DUKRW DUKE Robotics Corp.

BEARISH Impact: 6/10 8-K
Horizon weeks Filed May 20, 2026 Processed 24d ago SEC 0001213900-26-059258
8-K Item 2.02: Earnings release
Latest settled — T+5d
DUKRW ▼ -1.08% at T+5d
SHORT call ✓ call won +1.08% · α vs SPY +2.32% · entry $1.85 → $1.83
Next anchor: T+20d in 5d
Currently $1.60 · +13.51% from $1.85 entry (call sign-flipped)
Entry anchored
May 15, 03:58 PM ET
via Databento tick
T+1d
+2.70%
call -2.70% · α -2.51%
$1.90
settled 23d ago
T+5d
-1.08%
call +1.08% · α +2.32%
$1.83
settled 16d ago
T+20d
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in 5d
T+60d
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Executive Summary

DUKE Robotics Corp. reported Q1 2026 results with zero revenue, a net loss of $921,000 ($0.41 per share) compared to a $279,000 loss in Q1 2025, and cash burn reducing reserves to $510,000. The company highlighted a post-quarter $9.2M Nasdaq uplisting offering and an expanded IEC purchase order expected to generate over $1M in 2026 revenue, but the filing shows no current revenue, widening losses, and negative equity of $573,000.

Actionable Insight

The $9.2M Nasdaq offering removes near-term going-concern risk but the company remains pre-revenue with widening losses. Watch for Q2 2026 revenue recognition from the expanded IEC contract to validate the commercial inflection point management claims. The negative equity position and reliance on the recent offering for liquidity are key risk factors.

Key Facts

  • Zero revenue for Q1 2026, consistent with Q1 2025, due to seasonal nature of IC Drone service
  • Net loss widened to $921,000 from $279,000 YoY, driven by higher G&A ($451K vs $258K) and $408K in non-cash warrant liability financing expenses
  • Cash and restricted cash fell to $510,000 as of March 31, 2026, from $750,000 at year-end 2025
  • Post-quarter completed $9.2M underwritten public offering and uplisted to Nasdaq Capital Market
  • Expanded IEC purchase order expected to generate over $1M in revenue during 2026
  • Accumulated deficit reached $17.3 million; stockholders' equity was negative $573,000
  • Operating loss increased to $513,000 from $288,000 YoY

Financial Impact

Net loss of $921,000 on zero revenue; cash burn of $240K in Q1; $9.2M post-quarter offering provides runway into H2 2027 per management

revenuenet losscashoperating lossstockholders' equity

Risk Factors

  • Zero revenue in Q1 2026 with no clear path to profitability
  • Negative stockholders' equity of $573,000
  • Cash burn rate of ~$240K per quarter before the $9.2M offering
  • Dependence on single customer (IEC) for near-term revenue
  • Warrant liability of $708,000 creates potential for further non-cash charges

Market Snapshot

Exchange
Nasdaq
Sector
Aircraft

Documents Analyzed

This report is based on 7 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001213900-26-059258
Document: ea029161201ex99-2.htm0001213900-26-059258
Document: ea0291612-8k_duke.htm0001213900-26-059258
Document: 0001213900-26-059258-index-headers.html0001213900-26-059258
Document: 0001213900-26-059258-index.html0001213900-26-059258
Document: 0001213900-26-059258.txt0001213900-26-059258
8-K Data (Synthetic)0001213900-26-059258

US Market Status

Market Closed — Opens Mon (48h 46m)

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