the information available in the story materials. The quarterly results are therefore attributed to Quiver as reported and kept separate from the annual data in the filing with the commission.