Quarterly ResultMay 15, 2026, 12:22 PM
Brownie's Marine Group Q1 Net Income $493K; Revenue +38.3%
AI Summary
Brownie's Marine Group reported a significant turnaround in its first quarter of 2026, achieving a net income of $493,030 compared to a net loss of $54,468 in the prior year. Total revenues increased by 38.3% to $2.12 million, driven by strong non-related party sales. Despite these improvements, the company's historical losses and accumulated deficit of $17.54 million continue to raise substantial doubt about its ability to continue as a going concern.
Key Highlights
- Net Income: $493,030 in Q1 2026 vs. $(54,468) net loss in Q1 2025.
- Total Revenues: $2.12 million in Q1 2026, up 38.3% from $1.53 million.
- Gross Profit: $982,129 in Q1 2026, a 94.8% increase from $504,030.
- Cash from Operations: $686,637 in Q1 2026, compared to $(115,729) in Q1 2025.
- Cash Balance: $849,620 at March 31, 2026, up from $307,886 at Dec 31, 2025.
- Working Capital: Surplus of $1.14 million at March 31, 2026.
- Accumulated Deficit: Reduced to $17.54 million from $18.03 million.
- Going Concern: Substantial doubt remains due to historical losses.
Price Impact
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