Aspira Women's Health (AWH) Q1 2026 earnings summary

Executive summary

• Revenue for the quarter ended March 31, 2026, was $1.97 million, down 14% year-over-year due to a decrease in OvaSuite test volume, attributed to reduced field sales headcount.

• Net income for the quarter was $676,000, compared to a net loss of $1.85 million in the prior year, primarily due to a $3.1 million gain from the change in fair value of warrant liabilities.

• Gross profit margin declined to 54.4% from 68.5% year-over-year, reflecting higher phlebotomy and personnel costs.

• Operating loss was $2.2 million, improved from a $3.2 million loss in the prior year.

Financial highlights

• Product revenue decreased by $312,000 (14%) year-over-year, with 4,896 OvaSuite tests performed, down from 5,679.

• Cost of revenue increased by $177,000 (25%) due to higher phlebotomy and personnel expenses.

• Research and development expenses rose by $253,000 (26%) due to increased clinical trial and personnel costs.

• Sales and marketing expenses fell by $543,000 (50%) due to lower personnel and consulting costs.

• General and administrative expenses decreased by $1.2 million (45%) year-over-year.

• Net cash used in operating activities was $359,000 for the quarter.

Outlook and guidance

• Management expects revenue to increase in the second quarter of 2026, focusing on higher revenue-generating payers.

• Research and development and general and administrative expenses are expected to increase modestly in the next quarter.

• There is substantial doubt about the ability to continue as a going concern within one year without additional financing or a significant increase in revenue.