10-Q · May 15, 2026
ENDRA Life Sciences reported no revenue for the quarter ending March 31, 2026, maintaining a trend of no revenue generation in the corresponding period of the previous year. The net loss increased to $1.31 million…
Earnings analysis · 10-Q
NDRA earnings analysis
Filed August 14, 2026 · Our reading of the company's report
The latest report
The supplied 10-Q extract does not include the income statement, balance sheet, cash-flow statement, or MD&A financial tables, so current revenue, margins, EPS, cash flow, and segment trends cannot be quantified. The…
Read full summary
The supplied 10-Q extract does not include the income statement, balance sheet, cash-flow statement, or MD&A financial tables, so current revenue, margins, EPS, cash flow, and segment trends cannot be quantified. The filing identifies a material weakness in disclosure controls as of June 30, 2026, citing insufficient accounting personnel and funding-dependent remediation. The proposed merger remains subject to conditions including minimum cash of $3.8 million and an approximately $50 million investment, with a December 31, 2026 termination date.
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.
What stood out
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Merger milestones are explicitly defined
The proposed merger has defined financing and regulatory milestones, including ENDRA maintaining at least $3.8 million of cash and Noble Africa receiving proceeds from an approximately $50 million investment.
What to watch
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Merger has significant closing conditions
Merger completion depends on multiple conditions outside the parties’ control, including ENDRA stockholder approval, Nasdaq listing approval, cash of at least $3.8 million, the approximately $50 million Noble Investment, and regulatory consents.
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Merger termination could hurt shareholders
Either ENDRA or Noble Africa may terminate the Merger Agreement if the transaction has not been completed by December 31, 2026. If ENDRA elects not to continue pursuing the merger, the Side Letter Agreement may require repayment based on a 10-day volume-weighted average price.
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Material weakness in internal controls
As of June 30, 2026, management concluded disclosure controls were not effective because of insufficient accounting personnel to segregate duties; remediation hiring is contingent on obtaining additional funding and operating results.
Management's outlook
No quantitative revenue or EPS outlook was provided in the supplied 10-Q text; numeric fields are therefore null.
Earlier filings 4
10-K · March 31, 2026
ENDRA (NDRA) reported no revenue and a diluted EPS loss of -$3.25 for Q4 2025, and the company has implemented 2026 cost reductions including headcount cuts while the Board launched a strategic-alternatives review on…
10-Q · August 14, 2025
ENDRA reported no revenue and a Q2 2025 net loss of $1,225,912 (improved vs. Q2 2024 loss of $2,229,153), but reported diluted loss per share widened to $(1.71) from $(0.08) due to a large increase in weighted average…
10-Q · May 15, 2025
ENDRA reported a net loss of $1,036,330 for the three months ended March 31, 2025 (net loss per share $(1.86)) and did not report product revenue or orders pending. Operating expenses were meaningfully reduced…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.