NXT Energy Solutions Inc. (NSFDF) Form 6-K — May 14, 2026
NXT Energy Solutions reported a net loss of CAD $2.42 million for Q1 2026, driven by a sharp revenue decline to CAD $107,801 from CAD $12.46 million in the prior year. The company attributed this drop to a shift from the high-revenue acquisition phase of its 2025 African survey to the lower-revenue interpretation phase of its Pakistan survey. On a positive note, NXT converted all remaining USD $6.17 million of convertible debentures into common shares, eliminating future dilution risk and leaving the company with CAD $2.02 million in cash and CAD $3.93 million in net working capital. The company also collected CAD $1.54 million in accounts receivable after the quarter ended.
Key figures
- Revenue
- 107801
- Revenue Yoy
- -99.1
- Cash Position
- 2021578
- Shares Outstanding
- 119461425
- Currency
- CAD
- Gna Expense
- 1717190
- Net Working Capital
- 3925348
- Prior Quarter Revenue
- 12464071
- Prior Quarter Net Income
- 7684518
- Convertible Debt Currency
- USD
- Mobilization Fee Currency
- USD
- Mobilization Fee Received
- 346500
- Convertible Debt Converted
- 6172000
- Accounts Receivable Collected Post Period
- 1541220
AI analysis
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