Quarterly ResultApr 30, 2026, 04:40 PM
SOBR Q1 Net Loss $(2.29M); Cash $(2.65M); Going Concern Doubt
AI Summary
SOBR Safe, Inc. reported a net loss of $(2.29) million for Q1 2026, an increase from $(1.88) million in Q1 2025, on revenues of $79,003, down from $86,617 year-over-year. The company experienced a significant decrease in cash, with net cash used in operating activities rising to $(2.59) million. Management has raised substantial doubt about the company's ability to continue as a going concern due to recurring losses, negative cash flows, and limited liquidity, with existing cash not sufficient for the next 12 months. The company is also facing risks related to its Nasdaq listing and is pursuing an uncertain merger with Clean World Ventures, Inc.
Key Highlights
- Substantial doubt about going concern due to recurring losses and negative cash flows.
- Q1 2026 net loss attributable to SOBR Safe, Inc. was $(2.29) million, up from $(1.88) million YoY.
- Q1 2026 revenues decreased to $79,003 from $86,617 in Q1 2025.
- Net cash used in operating activities increased to $(2.59) million in Q1 2026.
- Cash balance declined to $2.11 million as of March 31, 2026, from $4.76 million at Dec 31, 2025.
- Accumulated deficit reached $(109.6) million as of March 31, 2026.
- Company faces Nasdaq listing risks and is pursuing an uncertain merger with Clean World Ventures, Inc.