Quarterly ResultMay 15, 2026, 04:13 PM
Nomadar Q1 Net Loss Widens to $1.59M; Going Concern Doubt Raised
AI Summary
Nomadar Corp. reported a significant increase in net loss to $1.59 million for the three months ended March 31, 2026, compared to $291,319 in the prior year, despite revenue growing to $403,800. The company also disclosed substantial doubt about its ability to continue as a going concern, citing a working capital deficit of $4.73 million and an accumulated deficit of $5.77 million. Nomadar is pursuing debt and equity financings, including capital contributions from Sportech and subscription agreements with third-party investors, to address its financial uncertainties.
Key Highlights
- Net loss widened to $1.59 million for Q1 2026, up from $291,319 in Q1 2025.
- Revenue increased to $403,800 in Q1 2026 from $186,937 in Q1 2025.
- Gross profit rose significantly to $355,944 in Q1 2026 from $10,549 in Q1 2025.
- Company reported a working capital deficit of $4.73 million and accumulated deficit of $5.77 million.
- Received $1.94 million in capital contributions from Sportech in Q1 2026.
- Secured $3.77 million from two tranches of a $5.4 million Class A common stock subscription agreement.
- Commenced educational services, generating $253,725 in Q1 2026 revenue.
- Cash balance increased to $1.96 million as of March 31, 2026, from $78,163.
Price Impact
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