Quarterly ResultMay 15, 2026, 04:09 PM
LQR House Q1 Net Loss $(0.91M); Proposes $126.88M Acquisition
AI Summary
LQR House Inc. reported a net loss of $(914,969) for the three months ended March 31, 2026, a significant improvement from the $(2,389,650) net loss in the prior year, despite a decrease in total revenues to $222,683. The company also announced a proposed acquisition of Fusion Five Continents Securities Limited for $126,880,000, aiming to expand into the financial services sector. Subsequent to the quarter, LQR House received $21,773,000 from the termination of joint venture agreements, substantially strengthening its liquidity.
Key Highlights
- Net loss for Q1 2026 was $(914,969), an improvement from $(2,389,650) in Q1 2025.
- Total revenues decreased to $222,683 in Q1 2026 from $429,340 in Q1 2025.
- Gross profit turned into a loss of $(22,236) in Q1 2026 from a profit of $30,158 in Q1 2025.
- Subsequent to quarter-end, LQR House received $21,773,000 from joint venture terminations.
- LQR House proposes to acquire Fusion Five Continents Securities Limited for $126,880,000.
- Authorized common stock increased from 350,000,000 to 1,500,000,000 shares.
- Entered into an ATM offering agreement for up to $50,273,610 in common stock.
- Cash and cash equivalents were $4,444,975 as of March 31, 2026.
Price Impact
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