RFL earnings analysis
What we found in RFL's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Improved EPS Loss
- Diluted EPS loss improved from -$0.19 in Q1 2026 to -$0.13 in Q2 2026.
- Decrease in Operating Loss
- Operating loss decreased from -$6.87 million in Q1 2026 to -$6.80 million in Q2 2026.
- NDA Submission Anticipated
- Management expects to submit an NDA for Trappsol® Cyclo™ in the second half of 2026.
- 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.
- Cash Position Remains Strong
- Company holds $30.5 million in cash and cash equivalents as of April 30, 2026, adequate for 12 months.
- Decreased General and Administrative Expenses
- General and administrative expenses decreased 33% to $2.08 million for the quarter compared to Q2 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Financial Losses
- Consolidated net loss worsened from -$4.78 million in Q2 2025 to -$4.23 million in Q2 2026.
- Regulatory Approval Risks
- Regulatory risks associated with the upcoming NDA submission for Trappsol® Cyclo™.
- Liquidity Concerns
- Cash and cash equivalents decreased by 42%, from $52.77 million in Q1 2025 to $30.50 million in Q2 2026.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.13
- Segment
- Healthcare
- Segment
- Infusion Technology
- Segment
- Real Estate
What they said about what is next.
Management anticipates NDA submission for Trappsol® Cyclo™ in the second half of 2026.
The filing reads about the same as the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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