FiEE, Inc. Announces First Quarter 2026 Unaudited Financial Results
Rhea-AI Summary
FiEE (NASDAQ:FIEE) reported first quarter 2026 results for the period ended March 31, 2026: revenue $2.1 million, gross profit ~$1.5 million, gross margin 70.4%, and net income ~$0.4 million, compared with losses in Q1 2025.
FiEE said it onboarded ~818 SaaS customers, has cumulative SaaS fees of $6.9 million (with $6.4 million recognized cumulatively), secured $1.5 million in customized software contracts, and held $4.6 million in cash as of March 31, 2026.
Positive
- Revenue of $2.1 million for Q1 2026
- Gross margin of 70.4%
- Net income turnaround to $0.4 million in Q1 2026
- 818 SaaS customers and cumulative SaaS fees of $6.9 million
- Cash and cash equivalents of $4.6 million as of March 31, 2026
Negative
- Operating expenses rose 188.2% to approximately $1.1 million
- General and administrative expenses increased 192.8%
- Net cash provided by operating activities was only $67 thousand in Q1 2026
News Market Reaction – FIEE
In the May 1 session, FIEE gained 2.60%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 20 | Annual results 2025 | Positive | +6.7% | Reported 2025 revenue up 867.9% to $6.2M with $1.1M net income. |
| Feb 02 | Prelim 2025 results | Positive | -13.2% | Issued strong preliminary 2025 sales and profit update with large YoY growth. |
| Nov 12 | Q3 2025 earnings | Neutral | +7.4% | Reported SaaS pivot with nine‑month net sales $1.98M and 83% margin. |
| Aug 13 | H1 2025 results | Neutral | -3.8% | Disclosed early SaaS transition with $45,118 net sales and improved cash. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings headlines have produced mixed reactions, with two aligned positive moves and two divergences.
Over recent earnings cycles, FiEE has shifted from hardware to SaaS and digital services, driving rapid revenue growth and a move to profitability. H1 2025 results showed modest $45,118 net sales but strong prepaid SaaS traction. By Q3 2025, nine‑month net sales reached $1.98M with 83% gross margin. Preliminary and final 2025 results then highlighted about $6.2M revenue and net income near $1.0–1.1M, underscoring the pivot that underpins today’s Q1 2026 profit.
Key Terms
software-as-a-service ("SaaS") technical
multi-channel network ("MCN") technical
digital authentication services technical
Internet of Things (IoT) technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
First Quarter Revenue Reached
Gross Margin of
Operational and Financial Highlights for the Three Months Ended March 31, 2026
- Revenue was approximately
$2.1 million $125
- As of March 31, 2026, FiEE onboarded approximately 818 customers for its SaaS service, corresponding to SaaS – multi-channel network ("MCN") digital service fees totaling
$6.9 million $6.4 million $1.1 million
- Building on this momentum, FiEE introduced customized software services in July 2025. As of March 31, 2026, FiEE secured contracts totaling
$1.5 million $0.6 million
- Through the acquisition of Houren-Geiju Kabushikikaisha in November 2025, FiEE added the ability to provide digital authentication, certification, and display services for artwork. As of March 31, 2026, this business had generated cumulative revenue of
$0.8 million $0.4 million
- Gross profit was approximately
$1.5 million $625
- Net income was approximately
$0.4 million $0.4 million
- Net cash provided by operating activities reached
$67 thousand
Rafael Li, Chief Executive Officer of FiEE, commented, "We are delighted to announce a substantial improvement in profitability for the first quarter of 2026. This highlights the strong momentum of our expanding SaaS solutions, as well as the growing contributions of our customized software and digital authentication services. In March 2026, through our strategic entry into AI-powered music creation, distribution, and entertainment, we further demonstrated our commitment to innovation and expansion, opening new pathways to integrate advanced technologies into our digital ecosystem. In line with our long-term strategy, we are actively assessing opportunities in AI, hardware, and the Internet of Things (IoT), while also exploring opportunities in the MCN business."
Mr. Li further mentioned, "Looking ahead, we will continue to drive growth through innovation. By investing in R&D, we aim to broaden our service portfolio, deepen user engagement, and strengthen our brand's resilience in the digital content industry. At the same time, we are focused on building bridges between influencers, content creators, and global markets, fostering impactful partnerships and extending our reach across this rapidly evolving digital landscape."
Financial Results for the First Quarter Ended March 31, 2026
Revenue was approximately
Revenues | Three Months Ended March 31, | % | ||||
2026 | 2025 | change | ||||
$ | $ | YoY | ||||
Product sales | ||||||
• SaaS – MCN digital services | 1,093,336 | 125 | 874,568.8 % | |||
• Software services | 589,959 | - | N/A | |||
• Digital authentication services | 438,694 | - | N/A | |||
Total | $ | 2,121,989 | $ | 125 | 1,697,491.2 % | |
Gross profit was approximately
Gross margin was
Operating expenses were approximately
- Selling and marketing expenses were approximately
$34 thousand $34 thousand
- General and administrative expenses were approximately
$1.0 million 192.8% from$0.3 million
- Research and development expenses were approximately
$37 thousand 22.0% from$30 thousand
Operating income was approximately
Net income was approximately
Diluted earnings per common share was
As of March 31, 2026, total cash and cash equivalents was
About FiEE, Inc.
FiEE, Inc. (NASDAQ:FIEE), formerly Minim, Inc., was founded in 1977. It has a historical track record of delivering comprehensive WiFi/Software as a Service platform in the market. After years of development, it made the strategic decision to transition to a Software First Model in 2024 to expand its technology portfolio and revenue streams. In 2025, FiEE, Inc. rebranded itself as a technology company leveraging its expertise in IoT, connectivity, and AI to explore new business prospects and extend its global footprint.
FiEE, Inc.'s services are structured into four key categories: Cloud-Managed Connectivity (WiFi) Platform, IoT Hardware Sales & Licensing, SAAS Solutions, and Professional To-C and To-B Services & Support. Notably, FiEE, Inc. has introduced its innovative Software-as-a-Service solutions, which integrate its AI and data analytics capabilities into content creation and brand management. This initiative has nurtured a robust pool of KOLs on major social media platforms worldwide, helping them develop, manage, and optimize their digital presence. FiEE, Inc.'s services include customized graphics and posts, short videos, and editorial calendars tailored to align with brand objectives.
Forward-Looking Statements
In addition to historical information, this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements, written, oral or otherwise made, represent the Company's expectation or belief concerning future events. Without limiting the foregoing, the words "believes," "expects," "may," "might," "will," "should," "seeks," "intends," "plans," "strives," "goal," "estimates," "forecasts," "projects" or "anticipates" or the negative of these terms and similar expressions are intended to identify forward-looking statements. Forward-looking statements included in this press release may include, among others, statements relating to (i) the future financial position and performance of the Company, (ii) our ability to successfully implement our strategic business transformation, (iii) our long-term growth objectives and opportunities, (iv) our commitment to investing in R&D to expand our service offerings, enhance customer experience, and deliver greater brand value across the digital content landscape, (v) our plans to drive growth through innovation, build bridges between influencers, content creators, and global markets, and foster impactful partnerships to extend our reach across the digital landscape, and (vi) our plans to further accelerate business growth and create value for our stockholders.
By nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statement. In addition, there may be other factors of which we are presently unaware or that we currently deem immaterial that could cause our actual results to be materially different from the results referenced in the forward-looking statements. All forward-looking statements contained in this press release are qualified in their entirety by this cautionary statement. Although we believe that our plans, intentions and expectations are reasonable, we may not achieve our plans, intentions or expectations. Forward-looking statements are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. See "Risk Factors" and "Special Note Regarding Forward-Looking Statements" included in the Company's filings with the
For investor and media inquiries, please contact:
Email: fiee@dlkadvisory.com
(financial tables follow)
FIEE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
As of March 31, | ||
2026 | 2025 | |
ASSETS | $ | $ |
Current assets | ||
Cash | 4,579,910 | 3,084,461 |
Accounts receivable | 1,422,013 | 2,110,715 |
Other receivables, net | 18,051 | 1,217,692 |
Prepaid expenses and other current assets | 218,882 | 199,309 |
Total current assets | 6,238,856 | 6,612,177 |
Property, equipment and software, net | 900,020 | 366,439 |
Intangible assets | 3,205,982 | 3,529,835 |
Operating lease right-of-use assets, net | 15,575 | 31,004 |
Deferred tax assets | 26,731 | - |
Other assets | 1,452,799 | 231,680 |
Total assets | 11,839,963 | 10,771,135 |
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ||
Current liabilities | ||
Accounts payable | 263,970 | 511,206 |
Contract liabilities | 668,903 | 1,497,721 |
Accrued expenses and other current liabilities | 1,138,505 | 1,169,737 |
Income tax payables | 856,870 | 972,743 |
Current maturities of operating lease liabilities | 14,953 | 30,350 |
Total current liabilities | 2,943,201 | 4,181,757 |
Total liabilities | 2,943,201 | 4,181,757 |
Stockholders' equity | ||
Preferred stock | 1,639,779 | 1,639,779 |
Common stock | 83,286 | 79,341 |
Additional paid-in capital | 102,488,505 | 100,500,280 |
Accumulated deficit | (95,270,063) | (95,621,579) |
Accumulated other comprehensive income | (44,745) | (8,443) |
Total stockholders' equity | 8,896,762 | 6,589,378 |
Total liabilities and stockholders' equity | 11,839,963 | 10,771,135 |
FIEE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS (UNAUDITED)
As of March 31, | ||
2026 | 2025 | |
$ | $ | |
Revenues | 2,121,989 | 125 |
Cost of revenues | 627,745 | 750 |
Gross profit | 1,494,244 | (625) |
Operating expenses: | ||
Selling and marketing | 34,339 | - |
General and administrative | 996,873 | 340,496 |
Research and development | 36,587 | 30,000 |
Total operating expenses | 1,067,799 | 370,496 |
Operating income (loss) | 426,445 | (371,121) |
Other income (expense): | ||
Interest income (expense), net | - | (2,789) |
Foreign currency exchange income | 34,995 | - |
Other, net | 26,905 | - |
Total other income(expense) | 61,900 | (2,789) |
Income (loss) before income taxes | 488,345 | (373,910) |
Income tax expense | 136,829 | - |
Net income (loss) | 351,516 | (373,910) |
Allocation to participating preferred stock | (101,605) | - |
Net income (loss) attributable to common stockholders | 249,911 | (373,910) |
Basic earnings (loss) per common share | 0.03 | (0.10) |
Diluted earnings (loss) per common share | 0.02 | (0.10) |
Weighted-average number of common shares outstanding: | ||
Basic | 7,938,505 | 3,713,792 |
Diluted | 10,440,594 | 3,713,792 |
Net income (loss) | 351,516 | (373,910) |
Other comprehensive income (loss), net of tax: | - | |
Foreign currency translation adjustment | (36,302) | - |
Total comprehensive income (loss) | 315,214 | (373,910) |
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SOURCE FiEE, Inc.