Lunai Bioworks (LNAI) Q2 2026 earnings summary

Executive summary

• Achieved net income of $1.0 million for the six months ended December 31, 2025, compared to a net loss of $51.5 million in the prior year period, driven by a gain on subsidiary bankruptcy and reduced operating expenses.

• Operating expenses decreased 91% year-over-year for the six months, primarily due to lower goodwill impairment, general and administrative, and R&D costs.

• Completed the acquisition of BioSymetrics Inc., expanding AI-driven biomedical capabilities and segment reporting.

• Deconsolidated Gedi Cube B.V. following its bankruptcy, resulting in a $12.0 million gain.

Financial highlights

• Net income for the six months ended December 31, 2025, was $1.0 million, compared to a net loss of $51.5 million in the prior year period.

• Operating expenses for the six months were $5.1 million, down from $57.9 million year-over-year, reflecting a $47.6 million decrease in goodwill impairment.

• Cash at period end was $491,645, up from $92,700 at June 30, 2025; working capital deficit improved to $19.5 million from $28.1 million.

• Total assets decreased to $6.7 million from $8.2 million at June 30, 2025; total liabilities decreased to $20.2 million from $29.6 million.

• Net cash used in operating activities was $2.4 million for the six months, with $2.3 million provided by financing activities.

Outlook and guidance

• Management continues to focus on AI-driven neurology and oncology diagnostics and therapeutics, with cost reductions and workforce streamlining.

• Ongoing need for additional funding through equity or debt; substantial doubt exists about the ability to continue as a going concern.

• Funding in fiscal 2026 is expected to support obligations, product commercialization, and clinical development.