Stark Novus Q2 net loss widens to $1.06 million from year-ago profit

NRDE•2026-08-14

Stark Novus Financial posted a net loss of $1.06 million for the quarter ended June 30, 2026, swinging from net income of $742,000.
Net loss attributable to common shareholders widened to $1.84 million from $19,000, reflecting $782,000 of accrued preferred dividends.
Selling, general and administrative expense fell 7.9% to $1.55 million, on lower legal and professional fees as claims resolution winds down.
Operating loss widened to $1.55 million from $357,000 as the prior-year period included a $1.33 million net litigation benefit.
Cash and cash equivalents totaled $21.5 million at June 30, 2026; six-month net cash used in operating activities improved to $3.53 million.

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