JFB Construction (JFB) investor relations material

Executive summary

• Revenue for the six months ended June 30, 2026, increased 127% year-over-year to $21.8 million, driven by larger real estate development projects and expanded construction activity.

• Net loss widened to $7.3 million from $2.3 million in the prior year, reflecting higher operating expenses and investments in growth initiatives.

• The company entered a definitive merger agreement with XTEND, remitting a $30.2 million upfront payment; the transaction is pending regulatory approval.

• Significant expansion in commercial and real estate development segments, with continued focus on franchise relationships and geographic growth.

Financial highlights

• Gross profit rose 52% to $2.6 million for the six months ended June 30, 2026, compared to $1.7 million in the prior year.

• Operating expenses increased 140% to $10.1 million, mainly due to higher selling, marketing, and administrative costs.

• Cash and restricted cash at period end totaled $8.0 million, down from $25.2 million at the start of the year, primarily due to the XTEND merger payment.

• Net cash used in investing activities was $30.5 million, reflecting the merger payment and other investments.

• Net cash provided by financing activities was $14.5 million, including $9.0 million from a PIPE transaction and $5.0 million from warrant exercises.

Outlook and guidance

• Management expects continued revenue growth from larger, capital-intensive projects and expansion into new states, leveraging franchise relationships.

• The company anticipates increased bonding capacity will enable pursuit of higher-value contracts, particularly in government and infrastructure sectors.

• Strategic focus remains on expanding real estate development and commercial construction segments, with ongoing evaluation of market opportunities.