SL Science Posts H1 2026: Revenue Up 23%, Net Loss Widens to $2.16M

summarizeSummary

SL Science's first half-year report shows 23% revenue growth and a 40.2% gross margin, offset by a wider $2.16 million net loss and a business still years from clinical-stage cell therapy revenue.

check_boxKey Events · Earnings and Guidance · SLBT

• H1 Revenue Up 23% to $1.39M

  Net revenue rose 22.8% to $1,386,608 from $1,129,238, driven by the shift to B2B wholesale distribution in Taiwan; gross margin expanded to 40.2% from 34.5%.

• Net Loss Widens to $2.16M

  Net loss was $2,162,205 versus $1,602,089 a year earlier, as R&D expenses jumped 71.5% to $1,229,998 and G&A rose 16.2% to $1,489,663.

• Liquidity: $8.3M Cash, $6.7M Working Capital

  Cash and equivalents stood at $8,306,692 at June 30, 2026 versus $1,258,616 at December 31, 2025, after $9.15 million of net financing inflows; operating activities used $2,091,682.

• Recurring Losses Flagged

  Management states the group has recurring net losses and negative operating cash flow and will need debt financing and shareholder loans; it believes current funding covers at least twelve months.

auto_awesomeAnalysis · SLBT · Life Sciences

This is the first half-year report since the June 2026 Nasdaq listing. Revenue grew 22.8% to $1.39 million and gross margin jumped to 40.2% as the Taiwan business shifted to B2B wholesale distribution. However, R&D spending rose 71.5% to $1.23 million and the net loss widened to $2.16 million. The $8.3 million cash pile and $6.7 million of working capital fund roughly a year of operations, yet management explicitly flags recurring losses and negative operating cash flow and says it will need debt and shareholder loans. The company remains pre-clinical on both cell-therapy programs, with no FDA clearance, IND, or Phase I trial completed for CD-19 or GDT. The 85 million-share incentive plan (15.15% of shares outstanding) approved in September is a further overhang.