Executive Summary

Q2 2025 revenue was $1,666,309, down 16.1% year over year (vs. $1,985,768 in Q2 2024) but up 15.0% sequentially (vs. $1,449,377 in Q1 2025); diluted EPS was ($0.31) vs. ($0.04) YoY and ($0.32) QoQ .
No formal financial guidance was provided; management emphasized commercial progress: strategic partnership with Revival Health, India cold-chain subsidiary launch, and extension of the City of Chicago emergency preparedness contract to June 2026, with total contract value now $9.1M (+$1.5M funding increase) .
Gross profit was $643,870 (38.7% gross margin) vs. $615,940 (42.5%) in Q1; operating loss widened to ($1,402,667) from ($1,238,376) due to higher SG&A ($2,046,537 vs. $1,854,316) as the company scales and bears incremental public-company costs .
Liquidity remains adequate with cash and equivalents at $4,224,151 and an equity line of credit for up to $25,000,000 post quarter-end, providing flexibility to fund expansion initiatives and working capital .

What Went Well and What Went Wrong

What Went Well

Sequential revenue growth of 15.0% driven by operational execution; gross profit rose to $643,870, with management crediting recent business wins and expansion initiatives .
Strategic actions: partnership with Revival Health to build an integrated supply platform for health, wellness, and longevity products; CEO: “We were proud to form a strategic partnership with Revival…” .
International expansion: subsidiary launched in India to establish temperature-controlled pharmaceutical warehousing; CEO: “This international expansion positions us to import critical tissue samples…helping address U.S. drug shortages” .

What Went Wrong

Year-over-year revenue declined 16.1% due to lower demand for emergency preparedness services from certain states and local governments .
Operating loss widened QoQ to ($1,402,667) from ($1,238,376), as SG&A increased to $2,046,537 reflecting consulting, professional, marketing, and new payroll costs tied to public-company status and senior hires .
Gross margin compressed QoQ (38.7% vs. 42.5%) as revenue mix and scaling costs weighed on unit economics; management did not provide margin guidance in the quarter .

Financial Results

Metric	Q2 2024	Q1 2025	Q2 2025
Revenue ($USD)	$1,985,768	$1,449,377	$1,666,309
Gross Profit ($USD)	$962,216	$615,940	$643,870
Gross Margin (%)	48.5% (962,216/1,985,768)	42.5%	38.7% (643,870/1,666,309)
SG&A ($USD)	$1,095,639	$1,854,316	$2,046,537
Operating Income (Loss) ($USD)	($133,423)	($1,238,376)	($1,402,667)
Net Income (Loss) ($USD)	($112,476)	($1,240,590)	($1,397,523)
Diluted EPS ($USD)	($0.04)	($0.32)	($0.31)

Actual vs. Consensus (Q2 2025)	Revenue	EPS
Actual	$1,666,309	($0.31)
S&P Global Consensus Mean	Unavailable*	Unavailable*

Values retrieved from S&P Global.*

Liquidity and Shares	Q1 2025	Q2 2025
Cash & Equivalents ($USD)	$5,219,929	$4,224,151
Weighted Avg Shares (Basic & Diluted)	3,862,507	4,456,962

No segment breakdown was disclosed in the Q2 press release/8-K .

Guidance Changes

Metric	Period	Previous Guidance	Current Guidance	Change
Revenue	FY/Q2 2025	None provided	None provided	Maintained (no guidance)
Gross Margin	FY/Q2 2025	None provided	None provided	Maintained (no guidance)
SG&A/OpEx	FY/Q2 2025	None provided	None provided	Maintained (no guidance)
Tax Rate	FY/Q2 2025	None provided	None provided	Maintained (no guidance)
Contract Value (Emergency Preparedness – Chicago)	Through Jun 2026	$7.6M	$9.1M (+$1.5M increase)	Raised
Financing Capacity (Equity Line)	Post-Q2 2025	N/A	Up to $25M	New Facility

No formal numeric revenue/EPS guidance ranges were provided this quarter .

Earnings Call Themes & Trends

No Q2 2025 earnings call transcript was available; themes below reflect management’s press release commentary.

Topic	Previous Mentions (Q-2 and Q-1)	Current Period (Q2 2025)	Trend
Emergency Preparedness Expansion	Q-2: No public filing found; Q-1: National expansion plans; new Oregon 5-year contract; readiness with Texas DSHS	Chicago contract extended through Jun 2026; +$1.5M increase to $9.1M total value	Positive momentum in government contracts
GLP-1/Specialty Pharma Logistics	Q-1: Target growth in GLP-1 transportation and compounding pharmacy logistics	Focus reiterated; expansion of cold-chain capabilities; India subsidiary to support pharma storage/distribution	Strategic build-out (capability-led)
Global Cold Chain and Clinical Trials	Q-1: Not highlighted globally	India subsidiary launched; plan to import tissue samples and APIs to help address U.S. shortages	New international footprint
Public-Company Readiness/Scaling Costs	Q-1: SG&A increase related to IPO and staffing	SG&A higher QoQ with continued scaling and public-company costs	Cost inflation near term
Outbreak Response/Operational Execution	Q-1: Tennessee immunization initiative; Texas measles standby	Redistributed 1,300+ MMR II doses to TX/NM with zero waste using reusable shippers	Demonstrated capabilities

Management Commentary

Wayne Williams (CEO): “We were proud to form a strategic partnership with Revival to develop a broad supply platform for healthcare products…” .
On international expansion: “This international expansion positions us to import critical tissue samples for clinical trials and active pharmaceutical ingredients, helping address U.S. drug shortages.” .
On emergency preparedness: “Chicago extended our emergency preparedness contract through June 2026 with $1.5 million in additional funding, bringing total contract value to $9.1 million.” .
Strategic focus: “We remain focused on capitalizing on expansion opportunities within fast-growing industries, particularly GLP-1 pharmaceutical distribution, specialty compounding pharmacy logistics, and premium food packaging solutions.” .

Q&A Highlights

No Q2 2025 earnings call transcript was available; Q&A themes and clarifications were not published [List: 0 transcripts found for Q2 2025].

Estimates Context

S&P Global consensus for Q2 2025 revenue and EPS was unavailable for CJMB; actuals were revenue $1,666,309 and diluted EPS ($0.31) .
With limited street coverage post-IPO, we expect models to emphasize contract wins, scaling costs, and ramp timelines for new initiatives; no formal guidance ranges were provided to anchor revisions .
Values retrieved from S&P Global.*

Key Takeaways for Investors

Sequential topline recovery (+15.0% QoQ) amid ongoing YoY headwinds from reduced state/local emergency preparedness demand suggests stabilization; watch for contract-driven growth cadence .
Commercial progress (Revival partnership, India subsidiary) expands TAM in pharma cold chain and clinical trials logistics; near-term investment phase may pressure margins/OpEx before operating leverage emerges .
Government contract momentum (Chicago to $9.1M total) supports baseline revenue visibility, reducing reliance on episodic demand .
SG&A intensity tied to IPO transition and scaling lifted operating loss; monitor cost discipline and timing of revenue conversion from new initiatives .
Liquidity provides runway (cash $4.22M, $25M equity line), but shareholder dilution risk exists if facility is utilized aggressively; deployment discipline is key .
Absence of formal guidance and lack of Street estimates may increase narrative-driven volatility; catalysts include additional contract awards, India site activation, and GLP-1 logistics wins .
Near-term trading: stock could be sensitive to incremental contract announcements and partnership updates; medium-term thesis hinges on translating strategic wins into sustained revenue growth with improving gross margins as scale is achieved .

Appendices

KPIs and Operational Metrics

KPI	Q1 2025	Q2 2025
Chicago Emergency Preparedness Contract (Total Value)	Not disclosed in Q1	$9.1M (extended; +$1.5M)
MMR II Vaccine Redistribution (Doses)	Standby for Texas measles response	1,300+ doses redistributed to TX/NM; zero waste
Cash & Equivalents ($USD)	$5,219,929	$4,224,151
Weighted Avg Shares (Basic & Diluted)	3,862,507	4,456,962

Cash Flow (Six Months Ended)

Metric	6M 2024	6M 2025
Net Cash from Operating Activities ($USD)	$275,524	($2,124,970)
Net Cash Used in Investing ($USD)	($45,874)	($447,506)
Net Cash from Financing ($USD)	($3,537,549)	$4,698,682
Ending Cash & Equivalents ($USD)	$1,847,721	$4,224,151

Notes: No segment reporting provided; no formal quantitative guidance ranges disclosed in Q2 materials .

CALLAN JMB INC. (CJMB)·Q2 2025 Earnings Summary