Vivic Corp. | 10-Q: FY2026 Q3 Revenue: USD 0
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q3, the actual value is USD 0.
EPS: As of FY2026 Q3, the actual value is USD -0.002.
EBIT: As of FY2026 Q3, the actual value is USD -50.1 K.
Segment Revenue
Vivic Corp. reported no revenue for the three months ended March 31, 2026, and March 31, 2025, respectively, and for the nine months ended March 31, 2026. For the nine months ended March 31, 2025, revenue was $44,243, primarily from the sale of yacht models to a director for marketing purposes, which was below cost.
Operational Metrics
Net Loss
- For the three months ended March 31, 2026, net loss was -$51,815, representing a decrease of $898,992 or 94.55% compared to -$950,807 in the prior year period.
- For the nine months ended March 31, 2026, net loss was -$552,765, a decrease of $1,945,235 or 77.87% compared to -$2,498,000 in the prior year period.
Gross Loss
- Gross loss was $0 for the three months ended March 31, 2026, and 2025, and for the nine months ended March 31, 2026, due to no sales.
- For the nine months ended March 31, 2025, gross loss was -$84,341, resulting from selling yacht models below cost for marketing purposes.
Loss from Operations
- Loss from operations was -$50,959 for the three months ended March 31, 2026, a decrease of $893,719 or 94.61% compared to -$944,678 in the prior year period.
- For the nine months ended March 31, 2026, loss from operations was -$550,067, a decrease of $1,814,883 or 76.74% compared to -$2,364,950 in the prior year period.
Total Operating Expenses
- Total operating expenses were $50,959 for the three months ended March 31, 2026, a decrease of $893,719 or 94.61% compared to $944,678 in the prior year period.
- For the nine months ended March 31, 2026, total operating expenses were $550,067, a decrease of $1,730,542 or 75.88% compared to $2,280,609 in the prior year period.
Breakdown of Operating Expenses (YoY Comparison)
- General and Administrative Expenses: Decreased by 63.20% to $42,459 for the three months ended March 31, 2026, from $115,386 in 2025, primarily due to reduced professional fees, payroll, and OTC listing fees. For the nine months ended March 31, 2026, these expenses decreased by 65.82% to $206,406 from $603,950 in 2025, mainly due to reductions in professional fees, subcontract labor, and payroll expenses.
- Stock-Based Compensation: Decreased by 98.98% to $8,500 for the three months ended March 31, 2026, from $829,292 in 2025. For the nine months ended March 31, 2026, it decreased by 79.50% to $343,661 from $1,676,659 in 2025.
Other Income (Expenses), Net
- Other income (expenses), net, was -$856 for the three months ended March 31, 2026, primarily due to interest expense, compared to -$6,129 in the prior year period, which was mainly interest expense partly offset by other income.
- For the nine months ended March 31, 2026, it was -$2,698, consisting of $2,727 in other income partly offset by $5,425 in interest expense, compared to -$132,312 in the prior year period, which primarily included $22,091 in interest expense and $110,221 in other expenses.
Cash Flow
Net Cash Used in Operating Activities
- Net cash used in operating activities was -$304,578 for the nine months ended March 31, 2026, compared to -$511,134 for the nine months ended March 31, 2025.
Net Cash Provided by Financing Activities
- Net cash provided by financing activities was $275,954 for the nine months ended March 31, 2026, sourced from proceeds from related parties ($1,539,785) partly offset by repayments to related parties ($711,574) and third-party loans ($552,257).
- For the nine months ended March 31, 2025, it was $262,129, from proceeds from related party advances ($556,048) and third-party loan proceeds ($123,073), partly offset by repayments to related parties ($278,535) and loan repayments ($138,457).
Unique Metrics
Vivic Corp. no longer reflects a 15% “VIVIC” brand usage fee from Weiguan Ship in current revenue, following the divestiture of Weiguan Ship in July 2023 and the cessation of Vivic Taiwan operations.
Future Outlook and Strategy
Vivic Corp. plans to concentrate its operations in the United States and Southeast Asia, discontinuing its pursuit of the Taiwan market, and focusing on promoting sales in its U.S. entity. The company aims to expand its yacht brands and marketing territories, and seek exclusive distributorships, while also entering other profitable marine industry areas such as an Electric Catamaran Yacht Co-Development Agreement with Acel Power Inc. Working capital requirements are expected to be funded through existing funds, cash from operations, loans or equity issuances from principal shareholders, and additional financing for business development and marketing.