Here are the 10-Q quarterly reports from Hadron Energy, Inc. Warrant (HDRNW) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow HDRNW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HDRNW filings page.
Hadron Energy, Inc. (HDRN) reported a third-quarter 2026 net loss of $5.4 million, versus a $24.2 million loss a year earlier. For the first nine months of 2026, it recorded net income of $25.5 million, compared with a $31.2 million loss in 2025; the 2026 result primarily reflected noncash fair-value gains of $31.8 million on SAFEs, $9.6 million on a legal settlement liability and $5.7 million on warrant liabilities. Hadron has not generated revenue since inception.
For the nine months, operating loss was $12.1 million and operating cash use was $6.9 million, versus $3.8 million and $1.4 million, respectively, in 2025. Cash was $19.7 million as of September 30, 2026; the May business combination provided approximately $22.9 million in net proceeds. The company had no debt, and management believes existing cash will support operations for at least one year from the statements’ issuance. Hadron is developing its 10-megawatt-electric Hadron Halo micro modular reactor and targets Manufacturing License and Combined Operating License submissions by 2028. The NRC approved its quality-assurance topical report for future licensing applications, but the design is not yet approved or licensed for use at any site.
Hadron Energy, Inc. is a pre-revenue advanced nuclear company developing a 10MWe micro modular reactor for data centers, industrial sites and defense and completed a reverse‑recapitalization business combination with GigCapital7 in May 2026, raising approximately $22.9 million of cash.
As of June 30, 2026, cash was $22.2 million with no debt and total assets of $23.1 million. Stockholders’ position improved from a deficit of $(59.8) million at December 31, 2025 to positive equity of $19.2 million, largely due to conversion of SAFEs into equity and business-combination proceeds.
For the six months ended June 30, 2026, Hadron reported net income of $30.9 million, driven by non-cash gains on remeasurement of SAFEs ($31.8 million), warrant liabilities ($5.3 million) and a legal settlement ($9.6 million), while incurring a loss from operations of $6.2 million and negative operating cash flow of $4.4 million. The company states it has not generated any revenue to date and expects operating losses to continue as it funds R&D, regulatory work and public-company costs, but believes existing cash will support operations for at least one year from the financial statement issuance date.