0001493152-26-009711
SEC filingImpact 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.
Impact BioMedical Inc. reported a challenging fiscal year 2025 with a net loss of $11.9 million on minimal revenue of $32,000. The company's operating loss was $4.3 million, driven by total costs and expenses of $4.3 million. Significant impairment charges totaling $25.1 million for goodwill and $263,000 for fixed assets contributed substantially to the losses. The loss from operations before income taxes was $14.4 million, which included a $9.4 million change in fair value of a related party note payable that partially offset operating losses. The company reported a net loss attributable to common stockholders of $11.8 million, with basic and diluted loss per share of $0.00.
The company generated only $32,000 in total revenue for fiscal year 2025. No segment breakdown or geographic mix information was provided in the available data. The minimal revenue suggests the company is in early stages of commercialization or development of its products. Cost of revenue was $424,000, significantly exceeding the revenue generated, indicating the company is operating at a substantial loss on its core business activities. No specific growth drivers or product line details were disclosed in the provided financial data.
The company reported negative gross margin as cost of revenue ($424,000) exceeded total revenue ($32,000). Operating margin was negative due to the $4.3 million operating loss on $32,000 revenue. The cost structure included significant impairment charges totaling $25.1 million for goodwill and $263,000 for fixed assets. Other major expenses included professional fees of $1.0 million, depreciation and amortization of $1.1 million, sales, general and administrative compensation of $873,000, and research and development expenses of $340,000. The company's expense base far exceeded its revenue generation capacity.
The company used $1.9 million in cash from operating activities during fiscal year 2025. Investing activities provided $3,000 from payments received on notes receivable, while financing activities used $109,000, resulting in a net decrease in cash of $2.0 million for the year. The balance sheet shows total assets of $17.4 million, primarily consisting of $17.0 million in other intangible assets, net. Current assets totaled $411,000, including only $3,000 in cash and cash equivalents. Total liabilities were $1.9 million, with $1.2 million in current liabilities including $8.9 million in note payable to related party. Stockholders' equity was $15.6 million, with accumulated deficit of $49.5 million.
No specific management guidance, strategic priorities, or forward-looking statements were provided in the available financial data. The company's minimal revenue, significant losses, and low cash position of $3,000 suggest substantial challenges ahead. The significant impairment charges indicate potential issues with asset valuations. The company's reliance on related party financing, as evidenced by the $8.9 million note payable to related party, suggests ongoing funding needs. No specific risk factors or strategic initiatives were disclosed in the provided financial statements.