Quarterly ResultMay 15, 2026, 02:48 PM
SCWorx Q1 Net Loss Narrows to $0.16/Share; Revenue Up 3.4%; 1:15 Split
AI Summary
SCWorx Corp. reported a significant improvement in its financial performance for the first quarter of 2026, with net loss narrowing to $(173,767) or $(0.16) per share, compared to a net loss of $(476,303) or $(3.71) per share in the prior year. Revenue saw a modest increase of 3.4% to $744,899, while gross profit more than doubled to $374,109. The company also implemented a 1-for-15 reverse stock split in April 2026, which is reflected in the reported figures.
Key Highlights
- Net loss per share improved to $(0.16) for Q1 2026 from $(3.71) in Q1 2025.
- Net loss narrowed to $(173,767) in Q1 2026 from $(476,303) in Q1 2025.
- Revenue increased 3.4% to $744,899 in Q1 2026 from $720,299 in Q1 2025.
- Gross profit surged to $374,109 in Q1 2026 from $136,863 in Q1 2025.
- Cash decreased to $1,341,779 as of March 31, 2026, from $1,644,439 at December 31, 2025.
- SCWorx completed a 1-for-15 reverse stock split effective April 10, 2026.
- Net cash used in operating activities improved to $(252,749) in Q1 2026 from $(404,621) in Q1 2025.
Price Impact
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