--- title: "Bullfrog AI | 10-Q: FY2026 Q1 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/286460967.md" datetime: "2026-05-14T20:13:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286460967.md) - [en](https://longbridge.com/en/news/286460967.md) - [zh-HK](https://longbridge.com/zh-HK/news/286460967.md) --- # Bullfrog AI | 10-Q: FY2026 Q1 Revenue: USD 0 Revenue: As of FY2026 Q1, the actual value is USD 0. EPS: As of FY2026 Q1, the actual value is USD -0.12. EBIT: As of FY2026 Q1, the actual value is USD -1.63 M. #### Operational Metrics - **Net Loss**: Bullfrog AI Holdings, Inc. reported a net loss of - $1,593,161 for the three months ended March 31, 2026, an improvement from a net loss of - $2,017,553 for the same period in 2025. - **Net Loss Per Common Share**: The net loss per common share was - $0.12 in 2026, compared to - $0.21 in 2025. - **Weighted Average Shares Outstanding**: The weighted average number of shares outstanding increased to 12,948,732 in 2026 from 9,689,812 in 2025. - **Operating Expenses**: Total operating expenses decreased by - $441,993, totaling $1,614,627 in 2026 compared to $2,056,620 in 2025. - **Research and Development**: Decreased by - $141,441, from $576,260 in 2025 to $434,819 in 2026, primarily due to the absence of severance obligations and target discovery and validation efforts. - **General and Administrative**: Decreased by - $300,552, from $1,480,360 in 2025 to $1,179,808 in 2026, mainly due to reduced personnel costs and non-cash stock-based compensation expense. - **Other Income (Expense), Net**: Decreased in 2026 compared to 2025, primarily due to a reduction in interest income earned on cash held in an overnight sweep account, resulting from a decrease in the average cash balance. #### Cash Flow - **Net Cash Used in Operating Activities**: - $1,694,088 for the three months ended March 31, 2026, which was materially unchanged from - $1,798,125 in the same period of 2025. - **Net Cash Used in Investing Activities**: There was no cash used in investing activities in either period. - **Net Cash Provided by Financing Activities**: $4,590,846 for the three months ended March 31, 2026, a significant increase from $164,070 in 2025, primarily due to proceeds from common stock sales under the ATM Agreement and ELOC Facility. - **Net Increase (Decrease) in Cash and Cash Equivalents**: Resulted in an increase of $2,896,758 in 2026, compared to a decrease of - $1,634,055 in 2025. #### Liquidity and Capital Resources - **Accumulated Deficit**: As of March 31, 2026, Bullfrog AI Holdings, Inc. had an accumulated deficit of approximately - $24.9 million. - **Cash Balance**: As of March 31, 2026, the company had a cash balance of approximately $5.2 million, including $0.1 million in restricted cash. - **Going Concern**: Management anticipates current cash and cash equivalents will be sufficient to fund planned operations for at least one year, but this is subject to significant assumptions and uncertainties, potentially requiring additional capital sooner, which raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern depends on utilizing existing financing facilities or obtaining additional financing or revenues. - **ATM Agreement Proceeds**: Bullfrog AI Holdings, Inc. received approximately $1.9 million in net cash proceeds from common stock sales under its At-The-Market Sales Agreement during the three months ended March 31, 2026, with approximately $4.3 million in additional sales capacity available. - **ELOC Facility Proceeds**: Under its Equity Line of Credit Facility, the Company sold common stock for net cash proceeds of approximately $5.8 million, with $2.5 million received during the quarter and an additional $3.3 million received on April 1, 2026. Approximately $4.1 million of capacity remains under the ELOC Facility, subject to filing a new registration statement. #### Future Outlook and Strategy Bullfrog AI Holdings, Inc.’s strategy focuses on generating revenue through strategic partnerships with biopharma companies and acquiring rights to late-stage failed drugs. The company plans to use its proprietary AI/ML technology to advance the development of acquired late-stage failed drugs, aiming to create near-term value and monetize these assets within approximately 30 months. Additionally, Bullfrog AI Holdings, Inc. regained compliance with Nasdaq’s Stockholders’ Equity Rule as of April 21, 2026, but is subject to a one-year monitoring period and must regain compliance with the Bid Price Rule by August 10, 2026, potentially through a reverse stock split. ### Related Stocks - [BFRG.US](https://longbridge.com/en/quote/BFRG.US.md) ## Related News & Research - [Sharon AI Appoints Mr. Andrew Penn as Chairman of the Board of Directors | SHAZ Stock News](https://longbridge.com/en/news/287210261.md) - [Cranium AI Acquires Aiceberg to Strengthen its End-to-End AI Security, Governance and Agentic AI Platform](https://longbridge.com/en/news/287239841.md) - [How Beaten-Down Tempus AI Stock Offers a Lottery Ticket for Traders Here](https://longbridge.com/en/news/286786866.md) - [AI video is moving beyond clip slop](https://longbridge.com/en/news/287247597.md) - [Intelligent Protection Management Corp. 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