Quarterly ResultMay 14, 2026, 03:03 PM
CalEthos Q1 Net Loss Widens to $810K; Cash Drops to $63K
AI Summary
CalEthos, Inc. reported a significant increase in net loss to $810,000 for the first quarter of 2026, compared to $241,000 in the prior year. The company's cash and cash equivalents decreased substantially to $63,000, and it faces a going concern warning. Strategically, CalEthos shifted its data center development focus, secured a natural gas supply agreement for a new Idaho campus, and reached a preliminary joint venture agreement for its initial master-planned data center campus.
Key Highlights
- Net loss for Q1 2026 increased to $810,000 from $241,000 in Q1 2025.
- Cash and cash equivalents decreased to $63,000 as of March 31, 2026, from $287,000.
- Total liabilities rose to $3,354,000 as of March 31, 2026, from $3,095,000.
- Accumulated deficit reached $39,178,000 as of March 31, 2026.
- Entered a natural gas supply agreement in April 2026, with a $3.83 million reservation fee paid.
- Required to deliver a $6.0 million letter of credit by June 15, 2026, for the gas supply agreement.
- Reached a preliminary joint venture agreement for a master-planned data center campus.
- Company faces substantial doubt about its ability to continue as a going concern.