AppTech Payments Corp. Reports Second Quarter 2026 Operating Results

Rhea-AI Summary

AppTech Payments (OTCQB: APCX) reported Q2 2026 revenue of $1.7 million, up from $1.4 million in Q1 2026 and $0.3 million a year earlier, marking its third consecutive quarterly increase. This occurred despite losing most BAAS revenue due to previously disclosed disruptions with its principal banking partner, with which relations are reportedly improving.

GAAP operating loss narrowed to $0.9 million from $1.9 million in Q2 2025 and $2.9 million in Q1 2026. GAAP net loss improved to $1.0 million versus $1.9 million a year ago and $3.3 million in Q1 2026. Cash-based operations showed a loss of $0.5 million, compared to $1.6 million in Q2 2025 and $0.7 million in Q1 2026. AppTech also appointed interim CTO Nick Saponaro and plans to hire a Chief Compliance Officer, and scheduled an earnings call for July 29, 2026 at 11:00 a.m. Eastern Time.

Positive

• Revenue rises to $1.7M from $1.4M Q1 2026 and $0.3M Q2 2025
• GAAP operating loss narrows to $0.9M from $2.9M in Q1 2026
• GAAP net loss improves to $1.0M from $3.3M in Q1 2026
• Cash-based operations loss reduced to $0.5M from $1.6M in Q2 2025
• Leadership build-out with interim CTO appointed and CCO hire planned

Negative

• Company remains unprofitable with $0.9M GAAP operating loss and $1.0M GAAP net loss in Q2 2026
• Loss of most BAAS revenue due to business flow disruptions with principal banking partner
• Cash-based operations still negative with $0.5M outflow in Q2 2026

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CARLSBAD, Calif., July 29, 2026 (GLOBE NEWSWIRE) -- AppTech Payments Corp. ("AppTech" or the "Company") (OTCQB: APCX), a fintech company, today announced financial results for the second quarter ended June 30, 2026.

Revenue increased for the third consecutive quarter to $1.7 million from $1.4 million in the first quarter of 2026 and $0.3 million a year ago. Quarterly revenue improved notwithstanding the loss of most BAAS revenue due to business flow disruptions with our principal banking partner, as previously disclosed.

We continue to work cooperatively with the bank and believe our working relationship has improved. Our efforts to reestablish our BAAS revenue are ongoing.

The Company reported a GAAP operating loss of $0.9 million for the second quarter of 2026, a significant improvement from $1.9 million in the second quarter of 2025 and $2.9 million in the first quarter of 2026. GAAP net loss also improved to $1.0 million for the second quarter of 2026, compared to $1.9 million in the second quarter of 2025 and $3.3 million in the first quarter of 2026.

Cash based operations experienced a loss of $0.5 million for the second quarter of 2026, compared to $1.6 million in the second quarter of 2025 and $0.7 million in the first quarter of 2026.

Felipe Corrado, Interim Chief Executive Officer and Chief Financial Officer, commented:

“I am pleased at our revenue progress despite the banking setback. Shareholders should know we have added a first-rate interim Chief Technology Officer, Nick Saponaro, and will hire our Chief Compliance Officer shortly. As we grow, hiring talent and building out our infrastructure will be paramount to our success.”

Earnings Conference Call

AppTech will host a conference call to discuss its second quarter 2026 financial results on Wednesday, July 29, 2026, at 11:00 a.m. Eastern Time.

To participate by telephone, please register using the following link. Upon registration, participants will receive a dial-in number and unique access code:

https://register-conf.media-server.com/register/BI33fbbc35e5de4c77817e045e4eb1238b

About AppTech Payments Corp.

AppTech Payments Corp. (OTCQB: APCX) provides digital financial services for financial institutions, corporations, small and midsized enterprises ("SMEs"), and consumers through its scalable cloud-based platform architecture and infrastructure. The Company's growing suite of payment, banking, and software solutions enables businesses to modernize payment acceptance, money movement, and financial operations. For more information, please visit www.apptechcorp.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the Company's expected growth, future financial performance, SaaS platform deployment, customer onboarding, transaction volumes, banking relationships, recurring revenue opportunities, profitability, and strategic initiatives. These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are encouraged to review the risk factors described in the Company's filings with the Securities and Exchange Commission. AppTech undertakes no obligation to update any forward-looking statements except as required by applicable law.

AppTech Payments Corp.
760-707-5959
info@apptechcorp.com

FAQ

How did AppTech Payments (OTCQB: APCX) perform financially in Q2 2026?

AppTech reported Q2 2026 revenue of $1.7 million and a GAAP net loss of $1.0 million. According to AppTech, this was its third consecutive quarterly revenue increase and a substantial reduction in net loss versus both Q1 2026 and Q2 2025.

Did AppTech Payments (APCX) improve its operating loss in the second quarter of 2026?

Yes, AppTech reduced its GAAP operating loss to $0.9 million in Q2 2026. According to AppTech, this compares with a $1.9 million loss in Q2 2025 and $2.9 million in Q1 2026, indicating significantly lower operating losses year-over-year and sequentially.

What happened to AppTech Payments' BAAS revenue in Q2 2026?

AppTech lost most of its BAAS revenue in Q2 2026 due to business flow disruptions with its principal banking partner. According to AppTech, it continues working cooperatively with the bank, believes the relationship has improved, and is actively trying to reestablish BAAS revenue streams.

How much cash-based operating loss did AppTech (APCX) report for Q2 2026?

AppTech recorded a cash-based operations loss of $0.5 million in Q2 2026. According to AppTech, this compares with a $1.6 million loss in Q2 2025 and $0.7 million in Q1 2026, showing an improvement versus both the prior year and prior quarter.

What leadership changes did AppTech Payments announce with its Q2 2026 results?

AppTech announced it added interim Chief Technology Officer Nick Saponaro and plans to hire a Chief Compliance Officer. According to AppTech, strengthening technology and compliance leadership is viewed as important as the company grows and builds out its operational infrastructure.

When is the AppTech Payments (APCX) Q2 2026 earnings conference call?

The Q2 2026 earnings call is scheduled for July 29, 2026 at 11:00 a.m. Eastern Time. According to AppTech, investors can participate by registering via the provided online link to receive a dial-in number and unique access code.