Quanome Technologies (QNME) H2 2026 earnings summary

Executive summary

• Revenue from continuing operations (pharmaceutical distribution) grew 112% year-over-year to $5.85M, driven by higher infusion product sales and new customer acquisitions.

• The company divested its U.S. logistics business (ABL Chicago) in February 2026, recording a $2.56M gain on sale and shifting focus to pharmaceutical distribution and emerging technology initiatives.

• New business lines in AI compute capacity and quantum-related technologies were launched but have not yet generated revenue as of June 30, 2026.

Financial highlights

• Gross profit increased 109% to $3.32M, with gross margin rising to 56.7% from 56.1% year-over-year, aided by higher supplier rebates.

• Operating expenses surged to $13.5M (from $3.0M), mainly due to a $2.86M supplier advance write-off, $2.26M credit loss provision on loans, and $3.1M higher professional fees.

• Net loss from continuing operations widened to $10.14M from $1.90M, reflecting increased expenses and one-time charges.

• Net income from discontinued operations was $0.65M, compared to a $3.35M loss in the prior year, due to the gain on sale of ABL Chicago.

• Cash at year-end was $0.67M, with working capital of $6.53M and total equity of $7.0M.

Outlook and guidance

• The company is repositioning toward quantum and AI infrastructure, with significant investments in servers and technical teams, but no revenue yet from these segments.

• Management plans to fund operations through additional equity, loans, and private placements, but substantial doubt exists about the company's ability to continue as a going concern due to recurring losses and negative cash flows.