ENDRA Life Sciences Reports First Quarter 2026 Financial Results and Provides Business Update

Published: 2026-05-18 08:01:06 ET NDRA

Published on 05/18/2026 at 08:01 am EDT

ENDRA Life Sciences Inc. (NASDAQ: NDRA) (“ENDRA” or the “Company”), a pioneer in thermoacoustic biomarker imaging for early detection and monitoring of steatotic liver disease (SLD), today reported financial results for the quarter ended March 31, 2026, and provided a business update.

Business Update

Management Commentary

“During the first quarter, we continued to strengthen the clinical foundation for TAEUS Liver while maintaining disciplined operational execution,” said Alexander Tokman, CEO of ENDRA Life Sciences. “The recently announced multi-site validation data demonstrated strong agreement with MRI-PDFF across operators and patient populations. These data reinforce our belief that TAEUS Liver has the potential to deliver a practical, point-of-care solution for the large and growing population affected by steatotic liver disease. We remain focused on advancing our regulatory and commercialization strategy while managing our resources carefully.”

First Quarter 2026 Financial Results

In the first quarter of 2026, cash used in operations decreased to $1.1 million from $1.3 million in the same period of 2025.

Total operating expenses for the first quarter of 2026 were $2.2 million compared with $1.5 million in the prior-year period. The increase included an increase in non-cash stock-compensation expense of $491,000 and an increase of $302,000 in long-term prepaid expenses associated with clinical learnings related to the TAEUS Liver device. As a result, the net loss in the first quarter of 2026 was $1.3 million compared to $1.0 million in the same quarter last year.

As of March 31, 2026, ENDRA had approximately $356,000 in cash and cash equivalents and held approximately $2.4 million in its Digital Asset Treasury, representing an additional component of its capital management strategy.

About ENDRA Life Sciences Inc.

ENDRA Life Sciences is the pioneer of Thermo Acoustic Enhanced UltraSound (TAEUS®), a ground-breaking technology being developed to assess tissue fat content and monitor tissue ablation during minimally invasive procedures, at the point of patient care. TAEUS® is focused on the measurement of fat in the liver as a means to assess and monitor steatotic liver disease and metabolic dysfunction-associated steatohepatitis, chronic liver conditions that affect over two billion people globally, and for which there are no practical diagnostic tools. Our press releases and financial and other material information are routinely posted to and accessible on the Investors section of our website, www.endrainc.com.

Forward-Looking Statements

All statements in this press release that are not based on historical fact are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements—based on certain assumptions and describing our future plans, strategies, and expectations—can generally be identified by the use of terms such as “approximate,” “anticipate,” “attempt,” “believe,” “can,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “hope,” “intend,” “may,” “plan,” “possible,” “potential,” “project,” “seek,” “should,” “will,” “would,” or other comparable terms (including the negative of any of the foregoing), although some forward-looking statements are express differently. Each forward-looking statement contained in this release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement.

Applicable risks and uncertainties include, among others: expectations regarding our treasury strategy and our ability to execute it successfully; our limited commercial experience, limited cash resources, and history of losses; our ability to obtain adequate financing to fund operations in the future; our ability to regain and maintain compliance with Nasdaq listing standards; delays or changes in regulatory requirements, policies, or guidelines; the repeatability of clinical results across larger trial populations; potential delays in submitting required regulatory applications or other submissions to, or receiving approvals from, the U.S. Food and Drug Administration (“FDA”) or other regulatory agencies; our ability to obtain and maintain required CE mark certifications and secured required FDA and other governmental approvals for our Thermo Acoustic Enhanced Ultrasound (“TAEUS®”) applications; our ability to develop commercially viable products based on our TAEUS® technology; market acceptance of our technology; the effect of macroeconomic conditions on our business; results of studies, which may be negative or inconclusive; our ability to secure and maintain development partners; reliance on third parties, collaborations, strategic alliances, and licensing arrangements; the competitive landscape in the healthcare industry; our ability to protect our intellectual property; changes in healthcare industry practices or reimbursement policies; our ability to comply with regulations from federal, state, local, and foreign governmental agencies; risks related to shifts in regulatory, accounting, or tax treatment affecting our treasury activities; the potential impact of any changes in financial reporting requirements; the risk that our stock price may be affected by the performance or valuation of assets held in our treasury; a determination that we are an investment company under the Investment Company Act of 1940; our ability to achieve profitability; our dependence on key members of management; and other risks and uncertainties described in the Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.

You should not rely on forward-looking statements as predictions of future events. Forward-looking statements in this press release speak only as of the date of issuance, and ENDRA assumes no obligation to update such statements to reflect actual results or changes in expectations, except as required by law.

[Financial Tables Follow]

ENDRA Life Sciences Inc. Condensed Consolidated Balance Sheets (unaudited)

March 31,

December 31,

2026

2025

(Unaudited)

Assets

Current Assets

Cash

356,462

762,365

Prepaid expenses

180,204

205,604

Total Current Assets

536,666

967,969

Non-Current Assets

Fixed assets, net

33,024

42,516

Right of use assets

431,725

461,949

Prepaid expenses, long term

365,417

Digital Assets

2,430,781

2,009,960

Other assets

5,986

Total Assets

3,438,182

3,853,797

Liabilities and Stockholders’ Equity

Current Liabilities

Accounts payable and accrued liabilities

701,487

621,578

Lease liabilities, current portion

133,953

129,378

Total Current Liabilities

835,440

750,956

Long Term Debt

Lease liabilities

327,253

362,974

Warrant Liability

488,604

479,747

Total Long Term Debt

815,857

842,721

Total Liabilities

1,651,297

1,593,677

Commitments and Contingencies

Stockholders’ Equity

Series A Convertible Preferred Stock, $0.0001 par value; 10,000 shares authorized; 17.488 and 17.488 shares issued and outstanding, respectively

Series B Convertible Preferred Stock, $0.0001 par value; 1,000 shares authorized; no shares issued and outstanding

Series C Convertible Preferred Stock, $0.0001 par value; 100,000 shares authorized; no shares issued and outstanding

Common stock, $0.0001 par value; 1,000,000,000 shares authorized; 1,240,751 and 1,176,477 shares issued and outstanding, respectively

122

116

Additional paid in capital

113,563,705

112,725,513

Accumulated deficit

(111,776,942

)

(110,465,509

)

Total Stockholders’ Equity

1,786,885

2,260,120

Total Liabilities and Stockholders’ Equity

3,438,182

3,853,797

ENDRA Life Sciences Inc. Condensed Consolidated Statement of Operations (Unaudited)

Three Months Ended

March 31,

2026

2025

Operating Expenses

Research and development

776,410

528,685

Sales and marketing

4,278

68,991

General and administrative

1,393,060

871,606

Total operating expenses

2,173,748

1,469,282

Operating loss

(2,173,748

)

(1,469,282

)

Other (expenses) income

Other income

351

24,390

Digital asset staking compensation

11,060

Unrealized gain on change in fair value of digital assets

738,177

Realized gain on change in fair value of digital assets

121,584

Changes in fair value of warrant liability

(8,857

)

408,562

Total other (expenses) income

862,315

432,952

Loss from operations before income taxes

(1,311,433

)

(1,036,330

)

Provision for income taxes

Net Loss

(1,311,433

)

(1,036,330

)

Net loss per share – basic and diluted

(1.09

)

(1.86

)

Weighted average common shares – basic and diluted

1,199,586

557,582

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