BIO GREEN MED SOLUTION REPORTS FIRST QUARTER FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATE
Rhea-AI Summary
Bio Green Med Solution (NASDAQ: BGMS) reported Q1 2026 results and business updates. The company, now focused on fire safety protection and distribution, generated $0.8 million in fire safety product revenue and reported a net loss of $0.2 million.
Cash and cash equivalents were $3.3 million at March 31, 2026, with operating cash use of $0.3 million. General and administrative expenses fell to $0.4 million from $4.2 million a year earlier. Trading of its 6% Convertible Exchangeable Preferred Stock (BGMSP) was suspended and delisted, while a $0.15 quarterly dividend on BGMSP was paid May 1, 2026.
AI-generated analysis. Not financial advice.
Positive
- Fire safety equipment product revenue of $0.8 million in Q1 2026 following Fitters acquisition
- General and administrative expenses reduced by $3.8 million year-over-year to $0.4 million
- Cash and cash equivalents of $3.3 million as of March 31, 2026
- Company estimates current cash will fund planned expenditures into Q4 2026
- Total other income, net, increased to $79,000 from $8,000, mainly from FX gains
- Quarterly cash dividend of $0.15 per BGMSP share paid May 1, 2026
Negative
- Net loss of $0.2 million for Q1 2026, versus $0.1 million loss in Q1 2025
- Net cash used in operating activities of $0.3 million in Q1 2026
- Cash and cash equivalents declined from $3.5 million at December 31, 2025 to $3.3 million
- Trading of 6% Convertible Exchangeable Preferred Stock (BGMSP) suspended and security delisted from Nasdaq
- Income tax provision of approximately $30,000 in Q1 2026 versus no income tax provision in Q1 2025
Key Figures
Market Reality Check
Peers on Argus
BGMS gained 6.38% with no peers in the momentum set and no sector-wide biotech move flagged, pointing to a company-specific reaction.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 30 | Earnings update | Neutral | +3.8% | Reported Q4 and 2025 results plus Fitters acquisition integration and cash runway. |
| Nov 13 | Quarterly earnings | Neutral | -2.2% | Q3 2025 results detailing fire safety transition, reverse splits, and asset sales. |
Earnings headlines have produced modest, mixed moves, with one positive and one negative reaction so far.
Over recent quarters, BGMS has used earnings updates to communicate its transition from biopharma to fire safety distribution. The Nov 13, 2025 Q3 2025 release showed early fire safety revenue of $81k, a reduced net loss of $1.0M, and cash of $3.8M with runway into early 2026. The Mar 30, 2026 full-year 2025 update highlighted the Fitters acquisition, fire-safety revenue of $0.7M in Q4, and cash of $3.5M with runway into Q3 2026, framing today’s Q1 2026 progress.
Historical Comparison
Past earnings releases for BGMS moved the stock by an average of 0.8%. Today’s 6.38% move on Q1 2026 results stands out as a much stronger reaction.
Earnings updates trace a shift from biopharma to fire safety, with cash runway extending from the first quarter of 2026 to Q3 2026 and now into the fourth quarter of 2026 as fire safety revenues scale.
Market Pulse Summary
This announcement highlights BGMS’s early fire safety traction, with Q1 2026 product revenue of $0.8M, sharply reduced G&A expenses of $0.4M, and a modest net loss of $0.2M. Cash and cash equivalents of $3.3M and an estimated runway into the fourth quarter of 2026 frame near-term liquidity. Investors may watch future quarters for revenue growth, margin trends, and confirmation that the leaner cost base supports a sustainable fire safety distribution business.
Key Terms
form 25-nse regulatory
AI-generated analysis. Not financial advice.
KUALA LUMPUR, MALAYSIA, May 14, 2026 (GLOBE NEWSWIRE) -- Bio Green Med Solution, Inc. (NASDAQ: BGMS; “BGMS” or the “Company”), a diversified company engaged primarily in the provision of fire safety protection and distribution activities, today announced first quarter financial results and provided a business update.
Highlights of the first quarter ended March 31, 2026, or in some cases shortly thereafter, include:
| ● | In March, trading of the Company’s | |
| ● | In April, the Board of Directors of the Company declared a quarterly cash dividend of |
Datuk Dr. Doris Wong Sing Ee, Chief Executive Officer of the Company, commented, "We are pleased to report our first quarter 2026 results, which reflect meaningful progress in our strategic transformation. Since completing the acquisition of Fitters Sdn. Bhd. in September 2025, we have successfully transitioned our operations to focus on fire safety protection and distribution, and we are encouraged by the early momentum in this business, which generated
"While we reported a modest net loss of
Financial Highlights
As of March 31, 2026, cash and cash equivalents totaled
Net cash used in operating activities was
Following the acquisition of Fitters Sdn. Bhd. on September 12, 2025, product revenue from sales and distribution of fire safety equipment was
Cost of sales related to sales and distribution of fire safety equipment was
General and administrative expenses decreased by approximately
Total other income, net, for the three months ended March 31, 2026, increased by approximately
Income tax provision for the three months ended March 31, 2026, was approximately
Net income from discontinued operations was
Net loss for the three months ended March 31, 2026, was
About Bio Green Med Solution, Inc.
BGMS is a diversified company that was formerly engaged in the biopharmaceutical industry but as of September 2025 has shifted its operations to focus on provision of fire safety protection and distribution activities. Specifically, on September 12, 2025, the Company completed its acquisition of Fitters Sdn. Bhd., a Malaysia-based group specializing in fire protection products and services. Headquartered in Malaysia, the Company is now focused on advancing opportunities across these distinct sectors whilst maintaining its commitment to driving long-term value creation for shareholders. For additional information, please visit www.bgmsglobal.com.
Forward-looking Statements
Except for historical information, certain matters discussed in this press release may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance and involve various assumptions, known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by words such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or other comparable words. Actual results, performance or outcomes may differ materially from those expressed or implied by these forward-looking statements and may not align with historical performance and events due to a number of factors, including those discussed in the sections of our annual report on Form 10-K entitled “Cautionary Statement Regarding Forward-Looking Statements” and “Risk Factors,” and those discussed in our Form 10-Q quarterly reports filed after such annual report. BGMS’s SEC filings are readily obtainable at no charge at www.sec.gov, as well as on its own investor relations website at https://investor.bgmsglobal.com/sec-filings. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements, and caution should be exercised against placing undue reliance upon such statements, which are based only on information currently available to us and speak only as of the date hereof. We are under no duty to update publicly any of the forward-looking statements after the date of this earnings press release, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE:
Bio Green Med Solution, Inc.
info@bgmsglobal.com
BIO GREEN MED SOLUTION, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (LOSS)
(In
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2026 | 2025 | |||||||
| Revenues: | ||||||||
| Product revenue - fire safety | $ | 778 | $ | - | ||||
| Revenues | $ | 778 | $ | - | ||||
| Operating expenses: | ||||||||
| Cost of sales | 635 | - | ||||||
| General and administrative | 389 | 4,214 | ||||||
| Total operating expenses | 1,024 | 4,214 | ||||||
| Operating loss | (246 | ) | (4,214 | ) | ||||
| Other income (expense): | ||||||||
| Foreign exchange gains (losses) | 39 | (8 | ) | |||||
| Interest income | 9 | 6 | ||||||
| Other income, net | 31 | 10 | ||||||
| Total other income, net | 79 | 8 | ||||||
| Loss from continuing operations before taxes | (167 | ) | (4,206 | ) | ||||
| Income tax provision | (30 | ) | - | |||||
| Net loss from continuing operations | (197 | ) | (4,206 | ) | ||||
| Discontinued operations: | ||||||||
| Operating losses from discontinued operations | - | (822 | ) | |||||
| Gain on deconsolidation of subsidiary | - | 4,947 | ||||||
| Net income from discontinued operations | - | 4,125 | ||||||
| Net loss | (197 | ) | (81 | ) | ||||
| Dividend on convertible exchangeable preferred shares | (20 | ) | - | |||||
| Net loss applicable to common shareholders | $ | (217 | ) | $ | (81 | ) | ||
| Basic and diluted earnings per common share: | ||||||||
| Net loss per share, continuing operations – basic and diluted (common shareholders) | $ | (0.04 | ) | $ | (11.52 | ) | ||
| Net income per share, discontinued operations – basic and diluted (common shareholders) | $ | - | $ | 11.29 | ||||
| Weighted average common shares outstanding | 5,458,564 | 365,231 | ||||||
BIO GREEN MED SOLUTION, INC.
CONSOLIDATED BALANCE SHEET
(In
| March 31, | December 31, | |||||||
| 2026 | 2025 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 3,339 | $ | 3,505 | ||||
| Inventory | 947 | 1,384 | ||||||
| Accounts receivable | 1,188 | 1,257 | ||||||
| Prepaid expenses and other current assets | 148 | 110 | ||||||
| Total current assets | 5,622 | 6,256 | ||||||
| Property and equipment, net Property and equipment, net | 138 | 137 | ||||||
| Right-of-use lease asset | 10 | 12 | ||||||
| Goodwill | 1,570 | 1,570 | ||||||
| Property and equipment, net Non-current deposits | 224 | 210 | ||||||
| Total assets | $ | 7,564 | $ | 8,185 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 256 | $ | 617 | ||||
| Accrued and other current liabilities | 540 | 715 | ||||||
| Total current liabilities | 796 | 1,332 | ||||||
| Lease liability | - | 2 | ||||||
| Other liabilities | 8 | 9 | ||||||
| Total liabilities | 804 | 1,343 | ||||||
| Stockholders’ equity | 6,760 | 6,842 | ||||||
| Total liabilities and stockholders’ equity | $ | 7,564 | $ | 8,185 | ||||
