Quarterly ResultMay 14, 2026, 08:37 AM
QHSLab Q1 Net Loss Widens to $103,906; Going Concern Doubt Raised
AI Summary
QHSLab, Inc. reported a widened net loss of $103,906 for the first quarter of 2026, compared to a net loss of $79,609 in the prior year period, despite a 12.9% increase in revenue to $728,685. The company's accumulated deficit of $4,007,457 and increased cash usage in operations led management to raise substantial doubt about its ability to continue as a going concern. Total assets and stockholders' equity also decreased during the quarter.
Key Highlights
- Going concern doubt raised due to accumulated deficit and increased net loss.
- Net loss widened to $103,906 in Q1 2026 from $79,609 in Q1 2025.
- Revenue increased 12.9% to $728,685 in Q1 2026 from $645,419 in Q1 2025.
- Cash and cash equivalents decreased to $362,088 from $636,157.
- Cash used in operations increased to $200,242 from $49,549.
- Integrated Service Program revenue surged to $374,501 from $162,502.
- Convertible notes payable of $20,000 were fully paid off in February 2026.
- Due to related party increased to $93,304, including a $90,000 loan.