Impact BioMedical Inc.

Impact BioMedical Inc. reported a net loss of $11.9 million for fiscal year 2025, with total revenue of only $32,000. The company's operating loss was $4.3 million, driven by total costs and expenses of $4.3 million, which included significant impairment charges of $25.1 million for goodwill and $263,000 for fixed assets. The loss from operations before income taxes was $14.4 million, partially offset by a $9.4 million change in fair value of a related party note payable. The company ended the year with $17.4 million in total assets, primarily consisting of $17.0 million in other intangible assets, net, and only $3,000 in cash and cash equivalents. Total liabilities stood at $1.9 million, with stockholders' equity of $15.6 million. The company used $1.9 million in cash from operating activities and experienced a net decrease in cash of $2.0 million for the year.

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