10-K · April 21, 2026
Brag House (TBH) is an early-stage, single-segment social gaming platform focused on college gamers that completed an IPO (March 7, 2025) and a $15.0M PIPE in 2025 while pursuing a merger with House of Doge. The company…
Earnings analysis · 10-Q
TBH earnings analysis
Filed May 15, 2026 · Our reading of the company's report
The latest report
Brag House Holdings, Inc. reported stable revenues of $0 for the first quarter of 2026, maintaining a trend of significant operational losses. Operating expenses increased drastically to $1,886,049 driven mainly by…
Read full summary
Brag House Holdings, Inc. reported stable revenues of $0 for the first quarter of 2026, maintaining a trend of significant operational losses. Operating expenses increased drastically to $1,886,049 driven mainly by legal and professional fees, indicating ongoing challenges as the company navigates liquidity issues and merger complexities.
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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Continued Lack of Revenue
Revenue for Q1 2026 was $0, consistent with Q1 2025, reflecting no revenue-generating activities.
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Significant Increase in Expenses
Operating expenses surged to $1,886,049 in Q1 2026 from $584,470 in Q1 2025, mainly due to higher legal fees and marketing efforts.
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Reduction in Cash Balance
Cash and cash equivalents decreased to $138,130 from $222,572 at the end of 2025.
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Notable Decrease in Debt Expenses
Interest expenses decreased to $158,125 in Q1 2026, down from $438,709 in the same quarter last year.
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Increased Working Capital Deficit
Working capital declined to $3,558,539 in Q1 2026 from $5,321,908 at year-end.
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Partnership Positioning for Future Growth
Strategic partnership with Learfield aims to leverage college networks for future revenue, indicating potential growth.
What to watch
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Ongoing Operational Losses
The company reported a net loss of $1,532,905 for Q1 2026, higher than $1,067,673 in Q1 2025.
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Liquidity Challenges
The company faced significant cash outflows, with negative cash flows from operations of $842,434.
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Compliance with Nasdaq Listing Rules
Non-compliance with Nasdaq’s minimum bid requirement could lead to potential delisting risks.
Management's outlook
Management did not provide specific numeric guidance for future performance.
Earlier filings 4
10-K · March 31, 2026
Brag House describes a media‑tech strategy focused on casual college gamers and monetizing Gen Z advertising through a vertically integrated platform. The company completed a $15.0 million July 2025 PIPE and a $4.0…
10-Q · November 17, 2025
Brag House (TBH) reported a profitable quarter (three months ended September 30, 2025) driven largely by a $4,080,000 unrealized gain on an equity investment and financing activity, while operating business activity…
10-Q · August 15, 2025
Brag House (TBH) reported no revenue for Q2 2025 (Total Revenues $0) and a GAAP net loss per share of $(0.16) for the quarter (net loss $1,705,217; six months net loss $2,772,890). Cash improved to $1,548,645 at June…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.