ENDRA Life Sciences (NDRA) Q2 2026 earnings summary

Executive summary

• No revenue generated as of June 30, 2026; focus remains on developing and commercializing the TAEUS platform for liver fat measurement and metabolic disease management.

• Expanded business strategy to include a digital asset treasury initiative, generating non-dilutive returns through DeFi investments.

• Entered into a merger agreement with ASP Isotopes, Noble Africa, and Renergen, with significant implications for future operations and capital structure.

Financial highlights

• Net income of $159,944 for Q2 2026, compared to a net loss of $1,225,912 in Q2 2025.

• Net loss of $1,151,489 for the six months ended June 30, 2026, improved from a net loss of $2,262,242 for the same period in 2025.

• Operating expenses for the six months ended June 30, 2026 were $3,657,004, up from $2,770,372 year-over-year.

• Other income for the six months ended June 30, 2026 was $2,505,515, driven by gains in digital assets and changes in warrant liability.

• Cash and cash equivalents of $5.5 million as of June 30, 2026, with $3.8 million classified as restricted cash.

Outlook and guidance

• Cash position expected to fund operations through the anticipated merger closing; substantial doubt exists about the ability to continue as a going concern if the merger is not completed.

• Additional capital will be required to fund operations and commercialization if the merger does not close.

• Cost reduction measures implemented, including headcount reduction and prioritization of development activities.