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SEC filingNarrower Q1 losses reflect gross profit surge from customer contract modifications and cost efficiencies, despite modestly higher operating expenses, as SCWorx advances software development amid Nasdaq delisting risk.
SCWorx Corp. (WORX) reported Q1 FY2026 results showing meaningful progress in reducing losses through revenue growth and gross margin expansion, even as operating expenses rose modestly. Revenue grew 3.4% year-over-year to $744.9 thousand from $720.3 thousand. This increase was primarily due to the modification of certain customer contracts as well as new customer contracts during the current year, demonstrating sustained customer momentum in the healthcare IT solutions provider's core business.
The net loss narrowed 63.5% to -$173.8 thousand from -$476.3 thousand, with diluted EPS improving to -$0.16 from -$0.25. Other expenses declined due to a reduction in the balance of existing convertible notes as well as a reduction in amortization of note discounts during the current year period, contributing to the bottom-line progress.