Every 10-Q that ZRCN INC (ZRCN) 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 ZRCN 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 ZRCN filings page.
ZRCN Inc. reported net sales of $5.733 million for the three months ended June 30, 2026, down 5% from $6.062 million a year earlier. Gross profit rose 45% to $1.999 million from $1.378 million, as lower tariff expense contributed to the increase. Net loss was $1.455 million, compared with $1.934 million, and operating cash use was $1.231 million versus $42,000.
At June 30, cash was $79,000, working capital was $3.7 million, and additional borrowing capacity was $4.3 million. Management said existing cash and borrowing capacity would be insufficient to meet anticipated needs over the next 12 months, raising substantial doubt about continuing as a going concern without additional management actions. The lender waived the financial-statement-delivery default on a one-time basis; financial covenants will be enforced beginning in September 2026 after a waiver through August 31, 2026.
Disclosure controls were ineffective at June 30 due to significant deficiencies involving segregation of duties and written procedures. ZRCN hired a Corporate Controller and began documenting policies and procedures. After quarter-end, it received tariff refunds of approximately $0.7 million in July and $1.0 million in September.
ZRCN Inc. reports a sharp deterioration in results for the nine months ended December 31, 2025, and discloses “substantial doubt” about its ability to continue as a going concern. Revenue was $22.6 million, roughly flat year over year, but gross margin fell to 31% from 42% as tariff-driven duty costs on China-sourced products rose by about $2.0 million.
The company posted a net loss of $3.9 million versus a small prior-year loss, and equity dropped to $2.0 million from $5.5 million as of March 31, 2025. Cash declined to $0.7 million with slightly negative working capital, while three customers accounted for 69% of revenue and 74% of accounts receivable.
ZRCN was out of compliance with covenants under its prior FGI revolving credit facility and operated under multiple forbearance agreements. In March 2026 it refinanced into a $12.5 million senior secured revolving credit facility maturing in 2029, with financial covenants currently waived through August 31, 2026, but management still does not believe existing cash and credit are sufficient for the next 12 months.
ZRCN Inc. reported revenue of $15.5 million for the six months ended September 30, 2025, up slightly from $15.2 million a year earlier, but gross margin fell to 27% from 42% as tariff-related costs sharply increased.
The company posted a six‑month net loss of $2.5 million versus $0.1 million previously, and equity declined to $3.2 million from $5.5 million. Cash was only $40,000 with working capital of $1.23 million and $8.9 million outstanding on its revolving credit facility, leading management to state that substantial doubt exists about its ability to continue as a going concern.
During and after the period, ZRCN entered multiple forbearance agreements over covenant breaches and later refinanced its prior $15.0 million facility with a new $12.5 million senior secured revolver maturing in 2029, with financial covenants currently waived through August 31, 2026. The company also expects a federal tax refund of about $215,000 from new U.S. legislation on research expenses.
ZRCN Inc. reported higher quarterly revenue but sharply weaker profitability for the three months ended June 30, 2025. Net sales rose to $6.1 million from $5.8 million, driven mainly by increased orders from a major customer.
Gross margin fell to 22.7% from 40.5% as U.S. tariffs under IEEPA increased duty expense to about $1.4 million versus $0.3 million a year earlier. ZRCN posted a net loss of $1.9 million compared with a $0.6 million loss, and cash declined to $0.7 million with working capital of $1.8 million.
The company discloses substantial doubt about its ability to continue as a going concern, citing recurring losses, tariff-driven cost pressure, and covenant noncompliance under its prior FGI credit facility. Subsequent to quarter-end, it replaced that facility with a $12.5 million secured revolver from Altriarch and obtained covenant waivers through August 31, 2026. Management also reports material weaknesses in internal control over financial reporting and has begun remediation, including hiring a Corporate Controller and formalizing key policies.