Quarterly ResultJun 30, 2026, 04:58 PM
ProPhase Labs Reports Q1 Net Loss $(5.35)M; Going Concern Doubt
AI Summary
ProPhase Labs reported a net loss of $(5.35) million for Q1 2026, a significant decline from net income of $3.97 million in Q1 2025, primarily due to lower revenues and the absence of income from discontinued operations. The company's cash resources are minimal, and it has a significant working capital deficit, raising substantial doubt about its ability to continue as a going concern. Management is pursuing various strategies to improve liquidity and support operations, including reducing expenditures and evaluating asset monetization.
Key Highlights
- Net loss for Q1 2026 was $(5.35) million, compared to net income of $3.97 million in Q1 2025.
- Revenue decreased to $478,000 in Q1 2026 from $1.43 million in Q1 2025.
- Gross profit fell to $167,000 in Q1 2026 from $526,000 in Q1 2025.
- Loss from continuing operations per share was $(0.43) in Q1 2026, compared to $(1.33) in Q1 2025.
- Cash and cash equivalents stood at $31,000 as of March 31, 2026, down from $90,000 at Dec 31, 2025.
- Total stockholders' equity was a deficit of $(614,000) as of March 31, 2026, down from $3.51 million at Dec 31, 2025.
- Company issued a 10% convertible promissory note for $240,000 in January 2026, receiving $190,000 cash.
Price Impact
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