I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q2, the actual value is USD 150 K, beating the estimate of USD 149 K.
EPS: As of FY2026 Q2, the actual value is USD -0.15, missing the estimate of USD -0.1387.
EBIT: As of FY2026 Q2, the actual value is USD -46.44 M.
Liquidity
ProKidney Corp. concluded Q2 2026 with $181.6 million in cash, cash equivalents, and marketable securities, a decrease from $224.9 million as of March 31, 2026. Cash and cash equivalents were $74,868 thousand as of June 30, 2026, down from $108,537 thousand as of December 31, 2025. Marketable securities totaled $106,696 thousand as of June 30, 2026, compared to $161,480 thousand as of December 31, 2025. These resources are projected to support operations into mid-2027.
Revenue
Revenue for the three months ended June 30, 2026, was $150 thousand, decreasing from $221 thousand for the same period in 2025. For the six months ended June 30, 2026, revenue was $376 thousand, down from $451 thousand for the six months ended June 30, 2025.
Operating Expenses
Research and Development (R&D) Expenses
R&D expenses were $36.1 million for the three months ended June 30, 2026, an increase of $10.2 million from $25.9 million for the same period in 2025, primarily due to an $8.7 million rise in clinical study and related manufacturing costs for the PROACT 1 study. For the six months ended June 30, 2026, R&D expenses were $69,937 thousand, up from $53,145 thousand in the prior year period.
General and Administrative (G&A) Expenses
G&A expenses decreased to $12.4 million for the three months ended June 30, 2026, from $14.0 million for the same period in 2025, a $1.6 million decrease mainly attributable to reductions in compensation costs, equity-based award forfeitures, severance costs, and professional fees. For the six months ended June 30, 2026, G&A expenses were $23,745 thousand, down from $28,403 thousand in the prior year period.
Total Operating Expenses
Total operating expenses for the three months ended June 30, 2026, were $48,523 thousand, up from $39,930 thousand in the corresponding period of 2025. For the six months ended June 30, 2026, total operating expenses were $93,682 thousand, compared to $81,548 thousand for the same period in 2025.
Operating Loss
Operating loss for the three months ended June 30, 2026, was - $48,373 thousand, compared to - $39,709 thousand for the same period in 2025. For the six months ended June 30, 2026, operating loss was - $93,306 thousand, versus - $81,097 thousand for the six months ended June 30, 2025.
Net Loss Before Noncontrolling Interest
Net loss before noncontrolling interest was - $46.4 million for the three months ended June 30, 2026, compared to - $37.0 million for the same period in 2025. For the six months ended June 30, 2026, net loss before noncontrolling interest was - $89,057 thousand, compared to - $74,917 thousand for the six months ended June 30, 2025.
Cash Flow from Operating Activities
Net cash flows used in operating activities for the six months ended June 30, 2026, were - $82,058 thousand, an increase from - $61,008 thousand for the same period in 2025.
Shares Outstanding
Class A and Class B common stock outstanding totaled 302,312,504 shares as of June 30, 2026.
Operational Metrics
ProKidney Corp. completed enrollment of patients contributing to the Phase 3 PROACT 1 accelerated approval efficacy analysis. The company also appointed Kenneth Locke as Chief Technical Officer in June 2026.
Outlook / Guidance
ProKidney Corp. anticipates pivotal eGFR slope topline results for the PROACT 1 accelerated approval efficacy analysis in Q2 2027. The company expects to complete full enrollment for PROACT 1, targeting approximately 470 patients, in the second half of 2026, with topline results for the confirmatory composite time-to-event analysis expected in the second half of 2029. Current cash, cash equivalents, and marketable securities are projected to fund operations into mid-2027.