Kelso Technologies Posts $454,901 Quarterly Loss as Revenue Falls

Kelso Technologies Inc. posted a $454,901 loss for the quarter ended Sept. 30, 2026, as revenue fell about 37% from a year earlier and gross margin contracted to 30%.

The rail-products company had net income of $182,851 in the year-earlier quarter. Revenue declined to $1,756,751 from $2,808,144, while gross profit fell to $531,995 from $1,166,259. The gross margin was 42% in the same period last year.

Basic and diluted loss per share from continuing operations was $0.01. Earnings per share from discontinued operations were $0.00. Kelso's interim financial statements were prepared under International Financial Reporting Standards (IFRS) and expressed in U.S. dollars.

Kelso attributed the lower quarterly revenue to reduced North American tank-car deliveries. The company has one reportable segment, designing, producing and distributing proprietary products for the rail sector. Its operations and long-term assets are in the United States.

For the nine months ended Sept. 30, Kelso recorded revenue of $5,751,306 and a net loss of $1,212,859. Basic and diluted loss per share from continuing operations for that period was $0.02.

At quarter-end, Kelso had $81,974 in cash. It had drawn $500,000 on its revolving credit facility, with another $500,000 available.

The interim statements were unaudited and had not been reviewed by the company's independent auditor.