Every 10-Q that Rafael Holdings, Inc. (RFL) has filed with the SEC in the last 24 months is listed below, 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 RFL 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 RFL filings page.
Rafael Holdings reported results for the quarter and nine months ended April 30, 2026, showing a small revenue base and ongoing investment in biotech programs. Total revenue was $179,000 for the quarter and $630,000 for the nine-month period, primarily from rental and product sales.
The company posted a quarterly net loss attributable to Rafael Holdings of $4.2 million and a nine-month net loss of $20.5 million, or $(0.40) per share. Cash and cash equivalents were $30.5 million, down from $52.8 million at prior year-end, after using $21.6 million in operating cash over nine months, largely to fund R&D on lead drug candidate Trappsol® Cyclo™ and other portfolio companies.
Rafael Holdings, Inc. reported a larger operating loss as it advances its biotech strategy. For the six months ended January 31, 2026, revenue was $451 thousand, up from $205 thousand a year earlier, driven mainly by rental and new product sales, but research and development expense rose to $12.0 million from $2.3 million. Net loss attributable to Rafael Holdings widened to $16.2 million, or $0.32 per share, compared with $13.6 million, or $0.57 per share. Cash and cash equivalents were $37.8 million as of January 31, 2026, down from $52.8 million at prior fiscal year-end, after using $14.3 million in operating cash during the period. Total assets were $99.3 million and equity was $83.3 million, reflecting significant goodwill and in-process R&D tied to its acquisition of Cyclo and lead drug candidate Trappsol® Cyclo™. The company states its cash is expected to cover obligations for at least 12 months while it focuses on completing a pivotal Phase 3 trial in Niemann-Pick Disease Type C1 and managing a portfolio of majority-owned life science businesses.
Rafael Holdings (RFL) reported a larger operating loss as it invests heavily in drug development. For the three months ended October 31, 2025, revenue was modest at $240,000, mainly from product and rental income, while research and development expenses rose sharply to $7.5 million from $1.3 million a year earlier. Total operating expenses drove a loss from operations of $10.1 million and a net loss attributable to Rafael of $9.8 million, or $0.19 per share.
The company ended the quarter with $45.5 million in cash and cash equivalents and total assets of $105.4 million, down from $114.1 million at July 31, 2025, reflecting cash used to fund operations. Management states this cash balance is expected to cover obligations for at least the next 12 months. Rafael is now primarily a biotechnology platform centered on Trappsol® Cyclo™ for Niemann-Pick Disease Type C1 following its March 2025 merger with Cyclo, supplemented by majority stakes in LipoMedix, Cornerstone, Rafael Medical Devices, and Day Three.