ENDRA Life Sciences (NDRA) Q1 2026 earnings summary

Executive summary

• Focused on developing TAEUS, a non-invasive ultrasound platform for liver fat assessment in metabolic diseases, with a subscription-based business model targeting pharma, clinics, and primary care.

• Expanded strategy in 2025 to include a digital asset treasury initiative to generate non-dilutive returns alongside core medical technology efforts.

• No commercial revenue generated as of March 31, 2026; operations funded by equity sales and digital asset activities.

Financial highlights

• Net loss for Q1 2026 was $1,311,433, compared to $1,036,330 in Q1 2025.

• Operating expenses rose to $2,173,748 in Q1 2026 from $1,469,282 in Q1 2025, driven by higher R&D and G&A costs.

• Cash balance at March 31, 2026 was $356,462, down from $762,365 at year-end 2025.

• Digital assets valued at $2,430,781 as of March 31, 2026, up from $2,009,960 at year-end 2025.

• Accumulated deficit reached $111,776,942 as of March 31, 2026.

Outlook and guidance

• Management expects continued operating losses and negative cash flows until commercialization of TAEUS.

• Cost reduction measures implemented, including headcount reduction and prioritization of development over clinical activities, to extend runway.

• Strategic alternatives under review, including investments, mergers, asset sales, or company sale.

• Additional capital required to fund operations through 2026 and beyond; no committed external funding except for limited ATM program.