VANCOUVER, BC and KIBBUTZ YIFAT, Israel, May 28, 2025 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (CSE: BOIL) (OTCQB: BEOLF) (Frankfurt: UH9) ("Beyond Oil" or the "Company"), a food-tech innovation company dedicated to reducing health risks associated with fried food while lowering operational costs, minimizing waste, and enhancing sustainability, today reported its financial results for the first quarter ended March 31, 2025, and provided a business update.
Jonathan Or, CEO of Beyond Oil, commented: "The first quarter of 2025 marks a transformative period for Beyond Oil, with record revenues of US$1.01 million, representing 660% growth year-over-year and 216% sequential growth over Q4 2024. This exceptional performance reflects the acceleration of our global commercialization efforts and the growing market adoption of our product across five continents. The quarter was significant not just in terms of its financial results, but also in terms of our commercial and business milestones, including the announcement of a C$10.64 million private placement led by an investment by Clal Insurance (which subsequently closed in Q2 2025), alongside the significant expansion of our distribution network across the globe through a series of distribution agreements. As we continue to execute on our commercial strategy, we are seeing the benefits of investments made throughout 2024, with major distribution agreements signed in late 2024 and early 2025 already contributing meaningfully to our financial results. With our strengthened cash position and global pipeline, we believe we are well-positioned to continue our growth trajectory as we work towards a potential uplisting to a senior exchange."
The following disclosure does not constitute full disclosure of the Company's financial and operational condition and is qualified by, and should be read in conjunction with, the Company's Management Discussion and Analysis for the period ending March 31, 2025 (the "MD&A") and corresponding financial statements available at sedarplus.ca
Q1 2025 Financial Highlights
*All Figures in USD unless specifically mentioned otherwise
- Revenue: Increased 660% to $1.01 million in Q1 2025, compared to $0.13 million in Q1 2024, and 216% sequential growth over Q4 2024 ($0.32 million). Notably, Q1 2025's revenue surpassed the total revenue of for the entire financial year 2024, demonstrating the accelerating sales growth the Company is experiencing.
- Gross Profit: Increased 1176% to $513 thousand in Q1 2025, compared to $41 thousand in Q1 2024, and 266% sequential growth over Q4 2024 ($140 thousand).
- Cash Position: Strengthened to $4.49 million as of March 31, 2025, a 24% increase compared to $3.62 million as of December 31, 2024.
- Operating Expenses: Cash operating expenses were $1.25 million in Q1 2025, up from $0.55 million in Q1 2024, reflecting strategic investments in global expansion, marketing initiatives, and operational capabilities to support the Company's accelerating commercial growth. Total operating expenses reached $2.21 million after including $0.76 million in non-cash share-based compensation as compared to $0.75 million for the period ending March 31, 2024.
- Net Loss: Net loss was $11.01 million for Q1 2025, compared to $0.71 million for Q1 2024, primarily due to an increase in non-cash expenses totaling $9.89 million, including $9.13 million related to fair value adjustments of derivative warrants and $0.76 million in share-based compensation expenses.
Recent Business Highlights
- Strategic Investment: Announced the C$10.64 million brokered private placement being led by an investment by Clal Insurance, one of Israel's largest institutional investors. Proceeds of this private placement will support the Company's growth initiatives. The private placement was subsequently completed in Q2 2025 (see News Release dated May 21, 2025).
- Warrant Exercises: From the beginning of 2025 and as of the date of this news release, the Company has received approximately C$7.2 million through warrant exercises, demonstrating strong investor confidence in the Company's business model and growth trajectory.
- U.S. Market Expansion: Announced and began to execute the Company's Master Distribution Agreement with Latitude Ltd. for the United States market, with initial shipments executed already in January, February and March 2025, highlighting traction in the key U.S. market.
- European Market Growth: Expanded distribution network across Europe with new agreements in the Netherlands (Mandarin Food Products), France (FollowFood), Spain/Hungary/Belgium (Royalty Trade), Portugal (Serious Formula), Sweden (Click Lab AB), and most recent in April 2025 - Greece (Global Foods). These partnerships establish a European distribution network for sustained growth, and expanded the U.S. distribution agreement with Latitude to include Ukraine.
- Global Market Entry: Announced that it has entered into a five-year distribution agreement in Australia (T&J Oil Pty Ltd.), with the first shipment delivered in February 2025. Additionally, the Company announced that it entered into a distribution Agreement in India (Deep Frying Solutions Pvt Ltd., now doing business as YMS Frying Solutions Pvt Ltd.).
Please review the Company's MD&A for a detailed description of the status of each of the agreements and developments aforementioned.
About Beyond Oil Ltd.
Beyond Oil Ltd. is a food-tech innovation company with over 15 years of dedication to creating solutions that mitigate health risks, improve sustainability, and reduce costs for food service companies. The Company's patented technology, with regulatory clearances from the FDA and Health Canada, significantly reduces harmful compounds in frying oil, addressing critical health concerns. Beyond Oil's solution tackles a global issue in the food industry: the widespread practice of reusing frying oil for hundreds of cycles across several days. This practice is common in restaurant kitchens, hotels, catering services, banquet halls, fried food manufacturing plants, and institutions such as schools, kindergartens, and military facilities. Beyond Oil's product is backed by extensive research which has highlighted its value in health risks associated with reused oil, including links to cancer and cardiovascular diseases. Beyond Oil's product provides an effective means to mitigate these risks while offering additional benefits such as improved food quality, operational cost savings, and reduced environmental impact. For more information about Beyond Oil, please visit: www.beyondoil.co
Forward-Looking Statements and Information
The Canadian Securities Exchange has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains "forward-looking statements" within the meaning of the securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. In addition, we cannot assure that any patent will be issued as a result of a pending patent application or, if issued, whether it will be issued in a form that will be advantageous to us. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time at sedarplus.ca. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of third-party websites.
Contact Information:
Beyond Oil Ltd.
Jonathan Or
CEO and Co-founder
Email: info@beyondoil.co
ARX | Capital Markets Advisors
North American Equities Desk
Email: beyondoil@arxadvisory.com
