GMEX Revenue Grows 7.9% but Net Loss Balloons to $19.2M as Gross Margin Collapses
GMEX sits 21% above its 52-week low of $0.75 on light trading volume (0.1× avg).
Summary
GMEX reported FY2026 revenue of $5.6 million, up 7.9%, with second-half revenue up 12.8% to $2.9 million — but the top line is still almost entirely legacy fitness equipment, not robotics. The bottom line is the story: net loss widened to $19.2 million from $0.68 million, driven by $12.1 million of net other expense including $5.8 million of digital-asset losses, a $10.7 million loss on derivative and stock issuance, and a $2.9 million debt-extinguishment loss. Gross margin fell to 8.6% from 39.3%, with a $1.7 million consignment-goods write-off doing most of the damage; excluding it, margin would have been 38.1%. Cash and marketable securities stood at $22.8 million at June 30, 2026, which is the cushion against the going-concern language in the 20-F filed minutes earlier and the heavy dilution from the early Class C conversion disclosed the same evening. The robotics pivot — Bon Vivant cooking systems, the vision sensor mount, the MediaMeta stake — has yet to produce meaningful revenue.
At the time of this announcement, GMEX was trading at $0.90 on NASDAQ in the Technology sector, with a market capitalization of approximately $662.6K. The 52-week trading range was $0.75 to $15,830.64. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.