Sparta net loss widens 35% to $2.87 million in FY26; revenue rises 47% to $345,312
Reuters2026/08/13 21:29- Sparta Commercial Services posted a net loss attributable to common stockholders of $2.87 million, widening from the prior year.
- Revenue rose 47% to $345,312, driven primarily by higher merchant financing fees.
- General and administrative expense climbed 70% to $2.43 million, reflecting a $751,152 provision for credit losses.
- Other expense totaled $741,091, including $858,807 of financing costs offset by a $108,264 derivative valuation gain.
- Cash needs were met through $345,312 of revenue, $265,000 from common share sales, and $592,000 of convertible notes.
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