TARRYTOWN, NY / ACCESS Newswire / August 19, 2026 / CreditRiskMonitor.com, Inc. (OTCQX:CRMZ) reported revenues of $5.2 million, an increase of approximately 2%, for the second quarter of fiscal 2026 compared to the same period of fiscal 2025. The Company reported an operating loss of approximately $664 thousand for the second quarter of fiscal 2026 compared to an operating loss of approximately $8 thousand for the same period of fiscal 2025. The decrease in operating income was primarily driven by increased expenses related to the addition of senior technology leadership, extraordinary professional services incurred during transformation initiatives, and recording sales tax. The Company reported a net loss of approximately $475 thousand for the second quarter of fiscal 2026 compared to a net income of approximately $135 thousand for the same period of fiscal 2025.
Mike Flum, CEO, said, "I want to start by addressing the restatement directly. Upon management's initiative, the Company commissioned a nexus study with an external tax advisor and determined that it had established economic and physical nexus in state and local jurisdictions in which it had not been collecting and remitting sales and use tax or filing income tax returns. We have recorded a sales tax liability of approximately $2 million and an income tax liability of approximately $210 thousand, inclusive of interest, though our review remains ongoing and these figures are subject to change pending resolution with each impacted state. These updated figures reflect a revision from our preliminary estimate disclosed in our August 6, 2026 Form 8-K as additional jurisdictions were evaluated.
