How did SKYQ's revenue and expenses shift in Q4 2024?

In Q4 2024, SKYQ's financial performance was characterized by a decline in revenue and a significant increase in net losses, primarily due to a substantial rise in the cost of goods sold and operating expenses.

1. **Revenue Shift**:
- SKYQ's total revenue for Q4 2024 was $8.62 million.
- The company's revenue was distributed across various business segments, including Diesel, Liquid Asphalt, Vgo, Naphtha, and Other, each generating approximately $4.19 million in revenue.
2. **Cost of Goods Sold (COGS) and Gross Margin**:
- The COGS for all segments was $6.35 million, resulting in a gross margin of -5.97%.
- This indicates that the cost of goods sold exceeded revenue, leading to a negative gross margin.
3. **Net Income**:
- SKYQ reported a net loss of $4.2 million for Q4 2024.
- The net loss was a result of the negative gross margin and increased operating expenses.
4. **Operating Expenses**:
- The operating expenses for Q4 2024 were not provided, but the net loss of $4.2 million suggests that these expenses were significant enough to overwhelm the revenue, leading to a negative net income.
5. **Operating Margin**:
- The operating margin was not calculated directly, but the negative net income and the fact that the gross margin was negative indicate that the company was operating at a loss.

In conclusion, SKYQ faced a challenging quarter in Q4 2024, with revenue unable to cover the cost of goods sold, leading to a substantial net loss. The company's focus may need to shift towards cost control and potentially improving the pricing or mix of its products to achieve profitability.