EMAT reports Q1 2026 net loss of $441.6M, expects Nasdaq non-compliance notice for delayed 10-Q

Evolution Metals & Technologies Corp.

Net loss of $441.6M ($0.72 diluted EPS) driven by $425.2M non-cash fair value change on financial instruments.
Revenue of $1.9M, gross profit $445K; operating loss $16.9M on $17.3M SG&A expenses.
Company will miss Rule 12b-25 extension for Q1 10-Q filing due to overseas equipment purchase accounting complexities.
Expects Nasdaq non-compliance notice but believes grace period will apply; no immediate impact on listing.
Cash $5.4M, total assets $85.5M, stockholders' deficit $24.6M highlighting liquidity constraints.

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