Lifeloc Reports First Quarter 2026 Results and SpinDetect(TM) Development Milestone

Published: 2026-05-15 18:28:08 ET LCTC

Published on 05/15/2026 at 06:28 pm EDT

WHEAT RIDGE, CO / ACCESS Newswire / May 15, 2026 / Lifeloc Technologies, Inc. (OTCID:LCTC), a global leader in the development and manufacturing of breath alcohol and drug testing devices, has announced financial results for the first quarter ended March 31, 2026.

First Quarter Financial Highlights

Lifeloc posted quarterly net revenue of $2.294 million resulting in a quarterly net loss of $(153) thousand, or $(0.06) per diluted share. These results compare to net revenue of $2.277 million and quarterly net loss of ($293) thousand, or ($0.11) per diluted share in the first quarter of 2025. Revenue increased modestly by $17 thousand, or 1%, versus the first quarter last year. Gross margin in the first quarter improved to 43% versus 40% last year, due primarily to increased pricing and a favorable product mix. Research and Development investment declined from last year, although it remains high at more than 18% of revenue, primarily for the SpinDetect™ Centrifugal Drug Analyzer development. The declining research and development investment and improving margins contributed to a smaller loss for the current period.

We believe our core alcohol detection product line-up is strong. The L-series LX9 and LT7 units have features and performance that drive market penetration by meeting previously unaddressable market needs, such as smart phone pairing, wider temperature use ranges and fast customization that incorporates local languages. We expect that sales of our newer L-series devices will be incremental to FC-series devices rather than displacing FC sales. The L-series devices have been certified to meet the requirements of most modern registration standards, such as SAI's (Standards Australia International) latest AS 3547:2019 standards for Breath Alcohol Detectors. Our FC-series devices remain popular with many law enforcement and international organizations. Our Easycal® automated calibration station, the only automated calibration available for portable breath alcohol testers, builds valuable protection around our brand and has contributed to market share gains across the board, especially for our workplace Phoenix® 6.0 BT and EV 30 devices.

We believe our most significant long-term opportunity lies at the intersection of the global need for rapid, quantitative drug detection and our proven expertise in portable testing instrumentation. Our SpinDetect™ Centrifugal Drug Analyzer - sometimes referred to as "Lab on a Disk" - is designed to address this need, enabling rapid, on-site, quantitative drug testing for use at roadside, in emergency rooms, forensic labs, and workplace testing sites. We have demonstrated the platform's ability to effectively detect delta-9-THC, cocaine, fentanyl, amphetamine/methamphetamine, morphine, MDMA, and benzodiazepines from oral fluid. We have validated our test results against liquid chromatography-mass spectrometry (LC-MS) - the definitive laboratory standard - using real-world human saliva samples, confirming a limit of detection of approximately 10 ng/ml. Disk design represented the primary technical challenge throughout the project, requiring specialized outside expertise and multiple design iterations. We have now sufficiently tested the critical microfluidic and assay elements of the current disk design and completed fabrication of the production mold in this quarter, with first article moldings completed and delivered in April. These first article disks are currently being evaluated for performance and any potential necessary adjustment. Completing the disk production tooling is the last enabling step before beta testing can commence. We have developed reader hardware, firmware, drug assays, and reagent handling in parallel, and these are substantially complete.

Remaining tasks on the path to commercialization include collection device completion, full validation, manufacturing setup, and related ancillary tasks, and we do not anticipate that further technical breakthroughs will be required. Our initial product is planned to enable detection of delta-9-THC from oral fluid, followed by a multi-drug panel disk. We expect subsequent releases to expand to additional drug panels and to samples collected from blood and breath, as well as other applications, as well as selected non-drug applications such as food pathogen detection. We have managed R&D spending to align with cash generated by our core business, and we have sought financing on terms that do not overburden operations or excessively dilute shareholders.

In May 2026, Lifeloc closed on $500,000 of financing, securing a loan from our Chairman of the Board and CFO. This loan is detailed in our most recent 8-K filing, and the key terms are 10.5% interest, adjustable upward based on the prime rate, interest only payments in 2026, followed by monthly payments that will result in the loan being fully paid in 5 years, and no prepayment penalty. After exploring many financing options, these terms were more favorable than financing alternatives available from commercial sources.

"Getting disks from the production mold marks a key milestone in the development of the SpinDetect™ analyzer, allowing us to better validate and demonstrate the technology," commented Dr. Wayne Willkomm, President and CEO. "Oral fluid drug screening will only be the first launching application of this technology platform, to be followed by blood, urine, and sweat applications where supported by market demand and customer preferences. Future plans also call for modifications that will allow us to penetrate other markets, particularly food pathogens."

About Lifeloc Technologies

Lifeloc Technologies, Inc. (OTC:LCTC) is a trusted U.S. manufacturer of evidential breath alcohol testers and related training and supplies for Workplace, Law Enforcement, Corrections and International customers. Lifeloc stock trades over-the-counter under the symbol LCTC. We are a fully reporting Company with our SEC filings available on our web site, www.lifeloc.com.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve substantial risks and uncertainties, including those described in the Company's most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission, that may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements expressed or implied in this press release, including statements about our strategies, expectations about new and existing products, our ability to fund operations and product development, market demand, acceptance of new and existing products, technologies and opportunities, development and commercialization timelines, market size and growth, and return on investments in products and market, are based on information available to us on the date of this document, and we assume no obligation to update such forward-looking statements. Investors are strongly encouraged to review the section titled "Risk Factors" in our SEC filings.

Phoenix® and Easycal® are registered trademarks of Lifeloc Technologies, Inc.

SpinDetect™ is a trademark of Lifeloc Technologies, Inc.

Amy EvansLifeloc Technologies, Inc.http://www.lifeloc.com (303) 431-9500

LIFELOC TECHNOLOGIES, INC.Condensed Balance Sheets with Changes

ASSETS

March 31, 2026 (Unaudited)

December 31, 2025

569,330

746,001

850,341

772,380

2,794,329

2,633,614

55,981

99,282

60,825

4,369,263

4,268,801

317,932

1,928,795

569,448

1,366,539

197,686

230,543

225,173

1,232,790

1,213,195

14,411

19,595

(3,604,323

)

(3,538,455

)

2,253,821

2,299,908

69,134

71,039

46,820

115,954

117,859

6,739,038

6,686,568

LIABILITIES AND STOCKHOLDERS' EQUITY

615,378

301,627

55,271

54,850

34,522

33,371

10,692

25,694

247,670

321,112

54,068

53,716

46,500

1,064,101

836,870

1,044,449

1,058,426

672,274

681,343

7,149

6,151

2,787,973

2,582,790

5,934,314

(1,983,249

)

(1,830,536

)

3,951,065

4,103,778

6,739,038

6,686,568

LIFELOC TECHNOLOGIES, INC.Condensed Statements of (Loss) with Changes

Three Months Ended March 31,

2026

2025

2,289,759

2,263,047

4,053

5,671

8,316

2,293,812

2,277,034

1,306,738

1,368,468

987,074

908,566

414,445

469,680

313,229

334,556

387,402

384,878

1,115,076

1,189,114

(128,002

)

(280,548

)

6,531

12,357

(31,242

)

(24,495

)

(24,711

)

(12,138

)

(152,713

)

(292,686

)

(152,713

)

(292,686

)

(0.06

)

(0.11

)

(0.06

)

(0.11

)

2,752,616

2,694,599

2,752,616

2,694,599

Lifeloc Technologies, Inc.Condensed Statements of Changes in Stockholders' EquityFor The Three Months Ended March 31, 2026 and 2025

2026

2025

Common Stock Shares

Common Stock Amount

Retained Earnings (Accumulated Deficit)

Total

Common Stock Shares

Common Stock Amount

Retained Earnings

Total

2,752,616

5,934,314

(1,830,536

)

4,103,778

2,664,116

5,586,014

639,863

6,225,877

12,000

88,500

336,300

(152,713

)

(152,713

)

(292,686

)

(292,686

)

2,752,616

5,934,314

(1,983,249

)

3,951,065

2,752,616

5,934,314

347,177

6,281,491

LIFELOC TECHNOLOGIES, INC.Condensed Statements of Cash Flows (Unaudited)

Three Months Ended March 31,

CASH FLOWS FROM OPERATING ACTIVITIES:

2026

2025

(152,713

)

(292,686

)

67,773

102,406

6,051

5,171

(77,961

)

(29,156

)

(160,715

)

54,848

(150

)

(38,457

)

(329,643

)

(562

)

313,751

342,625

(15,002

)

80,395

(73,442

)

(49,347

)

1,350

15,742

(129,365

)

(100,357

)

(5,370

)

(19,595

)

(17,348

)

5,184

(1,200

)

(19,781

)

(18,548

)

(14,093

)

(13,684

)

75,000

(13,432

)

336,300

(27,525

)

397,616

(176,671

)

278,711

746,001

1,243,746

569,330

1,522,457

25,191

19,324

150

12,000

SOURCE: Lifeloc Technologies, Inc.