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Netcapital Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary16 Dec, 2025
Executive summary
Q2 FY26 revenues dropped to $51,076 from $170,528 year-over-year, mainly due to lower portal fees and fewer new issuers launching offerings.
Operating loss was $2,119,457, a slight improvement from $2,202,431 in the prior year; loss per share narrowed to $0.44 from $2.34.
The company is pivoting to focus on its core fintech platform, leveraging its broker-dealer license, and expanding into blockchain and tokenized asset markets.
Strategic acquisitions, including Rivetz and Horizon, are intended to support a shift toward tokenized asset markets and blockchain-enabled solutions.
CEO transition with Rich Wheeless appointed, and new General Counsel, as part of a broader strategic shift.
Financial highlights
Q2 FY26 revenue was $51,076, down from $170,528 year-over-year; gross profit for the quarter was $1,877.
Operating loss improved to $2,119,457 from $2,202,431; net loss per share improved to $(0.44) from $(2.34).
Cash and cash equivalents stood at $1,684,188 as of October 31, 2025; negative working capital of $1,500,153.
Weighted average shares outstanding increased to 4,810,381 from 947,459 year-over-year.
Total assets rose to $25,439,398 and total liabilities to $5,995,767 as of October 31, 2025.
Outlook and guidance
Management is optimistic about the regulatory environment for tokenized assets and expects future revenue from broker-dealer and digital asset activities.
Plans to grow platform volume, leverage broker-dealer capabilities, and expand into digital assets and tokenization.
Anticipates high-margin revenue streams from compliant utility token sales and single large transactions.
Management expresses substantial doubt about the company's ability to continue as a going concern due to recurring losses and negative cash flow.
The company plans to seek additional capital and operate with lower fixed overhead.
How will crypto offerings offset funding portal decline?
Source of cash increase despite revenue decline?
Rivetz acquisition's revenue contribution timeline?
Broker-dealer revenue contribution outlook
Rivetz acquisition's role in tokenization strategy
Cash runway given current burn and new strategy
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Next Netcapital earnings date
Q3 202618 Mar, 2026
Next Netcapital earnings date
Q3 202618 Mar, 2026
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Frequently asked questions
Netcapital Inc. operates as a financial technology company, primarily facilitating private company investment opportunities. The company provides an online platform that connects entrepreneurs and investors, enabling businesses to raise capital and individuals to invest in private companies. Netcapital’s platform supports early-stage companies seeking funding, allowing investors to participate in equity crowdfunding opportunities. In addition to its core platform services, the company offers advisory services, assisting startups with growth strategies and capital structuring. The company is headquartered in Boston, Massachusetts, and its shares are listed on the NASDAQ.
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