Revenue: As of FY2026 Q1, the actual value is USD 398 K, beating the estimate of USD 323 K.EPS: As of FY2026 Q1, the actual value is USD -0.19, missing the estimate of USD -0.1725.EBIT: As of FY2026 Q1, the actual value is USD -4.814 M.Longeveron Inc. operates as a single segment, with net loss serving as the measure of segment profit or loss. <h4>Revenue</h4>Total revenues for the three months ended March 31, 2026, were $398 thousand, an increase of $17 thousand or 4.5% compared to $381 thousand for the same period in 2025. Clinical trial revenue increased by $0.1 million or 46% to $378 thousand in 2026 from $259 thousand in 2025. Contract manufacturing revenue decreased by $0.1 million or 84% to $20 thousand in 2026 from $116 thousand in 2025. Contract manufacturing lease revenue was $0 thousand in 2026, down from $6 thousand in 2025. <h4>Operational Metrics</h4>Cost of revenues was $134 thousand for the three months ended March 31, 2026, compared to $106 thousand for the same period in 2025. Gross profit was $264 thousand in 2026, a decrease of $11 thousand from $275 thousand in 2025. Total operating expenses decreased by $417 thousand to $5,039 thousand in 2026 from $5,456 thousand in 2025. General and administrative expenses decreased by $221 thousand or 7% to $2,720 thousand in 2026 from $2,941 thousand in 2025. Research and development expenses decreased by $196 thousand or 8% to $2,319 thousand in 2026 from $2,515 thousand in 2025. Employee compensation and benefits for R&amp;D were $1,255 thousand in 2026, down from $1,341 thousand in 2025. Clinical trial expenses increased to $498 thousand in 2026 from $365 thousand in 2025. Amortization for R&amp;D was $67 thousand in 2026, compared to $233 thousand in 2025. Loss from operations improved to -$4,775 thousand in 2026 from -$5,181 thousand in 2025. Other income was $39 thousand in 2026, a decrease of $131 thousand or 77% from $170 thousand in 2025. Net loss for the three months ended March 31, 2026, was -$4,736 thousand, an improvement of $275 thousand or 6% compared to -$5,011 thousand for the same period in 2025. As of March 31, 2026, the accumulated deficit was -$137,047 thousand, compared to -$132,311 thousand as of December 31, 2025. Total stockholders’ equity was $16,027 thousand as of March 31, 2026, an increase from $5,675 thousand as of December 31, 2025. <h4>Cash Flow</h4>Net cash used in operating activities was -$4,370 thousand for the three months ended March 31, 2026, compared to -$4,697 thousand for the same period in 2025. Net cash used in investing activities was -$20 thousand in 2026, down from -$150 thousand in 2025. Net cash provided by financing activities was $15,487 thousand in 2026, a significant increase from net cash used in financing activities of -$58 thousand in 2025. The change in cash and cash equivalents was an increase of $11,097 thousand in 2026, compared to a decrease of -$4,905 thousand in 2025. Cash and cash equivalents at the end of the period were $15,758 thousand in 2026, up from $4,661 thousand at the beginning of the period. <h4>Unique Metrics</h4>As of March 31, 2026, 22,434,760 warrants to purchase Class A common stock remained outstanding. Total outstanding (unvested) Restricted Stock Units (RSUs) were 1,135,034 as of March 31, 2026, down from 1,209,738 as of December 31, 2025. Stock options outstanding totaled 837,887 as of March 31, 2026, with a weighted average exercise price of $2.61 per share. <h4>Future Outlook and Strategy</h4>Longeveron Inc. expects its cash and cash equivalents of $15.8 million as of March 31, 2026, including proceeds from a recent Private Placement, to fund operations into the fourth quarter of 2026. The company plans to continue increasing spending for research and development, preclinical and clinical activities, and seeking marketing approval for its investigational product candidate, laromestrocel. This includes ramping up Biologics License Application (BLA) enabling activities for Hypoplastic Left Heart Syndrome (HLHS) and pursuing a potential BLA filing with the FDA and a commercialization partner if the ELPIS II trial is successful. For Alzheimer’s Disease (AD), the company is seeking partnership opportunities and/or non-dilutive funding for a proposed single, seamless adaptive Phase 2⁄3 clinical trial. The company intends to seek additional financing through capital raises, non-dilutive funding options, and commercial partnering across all indications, acknowledging substantial doubt about its ability to continue as a going concern without additional funds.

Longeveron | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 398 K