CYANOTECH (CYAN) Company Report

Cyanotech reported net sales of $6,976,000 for the second quarter of fiscal 2026, marking a 19.3% increase compared to $5,845,000 in the second quarter of fiscal 2025.
The company achieved a gross profit of $2,393,000 with a 34.3% gross profit margin in Q2 FY2026, an improvement from $1,479,000 and 25.3% in the prior year's second quarter.
For the second quarter of fiscal 2026, Cyanotech recorded net income of $1,000, or $0.00 per diluted share, compared to a net loss of $1,150,000, or $0.16 per diluted share, in the same period last year.
For the trailing twelve months ended September 30, 2025, net sales were $25,269,000, and the net loss was $1,776,000, or $0.25 per diluted share.
CEO Matthew K. Custer noted continued momentum in sales growth and profitability, driven by higher bulk sales, strong online performance, increased production volumes, and price increases for Nutrex-brand products.

Nov 10, 2025, 1:00 PM

Cyanotech Amends Promissory Note and Extends Maturity

CYAN

Debt Issuance

Cyanotech Corporation entered into a Fifth Amendment to its Amended and Restated Promissory Note with Skywords Family Foundation, Inc. on August 29, 2025.
The amendment increases the maximum revolving amount available to the company from $4,000,000 to $4,600,000.
The maturity date of the revolving loan has been extended by one year, from April 12, 2026, to April 12, 2027.
The minimum draw amount under the note was lowered from $250,000 to $200,000.
Skywords Family Foundation, Inc., the lender, is controlled by Michael Davis, Cyanotech's Chairman of the Board of Directors and largest stockholder.