Celtic have reported a pre-tax loss of £6.6 million.
This comes after their revenue fell by more than £32 million in a season outside the Champions League.
The club's annual results for the year ending June 30, 2026, show a 22.7 per cent drop in turnover to £111 million, down from £143.6 million the previous year.
Operating expenses, including labour costs, rose by 4.3 per cent to £122.1 million, while gains from player sales fell from £31.5 million to £16 million.
This marks a significant reversal from the £45.7 million pre-tax profit recorded in 2025.
After tax, Celtic posted a £4.8 million loss, compared with a £33.9 million profit a year earlier.
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Cash held at the year-end fell by £10.9 million to £66.4 million.
Chairman Brian Wilson said: "As well as directly impacting UEFA distributions, this also had a knock-on effect on other parts of the club including ticketing income and retail."
He attributed the annual loss to a combination of lower revenue, increased costs, primarily wages and salaries, reduced gains from player trading, and higher player amortisation charges.
These charges rose from £13.8 million to £15.4 million.
The accounts recorded £15.6 million in acquisitions of player registrations, compared with £38.6 million in 2025.
The statement also confirmed a total cost of £31.6 million for six permanent signings made after the June 30 year-end: Kasper Høgh, Camilo Duran, Mika Baur, Haissem Hassan, Joel van den Berg, and Jordan Lotomba.
Landon Emenalo, Shim Mheuka, Sam Johnstone, and Oliver Sørensen joined on temporary deals.
This summer activity falls outside the financial reporting period, as do the permanent departures of Maik Nawrocki, Daizen Maeda, Arne Engels, Reo Hatate, and Johnny Kenny.
Luis Palma and Hayato Inamura were sold before the year-end.
Wilson's statement also addressed the managerial upheaval of last season, describing Brendan Rodgers' departure as "an unanticipated event which initiated a period of instability."
He acknowledged that the subsequent appointment of Wilfried Nancy had failed.
Wilson praised Martin O'Neill's return and the resilience shown by the players and coaching staff in securing the domestic double.
However, he acknowledged the setbacks at the start of the current campaign, describing the Champions League qualifying defeat to LASK as "deeply disappointing for every supporter of the club."
