IGC Pharma, Inc. (IGC) Form 10-Q — Aug 14, 2026
IGC Pharma reported a Q2 2026 net loss of $2.9 million, up 84% from $1.6 million a year earlier, as revenue fell 19% to $265 thousand and gross margin compressed from 47% to 18% during the transition to third-party manufacturing. Six-month net loss reached $5.3 million versus $2.8 million in the prior-year period. Liquidity is the headline risk: cash fell 63% to $331 thousand, the working capital deficit widened to roughly $2.0 million, and management's going-concern assessment depends on an undrawn $12 million O-Bank revolving facility expiring May 31, 2027, plus anticipated equity and debt financings.
Key figures
- Eps
- -0.03 (Q2); -0.05 (six months)
- Revenue
- 265000 (Q2 2026); 582000 (six months 2026)
- Net Income
- -2936000 (Q2); -5338000 (six months)
- Revenue Yoy
- -19% (Q2); -12% (six months)
- Total Assets
- 9496000
- Cash Position
- 331000
- Shares Outstanding
- 103384008
- Ondeck apr pct
- 31.9
- Gross margin q2
- 18% vs 47% prior year
- O bank revolver usd
- 12000000
- Operating loss q2 usd
- 2784000
- O bank facility expiry
- May 31, 2027
- Calma enrollment target
- 146
- Capitalized software usd
- 1800000
- Digital asset etp value usd
- 23000
- Working capital deficit usd
- 1951000
- Operating loss six month usd
- 5242000
- Related party share price usd
- 0.27
- Related party shares to issue
- 4274853
- Stock based comp six month usd
- 1756000
- Convertible notes principal usd
- 937000
- Related party amount settled usd
- 1154210
- Six month operating cash use usd
- 2573000
- Atm raised under 60m agreement usd
- 7700000
- Atm post quarter gross proceeds usd
- 687000
Price after filing
Close on the filing date to close N calendar days later (from $0.30). Historical, not a forecast.
AI analysis
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