NASDAQ: EXYN
Exyn Technologies, Inc.CIK 0001960355 · SIC 7372 · Prepackaged Software
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EXYN: revenue $949,604, net income -$6.9M. Exyn amends Q2 2026 10-Q to correct CEO departure from 'terminated' to 'resigned'
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Exyn Technologies prices $19.4M IPO of 2.5M units at $7.75 each, with warrants exercisable at $9.69
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Exyn Technologies restates 2025 financials, adds going-concern warning and shortens WAB loan maturity to June 2026
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Latest financial statements
From 10-Q/A filed Aug 20, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues, net | 949,604 | 1,357,757 | 2,140,201 | 2,575,810 |
| Cost of revenues | 504,451 | 805,878 | 1,192,713 | 1,590,772 |
| Gross profit | 445,153 | 551,879 | 947,488 | 985,038 |
| Operating expenses: | ||||
| Selling, general, and administrative expenses | 3,015,844 | 1,319,147 | 4,968,243 | 2,700,036 |
| Research and development expenses | 1,358,977 | 1,187,338 | 2,573,811 | 2,521,257 |
| Stock-based compensation | 197,785 | 201,734 | 397,594 | 403,468 |
| Total operating expenses | 4,572,606 | 2,708,219 | 7,939,648 | 5,624,761 |
| Operating loss | (4,127,453) | (2,156,340) | (6,992,160) | (4,639,723) |
| Non-operating income (expense): | ||||
| Interest expense | (446,179) | (87,844) | (782,333) | (169,167) |
| Interest income | 36,019 | 7,558 | 39,847 | 15,074 |
| Noncash change in fair value of SAFE liabilities | 565,576 | (677,000) | 535,576 | (677,000) |
| Debt modification expense | (679,514) | — | (679,514) | — |
| Debt settlement expense | (1,917,165) | — | (1,917,165) | — |
| Other expense | (325,159) | (8,341) | (336,911) | (30,810) |
| Total non-operating income (expense) | (2,766,422) | (765,627) | (3,140,500) | (861,903) |
| Net loss before income tax benefit | (6,893,875) | (2,921,967) | (10,132,660) | (5,501,626) |
| Income Tax Benefit | — | — | — | — |
| Net loss | (6,893,875) | (2,921,967) | (10,132,660) | (5,501,626) |
| Other comprehensive income (loss): | ||||
| Foreign currency translation | 1,062 | (4,819) | 27,798 | (4,603) |
| Comprehensive loss | (6,892,813) | (2,926,786) | (10,104,862) | (5,506,229) |
| Net loss per share: basic and diluted | (1.55) | (2.22) | (3.50) | (4.18) |
| Weighted-average number of common shares outstanding basic and diluted | 4,453,796 | 1,316,616 | 2,896,798 | 1,316,616 |
Condensed Consolidated Balance Sheets (Unaudited)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 7,835,535 | 812,534 |
| Accounts receivable, net | 848,254 | 1,456,208 |
| Inventories, net | 1,713,906 | 1,622,833 |
| Prepaid expenses and other current assets | 826,200 | 1,246,286 |
| Total current assets | 11,223,895 | 5,137,861 |
| Property and equipment, net | 233,283 | 344,114 |
| Right of use assets | 236,397 | 312,041 |
| Other assets | 63,700 | 63,700 |
| Total assets | 11,757,275 | 5,857,716 |
| Liabilities and Stockholders’ Equity (Deficit) | ||
| Current liabilities: | ||
| Accounts payable | 1,181,455 | 1,618,701 |
| Accrued expenses and other current liabilities | 2,840,137 | 1,866,123 |
| SAFE liabilities | — | 6,887,000 |
| Deferred revenues | 227,348 | 348,538 |
| Current portion of operating lease liabilities | 161,992 | 156,797 |
| Current portion of notes payable, net | 1,687,792 | 6,123,992 |
| Total current liabilities | 6,098,724 | 17,001,152 |
| Long-term liabilities: | ||
| Operating lease liabilities, net of current portion | 84,467 | 167,290 |
| Total long-term liabilities | 84,467 | 167,290 |
| Total liabilities | 6,183,191 | 17,168,442 |
| Stockholders’ Equity (Deficit) | ||
| Preferred Stock, $0.0001 par value, 10,000,000 and 74,382,714 shares authorized and 0, and 64,322,487 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | — | 6,432 |
| Common Stock, $0.0001 par value, 50,000,000 shares authorized and 7,953,957 and 1,322,500 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 795 | 132 |
| Additional paid-in capital | 91,637,816 | 64,642,374 |
| Accumulated deficit | (86,045,855) | (75,913,195) |
| Accumulated other comprehensive loss | (18,672) | (46,470) |
| Total stockholders’ equity (deficit) | 5,574,084 | (11,310,726) |
| Total liabilities and stockholders’ equity (deficit) | 11,757,275 | 5,857,716 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (10,132,660) | (5,501,626) |
| Adjustments to reconcile net loss to net cash used in | ||
| Operating activities: | ||
| Depreciation and amortization | 139,522 | 170,468 |
| Amortization of debt issuance costs | 327,729 | 20,244 |
| Amortization of right of use assets | 75,644 | 72,704 |
| Debt modification expenses | 679,514 | — |
| Stock payments made for settlement of debt | 669,448 | — |
| Noncash change in fair value of SAFE liabilities | (535,576) | 677,000 |
| Stock-based compensation | 397,594 | 403,468 |
| Change in provision for credit losses | 72,793 | 11,800 |
| Changes in assets and liabilities: | ||
| Accounts receivable | 535,161 | 1,066,925 |
| Inventories | (63,275) | (198,000) |
| Prepaid expenses and other current assets | 420,086 | (224,463) |
| Accounts payable | (437,246) | (44,797) |
| Accrued expenses and other current liabilities | 853,031 | (87,552) |
| Operating lease liabilities | (77,628) | (72,441) |
| Net cash used in operating activities | (7,075,863) | (3,706,270) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (28,691) | (13,700) |
| Net cash used in investing activities | (28,691) | (13,700) |
| Cash flows from financing activities: | ||
| Proceed from the issuance of common stock, net of expenses and underwriting fees of $2,304,707 | 15,345,293 | — |
| Net borrowings under notes payable | 1,000,000 | 1,500,000 |
| Net repayments under notes payable | (2,217,738) | — |
| Net borrowings under SAFE liabilities | — | 1,500,000 |
| Net cash provided by financing activities | 14,127,555 | 3,000,000 |
| Net change in cash | 7,023,001 | (719,970) |
| Cash, beginning of period: | 812,534 | 1,981,564 |
| Cash, end of period: | 7,835,535 | 1,261,594 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | 348,173 | 87,844 |
| Cash paid for income taxes | — | — |
| Non-cash investing and financing activity | ||
| Issuance of warrants in connection with conversion of debt | 548,448 | — |
| Issuance of equity kicker shares | 1,270,457 | — |
| Conversion of debt into common stock | 3,076,296 | — |
| Conversion of SAFE liabilities into common stock | 6,351,424 | — |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗