10-Q · May 18, 2026
Amesite's latest 10-Q reveals significant revenue growth, with total revenues reaching $285,678 for the nine months ended March 31, 2026, up substantially from $54,700 in the prior year. The company continues to…
Earnings analysis · 10-K
AMST earnings analysis
Filed September 23, 2026 · Our reading of the company's report
The latest report
Amesite’s healthcare-focused strategy produced strong reported growth, with revenue rising to $364,777 and B2B representing 82% of sales, while lower operating expenses narrowed the net loss to $3,095,838. However, the…
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Amesite’s healthcare-focused strategy produced strong reported growth, with revenue rising to $364,777 and B2B representing 82% of sales, while lower operating expenses narrowed the net loss to $3,095,838. However, the company remains deeply unprofitable, generated $2,146,717 of operating cash burn, and explicitly reports substantial doubt about its ability to continue as a going concern. April financing improved liquidity but materially increased share count and warrants, and further equity sales may be required.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.63
- Operating margin
- -861.9%
- Segment
- Single AI-driven solutions segment: total revenue $364,777; B2B $297,673 (82%); B2C $67,104 (18%).
What stood out
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Revenue more than tripled
Revenue increased to $364,777 from $110,459 in fiscal 2025, while the company said growth was primarily from B2B license fees related to the NurseMagic app.
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Pivot to healthcare AI
The strategy pivot is toward healthcare AI: management has de-focused on academic customers and focused new development on AI tools for markets where capability can immediately affect performance and the bottom line.
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B2B mix drives growth
B2B revenue was $297,673, or 82% of total revenue, versus $83,458, or 76%, in fiscal 2025; B2C revenue was $67,104, or 18%, versus $27,001, or 24%.
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Losses narrowed through cost control
Operating expenses declined to $3,507,883 from $3,714,072, and net loss narrowed to $3,095,838 from $3,617,086, a $521,248 improvement. Sales and marketing expense fell to $384,041 from $545,030, while technology and content expense declined to $613,578 from $691,154.
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Lower cash operating burn
Operating cash burn improved to $2,146,717 from $2,455,248, while capitalized software investment declined to $225,098 from $378,300. The company continues to build its hosted SaaS platform and amortizes capitalized software over three years.
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Funding extended near-term runway
The April 2026 offerings generated approximately $2.6 million of gross proceeds, including approximately $600,000 from two directors, and increased outstanding common shares to 6,549,851 from 4,572,713.
What to watch
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Substantial going-concern uncertainty
Management states that cash, cash equivalents, and restricted cash totaled approximately $2,399,000 at June 30, 2026, versus a fiscal-year net loss of approximately $3,096,000 and operating cash use of $2,146,717. Management believes it may not have sufficient cash to maintain planned operations for the next twelve months, and the filing concludes that substantial doubt about going concern remains.
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Dilution and repeated financing dependence
The April 2026 financing increased shares outstanding from 4,572,713 to 6,549,851 and left 4,137,822 warrants outstanding, including 1,811,850 Series A-1 and 1,811,850 Series A-2 warrants at a $1.435 exercise price. In addition, the July 2026 ATM agreement permits sales of common stock from time to time and charges a 3.0% commission, creating potential additional dilution and funding dependence.
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Software recovery and execution risk
Capitalized software had a $497,034 carrying value at June 30, 2026, after $225,098 of additions and $251,868 of amortization during the year. The auditor identified capitalization and recoverability as a critical audit matter because project-stage determinations and impairment assessments require subjective judgment amid operating losses, liquidity pressure, and an evolving product strategy; the prior-year software impairment was $90,869.
Management's outlook
The 10-K provides no numeric revenue or EPS guidance. Management states it expects to continue incurring net losses and using cash in operations, and may not have sufficient cash to maintain planned operations for the next twelve months.
Earlier filings 4
10-K · September 29, 2025
Amesite completed a strategic pivot to healthcare in fiscal 2025 and has commercialized its NurseMagic™ product for both B2C and B2B customers, emphasizing rapid, HIPAA‑compliant deployments. The company highlights…
10-Q · February 7, 2025
Amesite reported revenue of $12,760 for the three months ended December 31, 2024, down from $41,443 in the comparable prior-year quarter, and a net loss of $1,121,637 (loss per share $(0.40)). Management discloses…
10-Q · May 10, 2024
Amesite reported net revenue of $34,261 and GAAP diluted loss per share of $(0.56) for the three months ended March 31, 2024, with net loss of $1,425,912 for the quarter. Revenue plunged versus the prior-year quarter…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.