0001850902-26-000008
SEC filingRevenue grew 13% to $11.1M, driven by Clinical Solutions, while operating loss narrowed to -$4.3M as the company balanced growth investments with cost discipline.
Revenue for the first quarter of 2026 increased 13.1% to $11.1 million compared to $9.8 million in the same period last year. The growth was primarily driven by Clinical Solutions, which benefited from an increased number of customers and higher average revenue per customer. Lab Essentials revenue also contributed, supported by higher average revenue per customer, though partially offset by a decrease in the number of customers.
Operating loss improved 13.4% to -$4.3 million from -$5.0 million in the prior year. The improvement was driven by lower general and administrative expenses, which more than offset increases in sales and marketing spend. The company continued to invest in headcount and marketing to support growth, while maintaining discipline in other operating costs.
The company continues to monitor macroeconomic conditions, including inflation and interest rate uncertainty, which could impact customer ordering patterns. Management remains focused on investing in sales and marketing to capture growth opportunities, while managing costs to narrow operating losses. The company relies on a limited number of suppliers for certain raw materials and orders on a purchase order basis, which introduces supply chain risk.