20/20 Biolabs Q1 2026: revenue fell 36% to $353,375, net loss widened to -$2.2M; material weaknesses disclosed

Filed May 20, 2026 · Period ending March 31, 2026 · ~2 min read

Key Changes

• high

  Net loss widened 184% to $2.2M from $765K in Q1 2025, driven by a 36% revenue decline to $353K, gross margin compression from 30% to 18%, and $731K in other expenses (interest, derivative losses, convertible note issuance loss).

  MD&A: Financial Results verify on EDGAR →
• high

  Management disclosed material weaknesses in disclosure controls: insufficient trained professionals for risk assessment and accounting controls, and lack of GAAP expertise for complex transactions. Financial statements are asserted fairly presented despite the control deficiencies.

  Controls and Procedures verify on EDGAR →
• high

  Raised $5M in February 2026 via Series E convertible preferred stock (9% annual return, 15% upon default) and warrants to purchase 3.5M shares at $11.42. Completed Nasdaq direct listing at $11.42 on February 19, 2026.

  Notes: Series E Financing view on EDGAR →