The substantial revenue decline and credit provision signal ongoing operational and credit quality challenges in China. Traders should watch for collection of accounts receivable and any new project awards to gauge recovery; the backlog provides some near-term visibility but is insufficient to reverse the deterioration.
Price Chart
Executive Summary
CDT Environmental reported FY2025 revenue of $18.2M, down 38.8% YoY, and a net loss of $10.3M versus net income of $1.4M in FY2024, driven by project delays, fewer new contracts, and a $14.7M credit loss provision. The backlog of $26.8M and cost optimization efforts provide limited offset, but the financial deterioration is severe for this $5M market cap company.
Key Financial Metrics
Key Facts
- FY2025 revenue $18.2M, down 38.8% YoY from $29.8M
- Net loss of $10.3M vs net income of $1.4M in FY2024
- Diluted EPS of -$0.84 vs $0.14 in FY2024
- Provision for credit losses of $14.7M vs net recovery of $6.5M in FY2024
- Gross profit margin improved to 41.5% from 37.8%, but gross profit fell 32.8%
- Backlog of $26.8M as of March 31, 2026 across three projects
- Stock-based compensation increased to $2.1M from $0.5M
Financial Impact
Revenue decline of $11.5M (38.8%) and swing from $1.4M profit to $10.3M loss, with $14.7M credit provision.
Risk Factors
- Further project delays and contract cancellations due to prolonged government approvals
- Credit loss provisions may increase if customer payments continue to be delayed
- Liquidity risk given low cash balance ($67K) and reliance on customer collections
- Execution risk on new energy diversification strategy
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3296152 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 25, 2026 8w ago | 3 | $0.9800 | awaiting T+60 | — | $1.04 (−6.26%) |
Jul 28, 2026 13w ago | 6-K | $0.9502 $1.14 | ▼ −19.97% | ▼ −15.62% | $1.04 (−9.59%) |
Jul 7, 2026 16w ago | 6-K | $2.02 $1.22 | ▼ −39.60% | ▼ −41.60% | $1.04 (−48.45%) |
Jul 6, 2026 16w ago | 6-K | $2.14 $1.22 | ▲ +42.99% | ▲ +44.90% | $1.04 (+51.34%) |
May 28, 2026 21w ago | 6-K | $7.13 $1.18 | ▼ −83.44% | ▼ −85.17% | $1.04 (−85.39%) |
May 15, 2026 23w ago | 6-K | $8.63 $1.22 | ▲ +85.86% | ▲ +90.71% | $1.04 (+87.93%) |
May 15, 2026 23w ago | Press Release | $8.63 $1.22 | ▲ +85.86% | ▲ +90.71% | $1.04 (+87.93%) |
Apr 3, 2026 29w ago | 3 | $8.03 $2.12 | ▼ −73.58% | ▼ −87.05% | $1.04 (−87.02%) |
Mar 11, 2026 32w ago | EFFECT | $9.50 $6.93 | ▼ −27.05% | ▼ −38.57% | $1.04 (−89.04%) |
Mar 3, 2026 33w ago | F-1 | $0.3170 $0.2850 | ▲ +10.09% | ▲ +20.18% | $1.04 (−228.49%) |
US Market Status
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