Revenue: As of FY2026 Q1, the actual value is USD 0.

EPS: As of FY2026 Q1, the actual value is USD -0.41.

Financial Results for Three Months Ended March 31, 2026, and 2025

Segment Revenue

• Duke Robotics did not record revenues for the three months ended March 31, 2026, which was consistent with the same period in 2025, reflecting the seasonal nature of the IC Drone service.

Operational Metrics

• Cost of Revenues: The cost of revenues was - $33,000 for the three months ended March 31, 2026, compared to - $8,000 for the same period in 2025, primarily due to infrastructure and operational readiness costs.
• Gross Loss: The company reported a gross loss of - $33,000 for the three months ended March 31, 2026, an increase from - $8,000 in the same period of 2025.
• Research and Development (R&D) Expenses: R&D expenses were - $29,000 for the three months ended March 31, 2026, up from - $22,000 in the prior year period.
• General and Administrative (G&A) Expenses: G&A expenses increased to - $451,000 for the three months ended March 31, 2026, compared to - $258,000 for the same period in 2025, driven by higher share-based compensation, professional fees for uplisting, and personnel costs.
• Operating Loss: The operating loss for the three months ended March 31, 2026, was - $513,000, compared to an operating loss of - $288,000 for the same period in 2025.
• Financing Expenses, Net: Financing expenses, net, were - $408,000 for the three months ended March 31, 2026, a significant change from financing income, net, of $9,000 in the prior year, primarily due to non-cash changes in the fair value of warrant liability.
• Net Loss: The net loss for the three months ended March 31, 2026, was - $921,000, compared to a net loss of - $279,000 for the same period in 2025.
• Comprehensive Loss: Comprehensive loss was - $920,000 for the three months ended March 31, 2026, compared to - $279,000 for the same period in 2025.

Balance Sheet Highlights

• Cash and Cash Equivalents: Cash and cash equivalents were $475,000 as of March 31, 2026, down from $750,000 as of December 31, 2025.
• Restricted Cash: Restricted cash was $35,000 as of March 31, 2026, compared to $0 as of December 31, 2025.
• Trade Receivables: Trade receivables totaled $16,000 as of March 31, 2026, decreasing from $41,000 as of December 31, 2025.
• Total Current Assets: Total current assets were $813,000 as of March 31, 2026, compared to $907,000 as of December 31, 2025.
• Total Assets: Total assets were $1,117,000 as of March 31, 2026, a decrease from $1,249,000 as of December 31, 2025.
• Total Current Liabilities: Total current liabilities increased to $1,311,000 as of March 31, 2026, from $756,000 as of December 31, 2025.
• Total Liabilities: Total liabilities were $1,690,000 as of March 31, 2026, up from $1,149,000 as of December 31, 2025.
• Total Stockholders’ Equity (Deficit): Total stockholders’ equity (deficit) was - $573,000 as of March 31, 2026, compared to $100,000 as of December 31, 2025.

Unique Financial Metrics

• Initial Royalty Revenue: Duke Robotics received approximately $20,000 in initial royalties from Elbit Systems in the second quarter of 2025, stemming from the collaboration for the ‘Bird of Prey’ Military Drone System.

Operational Metrics and Business Developments

• IEC Contract Expansion: A new purchase order from the Israel Electric Corporation is expected to generate over $1 million in revenue for Duke Robotics during 2026, representing an increase over previous service activity.
• AEROTRACE™ Launch: In February 2026, Duke Robotics launched AEROTRACE™, an AI-powered aerial intelligence platform designed to support utilities and industrial operators, which is intended to generate a recurring, software-style revenue stream.
• Strategic Financing: Subsequent to the quarter end, the company completed an underwritten public offering for gross proceeds of approximately $9.2 million and uplisted to the Nasdaq Capital Market.
• Cash Sufficiency: Following the offering, the company believes its cash resources, combined with projected receipts from existing commercial agreements, are sufficient to support operations well into the second half of 2027.
• Bird of Prey Defense Drone: The Bird of Prey stabilized weapons drone system, a collaboration with Elbit, has been confirmed in operational use by the Israel Defense Forces, providing market validation.

Outlook / Guidance

Duke Robotics anticipates generating over US$1,000,000 in revenue in 2026 from its expanded contract with the Israeli Electric Corporation (IEC) and expects recurring SAAS revenue from its IC Drone and AEROTRACE systems. The recent $9.2 million public offering provides significant funding to accelerate its business plan for both civilian and defense operations. The company’s cash resources, combined with projected receipts, are expected to support operations well into the second half of 2027.