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- Material Weakness (new) — Disclosure controls and ICFR were not effective as of March 31, 2026 because material weaknesses from the 2025 Form 10-K remain unremediated.
- Covenant Violation (new) — The company was not in compliance with the consolidated total leverage ratio and interest coverage ratio covenants under its European credit facility as of March 31, 2026; a waiver was obtained on May 13, 2026.
XBP Global swings to $26.8M Q1 loss; cash falls to $53.1M and two debt covenants breached
Filed May 15, 2026 · Period ending March 31, 2026 · ~2 min read
Key Changes
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Net loss of $26.8M in Q1 2026 vs a $39.6M profit a year earlier, which included a $60.8M reorganization gain; excluding that gain, the prior-year loss was $19.2M.
MD&A: Results of Operations verify on EDGAR → -
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Cash and equivalents declined to $53.1 million from $68.7 million at year-end, and the company was not in compliance with two financial covenants under its European credit facility as of March 31, 2026; a waiver was obtained on May 13, 2026.
MD&A: Liquidity and Capital Resources verify on EDGAR → -
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Disclosure controls and internal control over financial reporting remain ineffective due to unremediated material weaknesses from the 2025 Form 10-K.
Controls and Procedures verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 26, 2026 · How we verify