Quarterly ResultMay 19, 2026, 05:32 PM
Northann Q1 Net Loss $(2.90)M; Going Concern Doubt Raised
AI Summary
Northann Corp. reported a net loss of $(2.90) million for Q1 2026, widening from $(2.63) million in Q1 2025, despite a 44.3% increase in revenue to $4.96 million. The company's financial statements include a going concern warning due to potential liquidity issues. Total assets grew significantly by 50.6% to $30.79 million, largely driven by an $11 million issuance of common stock for capitalized software, which also boosted stockholders' equity by 104.8% to $18.45 million.
Key Highlights
- Net loss widened to $(2,895,325) in Q1 2026 from $(2,630,729) in Q1 2025.
- Revenue increased 44.3% to $4,961,778 in Q1 2026 from $3,437,727 in Q1 2025.
- Gross profit turned negative to $(494,653) in Q1 2026 from $390,658 in Q1 2025.
- Basic and diluted EPS was $(0.064) in Q1 2026, compared to $(0.028) in Q1 2025.
- Total assets increased 50.6% to $30,790,621 as of March 31, 2026.
- Total stockholders' equity rose 104.8% to $18,449,922 as of March 31, 2026.
- Cash and cash equivalents decreased 76.8% to $239,641 as of March 31, 2026.
- Issued $11,000,000 in common stock for capitalized software in Q1 2026.
Price Impact