Trio Petroleum Corp Revenue Disclosure
NOTE 4 – REVENUE FROM CONTRACTS WITH CUSTOMERS
Disaggregation of Revenue from Contracts with Customers
The following table disaggregates revenue by significant product type for the periods below:
| As of October 31, | As of October 31, | |||||||
| 2025 | 2024 | |||||||
| Oil sales | $ | 398,734 | $ | 213,204 | ||||
| Total revenues from customers | $ | 398,734 | $ | 213,204 | ||||
There were no significant contract liabilities or transaction price allocations to any remaining performance obligations as of October 31, 2025 or 2024.
Significant concentrations of credit risk
The Company’s revenue is primarily generated from oil and gas sales in California, United States, and Saskatchewan, Canada. For the years ended October 31, 2025 and 2024, 100% of total revenue comes from customers located in these regions. Changes in state and provincial regulations, market conditions, or environmental policies could significantly impact the Company’s financial performance. Additionally, fluctuations in commodity pricing and regional demand trends within California and Saskatchewan may affect future revenues.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jan 20, 2026 | Showing above |
| 2024 | Jan 17, 2025 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.