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DarkHorse Technologies DRK

DarkHorse Technologies reported a net loss of $5.78 million

Form
10-Q
Filed
Importance
Notable
  1. Revenue: $3.03 million for the three months ended Sep 30, 2026
  2. Net loss: $5.78 million for the three months ended Sep 30, 2026
  3. Cash and equivalents: $8.82 million at Sep 30, 2026

Written from the 10-Q on EDGAR. AI can make mistakes. Check the filing.

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The reading, claim by claim

  1. The company reported $3,031 thousand in revenue for the quarter, with a net loss of $5,778 thousand.
  2. The company's balance sheet as of September 30, 2026, shows total assets of $25,572 thousand, with current assets totaling $12,559 thousand.
  3. Liabilities and shareholders' equity also totaled $25,572 thousand.
  4. The company had $8,823 thousand in cash and cash equivalents, and $3,263 thousand in Bitcoin.
  5. Shareholders' equity was $18,714 thousand, with common shares valued at $519,868 thousand.
  6. In its 10-Q for the quarter ended September 30, 2026, DarkHorse Technologies Inc. reported a net loss per share of $0.65 for the three months ended September 30, 2026.
  7. The company's shares used in computing net loss per share were 8,840,643.

7 of 8 claims matched the filing text.

Not found in the filing text

  • A separate report noted that for the quarter ended September 30, 2026, DarkHorse Technologies Inc. reported revenue of $3.0 million, a net loss of $5.8 million, and a revenue change of +15.6% from the previous year.

From the filing's financial data, not stated in its text

From this 10-Q's financial data (XBRL) for the quarter ended September 30, 2026

  • The filing includes condensed consolidated balance sheets, statements of operations, and shareholders' equity.
  • The report also noted a gross margin of -10.3% and an operating margin of -191.0% for the quarter.

From the filing

Item 1. Financial Statements.

DarkHorse Technologies Inc.

Condensed Consolidated Balance Sheets (in thousands of U.S. dollars, except shares) (unaudited)
September 30, 2026December 31, 2025
Assets
Current assets:
Cash and cash equivalents4$8,8234$3,707
Bitcoin4—43,2634
Accounts receivable351—
Notes receivable, net1,000—
Property and equipment held for sale1,615—
Other current assets7701,707
Total current assets212,55928,677
Property and equipment, net5,06814,608
Operating lease right-of-use assets1,302—
Goodwill3,396—
Intangible assets, net4491,610
Other non-current assets2,798225
Total assets2$25,5722$25,120
Liabilities, Temporary Equity, and Shareholders' Equity
Current liabilities:
Accounts payable$1,432$427
Accrued liabilities971544
Accrued payroll and employee compensation950831
Other current liabilities1,562—
Total current liabilities4,9151,802
Operating lease liabilities, net of current portion1,165—
Deferred tax liabilities760—
Total liabilities6,8401,802
Commitments and contingencies (Note 15)
Temporary equity:
Series H preferred shares, no par value, unlimited shares authorized, 161 shares issued and outstanding as of both September 30, 2026 and December 31, 20251818
Shareholders' equity:
Series I preferred shares, no par value, unlimited shares authorized, 1,387,117 and nil shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively2,677—
Common shares, no par value;5 unlimited shares authorized, 10,576,805 and 3,392,541 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively519,868503,414
Accumulated other comprehensive loss(1,815)(1,811)
Accumulated deficit(502,016)(478,303)
Total shareholders' equity518,714523,300
Total liabilities, temporary equity, and shareholders' equity3$25,5723$25,120

See accompanying notes to condensed consolidated financial statements.

DarkHorse Technologies Inc.

Condensed Consolidated Statements of Operations (in thousands of U.S. dollars, except share and per share amounts) (unaudited)

Three Months

Ended September 30, Nine MonthsEnded September 30,
2026202520262025
Revenues1$3,0311$2,623$7,399$8,458
Operating costs and expenses:
Cost of revenue (exclusive of depreciation and amortization shown below)3,3441,9577,2346,452
General and administrative3,2881,48510,5706,780
Depreciation and amortization6081,7243,0724,997
Impairment of property and equipment—5007,039500
Loss on disposal of property and equipment1,1797931,4201,652
Impairment of intangible assets199—787—
Provision for loss on other assets406300406300
Change in fair value of Bitcoin(203)(101)613(373)
Total operating costs and expenses8,8216,65831,14120,308
Loss from operations(5,790)(4,035)(23,742)(11,850)
Other income (expense):
Investment gain (loss)(10)(220)(10)439
Other income, net2274247
Net loss before taxes(5,778)(4,248)(23,710)(11,364)
Provision for income taxes——32
Net loss1$(5,778)1$(4,248)$(23,713)$(11,366)
Net loss per share:6
Basic6$(0.65)6$(1.49)$(4.05)$(4.08)
Diluted$(0.65)$(1.49)$(4.05)$(4.08)
Shares used in computing net loss per share:7
Basic78,840,64372,855,3605,848,8942,783,583
Diluted8,840,6432,855,3605,848,8942,783,583

See accompanying notes to condensed consolidated financial statements.

DarkHorse Technologies Inc.

Condensed Consolidated Statements of Comprehensive Loss (in thousands of U.S. dollars) (unaudited)

Three Months

Ended September 30, Nine MonthsEnded September 30,
2026202520262025
Net loss$(5,778)$(4,248)$(23,713)$(11,366)
Other comprehensive income (loss):
Foreign currency translation adjustment(6)(2)(4)12
Total other comprehensive income (loss)(6)(2)(4)12
Comprehensive loss$(5,784)$(4,250)$(23,717)$(11,354)

See accompanying notes to condensed consolidated financial statements.

DarkHorse Technologies Inc.

Condensed Consolidated Statements of Shareholders' Equity (in thousands of U.S. dollars, except shares) (unaudited)

Preferred Shares Common Shares Accumulated

Other

Comprehensive

Loss Accumulated

Deficit Total

Shareholders'

Equity

Shares Amount Shares Amount

Balance at January 1, 2026 — $ — 3,392,541 $ 503,414 $ ( 1,811 ) $ ( 478,303 ) $ 23,300

Issuance of common shares for reverse stock split fractional shares — — 38,263 — — — —

Issuance of common shares, net — — 256,142 415 — — 415 Issuance of common shares for settlement of liabilities — — 45,532 61 — — 61

Issuance of common shares for vested restricted stock units — — 34,608 — — — —

Share-based compensation — — — 325 — — 325 Net loss — — — — — ( 4,106 ) ( 4,106 ) Balance at March 31, 2026 — — 3,767,086 504,215 ( 1,811 ) ( 482,409 ) 19,995 Issuance of equity instruments for acquisition 1,387,117 2,677 2,405,300 4,666 — — 7,343 Issuance of common shares, net — — 892,582 2,065 — — 2,065 Issuance of common shares for vested restricted stock units — — 485,054 231 — — 231 Issuance of common shares for settlement of liabilities — — 89,871 171 — — 171 Share-based compensation — — — 897 — — 897 Other comprehensive income — — — — 2 — 2 Net loss — — — — — ( 13,829 ) ( 13,829 ) Balance at June 30, 2026 1,387,117 2,677 7,639,893 512,245 ( 1,809 ) ( 496,238 ) 16,875 Issuance of common shares and warrants, net — — 2,577,935 6,450 — — 6,450

Issuance of common shares for vested restricted stock units, net of shares withheld for income taxes — — 199,570 — — — —

Issuance of common shares for settlement of liabilities — — 159,407 176 — — 176 Share-based compensation — — — 997 — — 997 Other comprehensive loss — — — — ( 6 ) — ( 6 ) Net loss — — — — — ( 5,778 ) ( 5,778 ) Balance at September 30, 2026 1,387,117 $ 2,677 10,576,805 $ 519,8685 $ ( 1,815 ) $ ( 502,016 ) $ 18,714

DarkHorse Technologies Inc.

Condensed Consolidated Statements of Shareholders' Equity (continued) (in thousands of U.S. dollars,

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Data on this page was fetched . The filing on SEC.gov is the record.