10-Q · March 16, 2026
Rafael Holdings reported Q2 revenue of $211,000 and GAAP loss per share of $(0.13). Revenue improved materially year-over-year but the company continues to burn cash and report sizable operating losses as it ramps…
Earnings analysis · 10-Q
RFL earnings analysis
Filed June 11, 2026 · Our reading of the company's report
The latest report
Rafael Holdings reported Q2 2026 revenue of $211,000, reflecting a decrease from the previous quarter. Despite a continued net loss, diluted EPS loss narrowed from -$0.19 to -$0.13, indicating slight operational…
Read full summary
Rafael Holdings reported Q2 2026 revenue of $211,000, reflecting a decrease from the previous quarter. Despite a continued net loss, diluted EPS loss narrowed from -$0.19 to -$0.13, indicating slight operational improvements. Management anticipates submitting an NDA for Trappsol® Cyclo™ in the second half of 2026.
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
- $-0.13
- Segment
- Healthcare
- Segment
- Infusion Technology
- Segment
- Real Estate
What stood out
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Improved EPS Loss
Diluted EPS loss improved from -$0.19 in Q1 2026 to -$0.13 in Q2 2026.
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Decrease in Operating Loss
Operating loss decreased from -$6.87 million in Q1 2026 to -$6.80 million in Q2 2026.
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NDA Submission Anticipated
Management expects to submit an NDA for Trappsol® Cyclo™ in the second half of 2026.
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Healthcare Segment Revenue Increase
Healthcare segment product revenue increased from $243,000 in the prior year to $368,000 in the nine months ended April 30, 2026.
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Cash Position Remains Strong
Company holds $30.5 million in cash and cash equivalents as of April 30, 2026, adequate for 12 months.
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Decreased General and Administrative Expenses
General and administrative expenses decreased 33% to $2.08 million for the quarter compared to Q2 2025.
What to watch
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Increased Financial Losses
Consolidated net loss worsened from -$4.78 million in Q2 2025 to -$4.23 million in Q2 2026.
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Regulatory Approval Risks
Regulatory risks associated with the upcoming NDA submission for Trappsol® Cyclo™.
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Liquidity Concerns
Cash and cash equivalents decreased by 42%, from $52.77 million in Q1 2025 to $30.50 million in Q2 2026.
Management's outlook
Management anticipates NDA submission for Trappsol® Cyclo™ in the second half of 2026.
Earlier filings 4
10-Q · December 12, 2025
Rafael Holdings reported total revenue of $240,000 for the three months ended October 31, 2025, up from $128,000 in the prior-year quarter, while operating loss widened to $10.141 million and consolidated net loss was…
10-K · October 29, 2025
Rafael Holdings’ 10-K (filed 2025-10-29 for the year ended July 31, 2025) positions the company as a biotechnology holding company focused on advancing Trappsol® Cyclo™ through a pivotal Phase 3 program (TransportNPC™)…
10-Q · June 11, 2025
Rafael reported quarterly revenue of $362,000 and EPS of $(0.19). Revenue rose sharply versus the prior quarter ($77,000) driven by $243,000 of new product revenue and improved gross margin (89.0%), while the company…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.