0001104659-26-061779
SEC filingQ1 2026 delivered deeper operating and net losses versus prior year, driven by elevated R&D and operational expenses contrasting last year's non-cash gains, while revenue held steady and cash burn moderated amid working capital timing shifts.
Net income flipped to a -$7.1M loss from a $21.5M profit last year, driven by the absence of prior-period non-cash warrant liability gains that had boosted 2025 results. Diluted EPS followed suit at -$0.53 versus $2.09, highlighting the volatility from non-operating items and the shift to core operational losses. Management notes the company has not achieved profitability since inception and anticipates continued net losses for the foreseeable future tied to product development and regulatory pursuits.