10-Q · May 15, 2026
Citius Oncology recorded product revenues of $1,667,298 in Q1 2026, marking a strong gross profit margin of approximately 80%. Despite this revenue growth, the company reported significant net losses of $26,609,695 due…
Earnings analysis · 10-Q
CTOR earnings analysis
Filed August 14, 2026 · Our reading of the company's report
The latest report
2026Q2 revenue fell 50% sequentially to $2.0 million from $4.0 million, while gross margin was broadly stable at 80.3%. Operating margin worsened to negative 1,716.2% from negative 133.2%, and diluted EPS declined to…
Read full summary
2026Q2 revenue fell 50% sequentially to $2.0 million from $4.0 million, while gross margin was broadly stable at 80.3%. Operating margin worsened to negative 1,716.2% from negative 133.2%, and diluted EPS declined to negative $0.27 from negative $0.06. The filing provides no numeric guidance and highlights substantial financing risks, including a 12.75% minimum interest rate, a $1,062,500 maturity payment, milestone-dependent funding tranches, and potential conversion of up to $4.0 million of debt.
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.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
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
- $-0.27
What stood out
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Revenue declined 50% sequentially
Revenue was $2.0 million in 2026Q2, down approximately 50% from $4.0 million in 2026Q1. The filing data provided does not include a comparable prior-year quarterly revenue figure.
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Gross margin remained stable
Gross margin was 80.3% in 2026Q2 versus 80.0% in 2026Q1, an improvement of 0.3 percentage points despite lower revenue.
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Operating losses sharply worsened
Operating margin deteriorated to negative 1,716.2% in 2026Q2 from negative 133.2% in 2026Q1, a decline of 1,583.0 percentage points.
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EPS loss expanded materially
Diluted EPS was negative $0.27 in 2026Q2 versus negative $0.06 in 2026Q1, a $0.21 per-share sequential deterioration.
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Disclosure controls remained effective
The company states that disclosure controls were effective as of June 30, 2026, and that there were no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls during the quarter.
What to watch
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High-cost debt and balloon payment
The Loan Agreement carries a floating interest rate with a floor of 12.75% per annum. The company also must make a final payment of $1,062,500 at maturity, creating a balloon obligation that may pressure liquidity.
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Future funding depends on milestones
Availability of Tranche 2 and Tranche 3 is conditioned on achieving specified net revenue and liquidity milestones. Failure to meet those milestones would eliminate access to additional committed capital and could impair ongoing operations and working capital funding.
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Loan conversion creates dilution risk
Lenders may convert up to $4.0 million of outstanding principal into common stock at $1.08 per share, while lender warrants equal 10% of funded loan portions and are exercisable at $0.90 per share, creating meaningful potential dilution.
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Broad collateral lien raises default risk
The Loan Agreement is secured by a first-priority lien on substantially all assets, including intellectual property, accounts receivable, inventory, equipment, and general intangibles. A default could allow foreclosure on the company’s core operating assets.
Management's outlook
The filing provides no explicit numeric revenue or EPS guidance; quantitative outlook was not provided in the extracted MD&A.
Earlier filings 4
10-Q · February 13, 2026
Citius Oncology reported first commercial revenue of $3,944,111 for Q1 (period ended December 31, 2025) following the December 2025 launch of LYMPHIR, yielding gross profit of $3,154,903 (80.0% gross margin). Despite…
10-Q · August 9, 2024
Citius Oncology (formerly TenX Keane) remains a pre‑combination SPAC with no operating revenues. Investments held in the trust fell to $49,152,639 at June 30, 2024 from $72,565,394 at December 31, 2023 (driven by…
10-Q · May 20, 2024
TenX Keane (CTOR) reported no operating revenue (SPAC) and generated net income of $489,829 for the quarter ended March 31, 2024, driven by interest on trust assets. Investments held in the trust fell materially to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.