20/20 BioLabs Reports First Quarter 2026 Financial Results and Recent Operational Progress
Rhea-AI Summary
20/20 BioLabs (Nasdaq:AIDX) reported Q1 2026 revenue of $0.4 million, down from $0.6 million in Q1 2025, with gross margin of 17.8% and net loss of $2.2 million.
Cash rose to $4.2 million after a $5.0 million private placement. State-funded firefighter cancer screening programs, new licensing and distribution agreements, and the launch of OneTest™ for Longevity are expected to drive revenue growth from Q2 2026. The company listed on Nasdaq on February 19, 2026, and holds a preferred equity facility of up to $40.0 million, subject to conditions.
Positive
- Cash and cash equivalents increased to $4.2 million from $1.0 million
- $5.0 million private placement with facility allowing up to $40.0 million total capital
- Deferred revenue rose to approximately $0.5 million from $0.4 million
- Second state firefighter cancer screening program intends to use MCED test
- Evexia Diagnostics deal provides access to over 40,000 healthcare practitioners
- Exclusive U.S. CKD prediction license from ROKIT Healthcare and Longevity test launch
Negative
- Q1 2026 revenue declined to $0.4 million from $0.6 million year over year
- Gross margin fell to 17.8% from 29.9% due to mix and fixed cost absorption
- Operating expenses increased to $1.5 million from $0.9 million
- Net loss widened to $2.2 million from $0.8 million
- Total other expense, net, was $0.7 million versus prior-year net income
- $0.3 million interest expense and non-cash losses on convertible notes and warrants
News Market Reaction – AIDX
In the May 21 session, AIDX declined 6.59%, reflecting a notable negative market reaction. Argus tracked a trough of -5.4% from its starting point during tracking. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 31 | Full-year results | Positive | +0.0% | Reported FY2025 revenue growth, margin expansion, and improved net loss. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
The company’s most recent earnings-related release on Mar 31, 2026 highlighted FY2025 revenue of $2.0M, margin expansion, lower operating expenses, and an improved net loss, alongside a $5.0M private placement and the Nasdaq listing. That event produced a roughly flat 0% next-day move, indicating that prior earnings news did not immediately shift trading. Today’s Q1 2026 report, with lower revenue and wider loss, follows that stronger FY2025 baseline.
Key Terms
multi-cancer early detection medical
circulating tumor DNA medical
convertible notes financial
warrant liabilities financial
series e convertible preferred stock financial
medicare reimbursement regulatory
nasdaq capital market financial
gross margin financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
State-Funded Firefighter Cancer Screening Programs Expected to Drive Meaningful Revenue Growth Beginning in Q2 2026
Recent Strategic Wins Include Evexia Diagnostics Distribution Agreement, ROKIT Healthcare CKD License, and Commercial Launch of OneTest™ for Longevity
GAITHERSBURG, Md., May 20, 2026 (GLOBE NEWSWIRE) -- 20/20 BioLabs, Inc. (Nasdaq: AIDX) (“20/20” or the “Company”), an early market entrant in AI powered laboratory-based blood tests for the early detection and prevention of cancers and chronic diseases, reported its financial and operational results for the first quarter ended March 31, 2026.
First Quarter & Subsequent 2026 Operational Highlights
- Revenue of
$0.4 million for Q1 2026, as compared to$0.6 million for Q1 2025. The decline was primarily due to the timing of orders from several larger customers in Q1 2026 that have ordered, or are expected to order, in Q2 or Q3 of 2026. - Q2 revenue is expected to benefit from Maryland fire departments seeking the Company’s OneTest™ Multi-Cancer Early Detection (“MCED”) blood test through Maryland’s state-funded firefighter cancer screening grant program.
- Deferred revenue increased to approximately
$0.5 million as of March 31, 2026, compared to$0.4 million as of December 31, 2025, providing additional visibility into upcoming revenue recognition. - Cash and cash equivalents totaled
$4.2 million as of March 31, 2026, compared to$1.0 million as of December 31, 2025, reflecting net proceeds from the Company’s recent capital raises. - Subsequent to quarter-end, the Company received notice that a second state firefighter cancer screening program comparable in size to the Maryland program intends to use the Company’s MCED test. If completed as expected, the program is anticipated to contribute meaningfully to revenue in future periods. Additional details are expected to be announced in the near term.
- Commenced trading on the Nasdaq Capital Market under the ticker symbol “AIDX” on February 19, 2026, marking 20/20’s transition to a publicly listed company.
- Completed a
$5.0 million private placement on February 19, 2026, under a preferred purchase agreement pursuant to which up to$40.0 million in capital may be raised in multiple tranches, subject to 20/20 meeting certain conditions. - Entered into an exclusive U.S. license agreement with ROKIT Healthcare to integrate advanced chronic kidney disease (“CKD”) prediction technology into the Company’s Longevity Test Program.
- Launched OneTest™ for Longevity, a chronic disease risk assessment and management solution built with IBM¹ watsonx.ai capabilities, expanding the Company’s product portfolio beyond multi-cancer detection.
- Provided an update on the Company’s patented protein tumor marker based, machine learning derived MCED methodology in support of recent studies suggesting the expected value of this approach for earlier-stage detection compared to stand-alone circulating tumor DNA based MCEDs.
- Subsequent to quarter-end, on April 7, 2026, 20/20 was selected by Evexia Diagnostics to offer OneTest™ for Cancer through Evexia’s national network of over 40,000 healthcare practitioners.
- The Medicare Multi-Cancer Early Detection Screening Act was signed into law on February 3, 2026, creating a pathway for Medicare reimbursement for MCEDs by 2028.
¹IBM is acting as an information technology provider only. IBM does not purport to be engaged in the practice of medicine or any other professional clinical or licensed activity. IBM’s offerings are not designed or intended to constitute protocols for delivering medical care; a substitute for professional medical advice, diagnosis, treatment or judgment; a drug, drug-adjunct technology, or drug development tool subject to quality system requirements; or medical device as defined under the laws of any jurisdiction.
Management Commentary
Chief Executive Officer Jonathan Cohen commented, “The first quarter of 2026 was a transformational period for 20/20, marked by our direct listing on the Nasdaq Capital Market, a
“We are also executing a clear strategy to broaden distribution and product reach. In April, we were selected by Evexia Diagnostics to offer OneTest™ for Cancer through Evexia’s national network of healthcare practitioners. In the first quarter, we launched OneTest™ for Longevity, our chronic disease risk assessment solution built with IBM¹ watsonx.ai capabilities. We are now in discussions with ROKIT Healthcare of Korea about extending the Longevity test platform across East Asia under our recently announced license agreement integrating their CKD prediction technology.”
“With the Medicare Multi-Cancer Early Detection Screening Act now signed into law, we believe a clear federal pathway is emerging for MCED reimbursement beginning in 2028. We plan to seek Medicare coverage for OneTest™ for Cancer, supported in part by outcome data from having screened over 25,000 firefighters to date. We believe Medicare coverage would significantly expand access to OneTest™ for Cancer and substantially increase the Company’s addressable market in the United States. Our improved capital position, expanding product portfolio, and growing list of public- and private-sector customers position 20/20 for what we expect to be a year of significant revenue growth and operational progress,” concluded Cohen.
Chief Financial Alan Bergman added, “While first quarter revenue of
First Quarter 2026 Financial Results
Total revenue for the three months ended March 31, 2026 was
Total cost of revenue for the three months ended March 31, 2026 was
Gross profit for the three months ended March 31, 2026 was
Total operating expenses for the three months ended March 31, 2026 were
Total other expense, net was
Net loss for the three months ended March 31, 2026 was
Cash and cash equivalents totaled
About 20/20 BioLabs
20/20 BioLabs, Inc. (Nasdaq: AIDX) develops and commercializes AI-powered, laboratory-based blood tests for the early detection and prevention of cancers and chronic diseases. The Company offers two families of lab tests under the OneTest brand. OneTest™ for Cancer is a multi-cancer early detection (MCED) blood test, and OneTest for Longevity™ measures inflammatory biomarkers and is now commercially available. OneTest’s affordable, accurate, accessible tests can be conveniently utilized at home using new, upper-arm capillary collection devices that avoid painful needles. Tests are run in the Company’s College of American Pathologists (CAP) accredited, Clinical Laboratory Improvement Amendments (CLIA) licensed laboratory in Gaithersburg, MD.
For more information visit https://2020biolabs.com.
Forward-Looking Statements
Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that it believes may affect its financial condition, results of operations, business strategy, and financial needs. Forward-looking statements can be identified by words such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project,” “continue,” or the negative of these terms or other comparable expressions. Actual results may differ materially from those expressed or implied by such forward-looking statements. A number of factors could cause actual results to differ materially from those contained in these forward-looking statements, including, but not limited to, the risks described in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K, as well as in our other reports filed or furnished from time to time with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events, except as required by applicable law. Although the Company believes the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee future results, and investors are cautioned that actual outcomes may differ materially from those anticipated.
Investor Relations
Chris Tyson
MZ Group
Direct: 949-491-8235
AIDX@mzgroup.us
| 20/20 BIOLABS, INC. CONDENSED BALANCE SHEETS (UNAUDITED) | ||||||||
| March 31, 2026 | December 31, 2025 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 4,219,099 | $ | 1,025,987 | ||||
| Accounts receivable, net | 201,481 | 199,954 | ||||||
| Inventory | 104,523 | 116,217 | ||||||
| Prepaid expenses and other current assets | 175,174 | 128,975 | ||||||
| Total current assets | 4,700,277 | 1,471,133 | ||||||
| License agreement, net | 265,518 | 271,143 | ||||||
| Property and equipment, net | 45,187 | 56,677 | ||||||
| Intangible asset, net | 206,801 | 202,264 | ||||||
| Right-of-use assets, net | 562,507 | 605,289 | ||||||
| Deferred financing costs | - | 1,507,794 | ||||||
| Other assets | 23,057 | 23,057 | ||||||
| Total assets | $ | 5,803,347 | $ | 4,137,357 | ||||
| Liabilities and Stockholders’ equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 980,486 | $ | 868,545 | ||||
| Accrued liabilities | 598,335 | 785,784 | ||||||
| Accrued dividends — Series E convertible preferred stock | 54,192 | - | ||||||
| Deferred revenue | 450,667 | 414,871 | ||||||
| Derivative liability – current | - | 143,382 | ||||||
| Convertible note | 306,716 | 74,611 | ||||||
| Operating lease liability – current | 189,649 | 175,948 | ||||||
| Total current liabilities | 2,580,045 | 2,463,141 | ||||||
| Long-term liabilities: | ||||||||
| Convertible notes payable, net | - | 619,355 | ||||||
| Deferred revenue – long-term | 37,055 | 41,816 | ||||||
| Derivative liabilities – long-term | - | 543,545 | ||||||
| Operating lease liability – long term | 429,122 | 488,725 | ||||||
| Total long-term liabilities | 466,177 | 1,693,441 | ||||||
| Total liabilities | 3,046,222 | 4,156,582 | ||||||
| Commitments and contingencies (Note 9) | - | |||||||
| Contingently redeemable convertible preferred stock: | ||||||||
| Series E convertible preferred stock, | 204,239 | - | ||||||
| Stockholders’ equity (deficit): | ||||||||
| Series D preferred stock, | - | 1,016 | ||||||
| Series C preferred stock, | - | 12,040 | ||||||
| Series B preferred stock, | - | 14,715 | ||||||
| Series A-2 preferred stock, | - | 4,424 | ||||||
| Series A-1 preferred stock, | - | 6,515 | ||||||
| Series A preferred stock, | - | 8,464 | ||||||
| Common stock, | 104,430 | 54,422 | ||||||
| Additional paid-in capital | 37,870,511 | 33,126,398 | ||||||
| Accumulated deficit | (35,422,055 | ) | (33,247,219 | ) | ||||
| Total stockholders’ (deficit) equity | 2,552,886 | (19,225 | ) | |||||
| Total liabilities, contingently redeemable preferred stock and stockholders’ equity | $ | 5,803,347 | $ | 4,137,357 | ||||
| 20/20 BIOLABS, INC. CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Revenues | $ | 353,375 | $ | 553,820 | ||||
| Cost of revenues | 290,491 | 388,025 | ||||||
| Gross profit | 62,884 | 165,795 | ||||||
| Operating expenses: | ||||||||
| Sales, general and administrative | 1,352,758 | 801,144 | ||||||
| Research and development | 153,482 | 136,831 | ||||||
| Total operating expenses | 1,506,240 | 937,975 | ||||||
| Operating loss | (1,443,356 | ) | (772,180 | ) | ||||
| Other (expense) income: | ||||||||
| Interest expense | (267,008 | ) | (740 | ) | ||||
| Interest income | 6,653 | 8,458 | ||||||
| Loss on change in fair value of warrant liability | (148,766 | ) | - | |||||
| Loss on issuance of convertible note | (322,359 | ) | - | |||||
| Other expense, net | - | (115 | ) | |||||
| Total other (expense) income | (731,480 | ) | 7,603 | |||||
| Provision for income taxes | - | - | ||||||
| Net loss | (2,174,836 | ) | (764,577 | ) | ||||
| Dividend on preferred stock | 54,192 | - | ||||||
| Net loss attributable to common stockholders | $ | (2,120,644 | ) | $ | (764,577 | ) | ||
| Basic and diluted net loss per common share | $ | (0.28 | ) | $ | (0.16 | ) | ||
| Weighted-average common shares outstanding, basic and diluted | 7,657,229 | 4,823,125 | ||||||
| 20/20 BIOLABS, INC. CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net loss | $ | (2,174,836 | ) | $ | (764,577 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 12,306 | 17,825 | ||||||
| Stock based compensation | 128,440 | 129,650 | ||||||
| Amortization of license fees | 5,625 | 5,625 | ||||||
| Amortization of right-of-use assets, net of liabilities | (3,120 | ) | (1,838 | ) | ||||
| Amortization of debt discount | 240,370 | - | ||||||
| Issuance of shares for services | 100,000 | - | ||||||
| Change in fair value of derivative liability | 148,766 | - | ||||||
| Loss on issuance of convertible note | 322,359 | - | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | (1,527 | ) | 5,610 | |||||
| Inventory | 11,694 | (20,866 | ) | |||||
| Prepaid expenses and other assets | (46,199 | ) | (64,259 | ) | ||||
| Accounts payable | 111,941 | 111,092 | ||||||
| Accrued liabilities | (202,448 | ) | 129,413 | |||||
| Interest payable | 26,634 | 740 | ||||||
| Deferred revenue | 31,035 | (36,708 | ) | |||||
| Net cash used in operating activities | (1,288,960 | ) | (488,293 | ) | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Purchases of intangible assets, including patents | (5,354 | ) | - | |||||
| Net cash used in investing activities | (5,354 | ) | - | |||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Proceeds from issuance of convertible notes payable | 250,000 | 70,000 | ||||||
| Proceeds from issuance of Series D preferred stock | - | 192,338 | ||||||
| Proceeds from issuance of Series E preferred stock | 5,000,000 | - | ||||||
| Offering costs | (762,574 | ) | - | |||||
| Net cash provided by financing activities | 4,487,426 | 262,338 | ||||||
| Increase (decrease) in cash and cash equivalents | 3,193,112 | (225,955 | ) | |||||
| Cash and cash equivalents, beginning of year | 1,025,987 | 1,784,009 | ||||||
| Cash and cash equivalents, end of year | $ | 4,219,099 | $ | 1,558,054 | ||||
| Supplemental disclosures of cash flow information: | ||||||||
| Cash paid for interest | $ | - | $ | - | ||||
| Cash paid for income taxes | $ | - | $ | - | ||||
| Non-cash disclosures of cash flow information: | ||||||||
| Conversion of preferred stock to common stock | $ | 47,174 | $ | - | ||||
| Deferred offering costs – issuance of common stock and warrants as offering costs | $ | 3,654,057 | $ | - | ||||
| Accrued dividends on Series E preferred stock | $ | 54,192 | $ | - | ||||
| Derivative liabilities recognized as debt discounts | $ | 541,199 | $ | - | ||||
| Derivative liabilities reclassified to equity | $ | 1,361,306 | $ | - | ||||
| Conversion of convertible notes payable and accrued interest to common stock | $ | 834,812 | $ | - | ||||
