Intercont Reports FY2026 Net Loss of $10.7M Amid Flat Revenue; Auditor Changes; Material Weaknesses Continue
Intercont (Cayman) Limited reported FY2026 revenue of $25.4 million, essentially flat versus $25.1 million in FY2025, while recording a net loss of $10.7 million compared to net income of $3.1 million in the prior year, reflecting increased operating costs and expenses. The independent auditor issued a going concern opinion dependent on shareholder financial support through October 31, 2027, and identified material weaknesses in internal control over financial reporting that remain unremediated from FY2025, with...
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