0001213900-26-056586
SEC filingQ3 FY2026 delivered a challenging quarter with revenue declining 60.9% to $167K from reduced project volume, wider operating losses, and persistent cash burn, though net loss narrowed 9.7% to -$5.5M versus prior year amid cost-saving efforts.
Pluri Inc. (PLUR) reported Q3 FY2026 results reflecting a significant downturn in project activity that drove core financial pressures. Revenue declined 60.9% year-over-year to $167K from $427K, primarily due to lower volume of projects compared to the prior year period. This topline contraction directly impacted gross profit, which fell 58.8% to $56K from $136K. The decrease in cost of revenues aligned with the reduced activity, featuring lower materials usage, personnel costs, and allocated overhead, resulting in a gross margin of 33.5%.
On a positive note, the net loss narrowed 9.7% to -$5.5M from -$6.1M, with diluted EPS improving 41.5% to -$0.55 from -$0.94. These improvements stem from non-operating factors, providing some relief from the operating pressures.
Cash flow dynamics showed modest stabilization in usage. Net cash provided by operating activities was -$13.0M, an improvement from -$13.7M in the prior year quarter. After $607K in capital expenditures—down from $897K—free cash flow reached -$13.6M. These figures reflect ongoing cash consumption to fund R&D and operations in a pre-revenue growth phase for Pluri's stem cell technologies.
Liquidity remains a critical focus, with management actively implementing cost-saving initiatives to address challenges and ensure continuity of activities. These measures aim to extend runway while pursuing strategic objectives in regenerative medicine. Investors should monitor project pipeline momentum and funding developments for signs of inflection.