20/20 BioLabs Reports Second Quarter 2026 Financial Results and Recent Operational Progress, as Cancer Test Revenue Reaches Record Quarterly Level
Rhea-AI Summary
20/20 BioLabs (Nasdaq: AIDX) reported Q2 2026 revenue of $0.7 million, up 36.5% year over year, with OneTest™ cancer and longevity tests contributing 95.3% of sales and growing 47.1% to $0.7 million. Gross profit rose 86.6% to $0.3 million, expanding gross margin to 41.7% from 30.5% on improved lab utilization.
The company highlighted expanding firefighter, occupational health, military and physician markets, including Vermont and Maryland firefighter screening programs expected to generate more than $1.0 million of revenue and support a target of over 35,000 firefighters tested by year-end 2026. Cash and equivalents increased to $4.5 million from $1.0 million at year-end 2025, aided by $6.0 million of Series E preferred stock proceeds and the exchange of all secured convertible notes into Series E shares, eliminating convertible note debt. Q2 net loss was $1.5 million, and first-half 2026 revenue was flat at $1.1 million versus the prior year while operating expenses rose due to Nasdaq listing and product development costs.
Positive
- Q2 2026 revenue increased 36.5% year over year to $0.7 million
- OneTest™ revenue grew 47.1% year over year to $0.7 million, 95.3% of sales
- Gross profit up 86.6% to $0.3 million; margin improved to 41.7%
- Firefighter programs expected to generate more than $1.0 million revenue through end of 2026
- Cash balance rose to $4.5 million from $1.0 million at year-end 2025
- Convertible note debt fully eliminated via exchange into 583 Series E preferred shares
Negative
- Q2 2026 net loss widened to $1.5 million from $0.8 million
- First-half 2026 net loss increased to $3.7 million from $1.6 million
- Operating expenses rose to $1.5 million in Q2 from $1.0 million year over year
- Interest expense in Q2 jumped to $272,245 from $935
- Preferred-related charges included $1.1 million deemed dividend and $0.2 million preferred dividends in first half 2026
News Explained
As of June 30, the company had a larger common-share base, while Series E conversion exposure remained temporarily restricted rather than eliminated.
As of
Issuing additional shares increases the total share count and reduces an existing holder's percentage ownership absent offsetting changes, so the larger reported common-share base is the ownership-relevant change, while the standstill temporarily limits one conversion route.
The company had raised
At
Sources and calculations
- 20/20 BioLabs second-quarter 2026 financial results release (2026-08-17)
- Dilution definition (2026-07-17)
- AIDX Q2 2026 fundamentals record (2026-06-30)
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $4,546,140 / ($605,460 / 90) = [object Object]
Market reaction after Q2 2026 earnings report: AIDX -4.15%
Following this news, AIDX has declined 4.15%, reflecting a moderate negative market reaction. Argus tracked a peak move of +1.3% during the session. Our momentum scanner has triggered 3 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $0.53. Trading volume is exceptionally heavy at 48.1x the average, suggesting significant selling pressure.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 20 | Q1 earnings report | Negative | -6.6% | Revenue declined while gross margin compressed and net loss widened. |
| Mar 31 | FY2025 earnings report | Positive | +0.0% | Revenue and gross profit increased while operating expenses and net loss improved. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-matched earnings events produced an average 24-hour move of -3.29%, with one negative reaction and one flat reaction.
Key Terms
multi-cancer early detection medical
machine learning technical
clia regulatory
convertible preferred stock financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Best Quarter of Flagship Multi-Cancer Early Detection Testing; OneTest™ Revenue Increased
Company Expands OneTest™ Across Firefighter, Occupational Health, Military, and Physician Practice Markets
Cash Position Strengthened to
GAITHERSBURG, Md., Aug. 17, 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 second quarter ended June 30, 2026.
Second Quarter & Subsequent 2026 Operational Highlights
- Total revenue increased
36.5% to$0.7 million for Q2 2026, as compared to$0.5 million for Q2 2025, with OneTest™ accounting for95.3% of total revenue in the quarter, up from88.4% in the prior year period. - Revenue from the Company’s OneTest™ family of blood tests, led by OneTest™ for Cancer, its Multi-Cancer Early Detection (“MCED”) blood test, increased
47.1% to$0.7 million for Q2 2026, as compared to$0.5 million for Q2 2025. The Company believes Q2 2026 represented its strongest quarter of MCED testing. - Gross profit increased
86.6% to$0.3 million for Q2 2026, as compared to$0.2 million for Q2 2025, while gross margin expanded to41.7% from30.5% , reflecting improved absorption of fixed laboratory costs across a higher volume of OneTest™ tests. - State-funded firefighter cancer screening programs continued to gain momentum. In May, the State of Vermont selected OneTest™ for a 12-month statewide initiative to screen up to 4,500 firefighters, while Maryland fire departments were awarded
$520,000 for OneTest™ cancer screenings. The Company expects these programs to generate more than$1.0 million of revenue through the end of 2026. - The Company expects to have tested more than 35,000 firefighters by the end of 2026, building a body of real-world evidence intended to support its regulatory and reimbursement strategy.
- Received orders from 29 new accounts during the second quarter, including occupational and preventive health companies, fire departments and primary care physician practices. Growth has continued into the third quarter across fire department, occupational health, military service and physician practice markets.
- Executed a purchase agreement with the TF – 7294 Foundation that expands access to OneTest™ for Cancer within the U.S. Intelligence Community.
- Received a first commercial order from BodyMetRX, extending the OneTest™ for Cancer footprint into the health optimization and wellness market.
- Maintained strong repeat business from existing customers, with Clayton County, Georgia beginning its seventh year of OneTest™ for Cancer screening, and continued to grow its enterprise pipeline entering the second half of 2026.
- Launched a three-month retail pilot with Giant Food for OneTest for Longevity™, making the Company’s inflammatory and cardiometabolic biomarker testing available through participating Giant Food stores via pharmacy-based blood collection and at-home self-collection kits.
- Cash and cash equivalents totaled
$4.5 million as of June 30, 2026, compared to$1.0 million as of December 31, 2025. - Issued an additional 1,000 shares of Series E convertible preferred stock on June 16, 2026 for gross proceeds of
$1.0 million , bringing total Series E proceeds to$6.0 million for the first half of 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. - On April 10, 2026, all principal and accrued interest outstanding under the Company’s secured convertible promissory notes was exchanged for 583 shares of Series E convertible preferred stock, eliminating all convertible note debt from the Company’s balance sheet as of June 30, 2026.
- Subsequent to quarter end, on July 16, 2026, the Company entered into a standstill agreement with Streeterville under which Streeterville agreed that, for 120 days, it will not convert shares of Series E convertible preferred stock into common stock unless the common stock trades at least
10% above the “Minimum Price” as defined in Nasdaq Rule 5635. - Accounts receivable increased to approximately
$0.3 million as of June 30, 2026, compared to$0.2 million as of December 31, 2025, reflecting higher MCED testing volume late in the quarter. - Hosted the inaugural session of a new monthly investor webinar series on July 1, 2026, focused on the Company’s Medicare strategy for OneTest™ and its serial biomarker tracking methodology. Sessions are held on the first Wednesday of each month.
- Continued to advance the Company’s patented protein tumor marker based, machine learning derived MCED methodology, which tracks biomarker trajectories over time rather than relying on single-point testing, an approach the Company believes may support earlier-stage detection compared to stand-alone circulating tumor DNA based MCEDs.
Management Commentary
Chief Executive Officer Jonathan Cohen commented, “The second quarter was the strongest quarter of multi-cancer early detection testing this Company has ever delivered. OneTest™ revenue grew
"State-funded firefighter cancer screening continues to validate OneTest™ in a meaningful commercial setting. Programs in Maryland and Vermont are expected to help us surpass 35,000 firefighters tested by year-end, generating valuable real-world evidence while contributing to revenue growth."
"That growing body of clinical data supports our long-term reimbursement strategy. With a statutory Medicare pathway for FDA-authorized MCED blood tests beginning in 2028, we believe OneTest™ is well positioned to benefit from expanding adoption as we continue advancing toward commercialization."
Chief Financial Officer Alan Bergman added, "Second quarter results reflected a return to growth, with revenue increasing
“We also strengthened the balance sheet meaningfully. During the quarter, we strengthened the balance sheet by raising additional Series E preferred capital and eliminating all outstanding convertible note debt. We ended the quarter with
Second Quarter 2026 Financial Results
Total revenue for the three months ended June 30, 2026 was
Total cost of revenue for the three months ended June 30, 2026 was
Gross profit for the three months ended June 30, 2026 was
Operating expenses increased to
Total other expense, net was
Net loss for the three months ended June 30, 2026 was
Cash and cash equivalents totaled
First Half 2026 Financial Results
Total revenue for the six months ended June 30, 2026 was
Gross profit for the six months ended June 30, 2026 was
Total operating expenses for the six months ended June 30, 2026 were
Net loss for the six months ended June 30, 2026 was
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, or MCED, blood test, and OneTest™ for Longevity measures inflammatory biomarkers and is 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, Maryland.
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, including, without limitation, statements regarding expected revenue from state-funded firefighter cancer screening programs, the number of firefighters expected to be tested, the Giant Food retail pilot and whether it results in business beyond the pilot term, the Company’s expectations regarding new customer orders and its commercial pipeline, the Company’s ability to obtain FDA authorization for OneTest™ for Cancer or Medicare coverage or reimbursement, and the Company’s expectations regarding future revenue growth and liquidity. 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) | ||||||||
| June 30, 2026 | December 31, 2025 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 4,546,140 | $ | 1,025,987 | ||||
| Accounts receivable, net | 291,486 | 199,954 | ||||||
| Inventory | 111,036 | 116,217 | ||||||
| Prepaid expenses and other current assets | 126,961 | 128,975 | ||||||
| Total current assets | 5,075,623 | 1,471,133 | ||||||
| License agreement, net | 265,518 | 271,143 | ||||||
| Property and equipment, net | 33,700 | 56,677 | ||||||
| Intangible asset, net | 205,985 | 202,264 | ||||||
| Right-of-use assets, net | 519,302 | 605,289 | ||||||
| Deferred financing costs | - | 1,507,794 | ||||||
| Other assets | 23,057 | 23,057 | ||||||
| Total assets | $ | 6,123,185 | $ | 4,137,357 | ||||
| Liabilities and Stockholders’ Equity (Deficit) | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 1,026,809 | $ | 868,545 | ||||
| Accrued liabilities | 743,001 | 785,784 | ||||||
| Accrued dividends – Series E convertible preferred stock | 121,662 | - | ||||||
| Deferred revenue – current | 467,033 | 414,871 | ||||||
| Derivative liability – current | - | 143,382 | ||||||
| Convertible notes payable – current | - | 74,611 | ||||||
| Operating lease liability – current | 192,731 | 175,948 | ||||||
| Total current liabilities | 2,551,236 | 2,463,141 | ||||||
| Long-term liabilities: | ||||||||
| Convertible notes payable, net | - | 619,355 | ||||||
| Deferred revenue – long-term | 32,924 | 41,816 | ||||||
| Derivative liabilities – long-term | - | 543,545 | ||||||
| Operating lease liability – long term | 379,717 | 488,725 | ||||||
| Total long-term liabilities | 412,641 | 1,693,441 | ||||||
| Total liabilities | 2,963,877 | 4,156,582 | ||||||
| Commitments and contingencies (Note 9) | - | - | ||||||
| Contingently redeemable convertible preferred stock: | ||||||||
| Series E convertible preferred stock, | 1,538,608 | - | ||||||
| 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, | 122,512 | 54,422 | ||||||
| Additional paid-in capital | 38,426,586 | 33,126,398 | ||||||
| Accumulated deficit | (36,928,398 | ) | (33,247,219 | ) | ||||
| Total stockholders’ equity (deficit) | 1,620,700 | (19,225 | ) | |||||
| Total liabilities, contingently redeemable preferred stock and stockholders’ equity (deficit) | $ | 6,123,185 | $ | 4,137,357 | ||||
| 20/20 BIOLABS, INC. CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenues | $ | 730,571 | $ | 535,060 | $ | 1,083,946 | $ | 1,088,880 | ||||||||
| Cost of revenues | 425,844 | 371,796 | 716,335 | 759,822 | ||||||||||||
| Gross profit | 304,727 | 163,264 | 367,611 | 329,058 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Sales, general and administrative | 1,291,318 | 814,811 | 2,644,076 | 1,615,955 | ||||||||||||
| Research and development | 257,632 | 194,124 | 411,114 | 330,955 | ||||||||||||
| Total operating expenses | 1,548,950 | 1,008,935 | 3,055,190 | 1,946,910 | ||||||||||||
| Operating loss | (1,244,223 | ) | (845,671 | ) | (2,687,579 | ) | (1,617,852 | ) | ||||||||
| Other (expense) income: | ||||||||||||||||
| Interest expense | (272,245 | ) | (935 | ) | (539,254 | ) | (1,675 | ) | ||||||||
| Interest income | 14,476 | 5,673 | 21,129 | 14,131 | ||||||||||||
| Loss on change in fair value of warrant liability | - | - | (148,766 | ) | - | |||||||||||
| Loss on issuance of convertible note | (4,236 | ) | - | (326,595 | ) | - | ||||||||||
| Other expense, net | (115 | ) | - | (115 | ) | (115 | ) | |||||||||
| Total other (expense) income | (262,120 | ) | 4,738 | (993,601 | ) | 12,341 | ||||||||||
| Provision for income taxes | - | - | - | - | ||||||||||||
| Net loss | (1,506,343 | ) | (840,933 | ) | (3,681,180 | ) | (1,605,511 | ) | ||||||||
| Deemed dividend on warrant modifications | (1,124,676 | ) | - | (1,124,676 | ) | - | ||||||||||
| Preferred stock dividends | (121,662 | ) | - | (175,854 | ) | - | ||||||||||
| Net loss attributable to common stockholders | $ | (2,752,681 | ) | $ | (840,933 | ) | $ | (4,981,710 | ) | $ | (1,605,511 | ) | ||||
| Basic and diluted net loss per common share | $ | (0.26 | ) | $ | (0.17 | ) | $ | (0.54 | ) | $ | (0.33 | ) | ||||
| Weighted-average common shares outstanding, basic and diluted | 10,790,722 | 4,823,125 | 9,230,710 | 4,823,125 | ||||||||||||
| 20/20 BIOLABS, INC. CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) | ||||||||
| Six Months Ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net loss | $ | (3,681,180 | ) | $ | (1,605,511 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 24,610 | 33,304 | ||||||
| Stock based compensation | 499,740 | 259,300 | ||||||
| Amortization of license fees | 13,125 | 11,250 | ||||||
| Issuance of common stock for services | 181,500 | - | ||||||
| Loss on issuance of convertible note | 322,359 | - | ||||||
| Amortization of right-of-use assets, net of liabilities | (6,238 | ) | (3,676 | ) | ||||
| Amortization of debt discount | 515,583 | - | ||||||
| Change in fair value of derivative liability | 148,766 | - | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | (91,532 | ) | (38,979 | ) | ||||
| Inventory | 5,181 | (14,496 | ) | |||||
| Prepaid expenses and other assets | 2,014 | 53,770 | ||||||
| Accounts payable | 158,265 | 184,333 | ||||||
| Accrued liabilities | (29,883 | ) | 192,468 | |||||
| Deferred revenue | 43,270 | (94,161 | ) | |||||
| Net cash used in operating activities | (1,894,420 | ) | (1,022,398 | ) | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Purchases of intangible assets, including patents | (5,354 | ) | - | |||||
| License agreement | (7,500 | ) | - | |||||
| Net cash used in investing activities | (12,854 | ) | - | |||||
| 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 convertible preferred stock | 6,000,000 | - | ||||||
| Offering costs | (822,573 | ) | - | |||||
| Net cash provided by financing activities | 5,427,427 | 262,338 | ||||||
| Increase (decrease) in cash and cash equivalents | 3,520,153 | (760,060 | ) | |||||
| Cash and cash equivalents, beginning of period | 1,025,987 | 1,784,009 | ||||||
| Cash and cash equivalents, end of period | $ | 4,546,140 | $ | 1,023,949 | ||||
| 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 | $ | 289,193 | $ | - | ||||
| Deferred offering costs – issuance of common stock and warrants as offering costs | $ | 3,654,057 | $ | - | ||||
| Accrued dividends on series E convertible preferred stock | $ | 121,662 | $ | - | ||||
| Deemed dividend on warrant modifications | $ | 1,124,676 | $ | - | ||||
| Issuance of preferred stock for dividends on series E convertible 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 | $ | - | ||||
| Conversion of convertible notes payable and accrued interest to Series E Preferred | $ | 583,197 | $ | - | ||||
