Quarterly ResultMay 14, 2026, 04:08 PM
GAXOS.AI Q1 Revenue Jumps to $1.81M; Net Loss Widens to $2.47M
AI Summary
GAXOS.AI Inc. reported a significant increase in revenue for the three months ended March 31, 2026, reaching $1.81 million, up from $23,732 in the prior year. However, the company's net loss more than doubled to $2.47 million, compared to $1.23 million in the same period last year, primarily due to a substantial rise in operating expenses. The company also saw an increase in cash and total assets, partly driven by $5.32 million in proceeds from the sale of common stock units and a new $2.9 million investment in a cost method investee.
Key Highlights
- Revenue increased to $1,809,367 in Q1 2026 from $23,732 in Q1 2025, a 7517% increase.
- Net loss widened to $2,474,246 in Q1 2026 from $1,232,062 in Q1 2025, a 100.8% increase.
- Basic and diluted net loss per share was $(0.25) in Q1 2026, compared to $(0.17) in Q1 2025.
- Total operating expenses surged to $4,356,489 in Q1 2026 from $1,415,427 in Q1 2025.
- Cash balance increased to $1,513,550 as of March 31, 2026, from $840,799 at December 31, 2025.
- Net cash provided by financing activities was $5,315,909 in Q1 2026, primarily from common stock sales.
- Investment in cost method investee increased by $2,900,000 during the quarter.
- Total assets grew to $15,820,709 as of March 31, 2026, from $13,421,545 at December 31, 2025.