Executive Summary
The 50 filings for the period ending August 13, 2026, reveal a market bifurcated between a handful of high-growth, capital-intensive companies executing major IPOs and a broad base of micro-cap firms struggling with cash burn, revenue declines, and widening losses.
Key period-over-period trends show a stark contrast: revenue growth at companies like X-Energy (+132% YoY) and Jones Soda (+108% YoY) is driven by new product lines and government contracts, while others like Classover Holdings (-34% YoY) and King Resources (revenue to zero) face severe top-line contraction. A critical portfolio-level pattern is the aggressive use of equity financing—Elmet Group and X-Energy raised a combined $1.2B through IPOs, while several others (Energous, Provectus) relied on at-the-market offerings and convertible notes to stay afloat. Margin compression is a dominant theme, with Energous Corp's gross margin collapsing from 35% to 3% and Elmet Group swinging from a $3.2M operating profit to a $7.6M loss, driven by stock-based compensation and rising G&A. Insider activity is sparse but notable, with several CEOs holding significant positions and no major insider selling detected, suggesting management conviction despite operational challenges. The most critical development is the successful IPOs of X-Energy and Elmet Group, which have transformed their balance sheets and positioned them for aggressive growth, while the persistent cash burn at companies like Global-Smart.Tech (cash down 99% to $81) and Alexander Tech (zero revenue, reliant on related-party loans) signals imminent distress.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: 10-Q · 10-K
Tracking the trend? Catch up on the prior US Earnings Financial Results SEC Filings digest from August 12, 2026.
Investment Signals (12)
- X-Energy, Inc. ↓ (BULLISH)▲
Revenue surged 132% YoY to $98.0M, driven by 165% growth in services revenue. IPO raised $1.1B, eliminating $2.1B in mezzanine equity and creating a $2.1B equity base. Net loss widened to $271.6M, but this is a growth-stage nuclear company with a massive cash runway.
- Elmet Group Co. ↓ (BULLISH)▲
Revenue grew 35% YoY to $66.4M, but the story is the $125.4M IPO net proceeds. Cash jumped from $1.8M to $66.1M. The 343% surge in G&A (including $10.1M stock comp) is a one-time IPO cost. Post-IPO, the company is well-capitalized for M&A or organic expansion.
- Jones Soda Co. ↓ (BULLISH)▲
Revenue more than doubled to $10.2M (+108% YoY), driven by hemp-derived HD9 products. Gross profit improved 75% to $2.8M. The company is successfully pivoting into a high-growth cannabis-adjacent market. Operating loss narrowed to $525K from $760K, showing operating leverage.
- Energous Corp ↓ (MIXED)▲
Revenue surged 217% YoY to $3.1M, but gross margin collapsed from 34.7% to 3.0%, indicating a product mix shift to low-margin hardware. The company raised $31.9M via ATM, but cash burn worsened to $10.9M in H1 2026 (vs $7.5M). This is a high-risk, high-reward turnaround story.
- YETI Holdings, Inc. ↓ (MIXED)▲
Net income grew 39.4% YoY to $71.3M on 8.5% revenue growth to $483.9M. Cash from operations swung from -$19.1M to +$29.8M. However, inventory and AR both rose 23.6%, and the company spent $131M on buybacks, depleting cash by $128.5M. Strong earnings, but working capital management is a concern.
- Adia Nutrition, Inc. ↓ (BULLISH)▲
Revenue surged 248% YoY to $661,660 for H1 2026, driven by medical procedures and biologics. Net loss improved 49% to $122,107. The company is still in a stockholders' deficit of $379,781, but the revenue trajectory is impressive from a low base.
- Quality Industrial Corp. ↓ (MIXED)▲
Net loss improved dramatically from -$1.6M to -$23,474 YoY. Operating income turned positive at $307,950 vs a loss of $506,663. Revenue declined 5.7%, but cost controls are working. The working capital deficit of $10.8M remains a significant risk.
- PROVECTUS BIOPHARMACEUTICALS, INC. ↓ (BULLISH)▲
Net loss improved 46.6% to $988,716 from $1.85M, driven by a 49.5% reduction in operating expenses. Cash increased 360% to $1.16M from financing. The company is effectively managing its cash burn while advancing its pipeline.
- MultiSensor AI Holdings, Inc. ↓ (BULLISH)▲
Revenue grew 19.4% YoY to $1.7M, with software revenue up 84.8% to $739K. Net loss improved 26% to $2.46M. Contract liabilities surged 135% to $2.95M, indicating strong future revenue visibility. The shift to high-margin software is a positive catalyst.
- Classover Holdings, Inc. ↓ (MIXED)▲
Revenue declined 33.6% YoY to $481,831, but operating losses narrowed significantly. The company raised $3.0M in a private placement, boosting cash to $8.9M from $2.8M. Cost-cutting (S&M down 50.5%) is improving the path to profitability.
- PISMO COAST VILLAGE INC ↓ (BULLISH)▲
Net income for nine months up 64.9% YoY to $696,000, driven by 10% growth in RV camping revenue. The company is a stable, cash-generative business with a strong balance sheet (equity $26.7M). A defensive holding in a volatile market.
- HeartBeam, Inc. ↓ (NEUTRAL)▲
(Materiality 6/10) - Filing indicates ongoing R&D investment in cardiac monitoring technology. No specific insider trading or guidance data provided, but the company's focus on a large addressable market (cardiac diagnostics) makes it a potential speculative play.
Risk Flags (10)
- King Resources, Inc. / Cash Burn↓ [HIGH RISK]▼
Revenue dropped to zero from $19,221 YoY, while sales and marketing expenses surged 246% to $868,296. Net loss tripled to $962,587. The company has a stockholders' deficit of $1.29M and is burning cash at an unsustainable rate.
- Global-Smart.Tech Inc. / Liquidity Crisis↓ [HIGH RISK]▼
Cash balance collapsed 99.4% to just $81, down from $12,943. Despite revenue surging 1,053% to $79,156, operating expenses rose 39%, outpacing growth. Accumulated deficit is $374,373. The company is effectively insolvent.
- ALEXANDER TECH CORP / No Revenue↓ [HIGH RISK]▼
The company reported zero revenue for the fiscal year, with a net loss of $50,700. Cash declined 35% to $7,046. Total liabilities increased 12.8% to $414,610, with 84% due to related parties. This is a shell company with no viable business.
- Silo Pharma, Inc. / Revenue Collapse↓ [HIGH RISK]▼
Revenue fell to zero in Q2 2026 from $18,025. Gross profit turned negative for H1 2026. Cash declined 31% to $3.28M. The company recorded a $714,000 non-cash expense for acquired technology, and a $703,552 liability for a contingently returnable sublicense fee.
- Energous Corp / Margin Collapse↓ [HIGH RISK]▼
Gross margin fell from 34.7% to 3.0% in one quarter, as cost of revenue nearly equaled revenue. Cash burn worsened to $10.9M in H1 2026 (up 45% YoY). The company is selling low-margin hardware to generate revenue, which is not a sustainable strategy.
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Despite reporting net income of $12.5M (vs a loss of $2.1M), the REIT experienced net redemptions of $155.7M in H1 2026, up from $131.2M. Accumulated deficit grew to $645.2M. Rising interest expense ($9.9M) is pressuring earnings.
- Fluent, Inc. / Risk Level Medium↓ [MEDIUM RISK]▼
(Materiality 6/10) - Filing indicates ongoing challenges in the digital advertising market. No specific data provided, but the company operates in a highly competitive space with declining margins.
- Workhorse Group Inc. / Risk Level Medium↓ [MEDIUM RISK]▼
(Materiality 6/10) - The electric vehicle maker continues to face production and demand challenges. No specific data provided, but the company's cash position and path to profitability remain key risks.
- ADC Therapeutics SA / Risk Level Medium↓ [MEDIUM RISK]▼
(Materiality 6/10) - The biotech company is burning cash on clinical trials. No specific data provided, but the company's reliance on future financing and regulatory approvals is a key risk.
- T Stamp Inc / Risk Level Medium↓ [MEDIUM RISK]▼
(Materiality 6/10) - The AI identity verification company is pre-revenue or early-stage. No specific data provided, but the company's ability to commercialize its technology is a key risk.
Opportunities (10)
- X-Energy, Inc. / Post-IPO Growth↓ (OPPORTUNITY)◆
With $1.1B in IPO proceeds and a $2.1B equity base, X-Energy is well-positioned to capitalize on the growing demand for nuclear energy. The 165% growth in services revenue indicates strong contract wins. The elimination of $2.1B in mezzanine equity removes a major overhang.
- Elmet Group Co. / Newly Capitalized↓ (OPPORTUNITY)◆
The $125.4M IPO provides a massive cash infusion for a company that had only $1.8M in cash. The 35% revenue growth shows strong underlying demand. Post-IPO, the company can pursue M&A or aggressive expansion. The one-time IPO costs are non-recurring.
- Jones Soda Co. / Hemp-Derived Pivot↓ (OPPORTUNITY)◆
The 108% revenue growth is driven by HD9 products, a high-growth cannabis-adjacent market. Gross profit improved 75%. If the company can manage its operating expenses (which rose 73%), it could reach profitability quickly.
- MultiSensor AI Holdings, Inc. / Software Shift↓ (OPPORTUNITY)◆
Software revenue grew 84.8% to $739K, now 44% of total revenue. Contract liabilities surged 135%, indicating strong future revenue. The shift to high-margin, recurring software revenue is a powerful catalyst for margin expansion.
- Adia Nutrition, Inc. / Revenue Trajectory↓ (OPPORTUNITY)◆
Revenue grew 248% YoY, driven by medical procedures and biologics. Net loss improved 49%. If the company can maintain this growth trajectory and manage its liabilities ($1.12M vs $744K assets), it could become profitable.
- PROVECTUS BIOPHARMACEUTICALS, INC. / Cost Discipline↓ (OPPORTUNITY)◆
The company reduced operating expenses by 49.5%, leading to a 46.6% improvement in net loss. Cash increased 360% to $1.16M. The company is effectively extending its runway while advancing its pipeline.
- Quality Industrial Corp. / Turnaround↓ (OPPORTUNITY)◆
Net loss improved from -$1.6M to -$23,474, and operating income turned positive. The company is demonstrating cost discipline. If it can stabilize revenue (down 5.7%) and address the working capital deficit, it could be a compelling turnaround story.
- YETI Holdings, Inc. / Cash Flow Improvement↓ (OPPORTUNITY)◆
Cash from operations swung from -$19.1M to +$29.8M, a $48.9M improvement. The company is generating strong cash flow from its core business. The $131M in buybacks signals management confidence. The inventory buildup could be seasonal.
- Classover Holdings, Inc. / Path to Profitability↓ (OPPORTUNITY)◆
The company reduced S&M expenses by 50.5% and G&A by 32.9%, narrowing operating losses. The $3.0M private placement and $8.9M cash position provide a runway. If revenue stabilizes, the company could reach profitability.
- PISMO COAST VILLAGE INC / Stable Cash Generator↓ (OPPORTUNITY)◆
The company has a strong balance sheet ($26.7M equity) and is generating consistent profits. The 64.9% increase in nine-month net income shows operational leverage. A safe haven in a volatile market.
Sector Themes (6)
- IPO Boom Transforms Balance Sheets◆
Two companies (X-Energy and Elmet Group) completed IPOs in the quarter, raising a combined $1.2B. This has transformed their balance sheets from deficit to surplus, providing a multi-year runway for growth. This theme is isolated to these two companies but is highly significant for their respective sectors (nuclear energy and industrial services).
- Revenue Growth vs. Margin Compression◆
Several companies (Energous, Classover, King Resources) are showing revenue growth or cost cuts but are experiencing severe margin compression or revenue declines. This suggests that top-line growth is being achieved at the expense of profitability, or that cost cuts are not enough to offset revenue declines. This is a common theme among micro-cap companies.
- Cash Burn Crisis in Micro-Caps◆
A significant number of companies (Global-Smart.Tech, Alexander Tech, King Resources, Silo Pharma) are facing liquidity crises, with cash balances declining to near-zero levels. These companies are reliant on related-party loans, equity offerings, or convertible notes to stay afloat. This is a systemic risk in the micro-cap space.
- Shift to High-Growth Adjacent Markets◆
Jones Soda's pivot to hemp-derived products and MultiSensor AI's shift to software revenue are examples of companies successfully pivoting to higher-growth, higher-margin adjacent markets. This is a key strategy for companies facing stagnation in their core markets.
- Cost Discipline as a Survival Strategy◆
Companies like Provectus Biopharmaceuticals and Quality Industrial Corp. are demonstrating that aggressive cost-cutting can improve net losses and extend cash runway, even in the face of revenue declines. This is a key theme for companies that are not yet profitable.
- Working Capital Management Challenges◆
YETI Holdings and Nuveen Global Cities REIT both show strong earnings but are facing working capital challenges (inventory buildup, investor redemptions). This highlights the importance of cash flow analysis over earnings in the current environment.
Watch List (8)
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Watch for updates on contract wins and the deployment of the $1.1B IPO proceeds. The company's next earnings call will be critical for assessing the growth trajectory. [Date: TBD]
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Watch for M&A announcements or organic expansion plans. The company's next filing will reveal how it is deploying the $125.4M in IPO proceeds. [Date: Next 10-Q due Nov 2026]
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With only $81 in cash, the company is likely to require a reverse stock split or a dilutive financing to stay listed. Watch for SEC filings regarding a going concern qualification. [Date: Immediate]
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The company's cash position improved slightly to $22,969, but the burn rate is unsustainable. Watch for a dilutive offering or a going concern warning. [Date: Next 10-Q due Nov 2026]
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Inventory increased 23.6% to $359.1M. Watch for future filings to see if this is seasonal or a sign of slowing demand. The next earnings call will be key. [Date: Q3 FY26 earnings, expected Oct/Nov 2026]
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Net redemptions of $155.7M in H1 2026 are a concern. Watch for any changes in redemption policies or asset sales to meet redemptions. [Date: Ongoing]
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The gross margin collapse to 3% is a red flag. Watch for any product mix shift or cost improvements that could restore margins. [Date: Next 10-Q due Nov 2026]
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The hemp-derived product line is driving growth. Watch for any regulatory changes or competitive responses that could impact this segment. [Date: Ongoing]
Filing Analyses
(50)
13-08-2026
13-08-2026
13-08-2026
13-08-2026
13-08-2026
13-08-2026
13-08-2026
Classover Holdings, Inc. reported a net loss of $2.5M for Q2 2026 and $6.7M for H1 2026, widening from $3.9M and $4.2M in the prior-year periods. Total revenues declined 33.6% YoY in Q2 to $481,831 and 35.1% YoY in H1 to $1.0M, driven by a drop in service revenues. However, operating losses narrowed significantly, and the company raised $3.0M in a private placement and ended the period with $8.9M in cash, up from $2.8M at year-end 2025.
- · Selling and marketing expenses decreased 50.5% YoY in Q2 2026 to $54,526, and 57.0% in H1 2026 to $99,547.
- · General and administrative expenses decreased 32.9% YoY in Q2 2026 to $1,267,947, but only 4.0% in H1 2026 to $2,364,103.
- · Research and development expenses increased 67.0% YoY in Q2 2026 to $37,555, and 80.9% in H1 2026 to $52,091.
- · The company sold $4.0M in crypto assets during H1 2026, reducing its crypto investment accounts from $7.3M to just $21,773.
- · A $3.0M capital contribution from a private placement and $9.5M in convertible debt conversions to equity strengthened the balance sheet.
- · The company repurchased $3,518 in treasury stock during Q2 2026.
- · Intangible assets were acquired for $1.25M cash, 1,600 Class B shares, and warrants to purchase 1,479 Class B shares.
- · Weighted average Class B shares outstanding surged from 27,625 in H1 2025 to 486,497 in H1 2026, reflecting significant equity issuance.
13-08-2026
King Resources, Inc. reported a net loss of $962,587 for the quarter ended June 30, 2026, a significant increase from a net loss of $307,611 in the same quarter last year. Revenue dropped to zero from $19,221 in the prior-year quarter, and operating expenses more than tripled to $973,650, driven by a surge in sales and marketing expenses. The company's cash position improved to $22,969 from $8,789 at the end of March 2026, but total liabilities exceeded total assets, resulting in a stockholders' deficit of $1,292,906.
- · Sales and marketing expenses increased to $868,296 from $251,074 YoY.
- · General and administrative expenses increased to $105,354 from $64,225 YoY.
- · Stock-based compensation expense of $854,700 was recognized in Q1 FY2027.
- · The company recorded a gain of $45,385 from forgiveness of related party debts and a loss of $34,322 on closure of a subsidiary.
- · Total current liabilities increased to $1,542,588 from $1,465,519 at March 31, 2026.
- · Accumulated deficit widened to $10,590,144 from $9,627,557.
- · Net cash used in operating activities was $43,562, slightly higher than $42,933 in the prior year.
- · Cash provided by financing activities was $57,445 from advances from related parties.
- · The company has significant risks related to its Hong Kong operations and PRC regulations.
13-08-2026
Nuveen Global Cities REIT, Inc. reported net income of $12.5M for Q2 2026, reversing a $2.1M net loss in Q2 2025, driven by strong realized and unrealized gains from real estate-related securities and improved rental revenue. However, the REIT struggled with rising interest expense ($9.9M vs $11.4M YoY for Q2), a growing accumulated deficit ($645.2M vs $597.8M at Dec 2025), and a net redemption of common stock totaling $155.7M in H1 2026 (vs $131.2M in H1 2025), indicating persistent investor outflows despite operational improvements.
- · Total assets increased 3.1% from $2.73B at Dec 31, 2025 to $2.81B at June 30, 2026.
- · Total liabilities increased 8.0% from $991.7M at Dec 31, 2025 to $1.07B at June 30, 2026.
- · Common stock repurchases exceeded issuances in H1 2026 ($143.4M repurchased vs $125.4M issued), net cash outflow ~$18.0M.
- · Contributions from non-controlling interests surged to $26.8M in H1 2026 from $0.6M in H1 2025, a 45x increase.
- · Interest expense declined 12.5% YoY for Q2, but borrowing under credit facility increased to $91.0M in H1 2026 from $40.0M in H1 2025.
- · Realized/unrealized gain from real estate-related securities was $11.4M in Q2 2026 vs a loss of $1.5M in Q2 2025.
13-08-2026
Global-Smart.Tech Inc. (GSMT) filed its 10-K annual report for the fiscal year ended May 31, 2026, reporting a net loss of $103,768, an improvement from the $124,374 net loss in the prior year. Revenue surged over 11x to $79,156 from $6,868, driven by a significant increase in share issuances for cash ($7,203 vs $26,841 in FY25). However, the company's cash position collapsed to just $81 from $12,943, and its accumulated deficit deepened to $374,373, while total operating expenses rose 39% to $182,924, outpacing revenue growth.
- · Revenue increased to $79,156 from $6,868, a 1,053% jump, but this was from a very low base.
- · Operating expenses rose 39.4% to $182,924, driven by a 137% increase in General and Administrative Expenses to $65,285.
- · The company's cash balance fell 99.4% to just $81, down from $12,943.
- · The company is dependent on related-party loans ($434,425) and equity issuances to fund operations; it has a working capital deficit of $450,794.
- · No revenue was generated from core operations; the company has no deferred tax assets due to a full valuation allowance.
- · Loss per share remained flat at ($0.02) despite a 22% increase in weighted average shares outstanding.
13-08-2026
Provectus Biopharmaceuticals reported a net loss of $988,716 for Q2 2026, a significant improvement from the $1,852,081 loss in Q2 2025, driven by a 49.5% reduction in operating expenses. However, the company recorded zero grant revenue in Q2 2026 versus $57,480 in the prior year, and its accumulated deficit deepened to $265,126,832. Cash increased sharply to $1,156,915 from $251,291 at year-end 2025, primarily due to $1,621,050 in financing proceeds, but the company remains in a stockholders' deficit of $6,287,564.
- · Convertible notes payable (including related parties) increased to $3,310,000 at June 30, 2026 from $2,610,000 at December 31, 2025.
- · Total liabilities rose to $7,761,065 at June 30, 2026 from $7,000,220 at December 31, 2025.
- · Net cash used in operating activities improved to $715,814 in H1 2026 from $1,616,571 in H1 2025.
- · The company had no restricted cash at June 30, 2026, compared to $30,542 at June 30, 2025.
- · Non-cash conversion of 2025 Notes and related accrued interest to Series D-1 Preferred Stock totaled $1,074,935 in H1 2026.
- · Conversion of accrued directors' fees to Series D-1 Preferred Stock amounted to $542,501 in H1 2026.
13-08-2026
Adia Nutrition, Inc. reported a significant improvement in revenue for the three and six months ended June 30, 2026, driven by strong growth in medical procedures and biologics sales. Total revenue for the six-month period surged to $661,660 from $189,910 in the prior year, a 248% increase. However, the company remains unprofitable, with a net loss of $122,107 for the six months (improved from a $240,216 loss in 2025), and its total liabilities of $1,123,835 far exceed total assets of $744,054, resulting in a stockholders' deficit of $379,781.
- · Sales of supplements revenue was $0 for both the three and six months ended June 30, 2026, compared to $1,091 and $2,155 in the prior year periods.
- · Services revenue was $0 for both the three and six months ended June 30, 2026, compared to $2,267 in the prior year periods.
- · Research and development expenses were $0 for both the three and six months ended June 30, 2026, compared to $24,616 in the prior year periods.
- · Salaries and wages expenses were $55,129 and $87,731 for the three and six months ended June 30, 2026, compared to $0 in the prior year periods.
- · Clinical trial fees were $7,175 and $12,025 for the three and six months ended June 30, 2026, compared to $0 in the prior year periods.
- · Corporate filing fees were $7,723 and $11,728 for the three and six months ended June 30, 2026, compared to $0 in the prior year periods.
- · Public relations expenses were $2,480 and $4,920 for the three and six months ended June 30, 2026, compared to $0 in the prior year periods.
- · Repairs and maintenance expenses were $1,152 and $2,162 for the three and six months ended June 30, 2026, compared to $0 in the prior year periods.
- · Utilities expenses were $1,672 and $2,538 for the three and six months ended June 30, 2026, compared to $0 in the prior year periods.
- · Net cash used for operating activities was $164,078 for the six months ended June 30, 2026, compared to $167,541 in the prior year.
- · Net cash provided by financing activities was $223,596 for the six months ended June 30, 2026, compared to $293,120 in the prior year.
- · Proceeds from sale of common stock were $0 for the six months ended June 30, 2026, compared to $70,000 in the prior year.
- · Inventory increased by $115,475 during the six months ended June 30, 2026, compared to a decrease of $40,116 in the prior year.
- · Deferred revenue increased by $50,000 during the six months ended June 30, 2026, compared to $0 in the prior year.
- · Accrued interest – related party increased to $60,681 as of June 30, 2026 from $37,915 as of December 31, 2025.
- · The company had a stockholders' deficit of $379,781 as of June 30, 2026, worsening from a deficit of $257,674 as of December 31, 2025.
- · Weighted average shares outstanding (basic) were 94,404,696 for the six months ended June 30, 2026, compared to 92,770,810 in the prior year.
13-08-2026
Pismo Coast Village, Inc. reported net income of $585,000 for Q3 FY2026 (up 0.5% YoY from $582,000) and $696,000 for the nine months ended June 30, 2026 (up 64.9% from $422,000 in the prior year period). Revenue grew 6.1% YoY in Q3 to $3.09M and 10.0% YoY for the nine months to $7.63M, driven primarily by strong RV camping site rentals (+10.0% YoY for nine months). However, operating income for Q3 declined 8.4% YoY to $742,000, and retail sales and property lease income both decreased, reflecting mixed performance across segments.
- · Total assets increased 5.0% to $32.06M as of June 30, 2026 from $30.53M as of September 30, 2025.
- · Stockholders' equity rose to $26.69M from $25.99M, a 2.7% increase.
- · Cash reserved for capital improvements and deferred maintenance increased to $13.45M from $11.94M.
- · Customer deposits grew 39.1% to $3.61M from $2.60M.
- · Total liabilities increased 18.4% to $5.37M from $4.53M.
- · Nine-month net cash provided by operating activities was essentially flat at $1.88M (up from $1.89M in prior period).
- · Nine-month capital expenditures rose 53.6% to $278,000 from $181,000.
- · Property, plant and equipment (net) was nearly unchanged at $16.58M.
- · Income tax provision for Q3 decreased 22.4% YoY to $257,000 from $331,000.
13-08-2026
MultiSensor AI Holdings, Inc. (MSAIW) filed its 10-Q for the quarter ended June 30, 2026, reporting net revenue of $1,695K for Q2 2026, up 19.4% from $1,419K in Q2 2025, driven by strong software revenue growth of 84.8% to $739K. However, services revenue declined 82.1% to $26K, and the company continued to post a net loss of $2,460K, though this was an improvement from a $3,322K loss in the prior-year quarter. Cash and cash equivalents decreased to $21,005K from $24,365K at year-end 2025.
- · Contract liabilities (current) increased to $2,950K from $1,255K at year-end 2025, a 135% increase.
- · Trade accounts receivable, net, increased to $3,624K from $1,670K at year-end 2025, a 117% increase.
- · Inventories (current) decreased to $3,332K from $4,020K at year-end 2025.
- · Accumulated deficit grew to $(71,270K) from $(66,339K) at year-end 2025.
- · Net cash used in operating activities for H1 2026 was $4,080K, slightly worse than $3,980K in H1 2025.
- · Capital expenditures decreased to $372K in H1 2026 from $929K in H1 2025.
- · Proceeds from stock issuances were $1,046K in H1 2026, down from $4,739K in H1 2025.
- · Weighted-average basic shares outstanding increased to 2,069,434 in Q2 2026 from 838,785 in Q2 2025.
- · Internal-use software, net, increased to $7,169K from $6,800K at year-end 2025.
13-08-2026
Silo Pharma reported a net loss of $832,829 for Q2 2026 (improved from a $1,204,293 loss in Q2 2025) and a net loss of $2,479,946 for H1 2026 (wider than the $2,235,730 loss in H1 2025). Revenue fell to zero in Q2 2026 from $18,025 in Q2 2025, and gross profit turned negative for H1 2026 at ($2,662) versus $33,132 in H1 2025. Cash and cash equivalents declined to $3,277,095 from $4,748,700 at year-end 2025, while total assets fell to $5,952,023 from $7,605,100.
- · The company recorded a $714,000 non-cash expense for common stock issued for acquired technology in H1 2026.
- · A contingently returnable sublicense fee of $703,552 was recognized as a current liability as of June 30, 2026, with a corresponding reclassification from deferred revenue.
- · Crypto assets at fair value decreased to $205,414 from $221,817 at year-end 2025, with an unrealized loss of $89,143 recognized in H1 2026.
- · Research and development expenses remained nearly flat at $1,311,683 in H1 2026 versus $1,311,209 in H1 2025.
- · The company executed a 1-for-15 reverse stock split during Q2 2026, resulting in 44,169 rounding shares issued.
- · Net cash used in operating activities improved to $1,604,484 in H1 2026 from $2,925,568 in H1 2025, a 45.2% reduction.
- · Short-term investments at fair value were $1,950,147 as of June 30, 2026, compared to $2,110,065 at December 31, 2025.
13-08-2026
Elmet Group Co. reported a net loss of $4.488M for Q2 FY26 and $4.826M for H1 FY26, compared to net income of $1.240M and $2.437M in the prior-year periods, respectively. Revenue grew 35.1% YoY in Q2 to $66.401M and 28.2% YoY in H1 to $122.408M, driven by strong top-line expansion. However, operating expenses surged, particularly general and administrative costs which rose 342.7% in Q2, leading to an operating loss of $7.628M versus a $3.246M operating income a year ago. The company completed an IPO during the quarter, raising $125.363M in net proceeds, which significantly strengthened its cash position to $66.122M from $1.759M at year-end 2025.
- · The company completed an initial public offering (IPO) during Q2 FY26, issuing 9,857,142 shares of Common Stock and raising $125.363M in net proceeds.
- · All Class A Common Stock (20,122,721 shares) and Class B Common Stock (466 shares) were converted to Common Stock in connection with the IPO.
- · General and administrative expenses surged to $17.780M in Q2 FY26 from $4.016M in Q2 FY25, a 342.7% increase, largely due to stock-based compensation of $10.090M in the quarter.
- · Research and development expenses increased 328.2% YoY to $4.321M in Q2 FY26.
- · Inventories grew 47.0% to $102.401M from $69.697M at year-end 2025, driven by a 160.8% increase in raw materials to $28.257M.
- · The company reported a net loss per share (basic and diluted) of ($0.16) for Q2 FY26 versus earnings per share of $0.06 in Q2 FY25.
- · Cash used in operating activities from continuing operations was $7.572M in H1 FY26, compared to cash provided of $9.024M in H1 FY25.
- · The company had no discontinued operations in FY26, compared to a loss from discontinued operations of $1.546M in H1 FY25.
- · Total liabilities decreased to $96.685M from $115.189M at year-end 2025, primarily due to repayment of long-term debt and related party debt.
- · The company's effective tax rate was negative in Q2 FY26 due to a $3.750M income tax benefit, compared to $0 provision in Q2 FY25.
13-08-2026
Energous Corp reported a net loss of $2.9M for Q2 2026, slightly wider than the $2.8M loss in Q2 2025, while revenue surged 217% YoY to $3.1M. However, gross profit margin collapsed from 34.7% to just 3.0% as cost of revenue grew much faster than sales, and operating expenses rose 5.4% YoY. The company strengthened its balance sheet by raising $31.9M net from an ATM offering, boosting cash to $31.2M, but its accumulated deficit deepened to $414.6M.
- · Gross profit margin fell from 34.7% in Q2 2025 to 3.0% in Q2 2026, as cost of revenue ($3.0M) nearly equaled revenue ($3.1M).
- · Operating expenses for Q2 2026 increased 5.4% YoY to $3.3M, driven by higher G&A ($1.5M vs $1.3M) and R&D ($1.1M vs $1.1M).
- · Cash used in operating activities worsened to $10.9M in H1 2026 from $7.5M in H1 2025.
- · Prepaid expenses and other current assets surged from $422K at Dec 2025 to $6.9M at Jun 2026, primarily due to a $6.3M deposit with contract manufacturers.
- · The company issued 3.3M shares via ATM in H1 2026, raising $31.9M net, compared to 850K shares for $15.8M net in H1 2025.
- · Weighted average shares outstanding increased from 1.2M in Q2 2025 to 5.5M in Q2 2026, diluting EPS from ($2.35) to ($0.53).
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YETI Holdings reported strong Q2 FY26 results with net sales of $483.9M, up 8.5% YoY from $445.9M, and net income of $71.3M, a 39.4% increase from $51.2M. However, cash decreased sharply by $128.5M to $59.8M, driven by $131.0M in stock repurchases and heavy investment in working capital, while total stockholders' equity fell 6.3% to $609.5M from $650.3M at year-start.
- · Cash from operations was $29.8M in H1 FY26 vs. -$19.1M in H1 FY25, a significant improvement.
- · Inventory increased 23.6% to $359.1M from $290.6M at year-start, indicating potential buildup.
- · Accounts receivable rose 23.6% to $174.8M from $141.4M.
- · Total debt (current + long-term) increased to $100.8M from $73.5M at year-start, driven by $30M net borrowings under revolving credit facility.
- · SG&A expenses grew 17.1% YoY in Q2 to $229.0M, outpacing sales growth.
- · Product recalls and impairment of long-lived assets totaled $4.2M in H1 FY26 (none in prior period).
- · Weighted-average basic shares outstanding declined 9.7% YoY to 74.7M in Q2, reflecting buyback impact.
13-08-2026
X-Energy, Inc. filed its Form 10-Q for the quarterly period ended June 30, 2026, reporting a significant increase in total revenues and grant income to $98.0M for the six months ended June 30, 2026, up from $42.3M in the prior-year period, driven by a 165% increase in services revenue. However, operating expenses more than doubled to $274.2M, leading to a net loss of $271.6M compared to $99.1M in the prior period. The company completed its initial public offering (IPO) during the quarter, raising $1.1B in net proceeds and converting all mezzanine equity into common stock, resulting in a substantial improvement in its balance sheet with total stockholders' equity of $2.1B as of June 30, 2026, compared to a deficit of $1.2B at year-end 2025.
- · The company completed its IPO during the quarter, issuing 50,892,857 shares of Class A common stock and raising $1.1B in net proceeds.
- · All mezzanine equity (Class A and B common units and preferred units) was converted to common stock as part of the Reorganization Transactions, eliminating $2.1B in mezzanine equity.
- · Warrant liabilities were reduced to $0 from $274.2M at year-end 2025, with a mark-to-market loss of $114.5M recognized in the six-month period.
- · Accounts receivable from the DOE increased to $40.3M from $23.6M at year-end 2025.
- · Unbilled receivables and contract assets from the DOE increased to $70.0M from $39.6M at year-end 2025.
- · Research and development expenses decreased to $299K for the six months ended June 30, 2026, from $1.2M in the prior-year period.
- · Net loss per share (Class A common stock, basic and diluted) was $(0.21) for both the three and six months ended June 30, 2026.
- · Non-controlling interests totaled $280.9M as of June 30, 2026, reflecting the portion of losses and equity attributable to other equity holders.
13-08-2026
Gyrodyne, LLC filed its 10-Q for the period ended June 30, 2026, reporting net assets in liquidation of $27.06 million, up from $25.86 million at December 31, 2025. Cash and cash equivalents decreased to $3.77 million from $4.53 million, while total assets fell to $57.92 million from $58.69 million. The company continues to hold $53.99 million in real estate held for sale and expects gross real estate proceeds of $53.99 million, though incremental value from a pending sewer treatment plant amenity is not included as it is not estimable.
- · All 91,628 Stock Plan shares were issued effective November 14, 2023; no remaining shares issuable.
- · The B2K agreement (dated July 30, 2025, amended January 6, 2026) provides a closing credit of $4.02M for infrastructure costs.
- · Incremental value from the pending STP amenity is not included in gross real estate proceeds as it is not estimable.
- · Estimated final liquidation and dissolution costs are $1.48M.
- · Interest income is expected to be offset by interest expense and working capital settlement, resulting in a net balance of ($5.85M).
13-08-2026
Jones Soda Co. reported Q2 2026 revenue of $10.2M, more than doubling from $4.9M in Q2 2025, driven by strong growth in its hemp-derived HD9 products. However, the company posted a net loss of $650K for the quarter, compared to net income of $2.6M in the prior-year period which included a $3.7M gain on disposition of subsidiaries. Operating loss narrowed to $525K from $760K, but cash used in operations increased to $2.9M in H1 2026 from $2.6M in H1 2025, and total assets declined to $13.7M from $15.2M at year-end 2025.
- · Gross profit improved to $2.8M in Q2 2026 from $1.6M in Q2 2025, and to $6.7M in H1 2026 from $3.0M in H1 2025.
- · Selling and marketing expenses rose to $1.9M in Q2 2026 from $1.1M in Q2 2025, and to $3.9M in H1 2026 from $2.2M in H1 2025.
- · General and administrative expenses increased slightly to $1.4M in Q2 2026 from $1.3M in Q2 2025, and to $2.9M in H1 2026 from $2.5M in H1 2025.
- · Inventories increased to $4.7M as of June 30, 2026 from $2.7M at December 31, 2025.
- · Accounts receivable decreased to $3.3M from $3.6M, while accounts payable decreased to $5.3M from $6.4M.
- · Revolving credit facility and loans increased to $3.7M from $3.0M.
- · Net cash used in continuing operations was $2.9M in H1 2026 vs $2.6M in H1 2025.
- · The company sold a note receivable for $1.4M in H1 2026, providing investing cash inflow.
- · Weighted average diluted shares outstanding increased to 118.8M in Q2 2026 from 116.2M in Q2 2025.
- · The company faces risks related to potential federal legislation banning unregulated sale of intoxicating hemp-derived products, which could impact HD9 revenue.
13-08-2026
Quality Industrial Corp. reported a net loss attributable to stockholders of $23,474 for the six months ended June 30, 2026, a significant improvement from a loss of $1,602,091 in the prior year period. Revenue declined 5.7% to $7,199,666, but operating income turned positive at $307,950 versus a loss of $506,663. Cash and cash equivalents decreased sharply from $426,585 to $150,012, and the company continues to have a working capital deficit.
- · Total current liabilities exceed total current assets by $10,759,635 as of June 30, 2026, indicating a working capital deficit.
- · Operating income for the three months ended June 30, 2026 was $132,130, down from $440,459 in the same period last year.
- · Net cash used in operating activities for the six months ended June 30, 2026 was $341,094, compared to $514,600 used in the prior year period.
- · The company issued 5,655,811 shares from conversion of convertible notes during the six months ended June 30, 2026.
- · All 8,500 Series B preferred shares were converted to common stock during the six months ended June 30, 2026.
- · Weighted average basic shares outstanding increased from 144,560,007 to 190,418,220 for the six months ended June 30, 2025 and 2026, respectively.
13-08-2026
Alexander Tech Corp filed its 10-K annual report for the fiscal year ended April 30, 2026, reporting no revenue and a net loss of $50,700, a slight improvement from a net loss of $51,261 in the prior year. The company's cash position declined 35% to $7,046 from $10,856, while total liabilities increased to $414,610 from $367,491, driven by higher due to related party and accounts payable. The company continues to operate with a significant accumulated deficit of $861,551 and a stockholders' deficit of $407,335, reflecting ongoing financial challenges.
- · The company has no revenue and relies on related-party loans to fund operations.
- · Accounts payable and accrued liabilities surged from $615 to $24,235, a 3,841% increase.
- · Due to related party increased 7.2% to $348,374, representing 84% of total liabilities.
- · Net cash used in operating activities improved 45.4% to $27,309 from $50,013, primarily due to a $23,620 increase in accounts payable.
- · The company's business strategy is to acquire undervalued or sub-optimally managed businesses, but no acquisitions have been completed to date.
- · Weighted average shares outstanding remained constant at 268,725 for both periods.
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