CitroTech Revenue Rises 130% to $664,000 in Third Quarter of 2026
Key Facts
CitroTech said third-quarter 2026 revenue rose 130% year over year to $664,000, compared with $288,000 in the same period of 2025, according to a company statement cited by Stock Titan. The figure puts sales growth at the center of the company's message to shareholders about the quarter, while the available information did not include other financial details for the period. The company said the result came despite the timing of some purchase orders shifting into the fourth quarter. That means some orders that had been scheduled for the third quarter were delayed into the following period, according to the company's description. CitroTech is scheduled to hold a call to discuss its third-quarter results on November 11, 2026.
The company said its network of authorized and trained partners expanded 50% to 31 operators as of September 30, 2026. The expansion offers an operational indicator alongside revenue growth, reflecting an increase in the number of entities the company says are trained and authorized to use its products. But the results statement did not explicitly link the rise in partner numbers to the revenue generated in the quarter. Purchase orders whose timing shifted into the fourth quarter remain part of the company's explanation for the period's result. The results call scheduled for November 11 is an opportunity to provide further operational details about the quarter, according to the company's schedule.
On financing, CitroTech said it closed a fully subscribed public offering in October 2026, with gross proceeds of $5.6 million. This follows a September investor presentation showing the company had $2.5 million in cash on June 30, 2026, and operating cash use of about $1.9 million per quarter. The presentation also said conditions had raised substantial doubt about the company's ability to continue as a going concern for one year after the issuance of its second-quarter financial statements. The financing announced in October puts those earlier figures in the context of assessing the company's financial resources, without the available statement clarifying the offering's impact on cash or current operating spending. Those figures remain tied to the periods specified by the company in its disclosures.
EL7 data showed CitroTech shares, listed on NYSE American under the ticker CITR, closed at $2.58 on November 9, 2026. That closing price was from the session before the company's November 10 announcement and does not represent a post-results price. The available evidence contained no documented data on the trading range during the November 9 session or on the stock's response after the announcement. The company's filing with the U.S. Securities and Exchange Commission identifies Wesley Bolsen as chief executive officer and a member of the board. This information provides the prior close and the executive's identity, while details from the results call expected on November 11 remain the next event on the timeline.
The company's announced plans include HexiTech, a 50-50 joint venture with Hexion established in April 2026, with initial revenue targeted for early 2027. The company also said in its presentation filed with the U.S. Securities and Exchange Commission that its products were not then listed on any U.S. Forest Service qualified products list, and that management expected qualification during the 2027 fire season. This provides a timeline for the commercial and regulatory goals the company has set, without establishing that they have been achieved. The November 11 call comes ahead of the target dates the company cited and may provide details on its execution path and fourth-quarter plans. The available materials have not yet cited a revenue figure for the joint venture.