ADTI
Adapti, Inc.2.0299
+0.0000+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
16.32MP/E (TTM)
-Basic EPS (TTM)
-0.89Dividend Yield
0%Recent Filings
8-K
CFO resigns; CEO takes interim role
Adapti Inc. CFO Marilu Brassington resigned March 2, 2026, without disagreements; CEO Adam Nicosia steps in as interim principal financial officer, aided by consultants. Separation deal offers $15,000 salary through March 31, $80,000 deferred consulting fees tied to $1M Reg A raise, $60,000 in stock, and accelerated vesting of 50,000 options at $3.08 strike. Leadership shifts smoothly, yet funding hinges on capital markets.
10-Q
Q3 FY2026 results
Adapti ramped revenue to $1.5M in Q3 FY2026 ended December 31, 2025, up from $1.2K y/y, driven by Ballengee acquisition closed July 2025 for $27.5M (6.5M shares at $3/share plus $7.5M note at 5% due 2030); gross margin slipped to 4.0% from 100% while operating loss hit $2.7M on $1.6M amortization of contract intangibles (36-month life). Nine-month revenue soared to $3.7M y/y (derived), but net loss widened to $2.95M ($0.37/share) versus $0.19/share prior, with interest adding $0.2M delta; EPS aligns with 8.1M diluted shares post-acquisition. Cash sits at $33K, offset by $5.7M current liabilities including $4.1M agent commissions payable and $0.2M line of credit draw; stockholders' equity flipped positive at $13.5M. Key agents drive 90% revenue.
8-K
CRO appointment with warrant
Adapti appointed Omar Karim as Chief Revenue Officer on November 18, 2025, bringing his digital marketing and fintech background. He gets a $180,000 base salary—accruing until $1M funding—jumping to $300,000 after, plus a warrant for 240,000 shares at $3.08 vesting over four years. New CRO. Skin in the game ties to capitalization.
10-Q
Q2 FY2026 results
Adapti exploded revenue to $2.1M in Q2 FY2026 ended September 30, 2025, up from $2K y/y, all from Ballengee Group post-July close for $27.5M (6.5M shares/$20M plus $7.5M note at 5% due 2030), recognizing $19.2M contract receivables and $6.0M brand intangible. Gross profit hit $798K (37.4% margin) yet operating loss swelled to $2.4M on $2.6M professional fees tied to the deal, plus $183K interest; net loss $2.6M or $(0.28)/diluted share matches 9.2M weighted shares. Cash climbed to $1.5M, buoyed by $1.9M financing, while long-term debt sits at $12.5M including related-party notes. Acquisition flipped deficit to $16M equity. Agent retention risks loom large.
8-K
Adapti sub gets $3M revolver
Adapti's subsidiary Ballengee Group secured a $3M revolving loan from Texas Security Bank effective November 3, 2025, maturing February 28, 2027, at prime plus 0.50%, capped by 80% of pledged receivables from player contracts for working capital. Cross-collateralized with a $2M loan to Ballengee-owned 2278 Monitor LLC securing the Dallas office lease; personal guarantees by James Ballengee and Mary Helen Ballengee Trust. Lender holds first liens on all subsidiary assets.
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