Quarterly ResultMay 15, 2026, 04:45 PM
Vertical Data Cancels 31.7M Shares; Cash $3.5M; Q1 Revenue $568K
AI Summary
Vertical Data Inc. reported a significant corporate action with the cancellation of over 31.7 million common shares in October 2025. The company's financial position strengthened considerably, with cash and total assets increasing substantially due to an $11.2 million customer prepayment. While revenue for the three months ended March 31, 2026, saw a significant increase, the six-month revenue decreased due to delayed transactions and extended customer procurement cycles, though net losses improved for both periods.
Key Highlights
- Common stock cancellation of 31,752,690 shares occurred in October 2025.
- Cash and cash equivalents increased to $3,498,427 as of March 31, 2026.
- Total assets grew to $11,167,727 as of March 31, 2026, from $519,169.
- Recognized a new contract liability of $11,200,000 from customer prepayment.
- Revenue for the three months ended March 31, 2026, was $568,000, up from $0.
- Net loss for the three months ended March 31, 2026, improved to $(1,330,001).
- Revenue for the six months ended March 31, 2026, was $625,000, down from $3,666,000.
- Total equity (deficit) was $(258,222) as of March 31, 2026.
Price Impact
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