10-Q · May 15, 2026
LQR House Inc. experienced a significant decline in revenue and gross profit in Q1 2026, reporting total revenues of $222,683, a drop of 48% from $429,340 in Q1 2025. Despite the large revenue contraction, the net loss…
Earnings analysis · 10-Q
YHC earnings analysis
Filed August 19, 2026 · Our reading of the company's report
The latest report
The extracted 10-Q does not include current-period income statement, balance-sheet, cash-flow, or segment financial results, so revenue, margin, EPS, and cash-flow trends cannot be assessed from the available filing…
Read full summary
The extracted 10-Q does not include current-period income statement, balance-sheet, cash-flow, or segment financial results, so revenue, margin, EPS, and cash-flow trends cannot be assessed from the available filing text. The principal development is the acquisition of 54% of Fusion Five, alongside $40,000,000 of fixed-rate acquisition debt and substantial stablecoin, regulatory, broker-concentration, and integration exposure. Sentiment is bearish because disclosure controls remain ineffective as of June 30, 2026 and the remaining 46% acquisition requires $59,800,000 of additional consideration, regulatory approvals, and financing.
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.
What stood out
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Control of Fusion Five Established
YHC acquired control of Fusion Five, reaching 54% ownership as of June 30, 2026, establishing entry into financial services and securities brokerage.
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Digital Asset Holdings Disclosed
The company reported $1,000,000 of own digital assets and $409,340 of client digital assets as of June 30, 2026, principally in USDT.
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Acquisition Debt Has Fixed Rate
Promissory notes issued in connection with the acquisition total $40,000,000 and carry a fixed 6.0% annual interest rate, limiting direct exposure to changes in required interest payments.
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Control Remediation Underway
Management is implementing additional qualified financial staffing, GAAP and SEC reporting training, and enhanced close-process review procedures to address previously identified control deficiencies.
What to watch
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Material Control Weaknesses Persist
Disclosure controls were not effective as of June 30, 2026 because of material weaknesses involving segregation of duties and insufficient accounting and financial reporting personnel. The company stated that these weaknesses have not yet been fully remediated.
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Remaining Acquisition Requires Financing
The remaining 46% of Fusion Five has an aggregate purchase price of $59,800,000 and remains subject to regulatory approvals and additional financing, creating execution and liquidity risk.
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Stablecoin and Custody Exposure
USDT exposure includes $1,000,000 of company-owned assets and $409,340 held for clients; the filing warns that a loss of the $1.00 peg or deterioration in the issuer's credit standing could adversely affect liquidity.
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Substantial Acquisition Indebtedness
The company issued $40,000,000 of promissory notes bearing 6.0% interest and maturing May 20, 2028; inability to service the notes could trigger default and materially harm results and financial condition.
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Single-Broker Dependence
Substantially all Fusion Five client securities transactions are executed through a single third-party broker, and Fusion Five does not hold a securities dealing license in each client-trading jurisdiction.
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Regulatory and FX Exposure
Fusion Five operates under New Zealand regulation and has the New Zealand dollar as its functional currency. Management states that a hypothetical 10% adverse NZD/USD movement would not currently be material, but exposure could increase as operations grow or additional closings occur.
Management's outlook
No quantitative revenue or EPS guidance was provided in the extracted 10-Q. The report does not provide a forward operating outlook; management refers to completing the Fusion Five control evaluation within the period permitted under applicable SEC rules.
Earlier filings 4
10-K · April 15, 2026
LQR House (LQR) positions itself as an integrated alcohol e‑commerce and marketing platform centered on its CWSpirits.com marketplace, supplemented by an in‑house tequila brand (SWOL) and marketing services. The 10‑K…
10-Q · November 14, 2025
LQR House reported Q3 2025 revenue of $337,288 (down from $498,528 in Q2 2025 and $624,464 in Q3 2024) with a small gross profit of $1,232 (≈0.4% margin). The quarter included a $13,000,000 legal settlement that drove a…
10-Q · August 12, 2025
LQR House (YHC) reported Q2 revenue of $498,528, down from $557,917 in Q2 2024, but returned to gross profitability with gross profit of $84,506 (vs. a gross loss of $(152,190) a year ago). The company remains…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.