Quarterly ResultMay 8, 2026, 04:47 PM
SunHydrogen Reports Q3 Net Loss of $1.53M; Cash Down to $13.07M
AI Summary
SunHydrogen, Inc. reported a net loss of $1,534,383 for the three months ended March 31, 2026, and $4,592,609 for the nine months, showing an improvement in losses year-over-year. However, the company's cash and cash equivalents significantly decreased to $13,073,063 from $34,628,625. The company continues to invest heavily in research and development, with R&D costs increasing to $3,110,003 for the nine-month period, while generating minimal revenue.
Key Highlights
- Net loss for the three months ended March 31, 2026, was $1,534,383, an improvement from $1,737,939 in the prior year.
- Net loss for the nine months ended March 31, 2026, was $4,592,609, down from $7,255,839 in the prior year.
- Cash and cash equivalents decreased to $13,073,063 at March 31, 2026, from $34,628,625 at June 30, 2025.
- Total assets decreased to $33,948,161 at March 31, 2026, from $37,923,920 at June 30, 2025.
- Research and development costs increased to $3,110,003 for the nine months ended March 31, 2026, from $2,369,119.
- Net cash used in operating activities increased to $3,851,980 for the nine months ended March 31, 2026.
- Short-term investments increased to $19,805,295 at March 31, 2026, from $2,997,460 at June 30, 2025.
- Revenue for the nine months ended March 31, 2026, was $1,250.