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Omaha, NE, Nov. 13, 2024 (GLOBE NEWSWIRE) -- CleanCore Solutions, Inc. (NYSE American: ZONE) (“CleanCore” or the “Company”), developer of patented technology that works as a safe and low-cost replacement for traditional cleaning chemicals, today reported its first quarter 2025 financial results and provided a business update.
“We continued to make important progress during the quarter including expanding our customer base and entering new verticals that are seeking effective cleaning solutions that also provide cost savings,” commented, Clayton Adams, CEO of CleanCore Solutions. “Our past quarter, although we experienced 12% year-over-year revenue growth, was impacted by increased costs associated with going public and a lengthier sales cycle due to the structure of the global Fortune 500 clients in our pipeline. Our strategic shift to add a direct sales model, combined with increased investment in our sales force and marketing efforts, is projected to substantially boost our monthly recurring revenues in the coming quarters.”
“Our early market traction is evident in our new customer agreements. For example, we recently announced an initial Purchase Agreement with a large building service contractor within the transportation field. We also expanded our penetration within the education vertical with Montessori Schools, which follows deployment of over 200 cleaning systems at a leading university located in the western United States. We believe the demand for our innovative products reflects a strong industry shift toward sustainable solutions that prioritize both safety and environmental impact as well as cost savings. CleanCore’s eco-friendly, health-conscious solutions are designed for high-traffic, sensitive environments such as restaurants, schools and daycares, hotels, airports, and transportation fleets. We are extremely excited about the future of our Company as we begin to reap the benefits of our investments and strategic positioning.”
Financial Results
Revenue for the three months ended September 30, 2024 was approximately $365,000 compared to approximately $326,000 for the three months ended September 30, 2023. General and administrative expenses increased to approximately $916,000 for the three months ended September 30, 2024 compared to approximately $510,000 for the three months ended September 30, 2023. This increase was primarily related to an increase in professional fees, costs related to going public, European certifications needed for overseas distribution, and stock related compensation. Net loss for the three months ended September 30, 2024 was approximately $856,000 compared to approximately $437,000 for the three months ended September 30, 2023.