Quarterly ResultMay 14, 2026, 03:56 PM
EXOZYMES Q1 Net Loss Widens to $2.37M; Cash Halves to $1.44M
AI Summary
EXOZYMES INC. reported a net loss of $2.37 million for the three months ended March 31, 2026, a significant increase from $1.86 million in the prior year. The company's cash and cash equivalents decreased by over 50% to $1.44 million, and it continued to use substantial cash in operations, leading to a going concern warning. Research and development costs nearly doubled, while general and administrative costs saw a slight decrease. The company's total assets and equity also saw significant declines.
Key Highlights
- Net loss for Q1 2026 widened to $2.37 million, up 27.7% from $1.86 million in Q1 2025.
- Cash and cash equivalents decreased by 52.5% to $1.44 million as of March 31, 2026, from $3.04 million at year-end 2025.
- Net cash used in operating activities increased by 34.5% to $1.52 million in Q1 2026.
- The company issued a going concern warning due to continued net losses and anticipated funding shortfalls.
- Research and development costs increased by 95.0% to $1.12 million in Q1 2026.
- Total operating costs rose by 22.4% to $2.39 million in Q1 2026.
- Total assets decreased by 32.7% to $4.02 million as of March 31, 2026.
- Stock-based compensation increased to $501,098 in Q1 2026 from $317,277 in Q1 2025.