0001628280-26-035109
SEC filingOperating losses widened and cash burn accelerated in Q1 2026, driven by post-merger integration costs and higher R&D investments, while net loss improved slightly due to non-cash items.
Gross profit was -$7.5 million in Q1 2026, compared to -$4.5 million in Q1 2025, a 65.4% decline. The worsening gross loss reflects higher costs associated with the combined company's operations post-merger, including increased material and manufacturing costs.
Net income was -$19.9 million in Q1 2026, compared to -$20.6 million in Q1 2025, an improvement of 3.7%. The improvement was aided by a non-cash gain from stock rights revaluation, which partially offset the deeper operating losses. Diluted EPS improved to -$1.99 from -$4.68, a 57.5% improvement, reflecting the net loss improvement and changes in share count.