10-Q · May 15, 2026
Q/C Technologies (ticker: QCLS) reported no revenue for Q4 2026, continuing a trend of lack of product sales while incurring a net loss of $1.24 million. Operating expenses decreased significantly by 25% to…
Earnings analysis · 10-Q
QCLS earnings analysis
Filed August 12, 2026 · Our reading of the company's report
The latest report
The extracted 10-Q does not include income-statement, balance-sheet, cash-flow, segment, or quantitative outlook data, preventing assessment of revenue, margins, EPS, liquidity, and free cash flow for the period.…
Read full summary
The extracted 10-Q does not include income-statement, balance-sheet, cash-flow, segment, or quantitative outlook data, preventing assessment of revenue, margins, EPS, liquidity, and free cash flow for the period. Disclosure controls were reported effective as of June 30, 2026, but the company underwent a CFO transition on August 11, 2026, with Todd Fagan replacing Ian Rhodes. The filing reports no additional risk factors versus the December 31, 2025 Form 10-K, while the prior disclosed revenue stagnation and business-transition concerns remain unresolved.
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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Disclosure Controls Remained Effective
The CEO and CFO concluded that disclosure controls and procedures were effective as of June 30, 2026, and reported that there were no changes during the quarter that materially affected, or were reasonably likely to materially affect, internal control over financial reporting.
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New CFO Appointed
On August 11, 2026, the company appointed Todd Fagan as CFO, principal financial officer, and principal accounting officer. Fagan had served as Corporate Controller since March 2026 and has been a licensed CPA since 1995.
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Finance Leadership Terms Disclosed
Under the amended employment agreement, the new CFO receives a base salary of $240,000 per year, is eligible for a discretionary bonus of up to 50% of base salary, and has a two-year initial term beginning March 16, 2026.
What to watch
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CFO Transition Risk
The board terminated Interim CFO Ian Rhodes effective August 11, 2026, while appointing a replacement CFO on the same date. The simultaneous transition creates execution and continuity risk in financial reporting and control oversight.
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New CFO Compensation Obligations
The new CFO's agreement provides a base salary of $240,000 per annum and severance equal to three months of base salary if terminated without Cause or for Good Reason, creating fixed compensation and potential severance obligations during the company's operating transition.
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IP Litigation Exposure Unchanged
The filing states that litigation may be necessary to defend the company and its customers or establish proprietary rights, and incorporates certain proceedings described in Note 9. The filing also states that there were no additional risk factors beyond those disclosed in the December 31, 2025 Form 10-K.
Management's outlook
No quantitative revenue or EPS outlook is provided in the extracted 10-Q. The filing states market-risk disclosure is "Not applicable" and does not provide an operating or liquidity outlook.
Earlier filings 4
10-K · April 29, 2026
Q/C Technologies (ticker: QCLS) continues its transition from a pharmaceutical company to a laser-based computing firm focused on proprietary technology development. The company faces challenges as it ventures into…
10-K · April 15, 2026
Q/C Technologies (ticker QCLS) has pivoted from a legacy pharmaceutical developer to a laser-based computing company centered on an exclusive global licensing arrangement with LightSolver and the acquisition of LPU…
10-Q · August 19, 2025
TNF Pharmaceuticals reported no product revenue for the quarter; net loss narrowed versus prior year with six‑month net loss of $2,920,938 and net loss attributable to common stockholders of $4,710,803 for the six…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.