CALIFORNIA NANOTECHNOLOGIES COR (CANOF) research, news, and more from GeoInvesting

Company description

Mon, 22 Jan 2024 21:04:57 GMT

California Nanotechnologies Corp. engages in the research, development, and production of nanocrystalline materials through grain size reduction. The company provides spark plasma sintering (SPS); cryogenic milling; SPS/FAST tooling; EDM; planetary milling and particle size analysis; hot pressing tooling fabrication and design; wire EDM; machining of metals and metallic alloys; tensile, compression, and hardness testing; planetary ball milling; V-blending/ tumble milling; and particle size analysis through laser diffraction. It also offers SPS starter accessory kits, SPS graphite tooling, SPS systems, tungsten carbide tooling, SPS graphite crucibles, carbon graphite foil/paper, carbon felt and yarn, and quartz glass windows; and Engemini, an SPS/FAST modeling software. It serves aerospace, defense, automotive, medical, sports and recreation, academic, and micro-chip fabrication industries. The company is headquartered in Cerritos, California.

Research

Fri, 30 Jan 2026 15:37:45 GMT

California Nanotechnologies Corp. (TSXV:CNO) (OTC:CANOF) (C$0.35; C$17.5M market cap) announced Q3 2026 results:

Q3 sales of US$392,481 vs. US$1,806,205 in the prior year
Q3 2026 EPS: loss of ($0.02) vs. $0.00 in the prior year
Revenues impacted by delays and no orders from green steel client
Expecting Q4/FY2026 revenue to exceed US$800,000
Signed LOI for US$1.0 million purchase order in military brakes segment following DoD funding approval
First nuclear control rod order received from U.S.-based SMR developer
Actively expanding into nuclear SMR and fusion industries
Strengthened U.S. SPS market presence via relationship with Germany-based Dr. Fritsch
No interest-bearing debt (except lease liabilities); over US$2.0 million in manufacturing equipment to support growth initiatives

Management Commentary:

"This quarter we saw lower revenues than expected due to customer delays as we execute our growth strategy to secure larger commercial contracts," said CEO Eric Eyerman. "We expect the subsequent quarter (Q4/FY2026) to show significantly higher revenues, and more importantly, provide us with added visibility on commercial manufacturing contracts in calendar year 2026. For example, our U.S. military brakes customer recently received necessary government funding approvals, and we are making important progress in the fast-growing nuclear energy industry."

Our Quick Take:

These were extremely disappointing results due to customer delays. The clock is ticking on CalNano, and cash is running low. Cash has decreased from US$533K when they published FY2025 results to US$341K in the current quarter. However, Calnano is exploring debt financing options for future potential equipment and working capital, which could be dangerous if profitability does not improve significantly.

On a positive note, we do like the CEO and his effort to generate revenue from commercial penetration as opposed to research and development revenue projects. The transition is proving to be painful, but if successful, it should be highly beneficial in the long run if they can accomplish these goals without diluting shareholders along the way.

California Nanotechnologies Corp. specializes in developing and producing nanocrystalline materials using advanced processing methods like spark plasma sintering, cryogenic milling, and diffusion bonding, while also offering tooling, materials testing, and modeling software for industries such as aerospace, defense, and medical.

Research

Wed, 05 Nov 2025 05:00:00 GMT

California Nanotechnologies Corp. (TSXV:CNO) (OTC:CANOF) ($0.28; $14.0M market cap) announced it has received two purchase orders valued at approximately US$196,250 from a U.S.-based company specializing in the development of advanced small modular nuclear reactors (SMRs).

Key Takeaway

Although the contracts are small in value, the penetration into commercial markets is moving along, which is encouraging.

California Nanotechnologies Corp. engages in the research, development, and production of nanocrystalline materials through grain size reduction.

Research

Fri, 10 Oct 2025 12:21:40 GMT

California Nanotechnologies Corp. (TSXV:CNO) (OTC:CANOF) ($0.55; $26.4M market cap) announced Q2 2026 results:

Q2 sales of $0.78 million vs. $1.5 million in the prior year, below analyst estimates of $1.0 million
Q2 2026 loss per share: ($0.00) vs. loss of ($0.00) in the prior year, in line with analyst estimates of $0.00
Manufacturing revenues (excluding green steel customer) increased 100% YoY
Green steel customer revenue dropped to $0 vs. $1.12 million in Q2 2025 (was 74% of revenues)
LOI signed for $1.0 million SPS contract for military brake production beginning in 2026
Ongoing discussions for commercial contracts in automotive, defense, energy, thermoelectrics, and industrial sectors
Filed a provisional patent related to advanced armor applications using SPS technologies
Over $2 million in recent equipment investments to support growth

"This quarter was affected by the full decrease in activity from our green steel customer," said CEO Eric Eyerman. "Our team is working hard to diversify and transition toward longer-term, recurring commercial contracts. As a result of these efforts, manufacturing revenues excluding the green steel customer, were up 100% year-over-year. Subsequent to the quarter, we also announced a Letter of Intent (LOI) for our first Spark Plasma Sintering (SPS) commercial production contract for high-performance military brakes. Ongoing advanced discussions with clients are underway, supporting our efforts to build a more sustainable business model."

Research

Thu, 31 Jul 2025 04:00:00 GMT

California Nanotechnologies Corp. (OTC:CANOF) (TSXV:CNO) ($0.51; $23.8M market cap) announced Q1 2026 results:

Q1 sales of US$716,553 vs. US$1,748,826 in the prior year
Q1 EPS: loss of US$0.00 vs. US$0.02 in the prior year

Noteworthy Disclosures:

Positive cash flow from operations of US$71,589
Revenues from the green steel customer and equipment deliveries declined to US$144,198 (20% of total Q1 revenues) from US$1,526,410 (87%) in Q1 2025
Manufacturing revenues from all other customers increased to US$572,355, up 156% YoY
Cal Nano delivered first batches under commercial production orders with Oerlikon Metco and AbTech Industries
Ongoing advanced customer discussions in automotive, defense, energy, and industrial sectors
Management expects improved revenue and adjusted EBITDA in Q2 FY2026

Management Commentary:

"This quarter was impacted by a reduction in revenues from our green steel customer as previously disclosed," stated CEO Eric Eyerman.

"In recent quarters, we have pursued efforts to diversify our customer base and transition to longer-term recurring commercial contracts. We saw progress from this initiative with manufacturing revenues, excluding the green steel client, growing 156% year-over-year and customer concentration down significantly. We expect revenue improvements in subsequent quarters as we ramp up business with existing customers and bring new ones online, with whom we are in advanced discussions."

Research

Thu, 26 Jun 2025 04:00:00 GMT

California Nanotechnologies Corp. (TSXV:CNO) (OOTC:CANOF) ($0.45; $29.0M market cap) announced Q4 2025 results:

Q4 2025 sales of $1.15M vs. $0.98M in the prior year
Q4 2025 EPS: $0.00 vs. $0.01 in the prior year
Full-Year 2025 sales of $6.22M vs. $3.34M in the prior year
Full-Year 2025 EPS: $0.00 vs. $0.01 in the prior year

Management Commentary:

"This fiscal year saw significant investments in our overall business and strong execution to ramp up our manufacturing services accordingly," stated CEO Eric Eyerman. "Cal Nano is entering a new phase of maturity where we aim to create more predictability and scale with recurring commercial orders. This is expected to help fill the capacity at our new Santa Ana facility and diversify our revenues across industries and customers. We are off to a good start with the first recurring commercial orders announced in April 2025, and we believe this strategy will contribute to more sustainable growth long-term."

“As announced in April, the Company has seen a reduction in activity from its green steel customer after achieving certain performance targets. The transition in the customer's R&D efforts has impacted results in Q1/FY2026. Cal Nano continues to drive its goal of diversifying its revenues and securing commercial production contracts, which are expected to be more predictable and recurring in nature. Q1/FY2026 has shown progress in this strategy and the concentration in revenues from the green steel customer in the quarter is significantly lower than in FY2025”

Noteworthy Disclosures:

Commercial Orders & Recurring Revenue Strategy: Company began receiving recurring commercial orders in April 2025.
Customer Concentration Shift: Green steel cleantech customer accounted for 63% of FY2025 revenue, but significantly lower in Q1 FY2026, indicating diversification progress.
Debt Update: Fully repaid borrowings from Omni-Lite Industries Canada Inc.; no longer considered a "going concern."
Equipment Investment: Over $2 million invested in new equipment during FY2025.
Outlook: Management expects reduced capital commitments in FY2026 with focus shifting to improving equipment utilization and contribution margin.
Guidance for Q1 FY2026: Activity from the largest customer declined after achieving R&D goals, which will impact Q1 FY2026 results, though progress in diversification strategy is cited.

Key Takeaways:
We were somewhat worried about customer concentration risk due to the company's disclosure in a prior release regarding its largest customer pausing orders. However, it’s great to see that they are quickly working on a diversification strategy, which seems to be bearing fruit. We continue to believe the company is set up for great long-term success, even if there’s a short term pause in growth due to the customer concentration risk.

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Research

Mon, 21 Apr 2025 17:24:47 GMT

California Nanotechnologies (OTC:CANOF) (TSXV:CNO) ($0.51; $33.49M market cap) is moving deeper into commercial production, announcing two purchase orders totaling $US115,000 from Oerlikon Metco and AbTech Industries. These orders mark the company’s first step beyond R&D services and into recurring revenue opportunities tied to larger-scale manufacturing.

In addition, CANOF has completed its ISO 9001 Quality Management Systems certification. The accreditation, which covers Spark Plasma Sintering across both the Cerritos and Santa Ana facilities, is a key prerequisite for securing larger commercial contracts across industries.

Management expects both clients to continue ordering on an ongoing basis.

"Today is an important milestone in Cal Nano’s history," stated CEO Eric Eyerman. "We have successfully made the transition from being a pure research and development (R&D) manufacturing service provider over the last six years to now also serving our customers’ commercial applications and needs. These orders, along with the ISO 9001 certification, set us up well as we build our commercial platform and solidify our presence as a domestic advanced materials manufacturer."

Seeing slowdown in activity from one customer:

“Cal Nano has seen a recent slowdown in activity from its green steel customer, who the Company understands has achieved certain performance targets, resulting in a period of transition for their R&D efforts. The decrease in fundamental R&D work is expected to impact the Company's fiscal first quarter. There is potential for an impact in subsequent quarters. However, based on discussions with the customer, Cal Nano currently believes that R&D activity will rebound later in calendar year 2025, although it should be noted that this is not certain at present.

As evidenced by the orders announced today, Cal Nano continues to drive its goal of diversifying its revenues and securing commercial production contracts, which are expected to be more predictable and recurring in nature. The Company continues to progress its discussions for several such opportunities.”

One thing we will be looking into is how significant this customer has been to the company's recent growth.

California Nanotechnologies Corp. engages in the research, development, and production of nanocrystalline materials through grain size reduction.

Research

Wed, 15 Jan 2025 21:21:52 GMT

California Nanotechnologies Corp. (TSXV:CNO) (CANOF) ($0.63; $29.3M market cap), reported Q3 2025 results:

Sales of $1.8 million vs $1.1 million in the prior year
Adjusted EBITDA US$826,453 for the quarter compared with US$426,686 in the prior year period.
Adjusted EPS of $0.01 vs $0.01 in the prior year

"Our momentum has continued into this fiscal quarter as we executed our growth plan and commissioned Santa Ana," stated CEO Eric Eyerman. "This led to record revenues, gross profit, and adjusted EBITDA, which all showed strength despite incurring higher costs to support our flagship manufacturing facility. Given the higher manufacturing capacity, key investments completed, and continued customer innovation, we look forward to seeing these initiatives' potential long-term impact."

Within the quarter, Cal Nano achieved a significant milestone by repaying the remainder of its approximately US$600,000 borrowings from Omni-Lite Industries Canada Inc. ("Omni-Lite"). This marks the first time the Company has been debt free in approximately 15 years after receiving its first intercompany advance from Omni-Lite. The final repayment was made ahead of its scheduled maturity in May 2025, providing interest savings."

Even though sales were up nicely for the quarter, earnings-per-share were flat, due to the increase in operating expenses and the dilution from warrant conversion. We assume opex coincides with investments made in conjunction with the company’s recently completed manufacturing capacity upgrades.

We will be addressing this topic on a skull session briefing update live event with the CEO, Eric Eyerman. The event is currently being scheduled.

California Nanotechnologies Corp. engages in the research, development, and production of nanocrystalline materials through grain size reduction.

Research

Mon, 18 Nov 2024 05:00:00 GMT

California Nanotechnologies Corp. (CNO.V) (CANOF) ($0.67; $28.7M market cap), announced it has made the final debt repayment to Omni-Lite Industries.

“This marks the first time the Company has been debt free in approximately 15 years after receiving its first intercompany advance from Omni-Lite. The final repayment was made ahead of its scheduled maturity in May 2025, providing interest savings to the Company.

We are happy to report that Cal Nano is now debt-free after paying off all of the advances received from Omni-Lite," stated CEO Eric Eyerman. "This provides us with more flexibility on how to invest our operating cash flows as we continue scaling our manufacturing services. Given our long history of trying to grow our business while under a significant debt burden, this is a welcome change for us."

This comes on the heels of the company reporting very strong Q2 2025 results in mid-October.

California Nanotechnologies Corp. engages in the research, development, and production of nanocrystalline materials through grain size reduction

Research

Thu, 17 Oct 2024 04:00:00 GMT

California Nanotechnologies Corp. (TSXV:CNO) (CANOF) ($1.00; $42.8M market cap), who reported Q2 2025 results:

Sales of $1.5 million vs $685,931 in the prior year
Adjusted EBITDA showed significant improvements at US$808,970 for the quarter compared with US$292,564 in the prior year period.
Adjusted EPS of $0.01 vs $0.00 in the prior year

“We are happy to report another strong quarter at a time when we also focused on getting our new equipment and infrastructure online at our Santa Ana facility," stated CEO Eric Eyerman. "With the commissioning of our new facility now successfully completed, we have started making parts for customers which is expected to impact our revenue in Q3/FY2025 and onward. While it's too early to be certain about Q3 results, this potentially sets us up for another record revenue quarter. Our attention is now fully focused on increasing the utilization of the new manufacturing capacity, building out our human capital, and scaling our processes."

Congruent with the end of the above quote, during our 7/11/2024 Skull Session with Eric Eyerman, the CEO of CANOF, he discussed scaling production capacity.

California Nanotechnologies Corp. engages in the research, development, and production of nanocrystalline materials through grain size reduction

Research

Tue, 17 Sep 2024 16:40:29 GMT

We also wanted to bring to your attention a little news that we alerted via X this morning on California Nanotechnologies Corp. (TSXV:CNO) (CANOF) ($0.81; $36.8M market cap), who just announced a new manufacturing facility and repaid some debt in the amount of US$338,335.

“This marks an important milestone in expanding the Company's manufacturing capabilities and footprint. This expansion provides the necessary infrastructure to operate its recently purchased equipment and creates additional space for potential production requirements, warehousing, and custom tooling. This infrastructure includes increased electrical current capacity, liquid nitrogen storage, and other associated upgrades.”

“Cal Nano has made a repayment of US$338,335 on its loan payable to Omni-Lite Industries Canada Inc. ("Omni-Lite") in late August 2024, bringing the total of its outstanding loans to US$600,000. As of the payment date, the Omni-Lite loan balance was less than the Company's current cash and cash equivalents balance.”

The main takeaway here is that the new manufacturing facility is now ready for production.

In a prior Skull Session clip with the CEO on July 11, 2024, scaling production capacity was a topic of discussion and is very relevant to today’s news.

CANOF creates and shapes solid products for its customers using nanomaterials - for example, different types of smaller metal products.

Research

Wed, 10 Jul 2024 14:05:28 GMT

Adding CANOF (CNO.V) to Run To $1.00 Model Portfolio After Strong Q1

California Nanotechnologies Corp. (CNO.V) (CANOF) ($0.33; $14.6M market cap) reported Q1 2025 results:

Sales of $1.7 million vs $509,288 in the prior year
EPS of $0.01 vs $0.00 in the prior year

"We continued our momentum this quarter as we work towards commissioning our new Santa Ana facility," stated CEO Eric Eyerman. "Our team has been working hard to set up the infrastructure to support the new SPS and cryomilling equipment while maintaining our growth trajectory with our existing Cerritos-based operations. The new capacity in Santa Ana is expected to allow us to process larger part sizes and higher material volumes, contributing to revenues in Q3/FY2025 and onwards…

…It is anticipated that profitability will fluctuate quarter-over-quarter as the Company continues to invest in advance of capacity expansion and business development.

Over the last 18 months, Cal Nano has committed approximately US$1.5 million of capital for the acquisition and installation of equipment to increase its service capacity. The equipment includes: two used cryomills, two SPS machines, a system enabling 3D material printing using SPS technology, and the supporting infrastructure. The Company expects in the near term that additional capital commitments will be incremental to satisfy targeted capacity requirements. The new equipment is not yet operational and contributing to the Company's operating results.”

CANOF creates and shapes solid products for its customers using nanomaterials. For example, different types of smaller metal products.

Research

Fri, 28 Jun 2024 14:01:20 GMT

California Nanotechnologies Corp. (CNO.V) (CANOF) ($0.28; $12.6M market cap) reported Q4 and full year results:

Q4 sales of $983,004 vs $362,364 in the prior year
Q4 loss per share of $0.00 vs $0.00 in the prior year
Full year sales of $3.3 million v $1.3 million in the prior year
Full year EPS of $0.01 vs $0.00 in the prior year

"FY2024 was a transformative year for Cal Nano as we executed on growth initiatives including the signing of key clients, scaling up R&D contracts, signing a new lease to expand our footprint, and installing additional capacity," stated CEO Eric Eyerman. "We hope to continue the momentum in the new fiscal year, and at this time, we are expecting Q1/FY2025 to be a record quarter in revenue and profitability."

We’re impressed at the revenue gains CANOF made over the last several years and quarters, and now want to understand their path towards sustained profitability.

CANOF creates and shapes solid products for its customers using nanomaterials. For example, different types of smaller metal products.