eXoZymes (EXOZ) Q1 2026 earnings summary

Executive summary

• Pre-revenue biotechnology company focused on synthetic biology platforms for scalable, sustainable chemical production.

• Net loss increased to $2.37 million for Q1 2026, up 27.7% year-over-year, driven by higher R&D and compensation expenses.

• Cash and cash equivalents declined to $1.44 million as of March 31, 2026, reflecting ongoing operating losses and investments.

• Management highlights substantial doubt about the ability to continue as a going concern without additional funding.

Financial highlights

• Total operating costs rose 22.4% year-over-year to $2.39 million, with R&D costs nearly doubling.

• General and administrative costs decreased 8% year-over-year, mainly due to lower professional fees and IT expenses.

• Net loss per share was $(0.28), compared to $(0.22) in Q1 2025.

• Working capital decreased to $507,586 from $2.37 million at year-end 2025.

Outlook and guidance

• Current working capital is insufficient to fund operations for a full twelve months; additional financing is being pursued, including a proposed $15 million public offering.

• Management continues to seek non-dilutive funding such as grants and may consider institutional or bank financing.