SHARPE
Reported results
- Net loss for FQ1 2027: $3.2 million (FQ1 2026: $2.1 million)
- Loss from operations for FQ1 2027: $2.9 million (FQ1 2026: $1.9 million)
- Shareholders’ deficit as of July 31, 2026: $2.0 million
- Inventory reserve recorded: $0.3 million related to MyoVista wavECG device
- Since period end, company raised gross proceeds of approximately $1.0 million from Fortitude stock purchase and net proceeds of approximately $1.2 million from at-the-market facility sales
- Patent portfolio expanded to more than 45 granted patents
Guidance
- Proposed business combination with Fortitude expected to close in Q4 calendar 2026, subject to customary closing conditions and shareholder approval
Notes
Company reported no meaningful revenue for the quarter. The net loss and operating loss increases were driven by approximately $0.5 million in legal and professional costs associated with the proposed transaction, approximately $0.5 million of non-cash share-based compensation from equity award vesting following Mark Hilz’s passing, and the $0.3 million inventory reserve. Company recorded a reserve against remaining carrying value of MyoVista wavECG device inventory and does not currently intend to commit significant additional resources to commercialization of that device.
Price and volatility reaction
Source
The figures above come from the earnings release the company filed with the SEC on 2026-09-15 (8-K, Item 2.02). Read the original filing on sec.gov.