Every 10-Q that Unusual Machines (UMAC) 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 UMAC 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 UMAC filings page.
Unusual Machines, Inc., a commercial drone company, reported rapid growth for the quarter and six months ended June 30, 2026. Revenue reached $16.7 million in Q2 and $24.8 million year‑to‑date, up sharply from $2.1 million and $4.2 million in 2025, driven mainly by enterprise customers.
The business remains loss‑making on an operating basis, with an operating loss of $7.8 million in Q2 and $15.1 million for the first half, on operating expenses of $23.5 million that include $9.6 million of stock‑based compensation. Nevertheless, first‑half net income was $2.5 million versus a $10.2 million loss a year earlier, helped by $17.6 million of interest and investment gains, including $9.5 million realized and $5.6 million unrealized on short‑term securities.
Liquidity is substantial: cash was $229.6 million with $39.3 million of short‑term investments at fair value and $47.5 million at cost, against total liabilities of $9.5 million and stockholders’ equity of $388.0 million. Cash was bolstered by a $150.0 million confidentially marketed offering at $17 per share and a $60.0 million at‑the‑market sale at $30 per share. Inventory and prepaid inventory expanded to $42.5 million as the company scales manufacturing and fulfillment capacity, including its Rotor Lab motor operation and multiple new Orlando facilities. Subsequent events include large performance‑based equity awards for executives and employees and a definitive agreement signed on May 7, 2026 to acquire DroneNX, LLC, which operates as Upgrade Energy.
Unusual Machines reported a sharp turnaround in Q1 2026. Revenue rose to $8.1 million from $2.0 million a year earlier, driven by B2B sales of NDAA- and Blue UAS-compliant drone components. Gross margin improved to 32.8% from 24.3%.
The company moved from a net loss of $3.3 million to net income of $10.3 million, helped by $17.5 million of realized and unrealized gains on short-term equity investments and higher interest income. Operating expenses more than doubled as it ramped headcount, manufacturing and public-company costs, including $3.9 million of stock-based compensation.
Cash and cash equivalents increased to $222.9 million, supported by a confidentially marketed equity offering that raised about $150 million gross. Unusual Machines is scaling inventory and facilities for motors, headsets and other components and signed a definitive agreement to acquire battery maker Upgrade Energy for an estimated $52 million, subject to closing conditions.
Unusual Machines (UMAC) reported Q3 2025 results, showing a shift to profitability for the quarter alongside a stronger balance sheet. Revenue was $2,134,588 with gross margin of $840,388. The company recorded net income of $1,603,465, largely aided by unrealized gains in short‑term investments of $5,849,713 and interest income. For the first nine months, revenue reached $6,300,857 and the company posted a net loss of $8,627,553 as operating expenses increased with growth investments.
Liquidity expanded meaningfully: cash and cash equivalents were $64,285,750 and short‑term investments were $16,849,713, bringing total cash and investments to $81,135,465. Net cash from financing activities was $84,378,076 year‑to‑date, reflecting public equity raises and warrant/option exercises. Deferred revenue rose to $1,518,736, signaling orders not yet fulfilled.
UMAC closed the acquisition of Rotor Lab on September 3, 2025 for initial consideration valued at $5,922,911, with up to $3,000,000 in contingent consideration. Shares outstanding were 31,568,949 at September 30, 2025.