Sky Quarry Inc. has reported its financial results for the first quarter of 2025, showing a revenue of $6.3 million. This figure represents a 50% increase from the previous quarter, Q4 2024, but a decrease from $11.0 million in the same period of 2024. The decline in year-over-year revenue was primarily attributed to challenges in reestablishing supply streams after the Foreland Refinery outage and refurbishment in mid-2024, as well as lower commodity prices, with WTI crude dropping from $87 per barrel in April 2024 to $71 per barrel by the end of Q1 2025. The company reported a net loss of $3.3 million for the quarter, which is an increase from the $2.5 million net loss in the same quarter last year. Sky Quarry's gross profit for Q1 2025 was negative $726,000, compared to a positive gross profit of $569,000 in the prior-year period. Operating expenses rose to $1.94 million, up from $1.61 million in Q1 2024, due to higher general and administrative costs, non-cash share-based compensation, and depreciation. In terms of business updates, Sky Quarry has signed non-binding Letters of Intent with Southwind RAS in the Midwest and R & R Solutions in the Southwest. These agreements aim to evaluate partnerships that could expand the company's geographic footprint and provide access to over 1.5 million tons of asphalt shingle supply annually, potentially unlocking new revenue opportunities through facility development and expanded processing capacity.