Quarterly ResultMay 12, 2026, 01:12 PM
Oculus Inc. Q1 Net Loss Narrows to $62K; Going Concern Warning
AI Summary
Oculus Inc. reported a net loss of $62,077 for the first quarter of 2026, an improvement from $102,910 in the same period last year. Despite the reduced loss, the company faces significant financial challenges, including an accumulated deficit of over $49 million and a working capital deficiency of $793,349, leading to a going concern warning. The company also noted it currently has no paying customers and relies on future financing to sustain operations.
Key Highlights
- Net loss for Q1 2026 narrowed to $62,077 from $102,910 in Q1 2025.
- Accumulated deficit reached $49,095,222 as of March 31, 2026.
- Working capital deficiency stood at $793,349 as of March 31, 2026.
- Cash balance increased to $16,658 as of March 31, 2026, from $9,409 at year-end 2025.
- Selling, general and administrative expenses decreased to $46,813 from $87,637.
- Net cash provided by operating activities was $734 in Q1 2026, compared to $3,286 used in Q1 2025.
- The company currently has no paying customers.
- No stock options or warrants were outstanding as of March 31, 2026.