10-K · May 15, 2026
RenovoRx's 10-K filing for the year ending December 31, 2025, indicates ongoing financial struggles, with revenues of $238,000 down 44.8% year-over-year and notable net losses. Despite these challenges, the company is…
Earnings analysis · 10-Q
RNXT earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
RenovoRx delivered a strong Q2 2026 operating trend, with revenue of $909,000 rising 115.4% year over year and 61.5% sequentially, while non-GAAP EPS of $(0.05) exceeded the $(0.08) consensus estimate. Gross margin…
Read full summary
RenovoRx delivered a strong Q2 2026 operating trend, with revenue of $909,000 rising 115.4% year over year and 61.5% sequentially, while non-GAAP EPS of $(0.05) exceeded the $(0.08) consensus estimate. Gross margin remained approximately 84%, commercial centers reached 21, and full-year revenue guidance was raised to $3.75 million-$4.25 million. However, the company remains loss-making, targets break-even only in Q4 2027, and faces material Nasdaq listing, funding, clinical, and regulatory risks.
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
- $-0.05
- Gross margin
- 84%
What stood out
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Revenue growth accelerated
Q2 2026 revenue was $909,000, up 115.4% from $422,000 in Q2 2025 and 61.5% from $563,000 in Q1 2026.
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EPS beat and improved
Non-GAAP EPS was $(0.05), improving from $(0.08) in Q2 2025 and $(0.09) in Q1 2026, and beating the $(0.08) consensus estimate.
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Gross margin remained strong
Gross margin was approximately 84%, versus 64.0% in Q2 2025 and 85.1% in Q1 2026, remaining near the prior-quarter level.
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Commercial adoption expanded
Active commercial cancer centers increased to 21, supporting the expansion of RenovoCath standalone commercialization.
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Revenue outlook raised
Full-year 2026 revenue guidance increased to $3.75 million-$4.25 million from $3.0 million-$4.0 million previously.
What to watch
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Nasdaq minimum bid-price risk
Nasdaq granted a second 180-calendar-day compliance period through December 28, 2026 after the company failed to regain the $1.00 minimum bid price requirement following 32 consecutive trading days of noncompliance. Failure to regain compliance could result in delisting and may require a reverse stock split.
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Extended losses and cash burn
The company states that it has incurred significant net losses in each period since inception and expects losses to continue until FDA approval or RenovoCath revenue is sufficient; management targets cash-flow break-even only in Q4 2027 at an approximately $5 million quarterly revenue run-rate.
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Clinical and regulatory uncertainty
The company has no drug/device combination products approved for commercial sale, while its ongoing Phase III TIGeR-PaC study remains central to development and regulatory progress. Negative results or failure to obtain approval could materially harm the business.
Management's outlook
Full-year 2026 revenue guidance was raised to $3.75 million-$4.25 million from $3.0 million-$4.0 million previously. Management expects Q3 2026 revenue to exceed $909,000 and targets cash-flow break-even in Q4 2027 at an approximately $5 million quarterly revenue run-rate.
Earlier filings 4
10-Q · May 14, 2026
RenovoRx's Q4 2025 results reveal a significant decline in revenue, which totaled $238,000, down 10.5% from the previous quarter and 44.8% year-over-year. The company reported an unchanged diluted EPS of -$0.08,…
10-K · March 30, 2026
RenovoRx is transitioning from a clinical-stage company to a commercial-stage company: the 10-K reports $1.1 million in RenovoCath sales for the year ended December 31, 2025 and expanding commercial traction (12 U.S.…
10-Q · November 13, 2025
RenovoRx reported Q3 2025 revenue of $266,000 and GAAP net loss per share of $(0.08). Gross profit was $213,000 (80.1% gross margin) but operating loss remained large at $(3,200,000). Cash increased to $10.044 million…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.