GCTS revenue surges 287% on first 5G sales; loss widens to $9.9M amid debt penalties

Filed May 12, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 14, 2025 · ~2 min read

Key Changes

• high

  Q1 2026 revenue jumped 287% to $1.9M, driven by first-ever 5G product ($0.1M) and service ($1.4M) sales, validating multi-year product transition after commercial shipments began Q4 2025.

  MD&A: Revenue verify on EDGAR →
• high

  Net loss widened to $9.9M from $7.0M despite revenue growth, driven by $0.7M in penalties on overdue loans (now $2.7M cumulative to related-party lender) and $3.1M warrant liability loss.

  MD&A: Net Loss & Interest Expense verify on EDGAR →
• high

  Company raised $12.3M via new ATM offering and $2.8M from convertible note facility, boosting cash to $7.2M from $1.0M, but $52.1M in debt remains due within 12 months; going-concern warning persists.

  MD&A: Liquidity verify on EDGAR →