Latest Quarterly Report
Filed: 2026-05-15
Key Insights
- Revenue surged to $500.5K in Q1 2026 from $22.2K in Q1 2025, a 22.5x increase driven by OEM services, demonstrating significant business traction and potential market validation.
- Company achieved profitability with $205.4K net income in Q1 2026 versus a $205.8K net loss in Q1 2025, representing a substantial $411.2K swing that marks a critical inflection point.
- Stockholders' deficit improved significantly from $2.07M to $1.43M through a combination of profitability and $440K in equity financing (8.8M new shares issued), though the company remains technically insolvent.
- Operating lease liabilities of $1.51M represent 68% of total current liabilities and pose a material cash flow risk; combined with negative operating cash flow of $411.9K in Q1, the company faces near-term liquidity pressure.
- Customer deposits decreased from $848.6K to $611.1K, suggesting either fulfillment of prior orders or customer cancellations, which warrants clarification regarding revenue sustainability and customer concentration.