QUANTUM X LABS INC. (QXL) Form 10-Q — Aug 13, 2026

$QXLForm 10-QFiled Aug 13, 2026, 4:31 PM ET0001493152-26-037811Original filing

Quantum X Labs (QXL) filed its Q2 2026 10-Q showing a swing to net income of $1.88M attributable to shareholders ($0.15 basic EPS) for the six months ended June 30, 2026, versus a $15.3M loss a year earlier — but the profit rests on a one-time $3.83M gain from deconsolidating CliniQuantum, not operations. Revenue fell 28% to $646K as the legacy search business shrank from $883K to $626K and the new quantum segment generated nothing, widening the operating loss to $1.95M from $1.08M. The company disclosed substantial doubt about its ability to continue as a going concern, with $2.4M in cash against roughly $1.9M of debt and a $44.2M accumulated deficit.

Key figures

Eps: $0.15 basic / $0.10 diluted (six months ended June 30, 2026) vs $(2.42) prior year
Revenue: 646000
Net Income: $1.812M ($1.880M attributable to QXL shareholders) vs $(16.262)M net loss in 6M 2025
Total Debt: $1.905M (bank loans $1.238M + short-term convertible loans $667K)
Revenue Yoy: -28.1%
Total Assets: 31167000
Cash Position: 2435000
Shares Outstanding: 21567826
Goodwill: $20.721M (up from $6.392M at Dec 31, 2025)
Total equity: $25.783M
Q2 2026 revenue: $293K vs $370K year-ago
Accumulated deficit: $44.167M
Metagramm earnout cap: $2.0M
Operating loss 6m 2026: $1.945M vs $1.078M in 6M 2025
Cortex sale consideration: $0.8M ($0.2M cash + $0.6M Minute Media Preferred J Shares)
Search segment revenue 6m: $626K vs $883K year-ago
Quantum segment revenue 6m: $0
Potential earnout shares quantum: 12702847
Deconsolidation gain cliniquantum: $3.831M (June 3, 2026 loss of control; retained stake now equity method at $3.84M fair value)
Quantum israel total consideration: $15.171M ($10.670M in shares/pre-funded warrants + $4.501M contingent earn-out at fair value)
July 2026 warrant exercise proceeds: $1.505M (post-period)
June 2026 warrant exercise proceeds: $2.413M
Private placement 2026 gross proceeds: $1.4M (800,000 shares at $1.75 plus warrants; closed March 4, 2026)

Price after filing

1 day: -7.5%7 days: -6.3%30 days: -6.9%

Close on the filing date to close N calendar days later (from $4.77). Historical, not a forecast.

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