Bimergen Energy | 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 -0.71.

EBIT: As of FY2026 Q1, the actual value is USD -3.778 M.

Segment Revenue

Bimergen Energy Corporation generated no revenue from its primary business for the three months ended March 31, 2026, and March 31, 2025.

Operational Metrics

• Gross Profit: The company reported a gross profit of $0 for both the three months ended March 31, 2026, and March 31, 2025.
• Total Operating Expenses: Total operating expenses increased to $3,764,629 for the three months ended March 31, 2026, from $857,037 for the three months ended March 31, 2025, marking a 339% increase.
  • Salaries and Payroll Expenses: Increased to $188,000 in Q1 2026 from $178,000 in Q1 2025.
  • Legal Fees: Significantly increased to $158,775 in Q1 2026 from $3,266 in Q1 2025.
  • Stock-based compensation: Increased to $2,564,000 in Q1 2026 from $313,000 in Q1 2025.
  • Investors Relations: Decreased to $93,390 in Q1 2026 from $120,151 in Q1 2025.
  • Audit Costs: Increased to $109,890 in Q1 2026 from $38,000 in Q1 2025.
  • Contract Services: Increased to $165,194 in Q1 2026 from $149,505 in Q1 2025.
  • Rent: Increased to $11,477 in Q1 2026 from $0 in Q1 2025.
  • Other Taxes: Increased to $192,921 in Q1 2026 from $0 in Q1 2025.
  • Other operating expenses: Increased to $280,982 in Q1 2026 from $55,115 in Q1 2025.
• Loss from Operations: Increased to - $3,764,629 for the three months ended March 31, 2026, from - $857,037 for the three months ended March 31, 2025, a 339% increase.
• Total Other Income (Expense): Was $13,024 for the three months ended March 31, 2026, compared to - $607 for the same period in 2025, an increase of 2,247%.
• Net Loss: Increased to - $3,751,605 for the three months ended March 31, 2026, from - $857,644 for the three months ended March 31, 2025, a 337% increase.

Cash Flow

• Net Cash Used in Operating Activities: Was - $2,921,390 for the three months ended March 31, 2026, compared to - $142,452 for the three months ended March 31, 2025.
• Net Cash Provided by Financing Activities: Was $11,428,413 for the three months ended March 31, 2026, primarily due to $12.3 million net cash proceeds from the February 2026 offering, partially offset by - $0.8 million repayment of related-party short-term loans. This compares to $82,850 provided in the prior year period.
• Cash and Cash Equivalents at End of Period: Increased to $8,908,226 at March 31, 2026, from $401,203 at December 31, 2025.

Unique Metrics

• Working Capital: As of March 31, 2026, Bimergen Energy Corporation had working capital of $6.3 million, an improvement from - $4.5 million as of December 31, 2025.
• Intangible Assets: Remained at $23,900,520 at March 31, 2026, and December 31, 2025, including development project intangible assets from the Emergen Energy LLC acquisition.
• Deferred Revenue: Remained at $4,757,500 at March 31, 2026, and December 31, 2025, including a $3.6 million payment from Gridspan and a $943,500 deposit from a Project Sale Agreement with Bridgelink.
• Unrecognized Stock-based Compensation Related to Stock Options: Approximately $4.9 million is expected to be recognized over the next 2.0 years.

Future Outlook and Strategy

Bimergen Energy Corporation aims to become a grid-balancing operator by developing and operating a diversified portfolio of Battery Energy Storage System (BESS) and solar energy projects, leveraging long-term contracted tolling agreements for stable revenue and pursuing project-level financing for its Redbird and Wildfire projects. The company has a contractual capital commitment of up to $5.0 million in the RelyEZ joint venture. While current financing activities support short-term growth, the ability to fund operations and development projects is contingent on securing additional debt or equity financing, subject to economic conditions.