0001213900-26-057529
SEC filingBio Essence swung to profitability on a 22x revenue surge from a single large OEM customer, but cash burn deepened and the balance sheet remains precarious.
Revenue for the three months ended March 31, 2026, was $500.5K, compared to $22.2K in the same period last year. The significant increase was primarily attributable to a higher volume of OEM service orders, including large orders from one new major customer. Cost of revenues increased accordingly, mainly due to the increase in revenues.
Gross profit rose to $319.4K from $20.6K, yielding a gross margin of 63.8%. The increase in gross profit was mainly due to the increase in revenues. Operating income was $215.8K, compared to an operating loss of $205.1K in the prior year, reflecting operating leverage and cost controls. Net income was $205.4K, versus a net loss of $205.8K last year.
The company's outlook depends on sustaining revenue growth and managing liquidity. Recoverability of long-lived assets is measured by comparing carrying amount to estimated undiscounted future cash flows.