BIO GREEN MED SOLUTION REPORTS THIRD QUARTER FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATE
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Bio Green Med Solution (NASDAQ: BGMS) reported third-quarter revenue of $454,000, up from the prior-year period as its net loss narrowed. Revenue compared with $81,000 a year earlier, while gross margin reached approximately 25% versus approximately 21%. Net loss narrowed to $449,000 from $988,000, and basic and diluted loss per common share improved to $0.07 from $1.31. General and administrative expenses fell to $635,000 from $1.004 million.
Cash totaled $3.454 million at September 30, 2026, versus $3.505 million at year-end. The company estimates its cash will fund planned expenditure into the second quarter of 2027. The Form S-4 for the proposed Future NRG combination became effective in October; a November shareholder meeting is planned to seek approval. A quarterly $0.15-per-share dividend on its 6% Convertible Exchangeable Preferred Stock was paid November 1.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointThird-quarter fire safety revenue of $454,000 increased from $81,000 in the prior-year quarter.
- Moderate pointGross margin of approximately 25% improved from approximately 21% in the prior-year quarter.
- Moderate pointQuarterly net loss narrowed to $449,000 from $988,000 a year earlier.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Cash runway into the second quarter of 2027 is the company's estimate for planned expenditure.
- Minor pointBasic and diluted loss per common share of $0.07 improved from $1.31 a year earlier.
5 minor points
- Minor pointGeneral and administrative expenses fell to $635,000 from $1.004 million in the prior-year quarter.
- Minor pointOperating loss narrowed to $520,000 from $987,000 in the prior-year quarter.
- Minor pointTotal other income, net, rose to $74,000 from $4,000 in the prior-year quarter.
- Minor pointDiscontinued operations had no activity versus a $5,000 loss in the prior-year quarter.
- Minor pointTotal liabilities declined to $817,000 at September 30, 2026, from $1.343 million at December 31, 2025.
Negative
- Moderate point. Forward-looking: it has not happened yet and may not happen.Future NRG business combination remains proposed, with shareholder approval to be sought at a planned November 2026 meeting.
- Moderate pointOperating activities used $0.9 million in cash during the nine months ended September 30, 2026.
- Moderate pointWeighted average common shares outstanding increased to 6,622,794 from 1,912,495 in the prior-year quarter.
- Minor pointCash declined to $3.454 million at September 30, 2026, from $3.505 million at December 31, 2025.
- Minor pointQuarterly cost of sales rose to $339,000 from $64,000 in the prior-year quarter.
2 minor points
- Minor pointQuarterly income tax provision increased to $3,000 from zero in the prior-year quarter.
- Minor pointStockholders' equity fell to $6.661 million at September 30, 2026, from $6.842 million at December 31, 2025.
Key Figures
- Fire safety product revenue
- $454,000 vs. $81,000
- Three months ended September 30, 2026 vs. prior-year period
- Gross margin
- Approximately 25% vs. approximately 21%
- Three months ended September 30, 2026 vs. prior-year period
- Net loss
- $0.4 million vs. $1.0 million
- Three months ended September 30, 2026 vs. prior-year period
- G&A expense reduction
- 37%
- Year over year
- Operating cash used
- $0.9 million
- Nine months ended September 30, 2026
- Estimated cash runway
- Into the second quarter of 2027
- Company estimate for planned expenditure
- Preferred stock cash dividend
- $0.15 per share
- Quarterly dividend; paid November 1, 2026
Previous Earnings Reports
-
Fire safety revenue and net loss improved; the reported 24-hour price reaction was slightly positive.
-
Fire safety revenue was $81,000 and net loss narrowed year over year; the reported price reaction was negative.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
form s-4 regulatory
business combination agreement financial
discontinued operations financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
KUALA LUMPUR, MALAYSIA, Nov. 12, 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 third quarter financial results and provided a business update.
Highlights of the third quarter ended September 30, 2026, or in some cases shortly thereafter, include:
- In October, the Company’s previously filed Form S-4, detailing the Company’s proposed Business Combination Agreement with Future NRG Sdn. Bhd., a Malaysia private limited company, was declared effective. The Company is planning to hold a Special Meeting in November 2026 to obtain shareholder approval for the proposed Business Combination.
- In October, the Board of Directors of the Company declared a quarterly cash dividend of
$0.15 per share on the Company’s6% Convertible Exchangeable Preferred Stock, which cash dividend was paid on November 1, 2026, to holders of record as of the close of business on October 26, 2026.
“During the third quarter, our fire safety business generated
Financial Highlights
As of September 30, 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 September 30, 2026, increased by approximately
Income tax provision for the three months ended September 30, 2026, increased by approximately
Net loss from discontinued operations was
Net loss for the three months ended September 30, 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. 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 $000s, except share and per share amounts)
| Three Months Ended | ||||||||
| September 30, | ||||||||
| 2026 | 2025 | |||||||
| Revenues: | ||||||||
| Product revenue - fire safety | $ | 454 | $ | 81 | ||||
| Revenues | $ | 454 | $ | 81 | ||||
| Operating expenses: | ||||||||
| Cost of sales | 339 | 64 | ||||||
| General and administrative | 635 | 1,004 | ||||||
| Total operating expenses | 974 | 1,068 | ||||||
| Operating loss | (520 | ) | (987 | ) | ||||
| Other income (expense): | ||||||||
| Foreign exchange (losses) | (3 | ) | (14 | ) | ||||
| Interest income | 44 | 9 | ||||||
| Other income, net | 33 | 9 | ||||||
| Total other income, net | 74 | 4 | ||||||
| Loss from continuing operations before taxes | (446 | ) | (983 | ) | ||||
| Income tax provision | (3 | ) | - | |||||
| Net loss from continuing operations | (449 | ) | (983 | ) | ||||
| Discontinued operations: | ||||||||
| Operating losses from discontinued operations | - | (5 | ) | |||||
| Net income from discontinued operations | - | (5 | ) | |||||
| Net loss | (449 | ) | (988 | ) | ||||
| Dividend on convertible exchangeable preferred shares | (20 | ) | (21 | ) | ||||
| Deemed dividend on warrant exchange | - | (1,494 | ) | |||||
| Net loss applicable to common shareholders | $ | (469 | ) | $ | (2,503 | ) | ||
| Basic and diluted earnings per common share: | ||||||||
| Net loss per share, continuing operations – basic and diluted (common shareholders) | $ | (0.07 | ) | $ | (1.31 | ) | ||
| Net income per share, discontinued operations – basic and diluted (common shareholders) | $ | (0.00 | ) | $ | (0.00 | ) | ||
| Net loss per share – basic and diluted (common shareholders) | $ | (0.07 | ) | $ | (1.31 | ) | ||
| Weighted average common shares outstanding | 6,622,794 | 1,912,495 | ||||||
BIO GREEN MED SOLUTION, INC.
CONSOLIDATED BALANCE SHEET
(In $000s, except share, per share, and liquidation preference amounts)
| September 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 3,454 | $ | 3,505 | ||||
| Accounts receivable | 974 | 1,257 | ||||||
| Inventory | 991 | 1,384 | ||||||
| Prepaid expenses and other current assets | 158 | 110 | ||||||
| Total current assets | 5,577 | 6,256 | ||||||
| Property and equipment, net Property and equipment, net | 134 | 137 | ||||||
| Right-of-use lease asset | 5 | 12 | ||||||
| Goodwill | 1,570 | 1,570 | ||||||
| Property and equipment, net Non-current assets | 192 | 210 | ||||||
| Total assets | $ | 7,478 | $ | 8,185 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 181 | $ | 617 | ||||
| Accrued and other current liabilities | 634 | 715 | ||||||
| Total current liabilities | 815 | 1,332 | ||||||
| Lease liability | - | 2 | ||||||
| Other liabilities | 2 | 9 | ||||||
| Total liabilities | 817 | 1,343 | ||||||
| Stockholders’ equity | 6,661 | 6,842 | ||||||
| Total liabilities and stockholders’ equity | $ | 7,478 | $ | 8,185 | ||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Bio Green Med Solution's third-quarter 2026 revenue and earnings?
Bio Green Med Solution reported $454,000 in revenue and a $449,000 net loss for the three months ended September 30, 2026. The prior-year quarter had revenue of $81,000 and a net loss of $988,000. Basic and diluted loss per common share narrowed to $0.07 from $1.31.
What is the status of BGMS's proposed business combination with Future NRG?
The Future NRG business combination remains proposed, with BGMS planning a special meeting in November 2026 to seek shareholder approval. The related Form S-4 was declared effective in October. Completion remains subject to the closing conditions and termination rights in the Business Combination Agreement.